16 Must-have Skills For A Real Estate Agent

It takes good skills for a real estate agent to convince people to take the plunge and invest despite the uncertainties. However, just like any industry, real estate continues to face challenges.

This is where a good agent comes in – where you come in.

Do you think you’ve got the skills of real estate agent? The fact that you got into the industry means you have the knack. You only have to improve what you’ve got to emerge a winner in this competitive paradigm.

There’s no argument that the demand for property ownership is always high. In fact, it is the only commodity and necessity in this world that appreciates annually.

The number of people needing homes is constantly increasing while the ones who can afford them are sadly decreasing even more. This makes it difficult for real estate agents to land clients. 

To succeed in this business, you must hone your skills and show them that you can make it to the top. Take a look at the skills and ways you can follow to succeed and thrive in real estate despite the challenges and stiff competition. 

Here Are the Skills a Real Estate Agent Must Have 

Of course, it takes more than 16 skills to become the best real estate agent, but this is only the beginning. You will first focus on the list of skills below and hone and perfect them before moving forward to discover other skills and strengths you can tap on. 

1. Communication Skills

Among the skills real estate agents need, having communication skills is one of the top priorities. Why? Most of the real estate agents’ tasks involve communicating with many different people. 

There are many kinds of agents, some with specific demands while others are open-minded. On the other hand, there can be many potential buyers in the process, and only one is needed to close the deal. That process involves a lot of talking, texting, chatting, and body language reading to complete a single sale. 

How to Improve: 

If you want to improve, assess the extent of your communication skills. Start with these four areas of communication: 

• Verbal
• Non-verbal
• Active listening 
• Written

Find out which you lack the most and look for applicable practice methods that you can work on to prepare you for the actual job. 

2. Problem-solving Skills 

The skills of real estate agent have a lot to do with problem-solving. The moment you present yourself to a client, the problem begins. You must break the barrier they are creating so they won’t agree to buy anything.

If they are interested in what’s being presented, most clients will not let you know at once. They would want better deals that they are hoping you will give if you are feeling resistance. 

How to Improve: 

Just do your job. You are in the business of selling. The only way to improve is to keep doing what you do, even though it means stumbling many times before closing a good deal. You will only learn from your own mistakes. How can you learn if you are too afraid to commit them? It’s okay to stumble in the beginning. Mastery will come in time, and you will get better as you talk to more people, whether or not they’d buy.

3. Honesty and Integrity

Honesty and integrity will take you places in any industry, including real estate. What will you do with too much money when you get them from screwing clients?

Buyers will know when they are dealing with honest people. They will reciprocate the honesty and give you the deals they can afford. It is also through honesty that you can build your integrity. 

Once you have built a solid reputation, buyers will eventually come and look for you than the other way around. So while starting, keep these two traits in mind and work on developing them real hard.

How to Improve: 

Be true from the beginning. Be you – the side of you who cares about the welfare of your clients more than anything. Be honest with them and tell them what they are getting into. You can also give them options for what you think suits their needs. In this business, you must not always have your eyes on the money. You have to become someone valuable whom people trust and seek.

4. Excellent Marketing Skills 

Since real estate is a business, one of the skills needed to be a real estate agent is marketing skill. Real estate agents are expected to have excellent marketing strategies because the competition can be stiff, and the trends in the market are constantly changing. 

For example, the traditional means of marketing are no longer the norm. Nowadays, they also have to include social media marketing, SEO, email marketing, and other types of modern marketing tactics into their campaigns.

How to Improve: 

Aside from enrolling in marketing courses, you may want to adapt to the current trends. If you haven’t noticed, most marketing specialists are leveraging the power of the internet. You can learn through research, or you can attend classes online. If that is too much for you, seek advice about marketing from other experts in the digital industry. 

5. Great Negotiating 

You’ll get a cut called ‘commission’ in every successful sale. The higher value of the property you can sell, the higher your commission will be. The key to making it happen often is to develop excellent negotiating skills. 

How to Improve: 

Part of the skills for a real estate agent is excellent negotiation. Before meeting a client, you must know everything about them and the property you will discuss. This way, you can point out the benefits of buying the property while weighing the cons. You have to be clear with them from the start. Listen to what they say and start negotiating by meeting them halfway if you need to.

6. Technological Skills

You have to take advantage of the digital world to level up your sales. Promote who you are and your business on various online platforms. Make your virtual presence felt. Many of your competitors are already doing this, so it is only fitting to start getting technologically savvy. Discover all the possibilities you can do online to level up the real estate agent skills needed to master.

How to Improve: 

Explore. Start with your phone by creating accounts on popular social media platforms. You have to make your presence felt in the virtual world. It will help to create a website where you can post updates and make it easier for probable clients to reach you. 

You can explore how to advertise using social media, use messaging platforms for communicating with clients, conduct virtual tours, and master the customer-relationship management (CRM) tool.

7. Active Listening Skills 

Active listening is when you listen to someone who is talking while observing and absorbing physical cues. This is not limited to body language reading and projection. It continues with how you respond after the speaker is done talking and how you handle dead air. 

How to Improve: 

Active listening may seem simple, but it is one of skills needed for real estate to develop consistency. Sometimes paying attention is not enough. You need to learn how to ask the right follow-up questions, make the conversation lively, and pick up clues if the potential buyer is interested or not. 

This skill can enable you to eliminate your clients’ doubts and establish a level of assurance while giving potential buyers the freedom to express themselves. 

8. Teaching Skills 

Truthfully speaking, you are expected to know it all if you are a real estate agent. From the property’s details to the financial obligations after the sale, a real estate agent must convey information to clients in an understandable manner, similar to how teachers explain concepts to their students. That is why having teaching skills can be an advantage.

How to Improve: 

Teaching is complex and requires people skills to successfully impart the information to the intended listeners, which in this case are the clients. Since teaching is a skill, it can be learned and improved. Think like a teacher and always come prepared when presenting to a client. You have to research so your explanations will be based on facts and not hearsays. 

9. Local Knowledge 

Most potential buyers’ concerns are about the property’s surrounding environment. They might ask if the neighborhood is peaceful if they’re buying a residential house. If they are interested in a condo unit, they might have questions about the leisure centers and workplaces nearby. Part of the skills of real estate agent is understanding all aspects of what you are selling, including its surroundings.

How to Improve: 

Research and ask around. You also have to spend time within the locality to observe the state of the area during the different times of the day.

Here are the usual areas that most potential buyers will be asking about, and you have to learn more about:

• Establishments (market, school, hospital, etc.)
• Public transportation
• Ordinances, regulations, and penalties
• Neighborhood atmosphere
• Legal concerns (taxes, crime rate, etc.)

By explaining these things to your clients, they will have an impression that you know what you are selling and that they are in good hands. 

10. Management Skills 

Management skills are one of the skills for a real estate agent on a micro-level. This means that as a real estate agent, you mostly manage the aspects that affect yourself, such as schedule and preparation, rather than other people. 

This is especially true when it comes to money management, as being a real estate agent is an investment in itself. There can be unexpected expenses that you might accrue while on your job. 

Then there’s the fact that the real estate market can be rather volatile at times. This means that your income will be unpredictable for the most part.

How to Improve: 

Management skills may be complex, but you can do it. As the business grows, you can always opt to hire more people to manage certain tasks for you. You can also outsource management jobs if you already have too much on your plate. One of the best options is outsourcing. Hire a virtual assistant based remotely, but who works efficiently in making your tasks lighter.

11. Real Estate Knowledge 

Being a real estate agent is a profession. If you want to be good, you have to master the craft. You must continuously study the trends and research the properties, especially in your locality. You can’t be stagnant in the field. Always remember that someone might best you out of a deal for superficial reasons, such as not knowing when the nearest mall opens or who owns certain properties. You have to know. You have to keep yourself updated and use the knowledge in your profession.

How to Improve: 

Learning new information is the only way to improve your real estate knowledge. Be updated on the latest news and trends. Utilize the internet to keep up with the times and the numbers. 

12. Time Management Skills 

Time management is one of the real estate skills needed like any other job or business. Although most agents have flexible schedules, your client’s trust is the most important thing here. Being punctual, doing things before the deadline, and making the most of the available time are some of the time management skills that a real estate agent must regularly perform. 

How to Improve: 

Time management is best done by having a concrete schedule. Use all your knowledge and experiences to make the schedule more practical. It includes having spare time for adjustments. Emergencies can happen anytime, and it will be beneficial if your schedule accommodates changes fluidly. 

13. Great Work Ethic 

To be a successful real estate agent, you must have a great work ethic. It’s a competitive world, but it doesn’t mean you have to step on people’s toes to move forward. You also have to keep to your word. You can’t promise your clients heaven and make them experience hell once you have closed a deal. It’s important to work hard, but never forget about compassion and empathy toward other people.

How to Improve: 

If you apply all the skills of real estate agent consistently, your work ethic will eventually improve. Continue to strive better while maintaining your integrity. Do not be consumed by the luxury of success or the stress of competition. 

14. Read Body Language Skills 

What skills are required by estate agents aside from communication? You have to learn how to read body language. When encountering dozens of people as potential buyers, there will be physical cues that indicate whether a deal can happen or not. Recognizing those cues will significantly save your time and effort. 

How to Improve: 

If you want to improve your body language reading, be more observant. Sometimes, one physical cue can be enough to describe the disposition of the potential buyer. There are also other cases wherein a person is hard to read. You can do some simple and subtle experiments to confirm your theories. 

15. Networking Skills 

What skills are needed for real estate agents to build gain more clients? 

You have to work on your networking skills. You need to meet people, potential buyers or not, and talk to them. You never know, but someone not interested in buying knows someone who may eventually be your client. 

How to Improve: 

Although the real estate industry is very competitive, your business won’t get hurt if you make a few trusted friends. Here are the ‘friends’ that you have to include in your network:

• Home inspectors
• Staging specialists
• Professional craftsmen
• Mortgage lenders
• Lawyers
• Real estate agents (whom you can recommend if a buyer seeks things outside your scope)

Remember to bring some value to the table when contacting your network.

16. Real Estate Law Knowledge 

Knowledge of the law is one of the skills for a real estate agent often taken for granted. You may not be a lawyer, but it doesn’t mean you can’t learn about the laws. Do your research, and try to learn the most you can about the laws regarding the industry you are in.

How to Improve: 

Read books and newspapers. You can also search online about the legal matters involving the real estate industry. When you process the legal documents of your sale, try to ask questions to your lawyer about the things you want to know more about. 

What are the best qualities of a real estate agent?

Being passionate about the industry and having the necessary skills for real estate agent are the best qualities of a real estate agent. They must also be open to improvement. There will always be trends in the economy, legal matters, and properties. You have to keep yourself updated and know the latest about the industry.

What are Realtor skills? 

Marketing, communicating, and vast knowledge about real estate are some of the important realtor skills. You have to know how to express yourself fluently and with mastery of the property. However, you must also know when to keep silent and listen. 

Conclusion: 

Do you think it’s easy to master these 16 must-have skills of real estate agent? It is as long as you put your heart into it. The faster you learn, the more sales you will close. The better you get, the more passionate you will become, and you may even start to question – what are the next skills to learn since you’d want to find out more.