A Day in the Life of a Realtor
I’m often asked by people thinking about a Career in Real Estate what is a typical Realtor’s day like. I smile at this because one of the reasons I love Real Estate is typical days are rare - everyday brings new challenges, opportunities and adventures - which is one of the reasons I LOVE Real Estate.
That said there are typical things we do some daily & some regularly so let’s talk about those;
Lead Generation/Business Building - every Realtor needs to daily work on building their business - if your business isn’t growing it’s dying! This can be done in huge variety of methods but here are a few - Sphere of Influence, Open Houses, Around Listings & Sales, Geographic Farming, FSBO’s (For Sale By Owners), Expired Listings, Social Media Marketing. These are require the |Realtor to actively reach out to new and existing clients and talk to them about real estate. This is proactive and the one activity the successful agents all do consistently
Talk to Active Clients - Buyers and Sellers under contract need to be communicated with on a regular basis - they want feedback, they need to know what you are doing for them and they need to know you are looking after their needs.
Lead Follow-up/Processing - After you generate a lead you need to follow-up, qualify the lead and determine urgency. Then you need to devise an action plan for that lead and implement it - technology helps but to be successful you need face to face and voice to voice communications.
Social Media - in today’s world a Realtor without a social media presence is out of business. You will need to pick one or two social media channels and focus on them. Pick these channels based on your business goals and your target market.
Advertising/Marketing - you will need to look at your advertising and marketing strategies daily to determine their effectiveness
Scheduling Buyer and Seller appointments - the goal of your lead generation & follow-up is to generate appointments with potential Buyers & Sellers to determine if your services are suitable for their wants & needs - this is a very competitive business.
Paperwork - staying on top of the regulated paperwork can be a challenge. We are becoming less and less reliant on paper but that doesn’t mean the paperwork is not required - it maybe in electronic format but it’s still has to be prepared, signed and stored.
Buyer & Seller Presentations - You will need to go on appointments to meet with potential clients, discuss their needs, discuss your plans/solutions for their problems and determine if you can help them & work together. You will need a strong presentation & be able to clearly and effectively communicate your business value package to them.
Continuing Education - Real Estate is a rapidly changing world, there are new technologies to consider, evolving business models, changing dynamics and economies and so much more. As a Realtor in Ontario you are required to take continuing education as part of the license process but this should be considered a minimum requirement.
Client Appreciation - you will need to communicate with your past clients and SOI on a regular basis. This could include phone calls, emails, direct mail, newsletters, videos and events. These things have to be planned and implemented.
Accounting - as with any business you will need to regularly prepare your accounting and tax information. You have to submit Income and HST Tax returns & payments. You also need to review your income and expenses to ensure that you are operating a profitable & effective business.
As I mentioned in the in the beginning a typical day in Real Estate is hard to define but a solid business plan will help. Break your goals down into daily, weekly & monthly activities and make sure you win the day, the week and the month. Do this & success in real estate is all but a guarantee.
Thinking about a career in real estate don’t hesitate to contact me or find out more at our Career website www.WhyC21Ottawa.com