Working as a real estate negotiator (REN) can be daunting for those who are ill-prepared. Newbies to the industry may begin to feel demotivated after falling into the common pitfalls when working as a property agent in Malaysia.
Here’s how to avoid the common pitfalls a property agent faces:
The amount of guidance a new property agent receives may vary depending on their agency’s initiatives. As the saying goes, “Fail to plan, plan to fail”.
That being said, one should take the added initiative to make a business plan with short-term and long-term goals to be achieved within a given timeline.
These goals should include career-specific objectives like calling a targetted number of leads by the end of the week and knowledge-based objectives such as reading a certain amount of books or property related articles within a month.
Plan ahead financially
A fair amount of travelling is required as property agents have to meet clients, attend Continuous Professional Development (CPD) seminars and organise home viewings.
Combined with the uncertainty of income, failing to budget ahead can lead to further financial struggles in the future. When sales do come in, be sure to set aside some savings for a rainy day.
If you’re struggling to keep track of your daily expenses, try using an expense tracker app such as Money Manager available on the Google Playstore. Otherwise, the good old Excel spreadsheet or paper notebook will do.
Treat everyone as a potential client
Everyone you meet will at some point in their lives need to buy, sell or rent a home. There are basically two parties to every real estate deal, and while you need to look out for your client’s interests, it is essential also to foster a good relationship with the tenant/ buyer.
Irresponsible agents often leave a bad impression so affected tenants are likely to refrain from using them again. You never know. Someday the tenant could be a big potential client, so it is good practice to leave a favourable impression.
Update clients on the progress
Getting quality leads that translate into viewings can be challenging especially in the current climate. Nevertheless, it isn’t an excuse to give clients the silent treatment.
Updating clients on enquiries received or viewings done should be a habit to make clients understand that you are actively working hard.
Not only does it make clients feel involved and assured, but it also fosters a relationship of trusts rather than abandonment.
Use the right marketing tactics
The StarProperty’s 2019 Buyer Sentiment Survey (BSS) revealed that property portals remain the most popular source for property listings followed by social media.
Listing properties on the agency’s website might not yield the noticeable results that property portals can do. This is because the latter embarks on comprehensive content marketing efforts, complex Search Engine Optimisation (SEO) or expensive Search Engine Marketing (SEM) campaigns.
Through property portals like StarProperty, agents can leverage on the power of digital marketing to cast the net as wide as possible.
Instead of building a personal social media following, which can be cumbersome and takes considerable time or expense, agents can take advantage of the social media postings offered by StarProperty in the March Mania promo package.
To enquire about the current packages offered by StarProperty, drop us an email at firstname.lastname@example.org