Skills You Need to Successfully Buy and Sell Real Estate
Many people choose to dabble in real estate, either as a side hustle, a post-retirement job, or a lifelong career. If you’re going to become an agent or realtor, however, you first need the proper skills. Here are three to develop before entering the exciting, challenging, and lucrative real estate industry.
Communication Skills
As a real estate agent, most of your work time will be spent in some form of communication, whether in person, over the phone, by text, or through the written word. Because real estate is such a communication-heavy career, it is essential that you develop good communication skills in each of these forms. On a day-to-day basis you will be dealing with anxious buyers, irate sellers, and everyone in between. A good agent is courteous, assertive, and attentive. To be successful, you will need to be available for contact and advice. You will be required to provide comfort when deals don’t work out, soothe angry and hurt feelings, and mediate well between interested parties.
You will also be filling out mountains of paperwork, so be sure that your spelling, grammar, and penmanship are up to par.
How to Negotiate
Real estate is all about negotiation. Agents have the negotiation skills to navigate difficult situations in real estate. This could be between a seller and purchaser, an owner and an inspector, or a purchaser and a relocation representative. When stakes are high, it is easy for emotions to become volatile. A wise agent knows how to soothe hurt feelings, find a win-win, and negotiate through the difficulties.
Real Estate Knowledge
There are several requirements to become a real estate agent, including minimum age and educational levels, background checks, pre and post licensing requirements, and more. These will be different based on your state of residence. However, there is one requirement that is incorporated in all others: a solid understanding of the world of real estate. In addition to state real estate laws and regulations, a quality agent will possess a deep understanding of the areas in which they serve, the ins and outs of the current local market, indications of solid investment properties as well as red flags, and familiarity with all types of funding. Additionally, they will have a wide network of inspectors and other agents to work with.
If you are a people person with excellent communication and negotiation skills, as well as an interest in buying and selling property, then the real estate industry just might be for you. Find out what it takes to move forward in your state. You could be well on your way to your next careerand become a pro as you learn to buy and sell real estate.
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