The real estate sector is a robust and competitive industry, and it is the goal of every real estate agent to be the best in their field. Real estate agents must know how to sell properties quickly. Why? Because the longer a property stays on the market, the higher chances the selling price will drop.
Many homeowners rely on their real estate agent to sell their house which explains the importance of knowing how to sell a property quickly. Fortunately, there are several things that agents can do to improve real estate sales and close deals faster.
The Role of a Real Estate Agent
In a nutshell, a real estate agent is a professional that helps their clients sell, rent, or purchase a property. Some people use the terms real estate agent, realtor, and real estate broker interchangeably, but there are differences to their roles. Real estate agents hold an entry-level license required to work as a real estate professional while a broker holds an advanced license. Lastly, a realtor is the term used for real estate professionals who are NAR (National Association of Realtors) members.
What does a real estate agent do? For those thinking of pursuing a career in real estate, it is crucial to understand what the profession calls for. The duties and responsibilities of a real estate agent usually include, but are not limited to, the following:
- Generate client leads for rental and buy/sell properties
- Creating and promoting listings for real estate properties
- Present real estate properties to renters and buyers through open houses and showings
- Provide sound advice clients on mortgages, real estate market conditions and prices
- Facilitate transactions and negotiations between sellers and buyers
- Compare properties to come up with a competitive price for a property
- Prepare and review real estate deeds, contracts, agreements, and other documents
- Understand and maintain knowledge on real estate policies, regulations, and trends
To become a licensed real estate agent, one should complete the minimum education requirement (high school diploma, bachelor’s degree, or real estate training courses), and have at least 1 to 3 years experience as a real estate agent and a state license.
Homeowners who do not have the time or skill to sell a house fast will need to get in touch with a competent real estate agent. Selling a property quickly, however, requires a mix of knowledge, strategy, and hard work.
Selling Properties Quickly as a Real Estate Agent
Real estate agents face many challenges in selling properties, and the pressure increases when the client expects the transaction to be quick and seamless. Because of this, it is easy to lose a client, especially when his or her needs and expectations are not met. Here are several doable tips for real estate agents who want to be experts in selling a property quickly.
1. Work with the Property Owner
Before starting to price and market the property, a real estate agent should coordinate properly with the owner of the property for sale. A meeting should include discussions about the property owner’s expectations, especially the price they want to get for their home. This is also the time to find out the best selling points of the property which the agent can use to market it. Meeting with the property owner is crucial to prevent misunderstandings that can prolong the sale.
The real estate agent should visit the property to make an assessment. The property visit allows the agent to price the property realistically and inform the property owner of how much he or she can get from it.
The property must be prepared for selling before it is listed or promoted online. According to the National Association of Realtors, the projects that add the most value to a home for sale are kitchen windows, new windows, and new sidings. It is the responsibility of the agent to inform the property owner what needs to be done to help speed up the sale of the property, such as:
- Remove the clutter inside the home and outdoors
- Depersonalize the property by removing family photos and personal items
- Take care of minor repairs such as wobbly door knobs or replace busted bulb lights
- Paint the home a neutral color such as beige, light browns, or greys
- Improve the property’s curb appeal
Aesthetics and functionality are always important factors for a property to stand out from the other homes for sale. Real estate agents should emphasize the importance of preparing the home for move-in. A property in move-in condition will easily attract buyers looking for a piece of real estate that does not need any repairs or renovations.
2. Work with the Property Buyer
Real estate agents should not only focus on the preferences of the property owner, but also the buyer’s requirements. Determine whether the property is a good match for the interested buyer. Since a real estate agent acts as a middleman for the buyer and seller, it is his or her responsibility to find and establish a common ground between the two parties so that the transaction can be completed at the soonest possible time.
3. Tap into the Client Database
To sell a property fast, real estate agents should be able to identify and attract suitable buyers that they want to sell fast. A regularly updated client database helps real estate professionals quickly sell a home or property when they know what their buying clients are looking for.
A real estate agent must make it a goal to build or expand their network regularly. Even a regular spreadsheet will help in keeping track of people who are potential leads. It is pertinent to strengthen relationships with clients.Add these connections to social networking accounts so that they can be updated if there is a new property up for sale.
4. Take Advantage of Technology
With the proliferation of online tools, apps, and social media platforms, selling a property fast is feasible, if these are utilized properly. Here are the crucial technology-driven strategies that real estate agents can use to make a sale as quickly as possible.
- Create awareness: There are many ways on how a professional real estate agent can build awareness around properties for sale. One way to sell a home fast is to make sure that prospective buyers are aware that these properties are available. Real estate agents also improve their chances of generating potential sales leads when the property is advertised on a credible online property listing website. Interested buyers can filter the properties based on their preferences, specifications, and even their budget. Reputable online listing sites also have features that will help real estate agents save time to deal with irrelevant inquiries.
- Use high-quality photos for ads and listings: One way to sell a property fast and increase sales is to use high-resolution photos in listings and ads. High-quality pictures will show how attractive the property is, especially for interested buyers who cannot visit the property immediately. A professional photographer knows how to shoot appealing real estate photos which will cost money but it will make a difference if the goal is to sell the home quickly.
- Be social: Almost everyone owns a social media account, so there is no reason why real estate professionals should not promote properties online. Social sharing buttons make it easier for connections to share property-for-sale posts. This is why in today’s world, a robust online presence is a must to be successful in the real estate industry.
- Try virtual staging and tours: Clients, even if they are interested in a property for sale, may not be able to visit the location due to their busy schedules. However, real estate agents can add virtual tours (video or 3D) on their websites and listings so potential buyers will get a comprehensive preview of the house.
Physical home staging can be expensive and time-consuming. However, to sell a property fast, potential buyers should be able to visualize the home in the best possible light. Virtual staging helps real estate professionals sell properties quicker without spending too much. It is, however, important to disclose if photos were altered digitally to avoid getting into trouble
- Invest in a website: Real estate agents should have a website designed by a professional web designer to ensure that the site is user-friendly and optimized for mobile use. Many customers and clients research the credentials and portfolio of their service providers, so for real estate professionals, a website is an excellent way to promote listings and the offered services. A professional-looking website can help encourage potential clients to conduct business with the agent, who now has a chance to make a quick sale by providing outstanding customer service.
Consumers and clients nowadays are always connected and well-versed in technology. Real estate agents looking to sell a property fast should utilize traditional and digital marketing strategies.
5. Develop an Excellent Reputation
A stellar reputation is one of the assets of a real estate agent that will help him or her get a quick sale. Ever wondered why established real estate professionals are able to sell a property fast? Two words: customer trust.
Developing a reputable image takes time and effort, but is well worth the hard work. There is no amount of marketing strategy that can beat a trustworthy reputation. Here are the things that a real estate agent should prioritize when it comes to building a brand that clients trust.
- Branding and professional image: Appearances always matter especially when meeting clients face-to-face is part of your daily routine. A reputable brand and professional image can be conveyed through appropriate clothing, makeup, perfume, and accessories. But real estate professionals should also ensure that their demeanor pleases their clients. They must strive to be courteous, attentive, and engaging at all times.
- Ensure outstanding customer service: An essential part of a trustworthy brand is outstanding customer service. A real estate transaction is always a big deal, mainly because it involves a large sum of money. Real estate agents should then strive to provide outstanding customer service because with all the competitors in the market because excellent service is the only way to stand out from the rest. Real estate professionals can score fast property sales when clients are satisfied with the way their transactions are handled by their agents.
- Be honest and trustworthy: One way to halt or lose a property sale is to lie to a client. Whether the client is a seller or buyer, real estate agents should remain honest during the entire transaction. Honesty can help close the deal quickly but lying or telling half-truths will certainly terminate the potential property sale.
- Maintain an open line: Getting a lead is easy, but sealing the deal is another story. It is pertinent to keep an open line all the time since clients will likely go elsewhere if his real estate agent is not picking up the phone. Following up with the client is another option if the goal is to close the transaction as quickly as possible. Some clients need a little prodding – a regular follow-up may actually cinch the deal faster than one can imagine.
- Prioritize the clients’ needs: One of the sure ways to jeopardize a sale is to not prioritize the needs or preferences of the client. Although the role of an agent includes offering sound advice regarding real estate matters, it is best to understand the requirements of the buyer and work around it. Keeping the trust of a client is vital in winning a deal and closing it as quickly as possible.
These tips or best practices will not only help real estate agents sell properties quickly, but it will also help them improve their knowledge and strategies for future real estate transactions. Selling a property fast in a dynamic real estate market is challenging yet fulfilling, but it can be done. Real estate agents must apply these strategies not only to make a quick sale, but also provide clients with exceptional service. With proper communication, networking, utilization of technology, and branding, real estate professionals will be able to convert potential clients to satisfied customers.