When considering any new job, thinking about what your day will actually be like is an important step. Will your everyday tasks be motivating?
For real estate agents, each day is unique. You own your own business and are responsible for a broad range of tasks. Essentially, your time will be spent obtaining, meeting, serving, and managing documents for clients, either buyers or sellers. But much more lies beneath the surface of these income-generating activities. Depending on the sales you have in process at any given time, each day will unfold in a different way, and you will have to balance your tasks according to the day’s priorities.
[Ready for a new career opportunity in real estate? Start now.]
These are some of the responsibilities that real estate agents must manage day-to-day to maintain an active and successful business.
Selling property is the main revenue driver for your business and the most crucial to your profitability. Your days will be occupied with planning, scheduling, and spending time onsite for in-house showings, open houses, and meetings with buyers or sellers.
- Meet with sellers or buyers and develop an understanding of their requirements and needs from you as a real estate professional.
- Prepare listing and advertising information for sellers, including indoor and outdoor photos.
- List new properties with the appropriate agencies.
- Stage homes as needed to optimize selling potential.
- Coordinate and attend home showings and open houses with buyers.
- Negotiate selling prices for either your buyer or seller.
- Guide clients through the buying or selling process. Many clients will look to you for your expertise, and you will need to patiently explain the system again and again to new clients.
[Get some insight from a practiced professional: Becoming a Real Estate Agent: Lisa’s Story.]
As a business owner, you will spend significant time promoting yourself in the real estate sphere. Your marketing strategy is a constant effort, even when business is going strong. A savvy salesperson is always thinking about keeping the pipeline for future business full.
- Create and execute a marketing plan using traditional and digital tools. Your marketing strategy will likely include print advertising, flyers, a website, and social media channels. Creating, printing, and posting these marketing messages should be part of your work routine.
- Develop relationships through personal networks and cultivate new relationships. You will spend a good deal of time talking with potential buyers and sellers, including people you already know.
[Marketing courses for business owners can help you set the right strategy.]
Behind the scenes of securing property sales, real estate agents still have basic office work to maintain. These key functions fuel your business and enable you to spend time on the face-to-face activities that generate revenue. Some agents opt to hire an assistant to help with these routine tasks.
- Stay up-to-date with property listings, prices, and market activity both in your area and in the industry in general, including first-hand information from your peer network of fellow agents and brokers.
- Correspond with current and potential clients and respond to email and phone calls.
- Search listings and daily bulletins to find appropriate properties that match your clients’ needs.
- Handle paperwork, document submissions, contracts, and business finances.
- Regularly update your website, social media, and blog to keep your information fresh and accurate.
[What do you think? Are You Ready for a Career in Real Estate?]
Every real estate professional has continuing education requirements to remain licensed in your state. You will find that developing your skills is both exciting and professionally rewarding.
- Take required classes periodically to meet your state’s relicensing regulations.
- Read industry blogs and news to expand your practical knowledge and hone your best practices.
Each day you will juggle a few or many of the responsibilities that keep a real estate business running. This balancing act takes a proactive and independent personality that is motivated by a fast-moving and dynamic day-to-day working life.