As a veteran real estate professional, you’ve gained valuable experience and industry knowledge over the years that can be extremely useful to those just starting out in the field. New agents may recognize this and come to you for guidance and assistance. When new real estate agents ask you for advice, it may be hard to know where to begin. What parts of your experience might be the most helpful to rookie agents? Here are some examples of useful advice to offer:
1. Be responsive.
Things can move quickly in real estate transactions, and responding promptly to communications and requests can be key to successful transactions. Getting back quickly to other agents and service partners can keep transactions moving forward. Responding to clients is a key component of service excellence and can help ensure that buyers and sellers have the information they need to make time-sensitive decisions, win offers, and complete sales. Being receptive and reliable in responding to clients also shows that they are a priority to you and that you value the relationship you’re building with them.
2. Stay informed.
Successful agents know the importance of keeping their finger on the pulse of local real estate markets as well as big-picture economic forecasts and trends. Counsel new agents to take the time to follow industry news as well as local and national financial reports that could affect housing prices and development in your area. Show them how to analyze information and break it down into meaningful data that can be applied to their deals. In addition to industry news, it’s also critical for agents to stay abreast of housing prices and comparables for the markets they serve.
3. Build relationships.
There’s no doubt about it — real estate is a relationship-driven business. Cultivating solid, long-term relationships with clients, colleagues, and service partners is a cornerstone of real estate success. Encourage new agents to invest time and effort into forming and fostering relationships in every facet of the business. The energy they invest in relationship building will pay dividends in the long run. Partnerships with colleagues and service providers can be mutually beneficial over the long term, and lasting relationships with clients can lead to repeat business and referrals as well as enduring friendships.
4. Go the extra mile.
Being successful in real estate often means going above and beyond. Staying at the office later, sending out more marketing materials, following up on every lead, and attending additional industry functions can have big payoffs. When it comes to clients, going the extra mile is extremely important. In addition to remembering the service excellence that agents provide, clients are more likely to recommend agents to friends and family when they feel that no stone was left unturned in the service they received.
5. Strike a balance.
Real estate can be an all-consuming business, especially during peak periods and when markets are hot. For overall well-being and to avoid agent burn-out, it’s important to maintain a healthy work-life balance. New agents need to know that this balance doesn’t happen by accident. They will need to take intentional, consistent steps to incorporate downtime, family time, recreation, exercise, hobbies, and rest into their schedules.
6. Include home warranties.
One of the best pieces of advice that you can give to new agents is that home warranty protection can add real value to every real estate transaction for buyers and sellers as well as agents themselves. A home warranty is a one-year service contract that helps safeguard against the cost of covered repairs or replacements to major components of home systems and appliances that fail due to normal wear and tear. HSA home warranties help protect both home buyers and sellers from expenses of covered home system and appliance components during the real estate transaction process and for the contract term. For more information about the many advantages of home warranties, contact your HSA Account Manager or visit onlinehsa.com.
When sharing your experience with real estate newbies, be sure to include examples and anecdotes that illustrate your points and offer real-life scenarios and practical applications. Encourage new agents to ask questions and let them know that you remember what it was like being in their shoes.