Many people complete the necessary steps to become a real estate agent. However, not all real estate agents obtain the skills and training they need to obtain good real estate agent qualities. This is a mistake.
Real estate has always been a competitive industry. However, the recent National Association of REALTORS® lawsuit settlement has the potential to make the industry even more competitive – especially for buyer’s agents. One of the terms of the settlement is that listing agents will no longer be able to advertise a set buyer’s agent commission on the agents-only section of an MLS. Although some sellers may continue to offer a commission to buyer’s agents, in other cases, buyers will be required to pay their own real estate agents out of pocket or engage in additional negotiations with the seller to cover it.
Buyers who know that they will be paying their agent’s fees directly out of their own pockets may be more particular about how to pick a good real estate agent for buying. Here are the traits and skills you must develop to stand out as a top-tier buyer agent.
Traits of a Good Real Estate Agent
Word-of-mouth marketing is an incredibly powerful tool for real estate agents. By developing the following traits, you’ll increase the likelihood of receiving referrals from previous clients.
Expertise and knowledge
Clients seek out knowledgeable professionals. With that said, it’s critical that you become an expert in your niche and your market.
For example, if your goal is to be the go-to buyer’s agent in your community, you need to have a deep understanding of your local real estate market, the factors that influence pricing, and a solid understanding of contracts. Buyer agents for real estate investors need to be able to find properties where investment analysis points toward a reasonable cap rate and cash-on-cash return.
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Excellent communication skills
Communication skills are critical for real estate agents. Home buyers – especially first-time home buyers – often need a lot of support and handholding during the process. In addition, your client must have clear expectations so they don’t blame you if they can’t find their dream home within their budget. You must be able to communicate with them, the seller’s agent, and other real estate professionals.
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Trustworthiness and integrity
As a real estate agent, you will be called to put your client’s best interests ahead of your own. Many states require agents to take continuing education courses on real estate ethics and laws to remind agents of standards of practice and state and federal anti-discrimination laws.
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Strong negotiation skills
Negotiation strategies in real estate differ from those in other industries because buying a home isn’t just a financial decision -it’s also an emotional one. With that in mind, real estate agents need to be able to negotiate with finesse to get the best possible deal for their clients.
Differentiate yourself from other agents in your area by proving your value at the negotiation table. These skills can be learned!
Learn more about negotiation strategies and high-end listings from McKissock Learning’s sister school, the Institute of Luxury Home Marketing.
Attention to detail
Even though juggling isn’t a required skill of a licensed real estate agent, it should be. As a buyer agent, you will hopefully serve multiple clients simultaneously, requiring you to stay on top of the details of various transactions. No one will praise you when the transactions come off without a hitch. However, dropping the ball for one of your clients may reduce your professional standing in the community.
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By taking McKissock Learning real estate continuing education courses, you’ll fine-tune the traits of a good real estate agent. In fact, thousands of real estate agents and brokers turn to McKissock for real estate continuing education and license renewal because our courses help them develop real-world skills that make them better agents. Learn about your state’s real estate continuing education requirements, and enroll in a McKissock course today.
Key Takeaways: Good Real Estate Agent Qualities
- Real estate agents and brokers must meet all the requirements for state licensure, which typically includes real estate courses, an exam, and a background check.
- Additional skills are necessary to become a good real estate agent.
- Expertise and knowledge, excellent communication skills, trustworthiness and integrity, strong negotiation skills, and attention to detail are some traits of a good real estate agent.
