Working as a real estate agent is exciting and unpredictable. As an agent, you function in a fast-paced environment where no two days are alike. Plus, you get to wear several hats all at the same time. Let’s take a closer look at what happens in a day in the life of a real estate agent.
24 Hours as a Real Estate Agent
Prospecting Leads and Clients
Clients are the heart and soul of a real estate business. That’s why prospecting leads and clients is a crucial part of a real estate agent’s day.
Some agents acquire contacts by reaching out to family, friends, and acquaintances to see if they know anyone who is interested in buying or selling a home and is in need of an agent. Others also spend a few hours daily reaching out to prospects via phone calls and emails.
Also, for agents who are part of a real estate team, their colleagues can help them find leads and land clients. As they start sharing the leads database, they get better opportunities to network and meet more clients.
Bonus tip: Keep your business cards on hand and ready. It’s a great way to initiate conversations, exchange business contacts, and potentially grow your network.
Building Client Relations
Once they’ve landed clients, an important part of a day in the life of a real estate agent is to build and nurture these relationships.
For buyers’ agents, a part of their day is spent on understanding what their clients are looking for. This entails knowing their price ranges, ideal locations, home sizes, and other influential factors. They then conduct their market research, coordinate with listing agents, and compile a shortlist of properties to show the clients. They also accompany the clients to negotiation meetings and inspections and assist them in making a final decision.
On the other hand, sellers’ agents create a comparative market analysis to determine the fair market value of the property. They coordinate with professional photographers and stagers to arrange the property before listing it on the market and holding open houses. They meet with prospective sellers to discuss listing and negotiation processes, sale prices, projected timelines, and other relevant information about selling the house. They may also work with buyers’ agents and potential buyers to give them more information about the house as needed.
Meeting with Other Real Estate Professionals
Real estate agents know that they can’t do everything on their own. That’s why part of a typical day in the life of a real estate agent involves meeting with other industry professionals.
Most agents meet with brokers to discuss new listings, potential buyers, and price changes. They work together to exchange information about properties, which could help close the deal for clients. They may even take part in several MLS tours weekly to make it easier to find outstanding listing prices for clients.
Some real estate agents also meet and work with architects, contractors, developers, inspectors, lawyers, and lenders to potentially build a power team. Once they’ve developed such a working relationship, they can refer each other to their respective clients and work on projects together.
Attending Networking Events
Networking is essential to succeed in the industry. That’s why part of a real estate agent’s day is going out to meet new people and make connections.
They attend industry conferences and networking events to acquire new market ideas and engage with other professionals. Some also participate in interest groups, the local Chamber of Commerce, and volunteer programs to help establish the right networks.
Effective networking, coupled with strong passion and right qualities, helps real estate agents make a name for themselves in the industry.
Promoting and Marketing the Business
Most days in the life of a real estate agent include spending time promoting themselves (or the business) on their website and other platforms. Many prospects find realtors through the internet, so having a strong, consistent online presence is important.
Marketing tools for real estate agents can include:
- Business accounts on relevant social media channels.
- A business website.
- Email marketing.
- High-quality content.
- Reviews and testimonials from clients and colleagues.
- Word-of-mouth marketing.
- Other creative campaigns.
Great marketing strategies tied with excellent customer service help build a top-notch reputation for real estate agents.
Real estate is a constantly changing industry. That’s why agents need to stay ahead of the market.
They need to consistently research industry trends, properties on the market or recently sold, and rental or sale prices. Keeping up to date with this information helps agents better serve their clients.
Similarly, agents need continuing education credits to improve their credentials and marketability. They can attend training seminars, online courses, and focus-group discussions.
While continuing education is not always a part of the typical day of a real estate agent, doing so can help increase their knowledge of the industry and skills in engaging with customers.
Other Administrative Tasks
Beyond finding and nurturing clients, going on tours and inspections, and attending industry events, doing administrative tasks are also a big part of a real estate agent’s typical day.
These tasks include:
- Budgeting for operations.
- Drafting contracts and leases.
- Entering and updating listings on the MLS.
- Filing documents, lease records, and client agreements.
- Following up with leads and clients.
- Managing client databases.
- Ordering supplies for the office or for events.
- Organizing appointments (e.g., meetings, open houses, and viewings).
- Planning, producing, and distributing marketing collateral.
- Responding to emails, phone calls, and other business inquiries.
- Updating the business website and social platforms.
While these tasks can be tedious and time-consuming, they’re important in keeping the real estate business in top shape.
A day in the life of a real estate agent isn't the typical 9-5 schedule or work-from-the-office type of job. It involves going out to find leads and clients and then building relationships with them. You also have to research the homes that you’ll show your clients.
Similarly, you will network and work with other real estate professionals to help clients get the best home possible. It’s vital that you market yourself to help grow your real estate business. It’s also important that you continuously learn and stay up to date about the industry and your market.
There is no “normal” day in the life of the real estate agent. If you think you’ll thrive in this role, contact The Brendan King to learn more about it!
If you liked this article, you might be interested in knowing what to do when you’re a new real estate agent.