Real estate agents can find work in buyers’ and sellers’ markets. However, it takes work. Although the Bureau of Labor Statistics sees the number of new jobs in the field dropping through 2030, those who remain in it can earn sufficient income. Real estate agents earn at least $50,000 annually.
If you watch reality television, you know that real estate agents can earn commissions that reach six figures.
In some states, agents must work under the supervision of a licensed real estate broker or agent. Nonetheless, they can classify themselves as freelancers or independent contractors.
Working in the real estate field requires confidence, business savvy, and people skills. There is also a process for those who want to break into the field as freelancers.
Once you’re in, we offer seven tips for freelance real estate agents to succeed.
1. Establish a Marketing Strategy
All agents require a solid marketing strategy. They must market their services and property listings. In addition, professionals must create a consistent sales pipeline.
It takes four weeks to three months for a buyer to complete a purchase. Plus, it takes four weeks to two months for a seller to sell their home. Since transactions take time to close, agents must keep several balls in the air.
Some marketing strategies to consider using are:
- Local SEO
- Billboard, bus, and bench ads
- Social media posts
In addition, attend community events and tradeshows.
2. Incorporate Software
Since agents must continually keep several balls in the air, success depends on organization. By incorporating software, it’s possible to automate repetitive tasks and optimize the sales pipeline.
Customer relationship management software developers have developed versions for the needs of real estate professionals. These CRMs feature calendars, communication tools, and reminder features.
Thus, agents can streamline their tasks.
3. Maximize Technology
In addition to CRM software, real estate professionals benefit from maximizing the use of technology.
Some tech tools are obvious such as:
Others became more prominent in 2020, namely software, such as:
Technology streamlines important tasks for real estate professionals. The amount of paper used in the field still exists. The difference is that the bulk of it has become digital.
By coupling smart devices with productivity software, an agent can plan their days without burning themselves out or dropping a ball.
Even though professionals can complete more work online, the real estate field remains a human contact industry. Once an agent develops a solid reputation, clients, listings, and leads become easier to obtain. However, it’s still necessary to prepare for potential lulls.
Thus, professionals must network with their peers and potential clients.
5. Dress for the Role
The startup culture has impacted the business world. Although they have loosened the standards, real estate agents work with families, other professionals, and individuals. Therefore, it’s important to dress for the role.
When a potential buyer shows up for an open house, they should spot the agent easily.
Dressing for the role also creates trust and can garner a healthier client list. Fashion experts recommend putting together a wardrobe of business casual suits, shoes, and accessories.
The wardrobe also serves as a marketing tool. Well-dressed agents signal success and some clients search for that trait in their representatives.
6. Remember the Law of Averages
Career paths that have a large sales component require a thick skin. Sometimes professionals will experience a steady streak of no’s or deals that fall through. When this happens, remember the Law of Averages.
In short, the law states that someone will say yes, eventually. Every no brings professionals closer to a yes.
Success doesn’t occur overnight. Once you achieve it, it requires maintenance. If you experience a lull, your ability to remain optimistic and motivated will determine future success.
7. Continue Your Education
Agents benefit from keeping up with the latest developments in the field. State regulations might change or licensing renewal requirements might shift. For example, some states require agents to complete a minimum amount of continuing education hours to renew their licenses.
Therefore, the benefits of continuing your education are two-fold.
If you attend classes in person, you’ll network with your peers. You might pick up new strategies that generate more leads, listings, and closed sales. Plus, you’ll satisfy a portion of your license renewal requirements.
Successful real estate agents can earn six figures annually. Success stems from organization, confidence, and networking. By following the above tips, agents lay down a stable foundation to succeed.