Skills For A Real Estate Agent: Definition And Examples
By Indeed Editorial Team
Published 17 July 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Real estate agents work in a highly competitive industry looking for the right homes for individuals and suitable locations for businesses. Many skills can help these professionals grow their careers. If you are a real estate agent or plan to become one, understanding the top skills to develop for this role can be beneficial. In this article, we define skills for a real estate agent, provide a few examples of these abilities, suggest how to improve them, explain how you may apply them in the workplace and discuss how to highlight them during the hiring process.
What Are Skills For A Real Estate Agent?
Skills for a real estate agent are abilities that these professionals typically use at work. It is usually important for real estate agents to be proficient in negotiating contracts, communicating with clients, researching properties and marketing their businesses. While their main goal is to find the right property for a client, their tasks often extend beyond selling real estate.
Examples Of Skills For A Real Estate Agent
Here are some of the important skills a real estate agent may use at work:
Real estate agents often help clients solve various problems, which may require creative thinking skills. For instance, a client might need a property by a fast-approaching date, or they might have a very specific list of things they want in their new home that are hard to find. Real estate agents work on effectively meeting these requirements to finalise a sale and improve customer satisfaction.
Real estate agents often participate in negotiations, especially as representatives for their clients. For instance, they may submit an offer in writing to a broker representing a property for sale. It is important for them to be able to negotiate well while following the regulations and rules of their local real estate industry. As the negotiation process can be complex, real estate agents may advocate for their clients more effectively if they clearly understand their needs.
Knowledge of the industry
The real estate industry can be competitive and can change quickly. For instance, there may be many homes on the market but not as many buyers or a lot of demand in the market with insufficient options for the clients. It is important for real estate agents to know about market trends regarding what types of houses are popular or what neighbourhoods are attractive to certain types of buyers.
Ethics and integrity
Real estate agents work in an industry that strives to ensure consumers are safe, as a real estate purchase may be the most expensive transaction a person makes in their life. Therefore, it is important that these professionals have a solid understanding of what it means to work and act ethically and with integrity. Ethical behaviour can also improve their career, as clients may trust and be willing to continue working with them.
It is important for real estate agents to be extremely knowledgeable about their local area. This includes knowing the local housing trends, where local amenities are, what different schools are like, what types of neighbourhoods there are in that area and what the general housing prices are in different parts of the area. Clients looking for their dream home usually expect real estate agents to be experts on these matters.
Knowledge of real estate law
Real estate law can be complex and vary depending on where you live and work. It is important for real estate agents to have at least a basic understanding of these regulations, as they apply to the paperwork relative to a property purchase. For instance, if you are representing a client purchasing a house, it may be necessary to fill out a contract for an offer, finalise the sale of the house and close the sale. While you may have a professional who handles these contracts for you, it is important that you understand how they work.
As many people like to work with a real estate agent who they either know or someone recommends, networking is important for these professionals to find new clients. This may mean attending local seminars or events or asking people you know to share your information with anyone who might require assistance in finding a property. This can entail remembering to network even outside of your working hours.
It is important for real estate agents to regularly market their services in their community, especially if they work independently. As a real estate agent, you may focus on physical advertisements, such as signs and billboards, digital advertisements or interviews in local media. Effectively marketing real estate services may bring more clients and grow a business rapidly.
Understanding of architecture
Architectural terms are often important for real estate agents to know, as buyers may have an interest in a specific style of home or architectural feature. For instance, a client may ask to see a colonial-style home. If the real estate agent is familiar with that style, they may have more chances to convince the client to buy the property.
How To Improve Real Estate Agent Skills?
Here are steps you can take to improve your real estate agent skills:
1. Read and research on your own
One important way to acquire new skills may be to study independently. This might entail reading books about a skill you want to learn more about, such as marketing, communication or even real estate law. Consider regularly reviewing industry blogs and news sites, watching videos about your industry or subscribing to relevant magazines.
2. Obtain certifications
There are many types of certifications available for real estate agents that can grow your current skills, teach you new ones and make you a more marketable agent. Earning some of these may require a certain amount or type of work experience, while for others, you can just study a topic and pass an exam. Obtaining a new certification can benefit your career as it provides clients with proof that you have specialised skills.
Real Estate Agent Skills In The Workplace
You may acquire real estate agent skills in your workplace, even when not working in this role. If you have previously worked in other jobs, you might have already learned effective communication skills or the proper way to network. Once you work as a real estate agent, you are likely to use many of these regularly. Depending on the real estate company you work for, you may also receive training opportunities to improve your skills.
Where To Highlight Skills For A Real Estate Agent?
Here are a few places to highlight your skills when you are looking for work as a real estate agent:
During a job interview
Before your interview, you can prepare to showcase your skills in your answers. By researching common interview questions for this position and thinking about how you are going to answer them, you can find interesting ways to discuss the skills you feel are most relevant. You may also mention the skills you want to discuss in your introduction to increase the chances of the interviewer asking you more questions about them.
In a cover letter
When drafting your cover letter, it may be helpful to pick a few top skills relevant to the position you are applying for. You can then describe how these skills helped you in your previous jobs. You may also mention how these abilities might benefit you in your desired position.
In a resume
You may list your top skills on your resume in a separate skills section. Under work experience, you may provide evidence of how these abilities helped you perform your responsibilities at previous jobs. This can allow potential employers to quickly see your skills, but it also highlights you can use these abilities effectively in the workplace.
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