To thrive in real estate prospecting as a real estate agent, you need to know what’s happening in the real estate industry today. Over the years, the traditional way of providing realtor services has given way to a more modern approach, bringing dramatic changes in a relatively short time. Here’s a look at how the changes happened and how realtors provide services now.
How Real Estate Has Evolved
Long ago, everyone sold their own homes. There were no realtors to act as house-buying services or home-selling consultants. Then, the real estate profession emerged, and buyers and sellers could work with real estate experts. More recently, the first MLS listings and later the MLS syndication changed the industry significantly.
Pre-Syndication
Here’s how the evolution happened. A few decades ago, MLS listings were not syndicated. Agents didn’t have today’s technology and lacked many tools they now have. Therefore, they had to work harder to find out information about a home. Buyers went to open houses, checked out print publications, or looked at window displays to find properties.
After MLS Syndication
Then, along came the foreign element: MLS listings were syndicated. This event changed everything for real estate agents, home buyers, and sellers. Suddenly, realtors could use the MLS to market properties and show buyers and prospects details and images of each home. Now, buyers can look for their homes online. This could have dealt a massive blow to real estate agents. However, the profession adapted, and agents now learn to thrive in the new situation.
Four Ways to Thrive in Modern Real Estate
Suddenly, real estate agents had to rethink their processes. With so much information readily available, they needed to find a new role for themselves. In Roadmap to Success: Prospecting, you can learn many ways to thrive as a realtor. To start, here are a few real estate prospecting strategies you can use.
1. Sell Yourself
When the real estate industry started, agents sold real estate based on their access to the listings. However, today, buyers can simply go online to see real estate for sale. Sellers can use FSBO sites to sell their homes on their own. What do they need you for? That’s the question you must ask yourself. Your goal is to have a clear plan for providing services buyers and sellers can only get from you, their real estate agent. Then, sell yourself as the ideal agent to fulfill that role.
2. Ask the Right Questions
As a new realtor, you have likely answered many questions already. That was how you got your real estate license. However, now that you are an agent, you will ask questions as often as you answer them. It’s the only way you can provide the best services.
You must ask excellent questions to nurture your prospects and serve your customers well. Anyone can take down their name and address. However, real estate agents who do well in the industry know how to get relevant information. You need to ask direct, specific, and detailed questions.
Start by writing down a list of questions to help you know what your buyer or seller needs, wants, and expects. Then, grab a friend or coworker and practice the questioning process. Don’t just ask a question; listen and think of a follow-up question.
3. Curate Information
We live in the age of information. The internet offers incredible data on buying or selling a home. Beyond that, there is much information about individual homes. Your prospects, buyers, and sellers could find this information if they choose to do so. However, it’s a lot of work, and they don’t have the expertise to discern what home or buyer best matches their needs and wants.
You find the information for them as a service and to nurture leads and prospects. Start by honing your research skills, work on communication skills, and share what you learned with your prospects and clients. Bring them the information they need, and you become their hero.
4. Know How to Get Referrals
Every real estate professional knows that getting referrals to build your business faster. How do you gain referrals, though? You do it by giving your clients an outstanding customer experience. First, find out what they want and need, then help them find their ideal home or buyer. This work pays off in huge rewards because you have shown value to everyone you serve.
Be Ready for More Change!
Modern real estate is already very different from traditional home selling or buying. Who knows where the future of real estate is headed? So, you must stay ahead of the changes with continuing education and experience. Take real estate training courses locally or do online real estate courses.
Whatever you do, be ready for Change. As Benjamin Disraeli once said, “Change is inevitable. Change is constant.” Just remember: intelligent real estate agents use Change to their advantage to become the titans of the industry. From today’s modern real estate industry to whatever the future holds, staying on top of the changes can make you a winner.
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