Viewing by month: March 2012

Improve your understanding of Feng Shui

As real estate agents, the successful marketing and selling of properties usually requires a thorough understanding of your audience.  This includes knowing what appeals to, drives and influences people of different age groups, genders, incomes, cultures and nationalities. 


The increasing prevalence of Chinese investors in the Australian residential property is one such market that real estate professionals in many locations could do well to develop more of an understanding about. 


Growth in the Chinese economy, along with the country’s restrictions on lending to the real estate sector and on the buying of multiple properties (in an effort to improve housing affordability and to take some heat out of the real estate market), has forced many Chinese property investors to look at other markets like Australia to continue to build their property portfolios. 


In addition, skyrocketing prices in major Chinese cities have also made Australian housing look increasingly attractive to this buying group, while growing wealth is providing the means for many Chinese investors to look at international purchasing options which may not have been possible in the past. 


As such, there could be very real opportunities for Australian real estate agents to cater to and accommodate this group more effectively, such as through increasing their knowledge regarding practices like Feng Shui – a Chinese tradition that attempts to arrange premises in such a way as to increase prosperity. 


Feng Shui involves a great deal of factors – including the way furniture is positioned in a room, the alignment of features such as doors and windows, the presence of certain objects, the way a room is lit, and the placement of objects such as mirrors and clocks, among many others.  

While there are many Feng Shui principles and recommendations, real estate agents may find that having a general understanding of the tradition could help them attract buyers to their listed properties and give these properties a greater chance of securing the best price.

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 26/03/2012 at 9:52 AM | Categories:

Managing difficult clients

It is highly likely that at some point over the course of a career, real estate agents will find themselves working with one or two clients who have the tendency of making the property selling process somewhat challenging. 

Whether this be due to a personality clash, unreasonable expectations or perhaps a language barrier (amongst other reasons), you as a professional agent will still need to deal with the situation – the sooner you can do so the better the outcome will likely be for all involved. 

 Here are some suggestions for real estate agents working with difficult clients. 


Manage expectations from the outset

It is important for you as a real estate agent to outline your role and the inclusions in your service package to your vendor clients at the very beginning of your working relationship.  If you are clear upfront, then there is a reduced likelihood of upset further down the track when certain tasks (outside of your responsibilities) have not been accomplished.  In addition, in setting up such expectations early, anything you do that sees you go beyond the service you said you were going to provide is more likely to be appreciated, as opposed to being expected.   


Keep your cool and always be polite

If you sense that a situation with a client is getting slightly out of control, or if you find yourself getting angry, take some time to regroup and prepare a careful response.  Getting angry or upset with a client is unlikely to help the situation, rather it may paint you as being incompetent and unprofessional, which is unlikely to be the case.   

If you can work to maintain your composure and a polite disposition, there is less of a chance that your client will find fault with your professionalism, and your calm manner could help to diffuse the situation. 

Deal with issues promptly

If issues arise with a client at work, they are usually best dealt with swiftly, as letting them linger may only inflame a situation or worsen a tenuous relationship.  By addressing problems head on, starting, for instance, with a simple phone call, you may find that a crisis can be averted and you earn the respect of both your clients and peers. 

While it can be hard to get along with absolutely everybody, when the situation involves a client it is important to act in a professional and rational manner.  This will help to ensure that your clients are satisfied with the service you have provided them, regardless of any personal differences, and will see your reputation as a real estate agent left intact, or even enhanced.

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 19/03/2012 at 9:45 AM | Categories:

Is Real Estate the job for me?

There is no doubt that working as a real estate agent can be an incredibly rewarding profession.  Not only do you get to help people as they work towards achieving their property ownership dreams, you could also find yourself surrounded by a set of driven colleagues who create an exciting workplace environment. 

Like every job and industry, a career in real estate won’t suit everyone’s personality.  If you are interested in pursuing the real estate profession, but you’re not quite sure if you’re the type of person for the job, the following questions may help to give you some clarification. 

Are you a people person?
Do you like to be out and about, talking to people, learning about their aspirations, and helping them to achieve these?  If so, real estate could be for you.  

Real estate agents are typically out in the field for a large proportion of the week, whether it be meeting with prospective clients, conducting open homes, negotiating offers, or helping to prepare properties for sale.  This involves interacting with a variety of different people and assisting them with one of the biggest financial transactions of their lives – the buying or selling of a property. 

Are you driven by results?
Real estate is a performance based business, which means while creating activity is important, those who agents who deliver the best sales results will be the ones who build lasting client relationships and achieve the most success. 

Are you happy to learn?
For real estate agents, there is no limit to the self-improvements that can be made or skills that can be learned and mastered, particularly with rapidly evolving technologies.  If you are interested and willing to be in a position to constantly enhance your talents, then real estate could be a good choice for you. 

Are you interested in building a business?
While many people start out as a real estate agent working for a principal in an individual office or under the banner of a major brand, there is significant potential for real estate agents to eventually establish and build up their own profitable businesses, often resulting in substantial success. 

Choosing a career path is obviously a very personal decision and one which requires deliberation.  However if you have answered ‘yes’ to the above questions, then pursuing a role as a real estate agent may just be the move for you.  If you do want to move forward, a good way to get started is to ask questions of other real estate agents about their experiences and to conduct some research into the appropriate qualifications and education necessary for the role. 

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 12/03/2012 at 3:43 PM | Categories:

Understand what you excel at to maximise your competitive advantage

As much as we would like to be, unfortunately not everyone can be good at absolutely everything.  This applies across all industries, not just to real estate.  In order to succeed in your role it is important to identify where your natural strengths lie and how these can be maximised, as well as additional skills that you can acquire and develop.  


Everyone is born with a set of innate skills that if nurtured appropriately, will likely flourish and can be used to your benefit.  Savvy business people will take the time to identify what they are good at and use this to their competitive advantage – as a way to stand out in a professional capacity and to contribute to the companies in which they are involved. 


For example, many people are born communicators, naturally excel at sales, have an eye for design, or could be analytically minded.  Skills, and the possible combination of skills, are endless. 


As well as the advantages you are born with, throughout your career technological developments present opportunities to learn new skills.  A pertinent example for current times is the increasing importance of social media as a marketing tool.  Those in the real estate industry may find that developing an understanding and skill in utilising this process could enable them to stand out in the field.  


As well as understanding where you excel, it is just as important to note areas where you may not be as strong, and to identify how to improve in these areas or whether to work with someone who excels where you do not. 


It is human nature for many of us to have trouble admitting our failings or the fact that we are struggling with a task.  And in the competitive industry that is real estate, agents may fear that by admitting weakness they will miss out on opportunities. 


However, smart real estate practitioners should understand that it can actually be of immense benefit to admit when assistance is required.  Such disclosure will likely allow you to access the assistance of a fellow team member who has knowledge in the area, enabling you to work more productively on a difficult task than if you were to approach it alone. 


Working with someone who excels in areas you do not you can help you to open yourself to education and training in this deficiency, which will likely enable you to grow your skills and complete similar tasks more easily in the future. 


Having an honest and practical understanding of your personal skill set, including what you have achieved, how you have progressed, what you excel at and where you may be able to improve, is essential for real estate practitioners to develop and succeed.  In pursuing your natural talents, maintaining your education and knowing when to ask for help, you will likely be able to build a solid foundation for real estate success. 

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 05/03/2012 at 9:39 AM | Categories: