Working in the real estate industry

[kabirmulchandan]

I have worked in many fields throughout my life, but working in the real estate industry has been the most exciting and satisfying. I like it because it is a dynamic environment. It’s challenging, and there are no limits to your success.

Real estate as a profession offers one of the broadest career selections in the business world today. Helping people buy and sell homes, office buildings, industrial property, property management, real estate counseling, are a few examples of the diverse aspects of a career in real estate. However, residential sales seem to be the most common career path in this sector.

There are multiple advantages of working in real estate. You can earn an income not restricted by a salary, as sales commissions are significant. Real estate sales is a very fast past market and daily sales transactions are directly related to the effort you are willing to put into the process. Once you obtain a license, you can work as an independent real estate agent and organize your own calendar making your diary flexible to accommodate your own arrangements.

Your creative skills as a salesman can be applied in real estate – there is no set rule or way to sell. As long as you are good with people, you are likely to succeed!

Ability to build trust plays a key role in repeat sales and referrals. Word of mouth is the fastest form of marketing and if your reputation is reliable and people have confidence that you can get them the best deal, sky is the limit.
Attention to detail and documentation is another asset to have if you want to succeed in the real estate industry. Real estate transactions involve a lot of paper work and legal contracts that need to be filled out correctly.

Understanding of the law of where you are selling is also key to your success. High energy and enthusiasm needs to be maintained all the time. This is not easy, as when you try hard and don’t close a deal, depression sits at your doorstep. You have to remain positive and not give up. The real selling starts with the first “no”. How do you react? What do you do to change it to a yes?

Successful sales people are good at hearing a no, but are also good in asking follow-up questions to see how they can steer the conversation in another way. When rejections are accepted gracefully, then the odds are you still have a chance with the customer. Most customers keen to buy usually have 50 per cent more objections than people who don't so you can’t be afraid of a rejection. You have to overcome it quickly, learn what you can and move on.

As a real estate agent you must believe in your job, be passionate about it and set personal goals. This is closely tied in with self-motivation, which is pretty much a per-requisite for any sales job.

by Kabir Mulchandani,
entrepreneur and CEO of Skai Holding Real Estate Investment Firm

[Roonie]

Can you please tell me that what is the current situation of real estate market according to you and will it boom in the upcoming future???