There are many skills you will need to be successful in the Real Estate industry. One of the most essential skills would be people skills or the ability to engage and communicate effectively with clients. If you are the type of person that starts a conversation with the person in line with you at the grocery store then chances are you possess these traits. Real estate is a people business. The more people you converse with the more contacts you will make resulting in more sales. A colleague of mine stated: “Real estate is a conversation” This statement has great merit considering most buyers or sellers use an agent that they already know and rarely will pull out the yellow pages to find an agent.

Some computer skills are also needed but even a novice will be fine. The real estate industry has certainly utilized the technology available today yet much is web based which requires little technical abilities. Managing your database of clients will most likely be the most challenging job for you if you are not familiar with contact management programs. Many agents use Microsoft Outlook which comes with most computers or you can purchase programs such as “Top Producer” which is a contact management program geared specifically towards real estate sales.

Self-motivation and a true drive to succeed is definitely a necessary component. When you enter the field you will most likely join a company in the status of an independent contractor. In other words you are in business for yourself. You will dictate your hours and daily activities. Usually in the training you will initially receive you will be guided on how to draw up your business plan that will state goals and the activities needed to reach these goals but it will be up to you to make sure you are doing what is needed to reach those goals. Your broker will guide you and mentor you but it will be up to you how well you do and you will be rewarded based on your efforts. They say, “ No one ever fails in real estate, they simply give up”.

Communication Skills are on the top of the list. As a Real Estate agent you will be representing both buyers and sellers in one of the biggest investments of their lifetime and the clients will be relying on your skills to properly communicate all terms of the contract and buying or selling process. Many times agents will throw in their two cents worth rather than listening to the clients needs and the true message can get lost in translation. The buying and selling process has become quite complex in comparison to ten years ago. It used to be “Caveat Emptor” which meant “Buyer Beware” but in today’s marketplace the buyer now is faced with the duty to fully investigate the property they are purchasing. This is done through home inspectors and researching area information. It is the realtor job to fully communicate to the client the importance of due diligence when buying especially.

Sales Skills are also quite important. Sales are sales some say but in the real estate industry it’s not about selling the product, as you cannot make someone buy something they do not want. Take for instance car sales. Here the dealer has something you want and they know it, so they have you in a position that is very often uncomfortable because you do not have a lot of negotiating and they play games with the price and financing. When it comes to selling homes the Realtor is more of an information conduit. All agents have the same inventory to sell so why are some agents very successful and other struggle? The difference is the knowledge they have acquired through research and market knowledge. I always use this analogy: You walk into an electronics store and are looking at televisions. You ask the salesperson: “What is the difference between these two TV’s I am looking at as they are both the same size yet one is a thousand dollars higher in price?” The knowledgeable salesperson will be able to tell you without hesitation about the features of each that justifies the price difference and you feel confident that they know their product. Yet if you asked the same question to a salesperson that replied:” Gee I don’t know, let me try to find out” you would probably say: Is there someone here that can help me and you wonder why you even need this persons help as they are no help at all. What it boils down to is knowing your product. Though sales skills are needed to often help clients make a decision it’s not always about pushing a specific property. Some say it’s often luck but luck is opportunity meeting preparedness.

Analytical Skills play a small part and too much can cause you to stall. Have you ever thought about buying something and you compare and analyze so much that you become hesitant to follow through since you have thought too much? This is true in real estate. Since there is so much information out there especially through the Internet a Realtor can bog down the buying process through over analyzing a potential purchase. These skills are good for providing comparable sales in an area to justify a contract price but too much analyzing can be detrimental since often the buying process is more of an emotional decision.