Hi kwadrini,
As you can see from the comments below, there are lots of homebuyers
and sellers and real estate agents who can give you feedback on what
qualities they'd like to see in an agent and how they'd define a
successful agent.
According to an article in Realty Times, "Agents today face a
tremendous learning curve and expense to be able to serve consumers in
two worlds - online and offline. With over 1/3 of consumers shopping
for homes online, agents must be proficient in online business
practices as well as traditional real estate practices. They must be
individually equipped with cell phones, laptops, Palm Pilots, pagers,
Web sites, hosts, and other communications tools to be competitive.
They must continue to pay for expensive media advertising to get
themselves and their listings publicity at the local level, too. They
must farm for new prospects online and offline by walking and calling
on their adopted neighborhoods. Competitive agents are highly skilled
at balancing both worlds, which is more expensive, time-consuming, and
challenging than doing business only the traditional way."
http://realtytimes.com/rtnews/rtcpages/20000526_amerbeauty.htm
Given that realtors are paid on contingency and sometimes work without
a contract, it can be a very difficult occupation. Of course, with the
right approach, it can also be a very rewarding occupation too.
The keys to success seem to be fairly straightforward:
- Developing good listening and communication skills
(Setting expectations and letting your customers know what you're
responsible for and what they're responsible for and making sure
everyone understands the buying and selling process will make the
process flow smoothly)
- Knowing the California real estate market
- Doing your homework when you're dealing with your clients
- Developing a large clientele
- Good presentation skills (When working with sellers, you should make
a sales presentation and including a comparative market analysis of
local home prices in their area.)
- Taking heed of the comments from buyers and sellers
If you have a few moments to read through the list on the following
link, I think it would give you the best idea of what buyers and
sellers look for from people who've had a positive experience. The
information is somewhat biased because the information is intended to
persuade people to use this particular service, but it's still quite
informative.
http://www.homegain.com/press_center/success_stories/consumer/
In no particular order, here's a summary of some of the suggestions
from a variety of websites on what buyers and sellers should ask when
choosing an agent (I've listed sites that I pulled this information
below.):
Does your agent have an active real estate license in good standing?
What designations does the agent hold?
What party is the agent representing -- the buyer or the seller?
How will the agent help you accomplish your goals?
What services does the agent offer?
Does your agent belong to the MLS and/or a reliable online homebuyer's
search service?
Does your agent cooperate with local brokers on a sale?
Has your agent listed or sold in your neighborhood lately?
How well does your agent know the market? (How would the agent price
your home? How would the agent market your home?)
What is the agent or broker's fee?
Will your agent cooperate with buyers' brokers?
What share of commission will your agent offer a cooperating broker
who finds the buyer?
Is your agent a good listener?
Is your agent accessible?
How long have they been licensed as an agent?
Is the agent part-time or full-time?
What awards has the agent won?
Is the agent cooperative and enthusiastic or rude and arrogant?
Does you think you can have a good working relationship with the
agent?
http://www.realtor.com/Basics/Buy/Looking/Realtor.asp?gate=realtor&poe=homestore
http://www.homestore.com/Finance/SellersGuide/Step02.asp?gate=realtor
http://www.realestateabc.com/homeguide/mistakes.htm
http://www.realestateabc.com/homeguide/reasonsagent.htm
From what I could gather, it seems that word of mouth is still the
most common way that agents get their clients. Recommendations from
friends and colleagues seem to be a tried and true method for finding
agents. Some find their agents by calling real estate firms and asking
for agents who've worked in their neighborhood. Of course, you'll also
want to advertise locally and make sure that you and your listings are
in the local media. And, of course, you can't forget to market
yourself on the Internet, since a third of buyers are now shopping for
homes online.
Here are some additional resources for real estate agents that you may
find useful:
Realtor Mag Online
http://www.realtor.org/rmodaily.nsf?opendatabase&source=realtor
Has a realtor problem solver and lots of tips and industry information
for realtors
Monstermoving.com
http://www.monstermoving.com/Find_a_Place/Department/REAM/Agent/terms.asp
Sign up to be a part of its real estate agent matcher service
The Real Estate Library
http://www.relibrary.com/18main1.htm
Prospecting Tools
NAR Code of Ethics
http://www.realtor.org/realtororg.nsf/pages/narcode
Practice standards from the National Association of Realtors
California Association of Realtors
http://www.car.org/
Tools, news, analysis and tons of additional information
DeadlineNews.com
http://www.deadlinenews.com
Residential real estate news and analysis from the San Jose Mercury
News' real estate reporter, Broderick Perkins
State of California Public Licensee Information
http://secure.dre.ca.gov/PublicASP/pplinfo.asp
Allows buyers and sellers to check the status of a real estate
salesperson, broker, or corporation.
California Department of Real Estate
http://www.dre.ca.gov/
Search terms used:
national association of realtors
://www.google.com/search?q=national+association+of+realtors
tips for realtors
://www.google.com/search?q=tips+for+realtors
california real estate
://www.google.com/search?q=california+real+estate
Google directory categories:
Business > Real Estate > Associations
http://directory.google.com/Top/Business/Real_Estate/Associations/?tc=1/ |
Clarification of Answer by
katwoman-ga
on
25 Apr 2002 16:49 PDT
Kwadrini,
The answer I gave you was mainly geared toward residential real
estate.
I just talked to a commercial real estate agent who has been in the
business in California for 20 years.
She said the bulk of her business comes from referrals. She also said
that the real estate business is all about building and establishing
relationships and keeping in touch with clients no matter how large or
small so that when their needs grow you're able to help them.
Here are some other suggestions and thoughts that she offered:
- Networking is essential
- It's important that you keep up with what's going on in your target
area.
- You should advertise and promote yourself, so that when clients are
ready to buy, they'll give you a call. (For example, you could
establish a monthly newsletter.)
- You should keep up with what other brokers, agents and property
owners are doing
- There are lots of organizations that can provide you with lists of
comparable sales or leases and availability
She also thought it was important that I note that you must continue
to take classes to keep your agent or broker's license current. And
lastly, you should make sure any property you're trying to sell shows
well. Both of those comments hold true for residential or commercial
real estate.
Here are some tips on staging a home:
http://www.homestagers.com/staging-tips.html
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