You don’t necessarily need a specific personality type, a particular background, or the same goals as those around you to find success in real estate. It’s a wonderful profession for many different kinds of people.
However, despite their differences, successful real estate brokers often master similar skill sets that give them an edge over their competitors. What are those real estate broker skills? Keep reading as we’ve compiled the ten most important ones for you to develop.
Learn more about the skills needed post-NAR settlement by listening to this discussion between two industry experts.
Key Takeaways
- Effective communication, teaching, punctuality, and personalized client care are essential soft skills for building strong relationships and ensuring client satisfaction in real estate.
- Adapting to new technologies and honing negotiation skills are critical for staying competitive and effectively managing transactions in a constantly evolving market.
- Staying informed about local markets and industry trends and networking with other professionals is vital for positioning yourself as a trusted expert and staying ahead in the real estate industry.
- Ongoing education and professional development are crucial for maintaining your competitive edge, meeting licensing requirements, and ensuring long-term success in the real estate profession.
Top Real Estate Broker Skills
Here are some skills you can work on to improve your chances of succeeding in real estate. We’ve divided our list into three subgroups: soft skills, strategic professional skills, and industry knowledge skills.
Soft skills for real estate brokers
“Buying and selling houses can be stressful, and it’s important for the agent to make sure that the client is feeling supported and happy,” said real estate agent Lucy White in an interview on RealEstate.com. Our first four skills center on how to do this.
1. Develop expert communication skills
Every client has a different preferred method of staying in touch. Text? Email? Phone calls? Whatever it is, ask your client at the start of your relationship to ensure you get it right.
Then, make sure you keep your clients informed. Tell homeowners about offers immediately. Inform buyers when a property enters the market that meets their qualifications.
Being able to speak and write are critical soft skills for real estate brokers in Washington. Use AI or grammar tools to ensure your written communication is effective, and practice speaking with other real estate brokers in your brokerage.
2. Grow your teaching skills
When it comes to real estate, you’re the expert. Elements of the buying or selling process might seem mundane or second nature to you but might be entirely foreign to clients new to the industry.
Anticipate what might be confusing to your clients. Go over every detail of the process and contracts. Patiently answer their questions and provide helpful resources.
How do you improve this soft skill? You must understand a concept to teach it. That’s why quality pre-licensing courses are critical for new brokers.
Also, practice explaining the buying and selling process to your family and friends and improve your patience. You’ll get better at explaining things with time.
3. Be on time
This one sounds simple, but real estate professionals must be on time for appointments. Whether showing a house to prospective buyers or meeting with clients with a property to sell, arrive at the appointed time. Time management is critical to ensuring all your customers walk away happy.
4. Find your homegrown touch
Every broker has a way of showing clients they care. Think of it as your “homegrown touch.”
Some people remember birthdays or special milestones in a client’s life. Some are good at offering clients tips on where to get the best cheeseburger in their new neighborhood or who to call for handyman services.
Whether you show you care by sending pizza to your clients on move-in day or by dropping by with a holiday gift, show them they matter to you. As the saying goes, “People don’t care how much you know until they know how much you care.”
Strategic professional skills for real estate brokers
As a real estate broker, you must stay organized and be able to negotiate effectively. Here are some professional skills to help you in this industry and others.
5. Adapt to new technologies
Don’t be afraid of new technology; adapt to it. The tools offered by the real estate tech industry can make staying organized in your job easier!
Attend every tech training your brokerage or local real estate association offers. Attend national events for real estate brokers to learn about the best new tools.
6. Hone your negotiation skills
The truth is, you will need to be able to negotiate on behalf of your clients – and with your clients. Real estate commissions have always been negotiable, but more of your clients are aware of this fact following the recent NAR lawsuit settlement.
Become better at real estate negotiation by enrolling in RENI – the Real Estate Negotiation Institute. RENI offers two certifications related to negotiation: Certified Negotiation Expert and Certified Buyer Agent Expert.
Industry knowledge skills for real estate brokers
You have to know a lot to be a real estate broker in Washington. But, unlike some professions, the knowledge you need to function as a real estate broker constantly changes. Washington real estate regulations and laws may affect the contracts your clients must sign and the rules you must follow when listing a home for sale.
Here’s how to stay current in the real estate industry.
Download this free video for more advice about becoming a real estate broker and demonstrating your unique skillset to clients.
7. Stay abreast of what’s happening in your local market
Real estate professionals have a better chance of success when they have an intimate knowledge of the neighborhoods in which they work. Familiarize yourself with schools, new zoning laws, bylaws, local businesses, bus routes, and other elements necessary for people moving in, out, or within your neighborhood. This way, you can position yourself as a local market expert your clients can trust—not just an outsider looking to profit from a transaction.
8. Stay updated on industry trends
Stay updated with what’s happening in your industry, including mortgage rates, laws that affect real estate brokers, and everything in between. The best way to do this is to read trade publications daily. Here are a couple that are highly regarded:
- Inman News: This site covers marketing, industry regulations, mortgage news, and general industry updates.
- Realty Times: This publication covers real estate news and has an advice section for consumers and brokers.
- The Close: The Close provides real estate agents with actionable strategies and information about marketing, lead generation, technology, and real estate education.
9. Network with other professionals
Networking is critical for growing your client base and getting to know your community. However, networking with your competition can also help you stay current on local real estate happenings. Meet periodically with other brokers, builders, mortgage professionals, and others related to the industry.
10. Continue your education
The best in their field are always learning. Of course, you must take continuing education courses to fulfill Washington’s real estate licensing requirements. However, it’s critical that you take your coursework from a real estate school that offers helpful content and advice. Rockwell Institute is a provider of quality real estate education. Whether you still need to earn your Washington broker license or are shopping around for the best deals on real estate continuing ed, you can depend on Rockwell Institute.
Rockwell Institute also offers specific training in real estate negotiation. Learn how to streamline closings and maximize profits by learning negotiation strategies used in S & P 100 corporate negotiations!
