Most common questions used to investigate
Are you good with people?
Do you know how to manage finances?
Do you read the news?
Do you understand economics?
Are you well-aware of the geography of the area you work in?
Do you have a degree in economics or finance?
Common conclusions
One of the most important traits to become a successful real estate agent is good people skills. When you can connect with people, understand what they want, and give it to them, they're sure to appreciate you. More importantly, they are sure to refer you to more people to get more business.
Staying on top of your finances is important or any job, and more so with real-estate because you will have to decide what is the best deal and offer the right rates to your customers. You should be able to look at pieces of property, gauge their value, and quote the right amount to your customers after taking the buyers' and sellers' preferences into account. All these require you to be good with money, so this is an important trait for a real estate agent.
Real-estate prices tend to vary greatly depending on a host of factors. When the economy is booming, many people see it as a good investment source, and when the economy is bad, some people still buy, especially if they see a big potential. So, you must be aware of the news, understand the economic events, and predict how the market would be in a few weeks or months, as the case may be. All these would help you to become a successful real estate agent.
Though you don't have to know economics thoroughly or even have a degree in it, still, it is good to understand some basic concepts like demand and supply as they determine how any market works. Based on this, you can predict how good or bad your business will be so that you can plan accordingly.
Knowing the local geography is a key aspect to your business. When you know which roads or neighborhoods would develop shortly, you can most definitely do good business by buying and selling properties in that neighborhood. Similarly, if you know that a major factory or an important source of livelihood will close down, you can expect some part of the population to leave, and the prices of real estate properties will come down. So, knowing the geography and local events are the key to being successful.
It can surely come in handy for you to run your business well as you'll have a good understanding of the basic concepts.
It doesn't matter much. Get hands-on experience and learn the things that are essential for your business. In particular, work on your people management skills and communication, and these should make you successful.
References
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