12 Defining Traits that Separate Real Estate ‘Professionals’ from Real Estate ‘Hobbyists’

August 12, 2021 Uncategorized

Are you all in? Or are you just sorta dabbling in real estate, hoping for what you’ve heard is quick, easy money?

Both of these personas exist in our industry.

But only one has longevity… the real “professionals” will always outlast the “hobbyists.”

Which begs the question: What does it take to become a true “professional” in real estate?

I’ve identified 12 traits of a true real estate professional.

How many of them do you live up to?

Real Estate “Pro” Trait No. 1

They set goals, write plans, and execute on their plans

This one’s simple enough. Obviously to achieve big things requires goal setting and a business plan for how you’ll achieve those goals.

Then it takes the discipline to actually execute your plan instead of getting distracted and pulled in a million different directions.

Real Estate “Pro” Trait No. 2

They have a strong work ethic, a “whatever it takes” spirit

Remember what I’ve been saying and what we see from our coaching members’ experiences: 10% of success is knowing what to do and how to do it. The other 90% is actually doing the work.

If you’re not willing to work, if you tire easily, if you’re not fully committed… you’re not going to rise to the level of a true real estate “professional.”

Real Estate “Pro” Trait No. 3

They use technology to improve efficiency (speed) and provide a better experience for their clients (convenience)

If you caught my podcast with Summit keynote speaker Seth Godin yesterday, you know that being “pretty good” isn’t good enough. You need to be providing the type of service that wows your clients and gets them talking about you.

That’s what professionals do.

And they do the same thing when it comes to making things easier on themselves – by investing in technology to improve efficiencies in their business.

Is your tech really moving the needle for you, your team, and your clients?

Real Estate “Pro” Trait No. 4

They are good listeners & approach each customer with empathy, understanding, and respect

Put yourself in the consumer’s shoes. Make an effort to understand what makes them unique. Meet not only their housing desires but their emotional needs.

Stop talking and listen.

Real Estate “Pro” Trait No. 5

They are knowledgeable about the process and know how to guide clients successfully through real estate transactions

Most agents probably say this one is a no-brainer.

But what about when variables get introduced… how broad is your scope to successfully guide people through a transaction when there are “outside the box” factors involved?

My point here is that you should never become content that you know it all, because there’s always a new twist to encounter coming around the bend.

Keep learning, keep growing, keep improving how you do things. Always.

Real Estate “Pro” Trait No. 6

Professional realtors set realistic expectations for themselves and their clients – they don’t promise what’s not possible or reasonable

Professionalism is all about taking a long-term perspective. Hobbyists and hacks set themselves up for failure – or at best, short-term success – by overpromising and under-delivering.

A recent 1000watt consumer survey found that “Open, honest communication” is the number one thing people are looking for to gain trust in their real estate agent.

Professionals provide honest, straightforward advice to prepare people for the realities of what they’re likely to face… and then they build long-term relationships with those clients in the process.

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Real Estate “Pro” Trait No. 7

They delegate, when possible, to focus on their highest and best uses of time

You’ve heard me talk about your HABU – highest and best use of your time.

But have you taken it to heart? Have you delegated tasks that someone could be doing for $20/hour to allow you to conduct more “dollar-productive” business? Have you explored hiring a Virtual Assistant to take the heavy workload off your desk? Have you systematized your business to free you up to focus on what matters most?

Real Estate “Pro” Trait No. 8

They market themselves and their homes for sale in a modern way. Using the best tools and mediums (MLS, video, direct mail, online ads) to generate the most exposure and hyperlocal response

It’s difficult to be a professional if you’re spending most of your time chasing new business.

That’s why having effective marketing attraction systems is so important.

When your marketing is automatically delivering a steady stream of new and returning clients, you can focus on providing the exceptional experience that keeps them coming back and referring you to their friends.

If your marketing plan isn’t performing, I invite you to speak with one of our expert business consultants to help overcome the challenges you’re facing.

Real Estate “Pro” Trait No. 9

They’ve properly positioned themselves online, Google My Business, the portals, to all relevant social sites

Have you maximized your Google My Business page? If not, download this today.

Are you engaging with people on social to grow your accounts?

Are you posting consistently?

Do you have a social media posting schedule or do you just “wing it”?

Professionals have this stuff handled. Do you?

Real Estate “Pro” Trait No. 10

They respond to inquiries quickly, recognizing consumers expectations are “now”

Today’s consumer expects an Amazon-like experience.

Push a button. Easy peasy. Results delivered overnight.

Is it a fair expectation with something as complex as real estate?

Doesn’t matter. That’s what they want, and it’s your role to respond immediately.

And “I’m too busy for that” isn’t a valid response.

Figure it out, or one of your competitors will figure it out and put you right out of business.

Real Estate “Pro” Trait No. 11

They know their local market, neighborhoods, schools, home price trends and all reliable home service providers

If you’ve been paying attention, I’ve been saying that agents should make studying the MLS part of their morning routine every single day. There’s no better way to make sure you’re dialed in when it comes to what’s selling, what’s not, how long properties are on the market, etc.

Beyond that, I urge you to involve yourself in the community you serve and give back in a variety of ways – whether that means donating time and/or money to local causes or making videos informing people of local happenings and market conditons.

Make yourself the “knowledge broker” in your market and share your expertise with the community.