
Selecting the right real estate broker is not an easy task. Hence, before you start hiring, you must list down the qualities you are looking for to carefully evaluate them during the recruitment process.
If you can’t figure out what exactly to look for, don’t worry — we’re here to help you out. Here are the top qualities you should consider when hiring a real estate broker.
Professionalism
A professional real estate broker is someone who shows up on time and works efficiently in any field. These are two of the most significant factors that can impact the career success of any individual. It is also crucial that the broker is polite, receptive, and respectful.
Moreover, successful brokers do not wait for clients to call them. They take the initiative to monitor their appointments and meetings to provide the best service possible. Most professional brokers are willing to adjust their schedules for their clients as well.
Strong Negotiation Skills
The property buying or selling process can be complicated. Thus, hiring someone with excellent communication and negotiation skills is critical. A real estate broker’s job is to understand the demands of the sellers and buyers. Buying or selling a property is a financial and emotional decision. A skilled broker can acknowledge and understand their decision on an in-depth level. Some of the other things they must know include:
- The purpose behind the buying and selling of the property
- The buyer or seller’s time frame
- The flexibility of their client’s pricing.
Before proceeding to the negotiations, the broker should know that the buyer is qualified and financially-stable to buy a property. He or she must also establish a tactic or strategy to achieve the highest possible property’s value for the seller or lowest price for the buyer.
Relationship Building Skills
When hiring a real estate broker, you need to know if they can build a strong relationship with their clients. Instead of focusing on expanding your network, it is more important that they can authentically have a stable relationship and communication.
If the broker has excellent relationship-building skills, their previous clients will most likely refer new clients to them. Many brokers succeed in real estate through referrals. It is difficult for the brokers if they look for new business all the time. Referrals ensure that the brokers did their work well.
Without connections, your business will fail. A broker must know how to nurture relationships because it is directly related to their success. Hence, to gain their loyalty, your broker must know how to communicate and give rewards to their clients in the past.
Exemplifies Integrity
Integrity is an essential value that brokers must possess because it describes the principles that they live up to. By practicing integrity, it means that they are honest in their words and actions. Besides honesty, a broker should also possess qualities like being self-aware, accountable, and responsible so you’ll know if they are someone you can count on. You can see that a broker possesses this quality if their clients stay or come back to them.
Integrity may be challenging to attain because there’s no specific way to achieve it. One thing that can help you check this quality is if the broker has a clean record of sales. You can also check it by asking the broker specific questions that you think can reveal their values and personality. By doing this, you can see how they work and treat their clients behind their backs.
The reason why integrity is an essential quality of brokers is that it prevents mistakes from happening. Lies, cheating, corruption, and negative actions should not be welcomed in any work area.
Exercises Loyalty
Another quality that you should look for in a broker is loyalty. A good broker should always think and act in the interest of their client. They should always ask you what you want, listen to your concerns and preferences, and give recommendations to achieve your goals.
Loyalty also comes with good communication. Communicating with your broker should be easy, so both of you can decide appropriately on what actions to take. This will keep you involved in the process, and you can check if they are working well. Discussions are highly significant in maintaining loyalty because you should be able to voice out your thoughts and opinions to your broker.
In addition to communication, your broker must be able to tell you the last things you want to hear. This is related to demonstration integrity because you don’t want your broker to sugarcoat everything, especially if there’s a problem. By doing so, it would be easier for both of you to carry out discussions and create decisions since you’re aware of the progress and challenges that you are experiencing.
Has a Reputable Sales History
The business industry is very complex and difficult to understand. That’s why a broker who already works in the industry for years should be experienced and knowledgeable. Having a reputable sales history is significant for you to assess the performance of the broker. By doing so, you can check if they are reliable and if they are experienced enough to assist you.
There are also times where a broker is new to the industry, but they have a good sales history so far. Remember that their skills and abilities are greater than the length of their work experience.
You can ask your brokers about their sales history, so you can check how they work and treat their clients. Aside from their sales history, you should also review their strategies and the duration of the deal. This information should help you determine if they are a reputable broker by being an effective and efficient worker.
Knowledgeable in the Business
Aside from experience, a broker should also be knowledgeable in the business. Besides giving suggestions, they should know how to negotiate, marketing, and do administrative work. By being knowledgeable, they have an idea of how to answer complex questions that you might ask. Take note that they should help you understand what they’re saying, so you can easily share your thoughts and opinions.
By being knowledgeable in the business, your broker must also know how to market themselves. This shows that they can be independent and can create discussions without the help of another broker. Having this quality indicates that the broker is passionate about their work because they take time to learn and develop themselves.
An example of this quality could be when you tell your broker what you want. If they already have an idea where to look for a house with the things you want (e.g., nearby school, shopping malls, hospitals, etc.), it’s a good sign that they are a knowledgeable broker.
Street Smart
In the real estate industry, being street smart is just as crucial as being book smart. We all know that buyers take their time to examine a particular property, and a street smart broker can use this as an advantage. If a broker knows the strengths and weaknesses of the area, then they can market properties better. They can also cater to their strategy based on the needs of the clients. As a result, clients have sufficient information to help them decide.
Clients appreciate brokers who are hands-on and attentive to their needs, especially when it comes to knowing the in and outs of the neighborhood. An agent must have ample knowledge about different places and the factors that can affect their client’s investment.
When it comes to a new place, a broker must be able to adapt to the location. Even if it is unexplored territory for them, they should have carried out prior research to help their clients.
A broker who is street smart can pitch properties even better because they know all about the best schools, restaurants, malls, and other places in the community. If you want to hire an effective real estate agent, find one that can explore the local scene and knows the directions by heart.
Straightforward
A broker who is straight to the point is often undermined in real estate. Most of the time, we appreciate a broker who is always positive and acts as if everything is going smoothly, but this trait is only helpful to an extent. An agent should not beat around the bush and instead face the issue right away.
As the famous saying goes, honesty is the best policy, which heavily applies to dealing with clients. A real estate agent must handle the truth about any situation and communicate it to you properly. When clients have unrealistic expectations, brokers may find themselves in a tricky situation. Even though it is essential to please clients, they must remain transparent and present nothing but facts, whether about the price, paperwork, or even the time it takes to complete a task a good broker can accept and admit when there is a problem.
A straightforward realtor can openly and politely tell you about the current situation and how to address issues as soon as they emerge.
Solution-oriented
When building your team of realtors, look for those who are solution-oriented. They must be able to solve difficult problems and think of a plan, especially during situations under pressure. A solution-oriented agent can bring in more clients and increase success rates because they can address any issue that comes their way. You may identify their problem-solving skills either through a test, interview, or a background check so you can determine if they are competent enough.
When a client deals with a problem, the broker should immediately take care of it. No matter the situation, real estate brokers must be proactive and prepared for different kinds of issues. Problems can arise at any time, and having a solution-oriented mindset definitely helps in alleviating the situation.
What if the marketing strategies aren’t working anymore? What happens if the repairs are slow? Why is my listing not getting enough attention? These are some problems and even unforeseen circumstances that can be detrimental to your clientele. The capacity to present a creative and feasible solution is one of the most important qualities of a broker. Moreover, they must also provide solutions to different issues, even if it is the first time they have encountered it. A solution-oriented broker trained to think fast on their feet.
Detail-oriented
Many clients have different demands that need a keen eye and great observation skills. Along with being a good listener and fast thinker, a real estate broker must be detail-oriented. Being a seasoned real estate broker means being able to cater to the diverse needs of your clients.
When the client starts to list down or ramble on about their goals for the house, a good real estate broker will immediately focus on details and organize accordingly. By doing this, real estate brokers can gain more trust from the clients and close more deals.
Tenacious and Hardworking
Most of the time, people are more likely to put their faith in someone who is dedicated to what they are doing. Being a well-trusted real estate broker entails having an amazing work ethic that reflects your industry knowledge. Apart from this, you will also benefit greater from a tenacious real estate agent, as they persistently market your properties towards success. Beyond putting in their time, commendable real estate brokers also put in their effort in order to mark a deal done.
Good Communicator
One of the most common issues in the real estate industry is bad communicators when it comes to real estate brokers.
In order to find a real estate broker you can rely on, one that regularly updates you is the key. To scout for a real estate broker that’s a good communicator, ask how they’ll ensure you’re informed and how often they will do so. They must answer with your preferred frequency and communication style.
To take it up a notch and ensure you’re getting what you desire, you may also ask their past clients regarding their experience. Remember, regular updates are a must.
Expert in the Housing Market
Apart from being designated in a certain area, real estate brokers also have specializations in a certain community.
Having an actively engaged local market expert allows you to know all the inside information that you need to know about the place you’re aiming to live in.
Readily Available
Being in the real estate market means having all hands on deck. When you buy or sell a home, you have a large financial transaction on hand, sometimes even the largest. This is why it’s imperative to have a real estate broker that’s readily available full-time.
Imagine this: you hire a part-time real estate broker who’s not used to handling clients on a long-term basis. How will they be able to negotiate appropriately with others? How will they be able to correctly price your home when they haven’t had much experience with others in general? Finally, if they have another job, how will they address problems with you that happen simultaneously?
Prospecting and Lead Generation Skills
As a real estate broker, you cannot close a deal without looking for potential clients and generating continuous leads. One of the essential skills a realtor must have is the ability to prospect clients. Leads will not show up and fall on your lap easily, and brokers should know how to maintain their pipeline by prospecting correctly.
In hiring a broker, ensure that they know who is their ideal prospect. Instead of going around and communicating with everyone, they should create a list of their ideal prospect’s qualities. Here are some of the qualities they should consider.
- Buying Power or Capacity
- Motive of Buying (Investment or Personal-Use)
- Center of Influence
Besides that, they should know how to conduct a sales pitch. There are four lead generation components in the real estate industry:
- Lead Capture
- Lead Magnets
- Qualifying Leads
- Lead Segmentation
Before, generating leads can be done through flyering and building rapport. But nowadays, we transitioned into digital marketing, allowing realtors to generate qualified clients. In the quest for real estate brokers, make sure they know how to navigate these lead generation:
- Social Media Advertisement
- Content and SEO Marketing
- Email Marketing
- Referral Reward System
Objection Handling
In any sales industry, there will always be customers that object to your claims. This is the main reason you need to find a real estate broker who can handle clients’ objections. They must know how to prepare for questions and complaints and how to maintain posture in answering them.
One of the things they should do is to listen attentively to the clients. Make sure they do not react based on emotions and refer to facts. If there are issues, the realtor must know how to respond and resolve them. Once they have managed the objections, they also need to learn if the answers satisfy the clients.
Presentation Skills
A professional real estate broker should know how to present the project details or property features. After getting leads, they can set an appointment, visit the project location, or hold a meeting through online applications. Presentation skills include knowing the highlights of the property.
They must also be knowledgeable about the accessibility and mode of transportation around the area. It can also be helpful if they know what amenities are offered in that project. Are there any pools or parks within the area? Also, is it accessible to key locations, such as malls, markets, and hospitals? These features can elevate the chances of closing the deal.
The Perfect Real Estate Broker
These are the important qualities that your broker should have. Finding a competent broker may be difficult, but the skills they bring to the table are definitely worth it. Brokers do not simply attract potential buyers and fix the paperwork; they can ease the entire process of selling and buying a property.
That is why you should find a broker who can satisfy these standards.
In the process of hiring a broker, you must scrutinize their expertise and dedication. You are putting a lot on the line, and real estate is not an easy industry, so spend as much time as you can to know them better.