Being authentic in your business is the best route to building trust. When you have the integrity and confidence to stay true to your values as an agent, you’ll win the respect of those around you and most importantly, of your clients. Never shy away from showcasing your true personality, whether in person or while promoting yourself.
In real estate, you are responsible for your business. While your employer may give you leads or inventory, it is your job to convert these leads and manage the inventory. This is where your sales skills and communication skills come into play. Managing your business means managing your prospects, leads, listings, clients, marketing, etc. It takes commitment and consistent effort to see success.
A Customer Relationship Management (CRM) system is software that allows you to add contacts and manage your leads along the sales journey. A CRM helps you keep track of new prospects, plan follow-ups and manage your tasks effectively.
Our state of the art CRM Brokerpad™ provides you with all the tools needed to manage your real estate business.
D: Drive And Determination
All agents have targets and objectives. However, it is agents with a higher level of drive and determination that put in the consistent effort needed to achieve these targets and objectives. Creating a plan and adopting a positive mindset is key to building your determination and staying focused on your objectives.
The real estate market is rapidly growing and continuing education is essential to keep up with the changing market and consumer behaviour. Education helps you learn new skills and gain the confidence necessary to practice these skills.
Our interactive workshops at Bayut Academy are designed to equip you with the skills needed to succeed in the UAE Real Estate market.
F: Fair Market Value
Fair Market Value (FMV) is the price that a property currently sells for in the market. It is the price that is agreed upon between a willing buyer and a willing seller and implies both parties have reasonable knowledge of the relevant facts. Always stay updated on the current FMV in your area and ensure you educate both buyers and sellers with this information.
This information is available on Profolio™, under the Insights tab.
Goal setting helps you clearly identify what you aim to achieve and stay motivated throughout your process to achieve the goal. This provides you with a long term vision and helps you plan what to focus your time and efforts on.
We suggest using SMART Goals to set meaningful goals and analyse your progress.
Real estate is one of the biggest purchases your clients will make in their lifetime. Gaining their trust is extremely important. One of the best ways to do this is to provide honest information and advice.
Be transparent and educate clients about market conditions. If you are unable to answer their questions, commit to finding the answers and following up.
Showcase your expertise by analysing Insights. Our listing management software, Profolio™, gives you access to Market Insights. This feature gives you data on popular areas, average prices and ROI (based on data from Bayut’s listings).
You can also access Transaction Insights, where you can access last sold transaction data straight from the DLD. Share this information with your clients to help them understand market conditions and make more informed decisions.
J: Juggle Multiple Roles
Real estate agents do much more than simply help clients buy, sell or rent property.
Throughout the sales journey, a real estate agent is expected to be a financial advisor, an interior designer, a family therapist…the list is endless. As a real estate agent, you should be prepared for these various roles. This in turn helps you build trust and stronger relationships, as your clients know that you are committed to helping them and that you provide honest information.
Knowledge is indeed power; in the real estate industry having in-depth knowledge is imperative for success.
Understanding the market, your area of expertise and your target audience will help cater to your niche better and establish your market presence.
L: Lead Generation
Lead generation is the lifeblood for every agent to gain a steady stream of clients. It helps you build market awareness within your niche.
You can generate leads using multiple means, such as Bayut and dubizzle, social media, networking, emails, warm calls, etc.
Our exclusive app BayutPro helps agents understand their customers’ requirements with SmartLeads™. This tool can help ensure quicker response times and better customer service.
Analyse which of your lead generation strategies prove to be the most effective and focus your time and effort on those channels.
M: Market Yourself
Promoting yourself using various marketing channels makes you more desirable in the market. Marketing can establish your presence within your niche and build your brand awareness.
Check out our Marketing Toolkit to start your real estate marketing journey.
Networking involves establishing and building relationships with different people relevant to your industry. We recommend making networking a priority early on in your real estate career.
This powerful practice will not only help you gain contacts but can also help you close more deals in the long run. Leads coming in through networking are likely more serious and have a higher chance of closing.
O: Open Houses
Arranging an Open House allows all potential buyers to view the property at the same time.
While an Open house may not necessarily ‘sell’ the property, it helps you attract new prospects, increases public awareness of your property, your brand and allows potential buyers to walk through the property without feeling pressured to buy.
Maintaining professional behaviour ensures you create a positive first impression with all your clients. While your knowledge and skills will help you find leads, your professionalism will help you build strong relationships and earn respect, leading to more converted deals.
Being professional shows clients that you are dependable, approachable, responsible and have their best interests at heart.
Q: Questions, Questions, Questions!
Questions control the conversation.
Your clients are naturally going to have a lot of questions and so should you, as a professional real estate agent. This enables both you and your client to qualify each other to proceed with business. It is imperative for real estate agents to be clear, concise and direct with asking questions as much as answering them.
R: Referrals And Relationships
Referrals provide immense value to your real estate business. They bring in high-quality leads, which are more likely to turn into clients.
Building trust is critical for real estate success and one of the most effective methods of building trust is through referrals.
Clients are much more likely to trust and work with you if they have already heard of a positive experience from a trusted source.
S: Surround Yourself With The Right People
The people we choose to surround ourselves with will eventually shape the way we think, behave and feel on a daily basis.
Surrounding yourself with people who lift you up, lend you knowledge and help you learn from mistakes will eventually raise your standards and become a better real estate agent.
T: Tailored Communication
As a real estate agent, you are going to meet many new people every day. As you go about these interactions, remember that no two clients are the same.
Tailor your communication to suit each unique customer profile.
For example, if a client has children, highlight the schools and playgrounds in the neighbourhood. If the client is an investor, focus on data and price trends.
While two clients may share the same demographics, their intention to buy can be vastly different. Avoid making assumptions and clearly ask the client what they are looking for in an agent, so that you can adjust your communication to best suit the client.
U: Understand Clients’ Needs
Understanding your clients’ needs is the first step in providing high-quality customer service. All property seekers begin their search with a need, whether it’s the expiry of a tenancy contract, finding a new house or relocating to a new city.
During your first interaction, listen to your client and understand their motivation behind looking for property.
If a client isn’t being open, you can always ask, “So Mr Client, what’s brought you to the decision to buy property?”.
Understanding client needs also helps you market yourself better and provide your audience with valuable content.
V: Validate Your Listing With TruCheck™
The TruCheck™ badge helps you promote yourself as an authentic and available agent.
Properties with the TruCheck™ badge are boosted to the top of search results in each listing category (Signature, Hot and Standard) and on average, see a 5x increase in leads and a 20x boost in impressions.
W: Wake Up Early
Set the stage for success with the right morning routine. All real estate agents share one thing in common: we’re all striving to get to the next level of professional success. We want to take our lives, our businesses and ourselves to the next level.
You can get there faster by simply adopting an early morning schedule. Use the morning to get a head start and prepare yourself to stay on track for the rest of the day.
It’s no secret that real estate is a competitive industry, especially in the UAE. To stand out from the crowd, establish yourself as the expert in your area of specialisation. This can be done by using every opportunity to learn new skills and making it a priority to apply these skills in practice.
Building upon your expertise will mean you have more confidence in your daily interactions with clients.
Answer your big “WHY?”. Why did you choose real estate as a career? Why should clients work with you? What motivates you to accomplish your goals?
Answering these questions will help motivate you and also increase your confidence when dealing with clients.
Your “why” is a statement of purpose that describes why you do the work you do and why you live the lifestyle you do. It is your calling, your conviction, your mission statement and your vision for your personal and professional life.
Z: Zzz You Snooze You Lose
There is a lot of competition in the UAE property market and agents need to be active in order to gain leads and inventory. With flexible hours in real estate, postponing tasks can be tempting; however, it is the proactive agents who reach the top and perform well. Staying disciplined and managing your time are essential so that you can grab any opportunity which comes your way.
For more real estate focused articles just like this, check out our Content Corner. You can also register for an interactive workshop at Bayut Academy, where we help you acquire the skills necessary to succeed in the UAE real estate market.