If this is the time where you make the jump from agent to real estate broker, your success depends on your preparation. Top-performing agents take what they’ve learned from being an agent and use it to help them build successful teams, close deals, and make money. But there are also core traits of real estate brokers that seem to help them excel at what they do.
Before you make the jump, review these traits of top-performing brokers to see how many you have:
Love of Learning
One of the first things real estate students learn is that there is so much to learn. Successful agents embrace the learning process and surround themselves with people who have more experience than they do. People who take new real estate agent online courses, attend networking events, read, listen to podcasts, and find a mentor, build their confidence (and their network) quickly. This pursuit of higher education carries over when an agent decides to make the step to opening a real estate brokerage. Successful brokers make time in their day to read, take classes, study, earn additional certifications, and learn more about the industry to reach next level success.
Real estate is a people-focused industry. The way you do business, treat people, handle problems, and serve your community will speak a lot about your character and help people decide whether or not to do business with you. As a broker, you have added responsibility to create and manage a team of real estate agents that can trust you. This means you have to be the kind of person who sticks to their word, encourages other people, and has a reputation for serving others. You also want to build a team of agents who have a reputation in the community for being honest, loyal, and trustworthy. Your mistakes as a broker won’t be the things that define you, it will be the way you handle these mistakes and how you treat people in the process.
Successful real estate brokers build high-performing teams by being a leader, not a boss. They work on showcasing the strengths of their agents, being available to offer advice and wisdom, and working hard to make sure everyone is successful. Being a broker doesn’t mean you sit back and start collecting more commissions. It’s an opportunity to be part of a successful team, and to lead people by example. As a broker, you will have more freedom and flexibility in your schedule, but you will also have more responsibility. Your team’s success depends on your ability to not just lead, but to be an active part of the team.
Real estate is a fast-paced industry, and details change all the time. Agents need to be expert communicators so that they can relay important information to buyers and sellers. They must combine real estate negotiation skills, sales, research, and conversational skills to help buyers and sellers make confident and informed decisions. Brokers need to be able to communicate in the same way, but they must also be able to communicate with their team of agents. They need to be able to handle scheduling, workplace conflict, and goal setting. Communication is key when building a team of high-performing agents and a reputable brokerage.
Just like agents need local area knowledge, brokers are expected to be neighborhood experts to best serve their clients. Buyers want to work with a brokerage that knows the area well and can help them find the best neighborhood for their family. Clients expect agents to know about crime rates, school ratings, commute times, and the best places to eat, shop, and hang out in a particular neighborhood. They’re trusting their agent to give them the inside scoop about the local market so they can make informed decisions. As a broker, knowing the area should be a top priority.
Clients also want to work with a real estate brokerage that has in-depth knowledge of the local housing market. They want to work with agents who know the data, have the numbers, and can help them analyze other listings in the area to make sure they’re getting the best deal. Staying current on local real estate trends is something all top-performing brokers focus on.
Time Management and Organization
As a real estate broker, you may find that you have more freedom and flexibility than you did as an agent. But you will also find yourself with more to do and more to keep track of. Now, instead of just being responsible for your sales, you’ll be managing a team of agents, all with different skill sets and areas of expertise. Successful brokers have used their time as an agent to improve their organization and time management skills, so when they decide to make the step toward being a broker, these skills are already established.
Use technology to help you with planning, scheduling, marketing, and goal setting. Analyze the things in your day that take the most time and create a plan to do them more effectively. To be a successful broker, you have to stay organized and know how to manage your time.
Take the First Step
Do you have the qualities it takes to make the jump from agent to broker? If you’ve been thinking about it for a while, now’s the time to do it! Check out these classes and courses that have helped so many agents and brokers reach next-level success in their real estate careers.