Viewing by month: December 2010

Never Stop Learning

The American motivational speaker and author of self-help books Dennis Waitley once said, “Never become so much of an expert that you stop gaining expertise. View life as a continuous learning experience.” 

For real estate agents, this is an incredibly important lesson to learn.  Opening your mind to constantly acquiring new skills as your career progresses will be of great help to you in your role with CENTURY 21. 

 Adopting a learning attitude can be loosely defined as accepting a set of attitudes, values and practises which support and encourage a continuous process of learning.  Building or being a part of a learning culture may require a shift in the way you see both your level of expertise and role as a CENTURY 21 real estate agent. 

A willingness to absorb knowledge from different experiences and people around you and then implementing your newly discovered skills can ultimately help you to gain and sustain advantages in the competitive world of real estate.

It is thus also important for you as a real estate agent to find a real estate agency to work in that supports ongoing growth and recognises the benefits to staff of continuous learning.  Once employed, junior agents should try to identify a more experienced agent from whom they feel they could learn valuable skills.  It can also be helpful to all agents, whether new to the game or experienced, to take up offers of training, both internal and external. 

The benefits of committing to a willingness to never stop learning, and subsequently choosing an employer that supports this goal, are immense and can include:  
• Easy adaptation to, and anticipation of, change;
• Increased responsiveness to the marketplace;
• A superior performance as a real estate agent;
• An increased ability to reach your personal goals and thus improved career satisfaction;
• A better salary;
• Improved career flexibility;
• An increased contribution to your franchise’s bottom line; and
• An improved ability to tackle difficult tasks with ease and in a timely manner.   

As a real estate agent it is incredibly important to never stop embracing the learning process.  While you may already be professional and competent in what you do, the market is competitive and other agents will be doing all they can to improve their skills.  Stay ahead of the game and improve the satisfaction you derive from your career by continually striving to be better in your real estate role. 


2 comments | Posted by Reality Bytes - Real Estate Training Blog on 20/12/2010 at 2:59 PM | Categories:

Improving your versatility as a Real Estate Agent

Being a versatile real estate agent is about being capable of doing many things competently and often on short notice.  There is a lot more to this career than being a good salesperson.  Aimed at achieving the best results for your clients, you need to learn to develop your skills and experience as a real estate agent, enabling yourself to achieve results on a greater scale. 

If there is an important element which one must learn to master to become a competent and versatile agent, it is marketing.  Learning how to publicise both the properties you are selling, as effective communication, beyond the traditional forms you may be familiar with is highly essential for you to be able to grow as a real estate agent. 

Given the emergence of the internet as a powerful everyday tool in the lives of today’s consumers, like it or not, being versatile with your marketing skills will usually require the use of the internet to monitor and capture new clientele.  Online strategies can give you a great strategic advantage, whether for property advertising or customer communication. 

If you are a versatile agent you will note here that technology does not replace the need to create client relationships on a personal level.  Hence it is key to cater to the needs of individual clients – potentially offering an in-person relationship for those who require face-to-face contact, while managing virtual relationships with other clients who want less time. 

Being a versatile agent also means you must approach certain situations with an open mind.  During your career as a real estate agent, you may come across clients who are not after a traditional service – they may have a certain cultural or religious difference that makes their selling situation slightly more complex.  As a versatile agent, it is up to you to adapt to this situation, showing your client that you are the most capable agent for the job. 

The ability to think on your feet is a particularly useful skill to have as a real estate agent.  Considering the broad spectrum of potential clients you may come across over your career, you will no doubt meet varying personality types, some who you may get along with, others who may be slightly more difficult to handle.  Ultimately, your professionalism and versatility will allow you to step outside of your comfort zone and do things a bit differently to your usual approach.  Not only will this experience enable you to improve your skills as an agent, your clients should appreciate your having taken the time to work with them so diligently. 

In the end, versatile agents are perceived as being those who go the extra distance for their client and get the desired end result, even if the means wasn’t as was originally expected.  Versatility is a trait that vendors will respect and you should find that your skills as an agent improve as a result of the experience gained. 


0 comments | Posted by Reality Bytes - Real Estate Training Blog on 13/12/2010 at 9:46 AM | Categories:

Getting back to basics - Training Tips from Charles Tarbey

Charles Tarbey, the Chairman and Owner of Century 21 Australia, has over 35 of experience in the real estate industry.  The following tips, penned by Charles, appeared in the November/December edition of Sold magazine. 

Awhile ago a friend invited me to watch a class at his martial arts studio.  It struck me as interesting that for the first hour of the training session everybody in the room performed exactly the same basic exercises regardless of whether it was their first class or whether they were an experienced black belt.  These core moves built further skill in the discipline.

I’ve always thought that the practice of martial arts draws a nice parallel to selling real estate.  Unless agents have a strong understanding of how the fundamental real estate concepts are defined and put into practice they may never become a truly effective salesperson (a black belt if you will).
For real estate agents such knowledge consists of having a solid understanding of the terms: ‘listing’, ‘price reduction’, and ‘listing extension’ - three of the most fundamentally important definitions in the sales process but which often remain misunderstood in practice. 

Many agents commonly fall into the trap of believing that the more listings they achieve, the greater their success will be.  This will only be true if each of the listings in an agent’s books achieve ‘listing status’ i.e. are at a reasonable and saleable price– if you can’t sell a listing today, then realistically it’s just a home on display. 

To get a property signed and sealed today, price quickly becomes critical.  We’re really only ever in one of two markets;  we sometimes see booms, where buyers rise to meet a seller’s high price, and other times we witness periods where sellers change their expectations to satisfy a purchaser’s offer which they may deem to be low. This second period is what we are in ninety per cent of the time – it’s called real estate. 

Price Reduction
The price management process often sees agents announce the achievement of a price reduction on a property, when in reality the outcome has been a price adjustment – the two concepts are very different.   A price reduction requires the lowering of price so that the property achieves listing status, thus becoming sellable today.  Understanding price and the value and necessity of sound price management are concepts that all agents must grasp to be successful.

Listing Extension
At a seminar I spoke at many years ago, upon asking the audience what they thought to be the meaning of a listing extension, one gentleman called out that it was “prolonging the agony”. 

If a listing extension occurs it is essential for agents to immediately get the property down to listing status at that time, otherwise a negative cycle will continue.  The agent may have their listing, but that ‘For Sale’ sign has now been sitting there for quite awhile, signalling failure to many potential clients in the neighbourhood. 

A listing extension shouldn’t mean “prolonging the agony” so long as agents realise that a listing extension is actually an opportunity to practice some price management and deliver a sale. 

When it comes down to it, real estate agents can do the best marketing to improve levels of sales success, but at the end of the day, if the basics aren’t there, results won’t come easily. 

The concepts of listing, price reduction and listing extension form a solid foundation for any type of property transaction, whether it be the sale of a studio apartment or an entire residential development.  Just like the core martial arts moves, understanding these basic real estate definitions will provide you with a strong platform to be an effective agent who achieves consistent sales over the life of your career. 

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 06/12/2010 at 11:31 AM | Categories: