If you can grasp these fundamental abilities, you'll be successful in real estate regardless of how your market is doing.

Although the real estate industry is always evolving, the traits of high-achieving professionals remain constant. As technology advances, the specifics may change, but the fundamental abilities remain constant. You will succeed in any market if you can master these.

Skill 1: Making New Friends

Simply said, you won't have anyone new to sell to if you never meet anyone new. It makes no difference if you first meet somebody in person, online, or over the phone. You've at least taken the first step toward success if you speak with them one-on-one about their needs.

Skill 2: Establishing Personal Relationships

To be successful in this industry, you don't need to be the greatest at everything. All you need is competence and likeability. Customers purchase from people they like. 90% of your sales process will be completed if you can establish a rapport with your clients and earn their trust. Do you want to build trust quickly? It is not in your best advantage to tell the client something. Prove to them that you value honesty above anything else.

Telling them that you were sued last week will make them uneasy, so don't do that. However, it can entail pointing out that homes in a different neighborhood are less priced and offer the same amount of space. They are aware that selling them a more expensive home increases your earnings. You can be trusted if you show them something that serves their interests rather than your own.

Skill 3: Investigating Each Lead

One major area where agents fall short is follow-up. You will never be a high performance if you don't take every lead you get and work it to death. Building the strong pipeline needed to keep your business generating consistently requires working every lead until it either closes or is obviously no longer a lead. This implies that a method is required to ensure that nothing is overlooked or forgotten. You should never write down a lead on your Post-it notes, therefore throw them away. Every lead requires a minimal quantity of information and must be stored in one location. This comprises:

• The name of the individual
• Contact details
• Which property prompted them to get in touch with you (or, if it wasn't a property, where they came from)
• They have a moving timeline.
• Whether they're selling, purchasing, or both
• What they want and where they're looking if they're buying
• Their emotional hot buttons, or the things that make them happy or upset

Don't hesitate to get in touch with them again for more details if you don't have all the information you require. Additionally, if you get the information you require, keep in touch with them frequently to ensure they stay on course. Worry that they would otherwise forget who you are or feel forgotten by you, rather than that you will be bothering them.

Skill 4: Requesting What You Desire

Although this is usually a major issue for newcomers to the real estate industry, you might be surprised to learn how many seasoned professionals also overlook this aspect. You have to ask for things in order to acquire them, even though it's not always simple. Request the sale. Request an appointment. Request the phone number of the individual your client wishes to recommend.

Don't wait for clients to call you, for purchasers to tell you that this is the house they want, or for clients to say they're ready. Be straightforward. "Is this the house you want to buy?" ask them. "I'll get your house on the market tomorrow if you'll sign right here." "Which is better for you: Monday at 6 p.m. or Wednesday at 3 p.m.?" "Why don't you give me your friend's number, and then you don't have to think about it anymore?" Some of the best practitioners in the field employ all of these excellent closing questions.

Skill 5: Establishing Reasonable Expectations

It all comes down to meeting expectations when the contracts are signed and your clients are on board with the process. And there will be expectations, whether they are set by you or your clients. You don't want to be caught off guard by something your clients decide to expect without first contacting you, which is why it's crucial to set such expectations yourself.

The most successful real estate agents are experts at establishing expectations. They avoid making unachievable promises and are aware of what constitutes a fair timeline. If there is a need for change, they notify clients right away and establish the new expectations in a timely and definite manner, preventing the clients from wondering (and worrying) about what will happen next.

Skill 6: Attending To Specifics

Your business needs to be handled like a business. This entails putting in place a structure to guarantee that due dates are fulfilled, appraisals are obtained, responses to home inspections are received on time, appointments are remembered, and issues are resolved. Systems should even be in place to ensure that your clients—and, if you're really savvy, the clients on the other side—have taken care of all the details they need to. Don't let anything go; hold onto every agreement and work it through to completion. Top performers raise their closing ratios and per-hour earnings by preventing many deals from dying each year.

Skill 7: Keeping A Close Eye On Money

Many agents tell me that they are more concerned with the people than with the money. And that's fantastic. I also enjoy assisting others. However, you won't make any money if you don't concentrate on it. You should be paid for the abilities and services you offer because real estate is your business and your source of income. You'll do the following if you quit worrying about the money:

• Give your commission away.
• A referral money should not be accepted "to be nice."
• Don't work on listings that will never compensate you fairly for the amount of effort you perform because you "feel bad for the person."
• Listings that are too expensive will make the sellers like you.
• Not compel purchasers to sign agreements.
• If your broker gives you a split that is below market, stick with them.

You end up working too hard and not earning what you deserve as a result of all of these factors. It is not your responsibility to make the world right. It's your responsibility to earn a living, ideally a good one. The amount of money you keep after closing deals is more important than the quantity of deals you complete.

If you want to succeed, you must concentrate on the money. You're operating a charity, not a business, if you're not turning a profit. Additionally, you don't receive funding like charities do in order to survive.

You must be abreast of developments in the economy, buyer and seller priorities, industry rules, and technology. However, the abilities I mentioned above will help you more than any new, gaudy marketing strategy or social media tactic. These abilities will make the difference between a decent and a great real estate agent, regardless of current market conditions.