What you need to know
- Communications & Technology
Buyers and sellers alike demand a highly connected real estate agent to handle their most valuable asset. Being connected doesn’t just mean within the community but also being easily accessible and have an online presence as well. The real estate professional must have a full arsenal of mobile office capabilities in order to do business in our connected society.
- Sales and Marketing
Sales and marketing activities are essential to your success in the real estate industry. There are a large variety of marketing tactics that real estate professionals use to market and sell properties.
- Customer Service
The best business strategy of all is a satisfied customer. With the advent and use of the internet as a go-to means of finding quick and easy information a realtors role has changed in the 21st century, but nevertheless it is still needed and much sought after.
- Staffing & Employment
One of the many advantages of being a real estate agent is the ability of being an independent contractor. Whether you are a broker in charge of many real estate agents or perhaps a real estate agent that has a personal/virtual assistant; personnel management can be a big part of your business operation.
- Billing and Accounts Receivable
Unlike other jobs where a steady pay check is received, real estate is based on commission therefore it is important to have a good budget in place and recognize what your monthly and annual expenditures are versus income.
- Vendor Relations and Purchasing
As a real estate professional it is important to align with other affiliated service providers to make available a number of extended resources to your clients. Everything from insurance agents, mortgage lenders, home warranty professionals, and others should be part of your business model.
Real estate agents and brokers personify the phrase "small business" at its most basic. Typically flying solo, with perhaps an office worker or two, these professionals are on their own when it comes to protecting business assets and income from financial catastrophe.
- Social Media Best Practices & Applications
Social media is an integral part of a realtors marketing and communication to existing and potential clients therefore it is important to have a thorough understanding of its power and also detriments if not done correctly. Managing a social media presence takes time and care but can pay back in dividends.