Month: December 2019

3 Misconceptions That People Have About Real Estate Agents

Both buyers and sellers enter the world of real estate and they have many misconceptions about the real estate agents. This is because many of us don’t really understand the work of real estate agents and their entire process. Some people are not even aware of the fact that there are often two different real estate agents working on the same property – one real estate agent working for the seller and other real estate agent working for the buyer.

Myths and misconceptions:

Therefore, without further ado, here are five myths and misconceptions that people have about real estate agents and the truth behind them:

Myth 1: Real estate agents always earn at least a 6% commission on the real estate transaction

This is not true all the time. And, otherwise – this is a very inaccurate statement to make. This statement assumes that the real estate agent is the only person getting any commission. The truth is, that any and all commission on a real estate transaction is shared between 4 people – the 2 brokers and the 2 agents. In addition, this commission is not set to just 6% all the time and is open to negotiation.

Myth 2: Once you sign an agreement with an agent – you cannot get out of it

If you are selling your house, typically, you sign an agreement with a real estate agent (and a broker). The agreement will include a term period which is anywhere between half a year to a full year. Signing such agreements means that you will only work with that particular real estate agent for the term period and that you cannot work with anyone else (as far as that real estate transaction goes) while your agreement lasts. However, this is not the case all the time. Sometimes, if the agreement does not seem to be working out for either party, it is very much possible to renegotiate and get out of an agreement. This really depends upon both the parties involved in the agreement but – it can be done.

Myth 3: All real estate is the same – equally good and equally bad

This could not be any further away from the truth than it already is. Just like every person is different – so is every real estate agent (they are people too, after all). So, find the right real agent for yourself. Find the real estate agent who works the best for you. Investing time in this can help you save both time and money in the longer run. It is well worth looking for a local trustworthy real estate agent.

Traits Of A Good Candidate Applying For Sales Profile

While they all claim to be a good salesman, but when put to test, less than 5% are able to give you the desired results. Sales are not everybody’s cup of tea, and things become a lot more difficult when it comes to selling properties. First of all, properties are not sold easily as people pay attention to every single detail before finalizing things, and if they find one contradictory or misleading thing from the salesman, then that’s the end of the deal right there. To avoid this, real estate brokers should follow below-mentioned tips to identify the most suitable candidate for sales profile.

1. A good candidate is ALWAYS prepared

A good candidate, especially for sale, will have done his research before the interview. This is the most reasonable expectation.

Finding a new job is akin to prospecting. The person engages in a job search process in the following ways:

  • Visit job boards
  • Select offers according to their qualification criteria
  • Evaluate business profiles
  • Sometimes make a direct approach with the company and/or the firm that supports the recruitment.

2. A good candidate is selective

A smart candidate will always have a few companies in his/her mind that he/she would like to be a part of, simply because he/she knows that there is a huge chance to grow as a professional in those companies. The candidate will always have the idea as to what he/she wants in the next employer and what type of products or service will he/she be asked to sell.

3. A good candidate knows how to sell

It all has to boil down to whether the candidate can sell or not eventually. In order to convince the interviewers, the candidates will probably provide some concrete examples as to what products they have sold in the past and to whom. They will explain those incidents as well where they thought the customer has slipped out of their hands, but then, they were able to make the sale due to their smart and effective approach.

4. A good candidate does not speak too much

The myth of an extroverted salesman who speaks more than he listens is far from the reality of what a good salesman is.

Let’s face it, it’s reasonable for a person to be a little more talkative in an interview than in a sales situation with a potential client, however, some candidates have the ability to strike the right balance. They do just enough to stand out and not too much to put us to sleep.

These good candidates are very articulate; they express their ideas precisely without artifice.

5. A good candidate asks relevant questions

Let’s keep this point very simple. Questions about wages and benefits come prematurely into the trade. Especially questions about 100% commission real estate.

On the other hand, candidates who are interested in the challenges of the position, the team in place, the management, the sales objectives, the positioning of the company and other aspects certainly catch the attention of interviewers and earn a lot of points.

Point to remember

The golden rule is to keep in mind that the candidate’s performance, preparation, questions and attitude during the recruitment process are a taste of what the candidate will be able to do with your clients and within your company.