Soft skills1 are as almost as important as hard skills. In fact, they often define success more than expertise does. It’s one thing for a real estate investor to be knowledgeable enough about the market to recognize that a particular piece of property is a prime target due to its foot traffic, location, price, and zoning But no deal occurs without negotiation and communication. The following list of six soft skills for real estate professionals includes the capacity for negotiation and communication.
Perhaps the most crucial soft skill of all is communication. Beyond the spoken word, communication involves many different facets, such as being aware of your own and other people’s body language, comprehending the pain points involved, identifying issues, and showing respect for other people’s time and contributions. To ensure a successful career in the real estate industry, time would be well spent investing in interpersonal and communication skills. One technique is “active listening”.
A great communicator actively listens in addition to being articulate. For active listening to be effective, the listener must give the speaker their full attention. This does not necessarily mean listening to respond. Someone who actively listens to what is being said can assist in resolving conflict and stimulate new ideas, whether they are an employee or a business partner.
Napoleon Bonaparte may have established a strong empire and taken control of much of Europe. But in terms of soft skills, he was not particularly good at negotiation. He gave his blessing to the sale of the Louisiana territory2, which included 15 U S. for $15 million, roughly equivalent to $250 billion in today’s currency, four U.S. states, two Canadian provinces Little did he know that the U. S. was willing to spend up to $10 million on just New Orleans.
Real estate requires patience because most transactions take time to complete. Years may also be involved in the worlds of commercial property and large housing developments. After all, the process of developing land necessitates construction, zoning, and many other things. Less mistakes are made and the best outcomes are obtained when one is patient and stays the course.
Sometimes a deal no longer makes sense due to factors like a shifting market, new objectives, and rising costs, among others. The most successful real estate professionals sell a property they own that no longer makes financial sense or relinquish a property they’ve been looking for. This must be accomplished as amicably as possible with the participation of all parties. A withdrawal that is too abrupt, emotional, or harsh could cause problems for upcoming projects or networking connections. Fairness and tact can lessen the negative effects and keep the peace.
Examples of skills for real estate agents
Here are some of the skills for real estate agents:
Communication skills
Real estate agents must communicate effectively in many areas of their work. Real estate agents must be able to communicate effectively with both past and present clients. Real estate agents who collaborate with others on a team must also communicate with one another. Excellent communication skills are necessary for marketing your real estate business as you interact and network with potential clients. Writing concise property listings that will appeal to buyers is a skill that real estate agents who want to work as brokers and list houses for sale must possess.
Problem-solving
Real estate agents frequently need to find solutions for their clients’ problems. For instance, a client may inform a real estate agent that they must find a home by a certain date that is drawing near or that they have a long list of difficult-to-find requirements for their new residence. The real estate agent must work hard to find practical solutions for these issues for their clients in order to close a deal and make both parties happy. Some issues a real estate agent encounters require ingenuity to solve.
Technology skills
Technology is frequently used by real estate agents to share home listings with clients. The real estate process has benefited greatly from technological advancements, which include a variety of applications for home searches, the rise of 3D tours for home listings, and how listings are shared. If a client lives in another city or state and cannot attend a tour, some real estate agents may even need to show them homes via video conference. Real estate agents can also benefit from technology for communication and marketing.
Knowledge of your industry
Since the real estate market is so competitive, things can change quickly. For instance, there might be a hot real estate market with insufficient inventory for the buyers who are looking or there might be a lot of homes on the market but not as many buyers. Such information is necessary for real estate agents, along with market trends regarding the popular types of homes and the neighborhoods that appeal to particular buyer types.
Negotiation skills
Real estate agents frequently participate in negotiations, particularly when speaking on behalf of their clients. They must be able to effectively negotiate while adhering to the laws and guidelines that govern their region’s real estate market. For instance, the negotiation process can be difficult when real estate agents must frequently submit an offer in writing to the broker who is representing a property that is up for sale. To effectively represent their client’s needs during negotiations, real estate agents must comprehend what those needs are.
Local knowledge
Real estate agents must have a thorough understanding of the community they serve. This includes information on local housing trends as well as information on the locations of neighborhood amenities, the characteristics of the local school districts, the types of neighborhoods in the area, and the average housing costs in various parts of the region. Typically, clients hire real estate agents to serve as their go-to experts for information on these matters while they search for a home.
Organizational skills
Being organized is crucial because real estate agents have many responsibilities, including serving multiple clients at once. It’s possible for real estate agents to manage a lot of physical and digital documents and files, and keeping those organized makes it simpler to find the right document when it’s needed. Due to the necessity of being dependable, real estate agents must also keep a schedule that allows them to meet with clients and colleagues at the times that have been agreed upon.
Ethics and integrity
Because real estate purchases are frequently the most expensive transactions the average person will make in their lifetime, real estate agents work in an industry that is strictly regulated to ensure consumer protection. Real estate agents need to have a firm grasp of what it means to conduct themselves professionally and with integrity. These real estate agents frequently have longer careers because their clients trust them as a result of their moral conduct.
Networking skills
Even when they are having leisure time away from the office, real estate agents frequently network. Networking is crucial for real estate agents to find new clients because so many people prefer to work with a real estate agent that they know or that someone recommends. This might entail going to neighborhood gatherings or asking your contacts to pass along your information to anyone they know who needs a real estate agent.
Knowledge of real estate law
Depending on where you live and work, real estate law can be complicated and different. Real estate agents must have a fundamental understanding of real estate law, particularly as it relates to the paperwork needed to purchase a property. For instance, a real estate agent may be required to complete an offer contract, complete the sale of the home, and close on the sale on behalf of a client buying a home. Even though the real estate agent might collaborate with others on these contracts, they should be aware of what’s involved.
Understanding of architecture
Real estate agents should be familiar with architectural terms because clients might request a particular home style or architectural feature. For instance, if a client requests to see a Colonial-style home but the real estate agent shows them a Craftsman-style bungalow instead, the client may be dissatisfied.
Marketing skills
Particularly those who work independently or for a business that doesn’t offer marketing services for agents, real estate agents frequently need to promote their services in their local community. Physical advertisements like signs and billboards, digital advertisements in various locations, or other strategies like press conferences are all possible forms of marketing for real estate agents. More clients can be attracted to a real estate company through marketing, which expands the real estate agent’s business.
What are real estate agent skills?
For those working as real estate agents, real estate agent skills are useful. Real estate agents frequently need to be adaptable because they might spend one day negotiating contracts, looking into properties, speaking with clients, and marketing their company. While many people mistakenly believe that real estate agents only work in sales, they actually work on a variety of other projects as well. Real estate agents are frequently most interested in locating the ideal property for their clients, as opposed to some salespeople who may be determined to sell a specific product for their employer.
How to improve real estate agent skills
You can take the following actions to hone your real estate agent skills:
1. Take pre-licensing courses
Before becoming a real estate agent, you must pass a licensing examination, and in some states you must also complete pre-licensing courses. Pre-licensing classes are optional in some states, but they can help you understand the ideas covered on the test. These classes can help you develop the skills necessary for success in the real estate industry because they frequently serve as your first introduction to some of the most crucial aspects of the profession.
2. Join professional organizations
By becoming a member of a professional organization, you can network, attend professional training sessions, and gain access to resources that you might not otherwise have. The National Association of Realtors (NAR), which real estate agents must join if they want to use the title “Realtor,” is an illustration of this. The NAR provides its members with a variety of learning opportunities, which can be beneficial in particular for new real estate agents.
3. Obtain certifications
There are numerous certifications available for real estate agents that can help you improve your current abilities, learn new ones, and increase your marketability. Some of these certifications call for a specific level or kind of work experience, while others only call for you to do some studying and pass an exam. Getting a new certification can demonstrate to clients that you have specialized knowledge.
4. Complete continuing education
To keep their licenses, real estate agents may need to complete continuing education requirements, and these programs frequently serve to either improve or learn entirely new skills. Since continuing education is frequently necessary anyhow, it can be a great chance to learn new things and develop into a more effective agent.
5. Read and research on your own
Independent study is a fantastic way to acquire new skills. This might entail reading books on a subject you’d like to learn more about, like real estate law, marketing, or communications. It might also entail reading industry blogs and news websites on a regular basis, watching videos about your industry, or subscribing to magazines that are pertinent.
Real estate agent skills in the workplace
Real estate agent skills can be acquired outside of the real estate industry, in a variety of jobs. It’s possible that you already know how to effectively communicate or network if you’ve held other jobs in the past. Once you start working as a real estate agent, you’ll probably use a lot of the skills mentioned above on a daily basis or at least frequently. You may also be given training opportunities to advance your skills depending on the kind of real estate business you work for.
How to highlight skills for real estate agents
When looking for work as a real estate agent, the following are the best ways to emphasize these abilities:
Real estate agent skills for your resume
In addition to listing your top skills in a separate skills section on your resume, you should also include examples of how you used those skills in the descriptions of your previous roles. Potential employers can quickly see your skills thanks to this, and it also demonstrates that you are proficient in them.
Real estate agent skills for your cover letter
It can be helpful to choose a few key skills that are crucial for the position you’re applying for when you’re writing your cover letter. After that, you can discuss those abilities in relation to your prior employment or the position you want.
Real estate agent skills for your interview
You can practice ways to answer interview questions that will highlight your skills before the interview. You can come up with a few effective responses by researching typical real estate agent interview questions and considering how you would respond.
Please note that Indeed is not affiliated with any of the businesses mentioned in this article.
3 Skills EVERY Successful Real Estate Agent MUST HAVE
FAQ
What are the best qualities of a real estate agent?
- 10 Real Estate Skills Every Successful Agent Needs. …
- 1) Communication Skills. …
- 2) Local Knowledge. …
- 3) Teaching Skills. …
- 4) The Ability to Adapt to New Tools and Technology.
- 5) Real Estate Knowledge. …
- 6) Time Management Skills. …
- 7) Negotiating Skills.
