At the beginning of every real estate career, in the heat or heart of negotiations it is inevitable that every real estate agent will hear these words, ” I have been in the business for more then 25 years! I think I know what I am talking about.” As well, the ever – dreaded question that rolls off of a potential clients lips, ” How long have you been in the business?” It’s enough to make any newly licensed real estate agent want to throw in the towel.
I can speak from experience when I say this, as being a relatively young real estate broker owner. When I started out as just a real estate agent, I was… really young. So the benefit of “time served” was pretty impossible. Now, looking back and having been through my share of experiences throughout my real estate career, I see very clearly the inaccuracies in those statements and questions.
The real estate industry is in constant evolution. There are regular legislation changes and always fast paced technological advances. Past experience cannot, and does not always indicate superiority. In fact, it can in some cases be a detriment. Old habits, fear of change are quite common afflictions to well seasoned professionals. In any industry. So you can see, in real estate “knowing what you are talking about” doesn’t necessarily ring true due to your length of time in the business.
Where the strength of every real estate agent comes from is their knowledge. Experience will come with time yes, but knowledge will help lead you to the experience you seek. Expanding your knowledge as a real estate agent is very easy. Information is at your finger tips every where you turn.
Here are some ways to start expanding your knowledge base as a real estate agent:
KNOW YOUR MARKET
I mean, really know it. If you are specializing in a certain area make sure you know what homes are selling for now and what they have sold for historically. This information is right at your finger tips using the systems and data provided to you by your local real estate board. Learn about neighbourhood amenities. What is the average style of home in your market? Area demographics? Know all of this and then some. It is also vital to know the current inventory. When a client asks you a question, answering it with true and up to date knowledge will set you a part from the rest even if the ink still hasn’t dried on your license yet.
KNOW, AND FOLLOW THE RULES
Depending on where you are the rules can vary. Just know them. This will keep you well equipped when facing tough questions and even back lash from other parties. When you are well versed on the rules and what can, cannot, should or should not be done you can adequately inform the consumer. This is what they want you to do. This is what they are paying you for. Sound knowledge on how to play the game trumps hours in all day long.
Even those who have been around the block cannot and do not know everything there is to know about a real estate career or the industry itself. If you are honest about not knowing the answer to every question you are asked, then you are genuine. For pete-sakes, don’t make it up! Follow your honesty with a promise to do the research to find them every answer they seek and you are well on your way to a very knowledgeable and professional real estate image and career.
No matter where you are, in any industry you are going to face adversity. ESPECIALLY if you are young coming in to an industry once known as “old boys”. Like real estate. The key word being “once”.
Know your stuff, know the rules, and be perfectly honest always.