5 Rules Successful Realtors Live By

As the real estate market continues to rebound, so does realtor income. According to the National Association of Realtors, the average number of agent transactions slowly crept up from 11 in 2015 to 12 in 2016. It’s a tiny notch, but a notch in the right direction.

With good news like this on the horizon, why not use this time to buildup your real estate business plan? Whether you’re new to the game or a seasoned pro, consider these five rules successful realtors live by:

1. They Work Their Circles

Some call this their “sphere of influence,” others call it their “book of business.” Whatever you want to call this networking group, what needs to be emphasized is that everyone knows you’re a realtor: from the mailman, the cashier who checks you out at the supermarket, and even to your children’s school teacher.

Networking is not just a professional skill. You want your network to extend to every personal interaction, from casual acquaintances to long-standing friendships.

2. Their Database is Pristine

The most successful realtors in Las Vegas have a method of organization which tracks everything  (we mean everything!)

That new acquaintance they just exchanged contact information from has already been stored in their database. That phone call they just received from a potential buyer asking simple questions, has been already logged so they can follow up with them in a few days.

When it’s time for an e-mail blast or another marketing campaign, you can be sure their contact list is long and detailed.

3. They’re Social Media Masters

Okay,  not EVERYONE has to be a master of social media to be competitive in the digital age. But, if there’s one area where you should apply extra effort is your website and social media platforms you use. This helps not only increase your presence online, but in the community as well.

If you need to hire a marketing or public relations consultant, see if it’s within your budget. Marketing and public relations are your golden tickets. You want to get your name out there and you want people to like you.

Instagram is an especially useful social media platform for realtors. You can post photos and short videos, or even share some decorating tips from popular designers.

Advertising on the website Zillow is a smart choice as well. Zillow spends a lot of their time and money on digital marketing strategies. It’s definitely wise to make use of their promotional efforts.

4. They Know Their Neighborhoods Better Than Some Residents

Soak up the local news like it’s your lifeline. Download every local newspaper and TV station’s app on to your smartphone or tablet.

The more knowledgeable you are about your area, the more your clients will trust you to help them through this pivotal moment in their lives.

When you’re dealing with new clients you want to be such an expert on the location, they’re going to wonder how you are able to retain so much information!

5. They Save for the Lean Months

It might take some time to understand your market’s “lean months,” but the unpredictability of the real estate profession has taught top-tier realtors to squirrel away funds for a rainy day – or month.

There are many real estate companies in Las Vegas but, depending on where you work, you might also need to set aside money for health insurance and taxes. Being a realtor frees us from the chains of a true 9-5 job, but it also means we have to take up the slack in other areas.

Improve Your Business

In the midst of everything else you’re mastering, see if you can keep these tips in mind. The best sellers remain alert for new ways to improve their business.

We hope these tips will keep you at the top of your game and the at the high end of next year’s National Association of Realtors’ average income.