In today's market, the role of a real estate agent has changed. A real estate agent provides many different services and can be considered an expert in his or her field. As such, they have taken their expertise to new avenues.
Real estate agents are no longer simply people that sell houses for a commission; in fact, the number of house sales is insignificant to the services they now offer. According to recent data from RE/MAX, a real estate agent in America sold an average of 17 homes every year and earned $69,000 annually.
As with anything that becomes at the forefront of operations, there are bound to be other developments. As such, there has been a spike in the number of real estate agents who are offering other services. Today, real estate agents sell both properties and financial investments on behalf of their clients.
To summarize what they do, a real estate agent:
- Takes care of transactions when new homes or apartments become available on sale; may also draw up contracts with prospective buyers.
- Advises clients about the best time to buy, sell or invest; they also know what price is reasonable and can negotiate deals with both parties.
- Negotiates between clients and landlords when renting a property or a house/apartment; may also represent tenants in court.
- Helps clients find reliable and trustworthy service providers (that include painters, electricians, etc.) to help with repair and maintenance.
- Calculates taxes and advises customers on how much they should be paying based on local regulations; may also advise when they can claim any tax deductions.
- Helps clients obtain loans for the best interest rates and lowest monthly payments (for both houses and cars); takes care of the paperwork involved.
- Helps clients find and hire workers to help them with odd jobs such as lawn mowing, assembling furniture from Ikea, and general repairs; may also advise on how much they should be paying.
- Advises clients when buying/selling stocks or other financial products; look for the best interest rates and lowest fees.
- Advises clients on what to do with their money when making more than they can spend in a month, but less than they need all year long; may also help them decide whether to invest in bonds or gold/silver (and where).
Alongside these services, real estate agents also help clients find reputable information, products, or services when it comes to:
- Home improvement (including mortgages); - Home repair and remodeling; - Legal assistance; - Insurance of all kinds; they can even advise if a person has any coverage that would apply for accidental damages.
🏁 SKILLS / EQUIPMENT REQUIRED
Ability to Negotiate; Active Listening Skills; Problem-Solving Skills; Integrity; Communication Skills.
💸 AVERAGE PAY
$0 - 10 000 monthly
✅ Cheap to start
✅ Good networking opportunities
❌ Might be hard to start
❌ Can get very stressful
❌ Need to build a personal brand around it
🔥 TIPS FOR FINDING CLIENTS
The real estate industry is a tough one and to succeed you have to be creative. Here are some things you can do to get that all-important client.
Even if you are a fresh, new real estate agent, you will still need to get some clients to be able to pay the bills. You can approach real estate agencies and ask if they have a client who needs help, or you can advertise locally.
It's important to get your name out there, so why not even add some posters and advertisements on local bulletin boards?
People are always looking for new properties, and if you can offer them a good service they will love your help.
It's also important to add some social media like Facebook/ Facebook groups and Twitter into the mix. You can use these websites to get people interested in you and your work, which will then lead to them calling you.
You don't always have to focus on the big real estate agencies. You could also approach small businesses and sell them a property if you feel confident enough.