Real estate agents help simplify the home buying and selling process for many people. As per a statistic, about eighty-eight percent of people took the help of a real estate agent for selling their home. Career-wise, being a real estate agent is a lucrative choice. Agents have a flexible schedule and limitless opportunities to grow financially.
However, this field is also hazardous. One bad decision, and you could see hundreds, thousands, or even millions of dollars disappearing. A good real estate agent is known for the ability to avoid wrong decisions along with the right decisions they make. This blog has discussed five common mistakes that you should avoid as a real estate agent.
Not Communicating with Clients
The number one complaint regarding real estate agents is their lack of communication. Forgetting to convey even the smallest thing can lead to big issues with the clients.
For instance, not informing the client about a canceled meeting or hiding details about the prospective home, such as the need for repairs, including sanitary, kitchen, or garage door repair, can cause the client to cancel the deal.
Thus, agents should be transparent regarding communication with clients. You can decide a day to be dedicated only to client communication. Send them information about the current progress and things you have lined up in the upcoming days. Similarly, inform them about any details they need to know regarding the property and answer any queries.
Not Following a Schedule
Being a real estate agent offers flexibility, but that doesn’t mean that you shouldn’t have a schedule. One of the best qualities to have as an agent is effective time management skills. Real estate agents should plan their day well in advance. They should be well organized and focus on how they will spend their working hours. If they are not careful with time management, it could lead to a loss of productivity and income. In the real estate sector, time is money. Thus, being a real estate agent, you must make every second count.
Not Saving Finances
As mentioned earlier, being a real estate agent is financially rewarding. This can lead to agents living a decent to a lavish lifestyle, with high monthly expenses. However, they should also remember that the real estate market fluctuates. Sometimes the business is great and flourishing, while other times, you might fail to make even a single sale. For example, the COVID-19 pandemic led to the lowest home sales levels in April and May last year since 2007.
Thus, real estate agents should factor in such unforeseen scenarios and save a portion from every paycheck. This will provide them with the financial security to weather such storms when they come.
Not Sharing Professional Property Photos
Property photos help buyers in finding and purchasing their next home. But, if the photos are not good-quality, buyers will not even visit the property, let alone buy it. They will automatically conclude that the house is unfit for them. Agents will lose out on potential sales and thousands of dollars only due to this minor mistake. Thus, make sure that the photos shared with the clients instantly attract them. Here are some tips that can help with clicking share and sale worthy property pictures:
- Make sure that the property is clean and tidy.
- Remove any unwanted objects that can negatively impact the picture.
- Similarly, remove any distracting items from the pictures, such as massive artworks.
- Show natural lighting.
- Click the pictures from attractive angles that cover as much space as possible.
Agents can help a professional real estate photographer click high-quality, attractive pictures to get the attention of buyers.
Not Focusing on Digital Marketing
Digital marketing has gained immense popularity in the last few years. It has helped business owners reach their target audience easily. It has also proved to be a cost-effective method compared to traditional marketing. SEO, SEM, SMM, and other digital marketing methods can help buyers and sellers reach you easily, leading to business growth.
Thus, in addition to traditional marketing, real estate agents should also focus on digital marketing to find new clients and increase business opportunities.
These were the top five mistakes that real estate agents make, whether they are new to the field or experienced. Mistakes happen, but they can be avoided if you’re willing to draw lessons from them. The sooner you realize that you shouldn’t be doing the things mentioned above, the quicker and closer you will be to becoming one of the best real estate agents in the field.