Statistics indicate that only 20% of agents are doing 80% of the deals. Yes, read those numbers again!

In other words, with 80% of the agents fighting over 20% of the business, it’s no real surprise there’s such a high agent turnover!

How do the newbie agents stack the odds in their favor?

Besides the importance of selecting the right brokerage to work for, the necessary continuing training, ongoing sharpening of the communication as well as negotiation skills and a healthy dose of ambition, there are a number of less obvious attributes a starting real estate agent must pay attention to!

Now, instead of being told how to do something, how about approaching it from a different angle: breaking the bad habits before creating good ones!

A never-to-do list for successful real estate agents, if you will!

Here are 10 things you’ll probably never see successful real estate agents do:
1.   Successful real estate agents never avoid confrontations

The daily agenda of a real estate agent is filled with confrontations in all shapes and forms: whether it be a listing or mandate presentation, contract negotiation, or price counselling, to name but a few, the agent is likely to face opposition.

Exactly why great verbal skills will come in very handy!

Moments of discomfort are a given during confrontations where silent moments can be used very strategically. Successful real estate agents tend to show no fear of loss during these confrontations.

Negotiation is a skill that can be taught. Effective negotiation demands an understanding of both parties’ wants and needs, remaining flexible with a number of options, foreseeing (counter)offers and using the power of persuasion to encourage clients to respond to offers.

Successful real estate agents know that confrontation is part of their daily life. Instead of wasting valuable energy and time trying to ‘wing it’ or worse, trying to avoid it, they actually go out of their way by honing their skill set. Hopefully during the next confrontation, they’ll then be better prepared!

One will need to learn to embrace confrontation. Sometimes it’s as simple as actually asking the question!

Most agents thrive on it as they see it as yet another challenge to overcome before reaching that final stage: the sale!
2.   Successful real estate agents never assume perfect circumstances

The old adage goes, “If it were easy, everyone would do it.”

That’s ever so true when it comes to selling real estate. Arriving in a top class car, getting out dressed up in that designer suit, fly through the contract signing without much objection and voilà! It does appear very easy work to take one client through, sign a contract and che-ching the commission!

It couldn’t be further from the truth! Even though the overall basics might appear to be the same, there’s no cookie-cutting method, as each buyer and seller will have their own specific circumstance which presents its own challenges that needs custom attention. Successful real estate agents know that every single close will be unique.

No two deals are alike! Ever!

Are we in a buyers’ market? Or is it a sellers’ market? Does it really make a difference; either situation has particular conditions that aren’t perfect. Just look at MacGyver (yes, I’m revealing my age now), and see how he makes the best of every situation. He’s acting with the information at hand and keeps moving forward!

Approach every circumstance with the right perspective and don’t assume perfection! Successful real estate agents can differentiate between pains of growing and pains of suffering.
3.   Successful real estate agents never fall behind the curve

It comes down to one thing: education.

Whether one is referring to reading the latest (e-)books, magazines, articles on real estate-related topics, real estate seminars or checking up on the latest technological gadgets and web tools, successful real estate agents realize this is a continuous learning process and that one needs to stay current on the latest technology. And yes, this sometimes means stepping out of your comfort zone!

Technology has become a major part in most areas of our lives. Just imagine what would happen to your business if you hung on to the fax machine and refused to work via email?! Or how about waiting for those leads calling from those newspaper ads versus social media leads nowadays?

Contrary to popular belief, all these ever-improving tech tools are not narrowing the competency gap between real estate agents, but actually widening it instead! Successful real estate agents know the enormous importance of staying ahead of the curve!

Would it be a bold statement to say that by 2020, the Top Performing 5% of real estate agents will consist of 80% agents who have been in the business for less than 5 years?
4.   Successful real estate agents never forget it is a team effort

Unlike what’s being portrayed in shows like Million Dollar Listing New York, most successful real estate agents aren’t looking for the limelight on their special real estate deal du jour.

Once estate agents are too busy servicing their current listing mandates to take on new business, it’s time to expand the team. If they’re already working in a partnership, hiring an assistant is likely the first port-of-call.

Being surrounded by a well-oiled team makes successful real estate agents even more efficient! They give other people credit for their work and shine the light on their team members. They’re great at letting go and spreading the weight among others. Trusting and believing in one’s team work ethic as much as their own.

Successful real estate agents know they can’t be doing everything themselves and acknowledge that delegating and outsourcing less (or no) income-producing activities will free up valuable time.
5.   Successful real estate agents never get jealous or resentful

In large brokerage offices, the competition can be quite fierce amongst its agents. Successful real estate agents rise above the day-to-day office rumors and get on with their work.

Why bother hiding from those slightly better agents? Learn from them! Soak up their knowledge.

All that negative energy is too emotionally draining anyway and is much better spent on your own work than resenting the behaviors or actions of others!
6.   Successful real estate agents never waste anyone’s time

As busy as most successful real estate agents are and how often their schedule changes at a moment’s notice, they don’t break a commitment. They might postpone a meeting on you but cancelling won’t happen.

Face to face time is never a lost opportunity to interact with clients.

That’s their way of earning respect and building credibility.

The best way to give back would be to mentor a starting real estate agent. Nothing more exciting than handing over some fun/creative assignments and letting them run with it! New talent will rise and eventually assist in putting together important projects.

In the background, successful real estate agents are checking off an extensive list of rather boring assignments, because when you do what nobody else wants to do, you’ve become indispensable!
7.   Successful real estate agents never lose track of the bigger picture

Some mistakes were perhaps plainly bad calls and/or even very expensive lessons. Whatever may be the case, one needs to see them as opportunities to learn something new.

Why are the successful real estate agents so knowledgeable? They know the price of their mistakes and don’t plan on making them again!

Experience is a cruel teacher. It gives the test before presenting the lesson.Click To Tweet

Working in teams will bring with it frictions at times, but that’s part of the learning! Successful real estate agents focus on the bigger picture and are quick to point out that those teething problems are stages one needs to cross onto the next big phase.

8.   Successful real estate agents never skimp on marketing

Are most new real estate agents aware that the toughest part of the business is finding the business?

Having paid all the license fees, board dues, starter kits etc, the last thing they’re thinking of at this point is spending more money on marketing!

Unfortunately, it doesn’t work that way. As in any other business, it takes money to make money or the amount spent on marketing will be in direct proportion to the amount of business you’ll see. As if it wasn’t already tough until now, the marketing efforts need to be properly focused. How easy is it to spend it on the wrong tools, such as traditional print marketing (weekly newspaper, monthly real estate magazine etc), which have a very low return on investment. The brokerage office itself can do so as it promotes its current stock inventory, as well as draws in new buyer lead for its agents.

Successful real estate agents are quick on the mark in getting their name out as the person to contact to buy or sell from the get-go! As their financial means improve, they make sure to reinvest in marketing themselves.
9.   Successful real estate agents never say that something isn’t in their job description

When you arrive nicely on time at your Sunday open house and realize that the floor needs a good mopping, what are the odds you’ll quickly do it? Or the kitchen sink is still filled with dishes – will you make an attempt at cleaning it up?

Just because one’s job description didn’t mention anything about the above doesn’t mean it isn’t part of your job! As basic as it may appear at times, successful real estate agents aren’t lonely wolves. They’ll find opportunities to be useful and add value!

Only when an entire team understands and empathizes in such situations, will it result in people feeling appreciated and being excited in the morning getting ready to work!
10.   Successful real estate agents never forget it’s all about doing the basics

How many agents started in the real estate business thinking they’ll have two lives: a personal and professional one?

Guess what? It’s one and the same!

People don’t just want to see your emails. They want to see you work. They like to put a voice and face on that business card you dropped off at their home earlier in the week.

Successful real estate agents know that 20 years of experience is just Year One repeated 20 times! Non-stop time to learn, time to adapt and time to get comfortable with the newest tools and technology. Planning is a big portion of that and it being a business, it’ll require you to put together a detailed business plan with medium-term targets, short-term goals etc!

Benjamin Franklin supposedly once said, “If you fail to plan, you’re planning to fail.”

Consistently and pro-actively lead-generating is a must, even for experienced agents. They can’t just get busy servicing existing clients until all those transactions are closed before starting to look for new business. They will actually block time for a few hours every day to prospect for new clients!

The key is to decide on a system that works for you and stick to it. Real estate truly is a numbers game!

An average estate agent and a successful one differ in the way they view their customers. The former will be focused on getting that one commission cheque in, while the latter will be aiming for repeat or pipeline business.

Make a client happy and they’ll come back again and again. Make a client very happy and they’ll be an ambassador for you to their friends and family!

Having covered the basics correctly, successful real estate agents know more (referral) business will come their way. All it takes is a handful of years in the business to start seeing people call back for your services!

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There is a need for your foundation to be built on the basis of passion rather than profit. It is difficult to excel long term if the only consideration for your action is money. It is possible to make money in a field and feel frustrated because you are doing it out of obligation rather than passion. The work of a real estate agent is long and arduous.  Although many plunge into it based on stories of mega commissions, many of them quickly realise that making money in this field is not a piece of cake. You must be prepared to work for long period of time without seeing any tangible results and without getting discouraged. Not all of us are cut out for such a lifestyle but if that is your preference, then go for it.

It might be a good step for you to analyse the skills set needed in order to know what is required. A real estate agent must be a learner, a marketer, a salesman and a strategist. A real estate agent must be knowledgeable about real estate generally and must specialise in specific areas of real estate investment as well as a thorough understanding of specific locations. There are many colleges and universities with specific courses in this area. There are a few private training colleges that are also engaged in training intending real estate agents. This is the part of formal education.

In addition, there is a form of education that is referred to as informal education which must be an integral part of the life of any real estate agent who wishes to be a success. You need to read widely about areas that are not directly related but are important. It is also strategic to understand specific markets. It is literally very challenging if not close to very difficult to master every single type of real estate investment and every location. Of course, as you go along in the business, you will acquire some information about different areas but this is not sufficient to make you an expert. You need time and lots of time to really understand the dynamics that work in particular markets and also to be well known in that sector.

Many successful real estate agents also spent some time working under those who are already established in the industry in order to fast-track their learning. Working for some years in a real estate company or with a real estate specialist will expose you to various industry best practices. It will help you to build a good network of contact with other agents who will be sources of information about opportunities. Developing a network of key contacts is very important in real estate. Building this network may require you to be part of your community or associations. Remember what someone said; ‘your network is your net worth.’

Successful real estate agents also actively engage in lead generation and marketing. Lead generation is creating and establishing contact with people who will show interest in the properties that you have and are likely to become your clients. Your lead generation works in two ways. The first is securing listings or sellers. The second is securing buyers. Depending on various economic and social factors, there are times when it is easier to get buyers than sellers and vice versa. For instance, in times of economic downturns, the numbers of sellers automatically increase.

Finally, and perhaps the most challenging is good customer service. All businesses require proven processes of meeting customer’s needs. Real estate business is a long term business and if you intend to keep making lots of money in this sector, you need to treat your colleagues and your client’s right. You need to keep your promises to both and carry them along if there is any difficulty. You need to address customers’ complaints promptly and mend relationships whenever you can. You need to create and protect your brand .You need to expose yourself to best practices and implement them in your business.

PUNCH.

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Below are some reasons things to avoid on your way to becoming a successful agent:

Failing To Prospect
Prospecting is an opportunity to sell your business to clients and property owners alike as they tend to know what you have to offer and how you intend to deliver it. Some agents are scared of prospecting because of the fear of getting a ‘NO’ response and they erroneously associate ‘NO’ with rejection and failure. It is a normal thing to get a NO response from people; we will probably encounter more ‘NO’ responses than ‘YES’ responses in a lifetime. Start having a positive attitude and start associating ‘NO’ with a sign that you are doing something towards achieving greatness.

Unwilling to Follow-up
Follow-up is very essential in real estate marketing as it reinforces the client’s confidence and loyalty. Clients are keen to do business with an agent who always does an effective follow-up. When you don’t follow-up clients, you might lose them faster than you think and this translates into less revenue.

Getting Thrown Off-track by One Bad Experience
Having a bad experience is not a desirable occurrence.  It can have a negative impact on your psych but you should not allow it to send you in a downward spiral.
Initially, getting over a bad experience might be challenging but you have to train yourself to do it. Otherwise, you’ll end up broke, depressed and unhappy. So, get up, get your act together and move on!

Making the Same Mistake Over and Over Again
The goal of every agent is to achieve the target objective but when this does not work, go back to the drawing board and find out those things that you did wrong or failed to do.

For example, when an agent fails to land a listing, the best thing to do is to find out why the deal fell through. You will be surprised at the things that you didn’t do right that counted against you. Correct those mistakes and you could be well on your way to landing numerous and lucrative clients pretty soon.

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According to a statement by the firm, questions from the online audience bordered on issues such as fee collected by agents before inspection; commission on rent and rental costs. The agents also advised on steps to take when attempting to rent a property, as well as on auctions, a new side to the property market.

It added that the ‘Social media takeover’ event was designed as a means to enhance interaction with Lamudi Nigeria’s online following, to give the agents an opportunity to experience first-hand the company’s processes and as a forum for the workers to meet with agents and discuss issues concerning future projects.

An agent, Mr. Abdulazeez Ajadi of Zeez Consult and Properties Management, was quoted as saying that the platform was a good development.

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