The life of a real estate agent is not as easy as what many people actually think.The agent has many responsibilities which vary from simple administrative duties to difficult marketing activities.The life of a rookie agent. can often involve 12-18 hour workdays.It is a career that can be quite lucrative depending on the effort given by the agent.In Singapore,there are many agents who earn millions of dollars yearly but these group of people are usually the minority of a larger group of people who barely struggle to make it through.
The real estate agent is required to market their properties through placing advertisements in the newspapers,open houses,launching direct mailing programmes,conducting telemarketing and other processes.The agent has to ensure that he knows how to quality prospects so as to ensure that they are are financially capable of buying their properties.
The agent will spend time generating and studying lists of properties for their buyers so as to ensure that their needs and budget are met.When the agent is sure that the buyer is ready,willing and able to buy a property,the client is then brought to view several properties.It is not uncommon usually for agents to let their clients view 3-5 properties until a decision is made.There is a fair degree of time management involved as the agent has to juggle the client’s scheduling along with that of the seller’s availability for appointment.
The agent also has to ensure that the seller does not price his property above the rest of the surrounding properties.It is the responsibility of the agent to ensure that proper research and study on the valuation of the surrounding property is done.Sometimes the agent is required to negotiate on the price given by the buyer with the asking price of the seller.Strong negotiation skills are a must for this career.
In many cases,the agent has to make arrangements for the client for moving their furniture and even renovation that needs to be done.There are many times where the client will often ask the agent to help look for a good contractor or mover during the moving process.The agent also has to coordinate between lawyers and bankers between both buyer and seller to ensure all documentation are done properly.The whole process sometimes can take weeks or even months before everything is completed.
Most rookie property agents come into the industry and get burned out within 3-6 months.This is usually what happens.Many are led to believe that this is a lucrative industry but the truth is that only the very best who are willing to put in the long hours prospecting for clients and learning constantly are able to do well.