Top 6 Soft Skills You Need to Have to Succeed in Real Estate

Real estate deals are more than just financial transactions. They often involve dealing with people from different walks of life. This is also why a real estate agent, seller, or investor must be skilled in navigating conversations to close a deal or negotiate property prices. Therefore, both technical and soft skills are crucial to achieving goals and success.

Soft skills are personal attributes that allow an individual to interact effectively with other people. Some soft skills you need to have to excel in real estate are as follows:

1. Communication skills

Being a good communicator is crucial in real estate. It’s good to note though, that communicating isn’t limited to speaking. Being a good communicator also entails good listening and writing skills as well. It’s vital to listen and take notes of people who are looking to buy or sell a property as these people are dealing with life-altering investments and decisions in their lives.

Listening to them will also allow you to accurately distinguish and detail what your client is looking for, their pain points, and what they are willing to compromise. If some things aren’t clear, don’t be afraid to ask questions, so you are always on the same page. A certain level of tactfulness will help the whole process move forward in your and your client’s favor, so always get straight to the point, even when delivering unfavorable news.

2. Negotiation skills

Being an effective negotiator can give you a great advantage in real estate, sales, marketing, or business, especially in closing deals and partnerships. This means that you know when to stand your ground and when to compromise. Real estate agents act as a mediator between a buyer and a seller, so learning to be persuasive and know when to add a little pressure when the situation calls for it.

Not everyone is born with negotiating skills, but the good thing is, you can learn by attending classes, getting a mentor, or watching helpful videos. After all, every job is a work in progress. And while many real estate negotiations are about prices and money, it’s still essential to know how to negotiate on other areas such as dates, time frames, and other terms and conditions.

3. Strategizing your approach

Being a real estate also requires careful planning and strategizing, especially when competition is involved. Not to mention some clients could be easygoing and expressive when it comes to their terms, while some could have more demands and requirements than others, and some unexpected events come when you must make crucial decisions for the deal or your client. Your problem-solving skills should come in handy on such occasions, allowing your creativity and flexibility to take over when you’re at a crossroads. Having contingencies or plan Bs should also be considered.

Being a good problem-solver allows you to see both sides of the situation and enables you to present this to your client so they can be aware of what they can compromise and what will be their non-negotiables.

4. Social cues

Having a good grasp of people’s body language gives you a lot of room to rethink how you will approach a deal or client. Your clients’ demeanor also speaks a lot if they say what they think or if they’re half-hearted. If they are turning their body towards you when they speak, it means they are engaged and interested.

A vast knowledge of social cues will get you far in real estate and life. The US is a melting pot of cultures and people with different ethnic backgrounds, so it’s important to consider cultural differences when dealing with clients.

You know what they say, timing is everything, and it rings true in real estate transactions. Therefore, as agents, it’s important to know when to give your client time to decide, the tone of text messages, eye contact, and even timing those silences between conversations.

Contrary to the public notion, you don’t have to be an extrovert to be a real estate agent. Introverts can be effective agents; they only must know when to activate those socializing skills when duty calls.

5. Patience

Patience is a virtue you will need to practice if you want to grow in the real estate industry. Whether you specialize in commercial or residential real estate, some deals may take up to a year before closing, some may even fall through halfway. Regardless, having a considerable amount of patience can cut you back losses and yield optimal returns.

Practicing empathy can also help you become more patient. Remember that your client is on the verge of spending a hefty amount of money on a life-changing moment in their lives, so be a diligent mediator and assist them in making the correct decision for their future. Understand their situation, aims, and pain points. Some of them might be first-time homebuyers or home sellers, so, typically, they will be afraid to make the wrong move.

6. Integrity and Ethics

A good reputation can get you far in real estate as people want to deal with individuals they can trust. Some tenured professionals get clients from referrals, often from previous satisfied clients or old friends. One of the best ways to establish a good reputation is by working with integrity and good ethics.

This means being honest with the people you encounter on a day-to-day basis, meaning what you say and acting on them, whether it’s as simple as coming to a meeting on time, doing your due diligence on the details of the property you’re about to discuss, or being truthful about the financial details of the deal you’re aiming to close.

The Bottom Line

Real estate involves houses, lands, and mortgages, but it also entails understanding people using much-needed soft skills. As a real estate person, it’s important to constantly focus on the best details, options, and decisions for you and your client, whether they are buying or selling a property.