Real Estate Agents wear many “hats”

So you want to be a real estate agent.

Have you ever wondered what it’s like to earn “commission only” in your job?  Do you desire to be in charge of your daily schedule and also how much income you earn?  The Real Estate profession might be just the right profession for you. To get started in real estate sales, and as part of a plan for success, you will want to understand what the role of the real estate agent is.  Let’s see if you’re surprised once we complete the review of the many hats a real estate agent wears.

  1. A licensed Fiduciary
  2. An Orchestrator
  3. A Motivator
  4. A Problem Solver
  5. A Detective
  6. A negotiator

A Licensed Fiduciary

  1. Protect the interests of the Buyer and the Seller
  2. Trustee of Funds
  3. Exercise due diligence
  4. Sales agent vs Brokers License

An Orchestrator

As an orchestrator,  a real estate agent is required to coordinate the efforts of all parties involved in a transaction to a successful close. You will orchestrate the following:

  1. Attorneys
  2. Accountants
  3. Lenders
  4. Escrow Officers
  5. Contractors
  6. Other Agents
  7. Buyer and Seller

A Motivator

  1. Embrace the tension and stress through your dissatisfaction with the present
  2. Use the property features to sell the benefits of ownership when they are consistent with the clients objectives
  3. Utilize the urgency of time
  4. Bring people to a point of decision

A Problem Solver

  1. Be able to identify and isolate any problems from symptoms
  2. Creatively identify all options  for solving a problem
  3. Support Parties to select the best option for them
  4. Confirm the solution or options selected
  5. Get the solution implemented into the contract

A Negotiator

  1. ISOLATE areas of agreement from areas of disagreement
  2. REDUCE are of disagreement to smallest common denominator
  3. Probe for areas of compromise among parties
  4. Overcome Objections through inquiry
  5. Guide Parties to Agreement

A Detective

  1. Understand the personalities
  2. Understand the motivations
  3. Understand all of the options
  4. Understand the Quality or lack of Quality
  5. Lead with Kindness

When you understand and embrace each of the roles described, you are well on your way to a six figure income in an age old profession.

WRITER: Uncle Real Estate is a real estate broker in California. He has been a real estate investor in California since 1992.