If “you can’t teach an old dog new tricks” applies to your real estate agents, you’re barking up the wrong textbook. In fact, in the fast-paced world of Australian real estate, having the wrong attitude can backfire on you – big time.
Despite what you may have been told, you never stop learning. Choosing to think you do is a big mistake. Agents need to undergo continuous training throughout their careers so they can stay on top of the constant wave of fresh, budding talent entering the game.
Knowing which areas to focus on, however, is sometimes a case of too much work, too little time. If you’re stuck on where to start, here are 4 of the most important areas your agents need to be focusing on:
1) Industry Legislation
This is one you really don’t want to slip up on. You might think you know the ins and outs of the laws regarding real estate, but these are updated on an almost monthly basis. All it takes is one slip-up and you’ve left yourself open to some serious damage.
If your agents don’t keep up their knowledge, forms could be completed incorrectly and sales could fall through. It’s mistakes like these that hit the wallet hard.
2) Sales Tactics
You might have the best play in the game, but customers aren’t robots. They’re people, and they grow wise to sales tricks. Where fear of missing out might have worked a charm 10 years ago, buyers are now far more likely to know their worth and shop around the market for the best property for their money.
Whether it’s improving their listing language or buffing up their negotiating skills, your agents should constantly strive to improve their sales tactics.
3) Keeping up With Technology
Technology is altering the way agents, sellers and buyers deal with transactions, so your agents need to try and keep up with the industry as it changes.
It’s moving at a rapid rate, which means even experienced agents run the risk of being left behind if they don’t stay on top of key developments.
4) Economic Movements
Keeping updated on current trends by watching banks and economic forecasts is essential for any real estate agent. Your customers will be making some of the biggest financial choices of their lives, so it’s up to you to know the economy and help them through the process.
To be successful in real estate, knowing how and when the market could turn is a great weapon to have in your arsenal.