FASTEST WAY TO MAKE MONEY AS A REAL ESTATE AGENT
There are several ways to make money in real estate as an agent. Just like a traveller would take different routes such as road, water or air transportation to reach his destination, so also could a property agent make money through different means. Depending on the route taken, the traveller could get to his destination early or late. In the same vein, what determines the pace at which a realtor could generate quick and consistent cash flow depends on the routes, strategies, devices and steps He or She take.
There are seven basic ways to help you maximize success as a real estate agent!
1. APPROACH A DEVELOPER OR SOMEONE WHO WANT TO SELL HIS PROPERTY:
Who is a developer?
A real estate developer is a person or firm who develops raw land or redevelops existing sites by bringing life to it. They either work on their own account, or they can offer their services for a fee. Real estate developers create structures that serve the needs of our society and reflect our communities.
Developers may have a challenge of selling their property. Because they don’t want the challenge of selling their properties i.e. apartments or building after completing a housing project, they use real estate agents to market their product(s).
So, the idea is that as a real estate agent, you need to understand the perspective where a developer comes to play and try to play your own part as an agent. Note that not everybody will be a developer and not everybody will act as a property agent.
There are several developers in every state you can approach. In Lagos State, for instance, we have developers like Middlechase, Landwey, Revolution plus etc. All these developers are looking for people who can sell their product. You can confidently approach any developer and tell them “I want to sell for you”. They will not reject you because nobody rejects a salesperson or an agent; every developer welcomes a property agent with their arms wide open since you are coming to solve a major problem of sale for them. However, before you start selling for a developer or real estate company, find out about their credibility and commission structure.
2. THINK OF PARTNERING WITH OTHER REAL ESTATE AGENTS:
Another fastest way to make money as a real estate agent is to partner or join registered real estate associations. To scale you up faster in getting good deals in real estate since it is all about building relationship and networking, as an agent, you need to start thinking of “forming strategic alliances or network”.
The power of networking cannot be underestimated. Most agents get deals because they belong to a real estate association or club. Even the scripture says “one will chase one thousand and two will chase ten thousand”. This principle also applies to real estate. Alliance can open new possibilities that may not have otherwise been available and can make it easier to build up a profitable property portfolio in a shorter time frame.
Some of the advantages of investing partner include leverage, shared responsibilities and also an avenue to combine skills, learn and grow. When twenty people are talking about a particular product, for instance, it begins to go viral and everyone comes to hear about it. So it’s not about you doing it but also creating a platform of a network for that product and doing this requires you joining other real estate realtors.
There are lot of other real estate groups springing up today which probably weren’t in existence in the last few years. Groups like Real Estate Millionaires, PWAN, Achievers Realty Group, Naija realtors etc. It is to your own advantage to join one of them.
The SuperStar Promo is still on….
3. SEE EVERY CONTACT YOU HAVE AS A CONTRACT:
Treat every contact as your contract. Everybody on your list is a potential client or will lead you to a client. Don’t see your contact as mere phone numbers but clients. We make mistake by thinking that there is nothing our contacts can offer us other than the mere exchange of pleasantries. Some of your contacts may not even have the money to buy what you sell but they may have a connection to people that will buy your product. So, if you treat them with respect, they will help you to advertise your product in the ears of people that will purchase it or even recommend you. It is needless however to say that you must compensate their effort after getting a deal from them. An attitude of gratitude determines your altitude in the journey of real estate.
4. UNDERSTAND WHAT IS CALLED VIDEO MARKETING:
Video marketing is using videos to promote and market your product or service, increase engagement on your digital and social channels, educate your consumers and customers, and reach your audience with a new medium. Through video marketing, you appeal to people through visual images. It’s been proven over time that people buy faster when they see what they want to buy.
For instance, In the popular reality TV show- Big Brother Naija, you realize that after all housemates have started living together, some of them begin to see themselves as future partners in no time. What is that force driving them? The power of visual. This is because human beings have been wired naturally to get attracted to what they live by and see constantly. Psychologically, Visual also affects our thinking pattern, feelings, emotions and how we relate.
If you have a piece of property to sell, take a video of that property with your phone and promote it on social media platforms and Google. You will be surprised how that video will go viral and the number of engagement you will get. Don’t wait till you get an expensive camera before shooting a video of your product. Your phone is enough! Let your phone become an asset. Remember that the more your product is known by people, the better the chances of selling it quick even at a good price and to achieve this, video marketing is one of the best ways to reach out to a wide range of eyeballs who are interested in your product.
RELATED: HOW TO ANALYSE A RENTAL INCOME DEAL BEFORE YOU INVEST
5. YOU MUST MEET FIVE PROSPECTS DAILY:
It is important to say at this point that real estate is a game of number. The more you can reach out to people about your product, the better your chances of success. It’s not enough to do sponsored ads or paid adverts, you must also follow up on your leads that you have generated. The people who see your video ad must be harvested in such a way that you want to have physical contact with at least, five of them per day and create an appointment with them. You could meet them at the site, their offices, homes or any place of convenient. Irrespective of where you want to meet them, your target as real estate agent should be to meet with five of these prospects daily in order to make consistent sales.
The more people you meet, the more your capacity to be able to earn consistent cash flow in real estate. Money doesn’t just fall into your lap; It comes because you are meeting the required numbers.
Use these questions below as a guide when you are doing your math:
How many people have I met today?
How many appointments have I made today?
How can I increase the numbers of my prospect daily?
6. NEVER EVER DISAGREE WITH A PROSPECT/ CLIENT:
There is a popular statement in the word of marketing that says “Customers are always right”. As much as this sound to be true, some schools of thought suggest that customers are not only right but they are KING. You may think that customers are always wrong but to be successful as a real estate agent, you must come to the realization that every customer is right in their own way. You must be able to put yourself in their shoes and get into their minds to really know why they reason differently.
At times, their perspectives may be wrong due to the platform they are standing on. So as a real estate agent, you need to constructively correct and patiently persuade and lure them into your own perceptive. For instance, a client calls and says He wants a two-bedroom flat with seven kitchens which you probably don’t have on the ground. Instead of yelling at him, you rather should let him see the reasons why He should go for your own product and the benefits of investing in it.
Never get to the point where you’ll disagree with your client. Some clients are very critical, inquisitive, adamant and demanding. To deal with this kind of people, you need to be extremely patient. As an agent, your duty is to bring them down and not criticize them but rather make them understand your position.
7. GET YOURSELF A REAL ESTATE COACH OR MENTOR
Above all, to make money in real estate, you must have someone who serves as a source of inspiration to you. There must be someone you are looking up to and also, aspiring to be like in the industry.
A mentor is a person or friend who guides a less experienced person by building trust and modelling positive behaviours. An effective mentor understands that his or her role is to be dependable, engaged, authentic, and tuned into the needs of the mentee.
Look for an individual who has experiences and is already excelling and making money in the real estate business. The power of mentorship brings you to a state whereby you begin to think, see, and also act as your mentor. Getting a mentor also makes one to be determined in life and shifts a fixed mindset to a growth mindset; turns a mediocre ability to a life of excellence; changes a failure-oriented person to a result-oriented fellow.
Aspire to be like Donald Bren who has about 60,500 apartments, Grant Cardon, Donald Trump etc. These people have achieved tremendous results in the industry and they are worth listening too if you truly want to succeed as a real estate agent.
There are lots of free mentorship classes around but all you need to do is to humble yourself and approach anyone whom you know can guide you. Ask the person to mentor you on how to position your business. Sometimes it may require you doing the unthinkable and your humility may be tested based on your disposition or attitude.
Do you find this article interesting? leave your comment below.
For more information: www.middlechase.com and on Instagram: www.middlechase
