The real estate business sees different people playing different roles. These include mortgage brokers, bankers, home inspectors, contractors, appraisers, property managers, and many others. That doesn’t even count the seller, and potential buyers, for any property listed. The various contributions they make are too numerous to list, but they are all very important. One thing that remains constant: it’s the Real Estate Broker who ties it all together. That’s right, he or she calls all of these different people where necessary, to meet the customer’s needs. They facilitate communication between all the people involved and keep track of progress. So the question is: what are the qualities of a top real estate broker?
Many people can become real estate agents of one type or another and start a career in real estate. Only a select few make it to the top. One of the qualities they require from day 1? The ability to wear several “hats” at once. At various stages of the process, a great broker alternates between consultant, buyer advocate, salesperson, analyst, and negotiator…to name a few. Naturally, not everyone is born with the ability to juggle all of these tasks at once. Some skills are instinctive, some are taught, and some we copy from other successful people. However, just like in other fields, certain characteristics keep coming up when studying the best real estate brokers.
PASSION
It is extremely difficult to succeed in this business without sincere and genuine passion. Long hours, hard work, persistence, and commitment to long-term goals top the list. You don’t accept so many rejections and you keep working that hard, without passion. Enough talk.
ENTREPRENEURIAL SPIRIT
It’s not just about getting rich, it’s the intangibles: self-initiative, endless motivation, strong drive, free thinking, patience, and good instincts. Staying open to new ideas—because you’re not convinced you know it all—allows you to learn. Cooperating with other city corridors allows joint efforts in the future. Putting your motivation to grow the business ahead of your ego.
Being your own boss is a lot easier than it sounds, but it’s not for everyone. Only those with a desire to control their own career destiny. Succeeding in real estate requires a great deal of “guts” and a risk-taking attitude. Lastly, be persistent and tenacious, without being annoying to the other side. These are the qualities of a top real estate broker.
GREAT COMMUNICATOR
This doesn’t just mean the ability to speak freely, sound polite, or know how to answer a phone or compose an email. This also refers to passing on important details to the right people and leaving unnecessary things to others. It’s a regular flow of information by phone, text message, email, or whatever means the customer prefers; while expressing itself effectively in each. Saying more using fewer words is also one of the qualities of a top-notch real estate broker.
BE POLISHED
Punctual, well dressed, well groomed, using the right language, chewing with your mouth closed and always maintaining class and sophistication. Most of this category is superficial, indeed, but the exterior is what makes the first impression. This also includes not receiving another 7 phone calls or texts while you meet your new client for coffee. Stay confident but never arrogant.
PART TIME PSYCHOLOGIST
There is so much emotion involved in real estate transactions, especially residential ones, that removing the human element is nearly impossible. This means that reading people, both what they say and what they don’t say, is crucial. Reading your customer’s cues and nonverbal behaviors allows you to better understand their needs.
There are so many things that they won’t tell you externally, but from the little signs you need to get an idea of:
The time frame of a client. Are you in a hurry?
The true motivation to buy or sell, which affects your decisions.
Are they more price sensitive than they are willing to admit?
Who is the opinion leader in a married couple?
How much information becomes too much?
Know when to use humor to lighten the mood.
WIDE NETWORK
Another of the qualities of a first level Real Estate Broker. They start with a small network of people (family, friends, etc.) but have the ability to grow very quickly. This is done in many ways, and the most important are:
1- Be a sociable person, don’t be shy to introduce yourself.
2- Surround yourself with the best professionals in complementary businesses.
3- Stay true to your word when asking clients for referrals.
MOVE QUICKLY
A top real estate broker returns calls and emails at lightning-fast speed, recognizing that every lead to a new client or scoop on a property is invaluable. They make immediate contact and always follow up as time is of the essence to keep that contact “warm”. They are the champions of fast communication and use technology all day. THAT IS TO SAY. Don’t fall asleep on the switch, lest your new customer think you forgot about him.
PATIENCE
Everyone in this business eventually learns that this is a marathon and not a sprint. Many seeds are planted, months and even years, before the crops can be harvested. Most cold calls to solicit new customers are answered with a “No,” and most views don’t end with a sale. A top-notch real estate broker also needs to deal with a lot of interesting characters along the way: some unreliable, some dishonest, some eager, some indecisive, and the list goes on. The utmost patience is needed with customers who ask as many questions as humanly possible, then stop to think of a few more. This is normal and part of human nature. Another quality of a top-notch real estate broker is the patience to answer all questions and stay on the phone with nervous clients for as long as it takes.
ALWAYS PROSPECTING
This absolutely has to be one of the best qualities of a top real estate broker. This refers to finding new leads, or prospects, on a regular basis. How to do it could fill an entire book (or at least another article) on its own. For now, let’s just acknowledge that you can never have too many leads in your portfolio. The well can “run out” for anyone at any time, and there is no shortage of ways to prospect in our day and age.
Technology has added so many media to traditional television, radio, magazines, newspapers, and billboards. The number of web-based tools available is almost uncountable, but suffice to say that a real estate website and a strong social media presence are absolutely essential. There are also specialized lead generation platforms that could make life a lot easier. A top runner uses them all.
BEING A “NEIGHBORHOOD EXPERT”
Local knowledge is extremely important among the qualities of a top real estate broker. Not only will you save time searching for listings and answers to specific questions, but it also provides immediate outlets. Nearby schools, day care centers, sports stadiums, churches, local shopping malls, and public transportation are all great seasoning for the dish that a broker is serving up to shoppers in your neighborhood. Knowing what developments are coming is even more impressive. Future plans for a region are useful, as is knowing the history. Don’t be thrown off by a question about an old graveyard or last year’s water contamination problem, from a buyer who’s done their homework.
A broker who shows they’ve never done business in that part of town looks like a beginner (even with years of experience elsewhere), and that doesn’t inspire confidence in anyone.
ORGANIZED AND ORIENTED TO DETAILS
This is absolutely essential to manage a busy schedule. If a runner can’t keep his correct hourly commitments, he’s already lost. If electronic tools don’t work for him or her, he should have an old-school agenda book in his or her pocket. The more appointments they keep and the more phone calls they return, the more impressed their clients and contacts will be.
Attention to detail can mean all the difference in closing a sale. A top real estate broker knows that the smallest changes can make a property much more attractive. They are creative with their beautiful real estate listings and take the best pictures of each home. Spotting the key details in the houses they deal with can give a broker the edge in negotiations.
Some of this can be taught, some just comes naturally, but these are all the qualities of a top real estate broker. Dealing with a credible and established real estate agency definitely helps your chances of becoming one or finding one as a client in your city.
