20 Qualities That Make A GREAT Real Estate Agent

Almost weekly, I meet people who are attracted to a career in real estate.  Is it the right path for you?  The first thing I tell everyone is, "It's not a get-rich-quick scheme."  I promise.  And it's harder than good agents make it look.  While most people believe they would like to help people buy and sell real estate, very few learn or have the business acumen to do it well. There are specific skill sets that the best agents in the business tend to have in common.  If you want to be successful, then you'll want to either have or be able to cultivate these skills.

LISTEN

We are all born with two ears, but we don't all listen -- comprehending what we hear and acting on it -- equally well. A real estate agent's core purpose is to help  buyers or sellers navigate through the largest purchase or sale of their lives.

To ensure that buyers and sellers accomplish their goals, agents need to understand exactly what it is buyers and sellers are looking for, even if your clients are not able to articulate it well.  That means that learning to listen well is imparative to your success in helping them successfully accomplish their goals.

COMMUNICATION

Communication is the key.  And that's not the same as talking!  For many clients, the process of buying a home can be stressful.  Why?  Because they frequently don't even know how to ask questions going into the process, much less understand all of the moving parts that keep the process moving through to completion.  How do you, as a good agent, diminish that stress? Communicate well what they can expect before you even begin.  In my case, I insist on a buyer meeting before we go out to look the first time.  While I always encourage questions, I hope to do such a thorough job aticulating what they can expect, there is little need for questions. The need for great communication continues througout the process, what is happening and why, and communicating well leading up to and through closing.  Typically, if they understand and feel as if their agent is knowledgable and in control, their stress level will be significantly diminished. That also means that you, as their agent, need to know what you're doing!

HONESTY AND INTEGRITY

When people are purchasing a home, there is a lot of money at stake for them.  When you consider that their choice of home could also alter the trajectory of their lives, and that of their children, you can quickly see how being honest and excercising integrity are of paramount importance to their successful future.  If you intend for real estate to be a lasting, long-term career, then you need to behave in a way that ensures you'll be around long-term.  After all, the best business is referred business from past clients. Agents who break the law, perform in unethical ways, or who put their own needs ahead of their client's needs, might get some short-term gain, but ultimately they won't be practicing real estate as long as they'd prefer.

ABILITY TO HUSTLE

Real estate is a competitive business.  If you wait for business to come to you, you likely won't last. Can you get out there and make some business happen for yourself?  No one is going to hand it to you.

SELF MOTIVATION

One of the amazing things about being self-employed is that you can work just as hard as you want to, and no more. That's also one of the worst things about being self-employed. My wife actually calls it, "self unemployed."  She calls it that because she knows that every day, I get out of bed unemployed.  I have to go out every day and convience potential clients to hire me.  If you don't have some way to motivate yourself or a sense of drive you're going to have a few interesting months but then be forced to go find another opportunity.

DESIRE TO HELP PEOPLE

I am fortunate in that I am in this business because I want to, not because I have to.  That really frees me up to serve people without the concern of a commission.  Whether you get into real estate because you want to, or because you want to be in the driver's seat of your own destiny, you must give up your own interests and learn to be others-focused.  Yes, the potential is there to do very well financially.  And don't get me wrong, I enjoy a good commission check as much as the next agent. But this is also an intense, stressful gig. If you're in it for the money and only the money, you may find yourself looking for something else in a short period of time.  If your clients sense that you are in it only to serve your own interests, they will not stick with you.

Agents who stay in the business for decades usually are drawing their sense of satisfaction and a job well done from their clients. Buying or selling a house is a huge life accomplishment, and being the person who makes it happen can be hugely rewarding for the person who remains focused on others.

INTEREST IN HOMES (continued below this picture)

Look: If you aren't at all interested in buildings, architecture, home design, home maintenance, home upgrades, or anything to do with residential real estate, then it's possible you might be barking up the wrong tree. Agents need to know and understand the housing stock in the areas where they're working with clients, and if you have no innate interest in those things, learning everything there is to know about it is going to be a pretty tedious slog.

A HEARTY UNDERSTANDING OF THE MARKET

"How's the market?" Agents know this is one of the most asked questions they hear; it's one you can expect to hear as soon as someone hears you're a real estate agent. My wife and I have a running bet to see how quckly a conversation, even among friends, will turn to real estate.  People want to know what's going on the real estate market.  Mostly, they want to know what their home might be worth!  They want free advice.  And they will take it from an agent they believe is knowledgable.  Will you be able to answer those questions intelligently and in a way that showcases your expertise? Or will you fumble, revealing that you are faking it.  People pick up on that very quickly.  Don't go there unless you know what you're talking about.

MUST HAVE A NETWORK

If you think that "networking" is a dirty word and you frankly prefer never to do it, then you are probably not the best fit for real estate. Nobody's suggesting that you need to be sleazy or over-the-top with your networking, but you should feel comfortable (or able to feel comfortable) talking to strangers and forming meaningful connections with them.

A LOVE FOR YOUR LOCAL COMMUNITY (continued below this picture)

I have taken this point to an extreme!  For the last five years, I have served my city well by serving on the Brentwood Planning Commission, the Brentwood Tree Board, I have represented Brentwood on our county, Williamson County, Board of Equalization (I know; I didn't know what that was either until I got invoved), I volunteered to serve on a Steering Committee to plan and execute Brentwood's 50th Anniversary last year, I have served for 4 years on our HOA (there's a thankless job)...and so on.  I'm not recommending that you are THAT involved, but I do recommend that you show pride in your community by being involved to make your city a better place to live. Think about the last time you talked to someone who had a searing passion for something. It felt infectious, didn't it? It made you want to learn more about it and maybe dig into their passion yourself?

The agents at the top of their games feel that way about the neighborhoods where they sell homes; they could talk to you for hours about what makes those areas the best places to live.  Finding your own love for the place where you're selling homes is only beneficial for your business.

HAVE A KNACK FOR NEGOTIATION

When it comes right down to it, a lot of buyers and sellers think they could do most parts of an agent's job ... except, many of them admit, maybe not for the negotiating. It's a dance, a give-and-take, and it involves much more than just a home's price. The negotiating process is where most agents show their value to buyers and sellers, and it's where you should shine if you want to be a star.  Honestly, this is really where the rubber meets the road.  This is where you earn your money.  And a win-win game is what you're after.  If you feel as if you must always one-up others, you may get it, but people will hate you for it!  A well-executed contract is when all parties walk away feeling as if they successfully accomplished their goals.  Personally, I have walked away from prospects who, from the outset, tell me that they will win at any cost. 

ATTENTION TO DETAIL (continued below this picture)

There are a ton of moving parts to a real estate transaction, and a great agent is at the center of them all.  If you forget one item, it could delay the deal by days or even weeks, or derail it entirely.  Do that enough and it could cost you your real estate career.  Picture having to explain that to a buyer or seller, and you'll understand pretty quickly why agents have to pay close attention to all the details.

ORGANIZATIONAL SAAVY

Real estate is my second career.  In my first career, I wrote concepts and scripts, produced and directed film and video production.  As a producer, I always told my cients, "You pay me not to hear the word 'no'."  After I tell my real estate clients that, I tell them that, once we go under contract, I go into producer mode; and, I'm very good at it!  If you had to pick a term to describe what real estate agents do, I would say "project management" best fits. Buying or selling a house is an enormous project, and agents are the ones making sure everything happens the way it's supposed to happen, an on the timeline that you contractually agreed to. This means you need to have some basic-to-advanced organizational skills or hire someone who does.

TECH SAAVY

Like many businesses, real estate has become a web-based business, at least for the mechanics of it.  Documents, financial verification, and any number of processes are going fully digital.  Agents who balk at using technological tools to do their jobs are going to find those jobs increasingly harder.

EMPATHY

It's probably become clear that real estate is a high-stress industry, and part of that is because buyers and sellers themselves tend to be stressed. Sometimes people are happy to be moving, but there are plenty of circumstances when sellers are only leaving out of necessity, or when buyers would prefer not to be making this life change.

Divorce, death in the family, illness -- all of those can be reasons to buy or sell a home, and agents who aren't empathetic and sensitive to the emotional ups and downs of their clients will wind up making one of those clients very angry sooner or later.

CAN-DO ATTITUDE

A home-sale transaction almost never unfolds perfectly; there are snags and bumps and diversions throughout the experience. Agents who throw up their hands and declare defeat when faced with an obstacle are not agents who wind up staying in the business long-term. I have often said that the best agents are great problem-solvers.  Of course, not every problem has a solution, but if you approach every problem as if it's not the end of the road, you'll be successful.

DETERMINATION

Some time ago, I had one of the worst contracts that I've had since the beginning of this second career of mine.  It was so bad, that I told my wife one evening, "I believe their may be a third career!"  I won't go into what made it so difficult but, trust me, it was very stressful; that contract was the reason God made wind!  Real estate agents get used to hearing "no" a lot. (Although, hopefully, it's phrased as "no, thank you.") People in sales, in general, have heard the advice to not take no for an answer, and whether or not you believe it's good advice, it's definitely indicative of how often salespeople will hear that word.

A good agent is determined to get the deal done. Determination is the drive and forward motion that takes the solution found with the can-do attitude and pushes it across the finish line.

ENTREPRENEURIAL MINDSET

Entrepreneurs want to build something that's bigger than themselves.  They have a burning desire to leave the world a better place.  Or, at least they desire to leave their children a business to make their lives easier. They get very excited at the prospect of creating a legacy that will outlast their own lives. You don't necessarily have to dream about becoming a magnate of industry, but the best agents have that same kind of push to work hard and create their own destinies.

ENTHUSIASM

I can't emphasize this point enough.  To my ealier point, when was the last time you had a conversation with someone who was so excited on the topic you were discussing?  It was infectous!  That's the type of person people want to be around.  If that character trait is not in you, you may want to find something else to do.  People want to see you excited about your city, other people and opportunities.  They want to see you excited about their search for the perfect home, or your excitement about the opportunity that causes them to sell their home that you may list for them.  About 22 years ago, my wife and I moved to Nashville from Houston.  I have said many times, Texans are like no other American citizen!  Texans love their state, their dog, their flag, their grandma...they are a proud people!  It's infectuous to be around a Texan!  You need to be a "Texan" in this business.  Draw people to your enthusiasm.  If you are a "Debbie downer," please, go do something else.

BUSINESS INTUITION AND BUSINESS SENSE

It helps to have a crystal ball!  Actually, I tell people all of the time that NO agent has a crystal ball.  So, if you can't see into the future, you must at least be able to look at the past and see trends, make educated guesses, and advise people on those gut feelings.  That's the business intuition part of it.

Business sense is more about how to manage what you make and have.  Let's face it, you're not guaranteed a pay check every month.  And most of us are not CPAs.  I learned a very long time ago, that when people make money in lump sums, they tend to spend it in lump sums.  Good agents need to learn to manage their finances well.  Shortly after I got my license, I heard a woman in my office say, don't spend money you don't have.  Lead with revenue.  In other words, don't go out and spend lavishly on new business cards, when you have no prospects for business and no income.  I have also seen agents spend money that they believe they will have coming in next month.  Let's face it, we all thought 2020 was going to look very differently than it has.  There are no guarantees of our future business.  Don't spend what you don't have in the bank.  You'll need to learn to spend beneath means, budget wisely and plan for rainy days to be able to survive. 

Not every agent is top-notch at all of these different things!  But if you think that you have most of these qualities, then you would probably make a great real estate agent.  If so, I would love to speak with you!