7 Skills Every Successful Real Estate Agent Must Have Mark Given

So, Mark, can you, can you talk a little bit about those 7 skills? Just give examples. Yeah.

All right, everybody, if you're driving your car, don't write these down. But if you're not driving your car, then write them down. If you're driving your car, come back and listen to it a second time. There are 7 skills. Now, I have done not to pat myself on the back, but I've done more than 1,200 programs in the real estate industry in the past 15 years. Doesn't matter where you are, real estate is local. But I have found that there are 7 common skills that you need to master in order to build a business that's long-term successful. Number 1 is flow systems. In other words, how do you build these relationships? How do you stay in contact with people? How do you have the— you don't have to have this expensive CRM. You can have a piece of paper and a pencil. But if you don't have a list of your top 50 clients where you can look at it every day and fill that page so you know what to do, those individuals and how to serve them, that's how you'll build a big, a long sustaining business. Referrals, flow systems are critical. Number 2 is you gotta have buyer systems. You gotta know your, your market better than all the people online that think they know more than you do. Real estate is local. You gotta know what it takes for a buyer to succeed in your market. Then number 3 would be seller systems. So you gotta have deep seller skills because you're in a competitive market. List to live. I've been saying that for a long time. It's harder to list when there's not supply, but you gotta know how to help that seller accomplish what they want so that their property doesn't become stagnant and doesn't sell. So we've had flow systems, buyer systems, seller systems. Number 4 is pricing systems. When I got into real estate, all I learned was a CMA. Today we have absorption rate pricing, we have odds of selling, we, we have wonderful tools to help us price right when we're working with a seller and to help buyers offer right in a competitive world to understand what, what the market is saying the true value of properties are. So you gotta have pricing skills. Number 5 then is understanding that real estate, there are so many different ways to sell real estate. And most real estate agents decide they want to be a generalist, but the world today is seeking experts. They want specialists. So pick a niche that you can be great in, right? Now it doesn't mean you can't work with other people, but pick a niche that you can be the go-to person. So some people say, well, what are you talking about, Mark? Well, it could be, historical properties. It could be land, right? It could be investment. You could, you could work with investors in certain price ranges or certain groups. There is 100 different niches in real estate that you can get into. Pick a niche. Number 6 then leads to a business plan. I just want you to know that the turnover in real estate in the realtor industry is more than 50% over 5 years. And, and, boy, that's not just brand new agents. We lose agents that have been around for a while because they don't evolve, they don't grow, they don't change with the industry. They get in a comfort zone and they're, and they're rigid. And so just know, we lose— we got almost— we're pushing towards 1.5 million Realtors in, in the country right now. I just want you to know, uh, 5 years from now, we'll probably still have 1.4, 1.5, but more than 50% of them will be different. Don't let that be you. You need a business plan so you can know profit is good and you don't need to wait till the end of the year when it's time to pay your taxes to find out if you made any money. You need to know every single month, what are you doing? How are you doing it? What's your marketing? What's working? What's not working? What should you be doing more of? What should you be doing less of? Get a business plan. Number 7 is an exit strategy. Strategy, right? An exit strategy. We're, we're not going to do real estate forever. Nobody is. Nobody's going to be on their deathbed saying, oh, I wish I just had one more listing appointment, right? You're going to— at some time you're going to slow down or you're going to leave. You need to create a plan so that you can sell your business. Now, I put that number 7 because if you do the other things— flow, buyer, seller, pricing, niche, business plan— and you have a system in place that can be duplicated. In other words, you write it down, somebody will buy your business from you. You don't have to walk away. They'll want to buy it. So that's the 7 things, Jane. How's that? That is awesome.

Thank you. I was, I was trying to get them down for our agents so I could post it where they could see it.

Did you get them? Let me say it one more time.

Yeah.

Systems, buyer systems, seller systems, pricing systems, Niche, business plan, exit strategy.