Sales Agent - The Six Core Competencies

Far too often, I've witnessed aspiring real estate agents loaded with potential struggling to make strides in their careers. After facing numerous challenges in the initial years, their once-bright vision of becoming top-tier agents begins to dim. Eventually, many find themselves either switching from agency to agency or leaving the industry altogether.

One of the critical mistakes I've noticed is the absence of a comprehensive training program covering all the essential skills needed for success in real estate. Merely being handed a desk and being told to "go for it" is perhaps the toughest way to break into this competitive industry. With slim listings and fierce competition, new agents can't afford the luxury of trial and error. They must hit the ground running from day one, and the only path to achieving this is clearly understanding the skills they must develop.

Gone are the days when a real estate agent could rely solely their so-called 'gift of the gab,' to get results. Today's clients demand more—they expect agents to be knowledgeable and experienced. However, many crucial competencies necessary for real estate success are often overlooked or disregarded.

I have identified Six Core Competencies essential for success in the real estate industry, which all agents must cultivate regardless of experience, location, market conditions, or innate abilities.

1. Self-Management

a) Demonstrates self-trust, self-esteem, and self-confidence

b) Ability to overcome rejection and maintain resilience

c) Demonstrates self-awareness of their thoughts, decisions, and actions

d) Meets legislation law on ethics and professional standards

2. Technical Real Estate Sales Skills

a) Assesses the situation, provides all information for the client

b) Demonstrates effective listening and questioning

c)Demonstrates commitment to ongoing professional development

d) Exhibits thorough knowledge of the sales funnel and can effectively perform the following;

- Agency, agent, and property marketing

- Lead generation through active prospecting

- Market appraisals

- Listing presentations

- Negotiation and closing deals

- Strategic sales processes

3. Relationship Management

a) Establishes and maintains trust with the client

b) Records and tracks client communication

c) Operates an effective pipeline management system

4. Financial Management

a) Ability to effectively forecast listings and sales

b) Ability to effectively track and monitor appropriate business numbers on a regular basis

c) Ability to create and maintain a financial budget

d) Meets financial laws and demonstrates a commitment to deadlines

5. Leadership Development

a) Demonstrates taking responsibility for results

b) Demonstrates and manages accountability

c) Develops and follows goals and action plans

d) Contributes to a culture of momentum, team spirit and growth

6. Health and Wellbeing Management

a) Demonstrates self-care through diet, exercise, and adequate sleep

b) Takes appropriate time off and regular holidays

c) Actively assesses and manages a healthy work-life balance