Last Updated on 24/08/2020 by Steve Wanjie
- What is a real estate agent?
- What is the work of real estate agent?
- What is the salary of a real estate agent?
- 9 Real estate agents tips for beginners
Real estate agents tips for beginners in Kenya, is 9 tips discussion showing how a new real estate agent can start and make money in real estate.
Real estate is a rewarding career but many new agents don’t survive the first year. There are many reasons for this failure rate but number 1 is lack of patience.
And the attitude to make money quickly. This article teaches you how to enter, stay and become successful in real estate. It is hard but there is plenty of money to be made.
It is one of the best careers to become filthy rich.
What is a real estate agent? Or, who is a real estate agent?
A real estate agent is a sales person in the land and property economy. Real estate agents represent their employer in real estate transactions.
There are three parties in a real estate deal; a seller, buyer and a commercial real estate broker.
In real estate transactions, a real estate agent represents his or her employer, the commercial real estate broker. Thus, a real estate agent works under a registered broker, as a sales person.
What is the work of a real estate agent? What do real estate agents do?
- Sales Person
The work of a real estate agent is to manage the processes of renting, buying and selling of real estate (land and properties.) They work with renters, landlords, sellers, and buyers to help them complete real estate deals.
- Client acquisition
A real estate agent is an employee of a Commercial Real Estate Brokerage firm. The broker expects the agent to find and recruit new business (or clients.)
- Customer service
The agent is responsible for clients they have recruited. Any client who joins the brokerage under you persuasion is directly under your care. You are expected to service their needs as long as they remain clients of the broker.
What is the salary of a real estate agent?
It depends on the agreement between the agent and the employer. Some are paid on commission. The agent sells a property and he or she earns a commission.
The commission percentage ranges from 5 to 20%. This is determined by the nature of the transaction.
A piece of land is sold for 10 million. As the agent your commission is 10%. How much is your pay in that transaction? 10% of 10 million is equal to 1 million.
The other option which most agent don’t like is a fixed salary. In the USA, the average salary for a real estate agent in 2018 was $5200 per month.
Real Estate Tips for Beginners
- Take real estate agent courses to improve your skillset
You need skills to excel in whatever you choose to do in life. Therefore before you begin your real estate marketing journey get trained.
And after the initial training don’t stop learning. Continue taking courses to improve on your knowledge and skill set. In the onset you need at least a certificate to prove your seriousness to brokers and clients. Let people know you are trained.
What do you need to study to become a real estate agent?
- Customer service
Some of the best real estate courses to take are;
- Real Estate Express
- 360 Training
- Center for realtor development
2. Join a leading Brokerage company
While you can become a real estate agent by starting out on your own, it’s good to join an established broker. This will;
- Act as your mentorship program
- Help gain experience in a professional environment
- Help establish you in the industry
- Help create your own network of friends and clients
- It will help you save enough capital for when you decide to work for yourself
Then after several years working as a real estate agent with a broker you could go it alone. Because you are known in the industry. And you have saved up some working capital.
Some of the leading real estate brokerage companies you could choose to work for are;
- Knight Frank
- Aziz Realtors
- Lloyd Masika
- Villa Care Ltd
- Suraya Property Group
- Hass Consult Ltd
- Optiven Enterprises Ltd
- Dinara Developers
- My Space Properties
- Hayer One Ltd
3. Define your goals
Success loves those who know what they want and how they will get it. Don’t rush into making money. Sit and draw a road map. What do you want to achieve? How are you going to reach your target?
This means you have to write a business plan. Short term and long term. I want to work with a broker for 5 years to gain experience, save some capital and start my own agency.
Find out how to draw a business plan. Once you have your plan work hard. Execute it. And you will get far in the real estate industry.
Remember a brokerage company is bigger than an real estate agency.
You may use free business plans generation software. It is very important to create a plan where you define your goals. Find the software at;
- How to write real estate business plan
4. Image in real estate agent is everything
Your appearance, your marketing materials, and your office have to look the part. In real estate, you deal with people with money.
To look respectable and influential you need to have a professional look. Everything in and on you ought to portray confidence, calmness, and knowledge of your work.
Be in a tie and a business briefcase
5. Create your business website
In today’s business world you need an online presence. That means having a real estate website of your own. That is important as a marketing tool and an online office.
Life is digital. Your clients are online. Therefore, you need to be where your clients are. Buy a domain from Name cheap.
Then go buy website hosting services from Site Ground. From there head over to WordPress to create your website. In fact, with Site Ground account you create a website with a single click from the Cpanel.
You click the wordpress logo inside you Site Ground account. And follow the instructions. It is so easy. Make sure to use a real estate agent website theme. You can use a free theme or buy one.
6. Niche down – You cannot be a Jack of all trades in real estate
There are many niches in real estate. This means that you have to choose a niche. Once you have chosen your niche work to become an expert in it.
Become so good that clients will start talking about you for a particular service. There are 4 broad real estate niches;
- Location niches
- Seller niches
- Consumer niches
- Property niches
Under these four are many smaller niches. So you need to choose a niche and become an expert. Let us some examples in each broad niche.
a) Location niches:
- Region of your country, e.g., a County
- Town or city
- b) Seller Niches:
- Short sales
- Foreclosure auctions
- Bank owned
- Tired landlords (or burned out lord lands)
- Probate (owner dies) inheritors don’t want to keep the property
- Fire or water damaged property – instead of rebuilding the owner wants to sell
- Code Violations
- Tax forced auctions
- c) Consumer Niches:
- Long term rentals
- Short term rentals
- Vacation rentals
- Student rentals
- Special needs
- Rent to own
- d) Property Niches:
- Mobile homes
- Real estate investment trusts
Niche down to one niche. Focus on it. Improve your skill set and be the top expert in that niche. That is how to make money. This is because you are the guy to go to for e.g., duplexes.
7. Hunt for new clients relentlessly
Every day make sure to add a new prospect into your business. Clients are everything to a real estate agent. The more you prospect the better you become in finding new customers.
Here are some tools that could help you acquire prospects regularly;
- Digital marketing through your website
- Business cards
- Cold calling
- Community events
- Social media accounts
- Email marketing
- Facebook business page
- Facebook groups related to real estate
8. Join relevant business networks
When you network, you get a chance to introduce your business to your peers, new prospects, and maintain relationships.
It is a good idea to join as many relevant networks as you can. This way you are able to generate a steady flow of potential clients.
9. Customer service is crucial because the client is the King
Keep all communication channels open to your current and potential clients. High degrees of communication make customer retention at above-average levels.
New clients are attracted to good customer service. Make sure your clients can reach you both on and offline. Respond to customer queries promptly and with the right answers.
Some customer service tool you could use is;
- SMS text support
- Live chat
- Automatic callback
- Online communities
- Discussion forums
- Social media
- Mobile apps
- Customer portal within your website
Remember – communication is Key to business success.
Real estate agents tips for beginners in Kenya conclude here. To sum up, real estate agents who succeed are patient, consistent, focused, and take time to improve their skills.
The tips discussed above are useful. But very view agents follow the advice. Why? Because they want to make money quickly. The problem is, in real estate you don’t rush it.
You take your time to learn from mentors, the industry, and from peers. Those who took the time to learn, gain experience are millionaires today.
You too could become a millionaires if only you bide your time.
Thanks for reading real estate agents tips for beginners in Kenya.
Hope to see you soon for another post like Real estate agents tips for beginners in Kenya.
Founder – Dijito Marketing
Vieira, K. F. (2008). Online Marketing Techniques for Real Estate Agents & Brokers: Insider Secrets You Need to Know to Take Your Business to the Next Level. Atlantic Publishing Company.
Sweeney, S. (2008). 101 ways to promote your real estate Web site: Filled with proven Internet marketing tips, tools, and techniques to draw real estate buyers and sellers to your site. Maximum Press.