11 Skills Real Estate Agents Should Learn Today

The real estate business can be volatile. There are times when business is good, and there are times when you might experience a bit of a career lull. However, if you’re experiencing a slower-than-average period, it’s possible to look at it as an opportunity to learn new skills that can help you stand out professionally in the future. Try these tips to make yourself a more competitive agent, help your listings stand out, and improve the number of new leads you get.

1. Communicate frequently and efficiently

Communication skills are the most important skills that real estate agents can have. You can improve your communication skills by taking courses about business or human psychology, reading books about negotiating, and asking for feedback from your mentors.

Developing systems that help you manage your communications, like emails and texts, is another valuable way to spend your time. The more efficiently you can talk to clients and handle leads, the more time you can put into fine-tuning your marketing message and closing deals.

2. Know your marketing superpower

There are many different types of marketing. Successful real estate agents must be adept at video marketing, content creation, and social media marketing.

If you can build an online presence, gain followers, and share educational content online, then you can increase the number of clients you acquire as the market picks up.

3. Enhance your graphic design skills

While many real estate agents outsource graphic design, you can learn many of these skills independently. If you want to create visuals for your real estate practice, learn to use innovative but user-friendly tools like Canva to create flyers, checklists, and more. Learning basic graphic design skills can make your signs and advertisements more eye-catching to potential clients and buyers and help you convey important information about yourself or properties more clearly and quickly.

4. Understand accounting and budgeting

Although real estate agents primarily work in sales, having a working knowledge of accounting and budgeting can be an asset to your clients. After all, many of your customers want to determine whether they can afford a particular home in ways traditional mortgage underwriting might not capture, from potential changes to local taxes or a higher-than-average level of maintenance.

With knowledge of accounting and budgeting, you can help your clients decide what types of homes to see in your area. This can help you develop a dedicated and loyal client base by being trustworthy and helping them find a home they can truly afford.

5. Learn about AI integration

Research from Clever Real Estate shows that 59% of homebuyers want to work with a tech-savvy real estate professional. To be up to date with the latest technology, learn how to use artificial intelligence (AI) to enhance your sales and property evaluation processes.

Real estate agents can use AI in several different ways. You can use it to write clearer property descriptions, learn about your local market, enhance listing images, and automate tasks to help you free up more time to work with your clients.

6. Be savvy in SEO

Search engine optimization (SEO) involves creating content online to drive search traffic to your website, making it easier for potential clients to find you. Search engine optimization articles typically have a specific keyword, such as “real estate agent + [your town].”

If you understand search principles and build your website presence, you can develop a skill set that many real estate agents hire out. The goal of learning search engine optimization is to attract customers. The benefit of SEO is that the traffic you receive from search engines is free.  You can always pay for ads to lead clients to your business, but if you learn SEO principles, you can improve your reach and attract more clients.

7. Become a home-staging pro

Although real estate agents can hire home stagers, knowing some home staging basics can help your clients who don’t want to invest in a home staging service. Whether you take a course, watch videos online, or simply read a few articles, having that basic home design skill can be valuable to your clients. Not only that, but if you know how to stage a home, it can drastically improve the chances of your client’s home selling quickly.

Research from the National Association of Realtors shows that 17% of buyer’s agents reported that staging a home increased its value compared to competitors. Ultimately, staging is less about designing something beautiful and more about reducing clutter and eliminating the amount of furniture in the home.

8. Get intimate with your CRM system

CRM stands for customer relationship management, the official name for software that helps you manage clients. You can learn in-depth ways to use CRM systems to automate your work, interact with clients, and remind you to follow up with potential leads.

There are many different types of CRM systems, but taking the time to learn and use one or more effectively can help ensure that potential leads do not fall through the cracks. This alone can help improve your income and client retention because you’ll be less likely to forget to return a call or text.

9. Try property management

As a real estate agent, property management is one way to add an income stream. Smart Asset reports that property managers can earn from 8% to 12% of the rental income of the properties they manage.

Many real estate agents only focus on selling houses. However, if you’re able to manage rental housing or short-term rentals for sites like VRBO or Airbnb, you can add a valuable skill set that is in high demand.  Additionally, if you familiarize yourself with property management systems that utilize AI, like automatic check-ins and systems that allow you to accept maintenance tickets, you can set yourself apart from other agents who might be applying for similar property management jobs.

10. Improve your industry knowledge

The real estate landscape is constantly changing. Take the time to research and improve your industry knowledge. Look up the latest laws that affect the real estate industry in your area, as well as trends in home construction and interior design.

Ask your mentors and superiors about challenging experiences that they’ve had with buyers, sellers, banks, or during negotiations. The more you know about potential problems ahead of time, the more prepared you’ll be as you encounter them throughout your career.

11. Develop resilience

Finally, it’s vital to build resilience as a real estate agent. Whether you read books on developing grit and resilience, work with a coach, or practice the discipline of completing specific steps to push your business ahead every day, resilience means that you don’t give up.

When times are slow, it’s easy to consider quitting or changing careers. However, if you’re able to weather the slow periods and use the time to add to your skill set, you can improve the chances of earning more as an agent in the future.

Luke Babich is with Clever Real Estate.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com.