The 12 qualities of a good real estate broker
Last update : 2023-01-09 09:57:09
Are you interested in the real estate profession and wondering if you have what it takes to excel in the job? Want to hire a real estate agent and just want to be able to distinguish the best candidate?
Certain qualities are essential to be a good real estate broker. They allow such professionals to provide their customers with sound support during their transaction. We will introduce you to some of them.
1. A good real estate broker has excellent market knowledge
This is certainly no surprise, since their role is intimately linked to this economic sector. However, although a broker must possess comprehensive knowledge of the market, they must, in addition to this, possess in-depth knowledge of the neighbourhood where you want to buy or sell your property.
As a result, the expert must be able to inform you about the specificities of your region, in particular with regard to:
- The types of housing available;
- Price developments in the sector;
- Opportunities to be seized or avoided;
- And much more.
2. They are experts on the laws and tools related to real estate
A real estate broker must possess professional, technical and legal know-how in order to carry out all of their tasks properly.
Indeed, their role requires thorough knowledge of the regulations of the profession and the laws governing each aspect of a transaction. They must also be able to properly complete each of the legal documents required for the purchase or sale to proceed smoothly, in addition to using all the technological tools essential to their duties.
But their expertise doesn’t end there. Because they work closely with several specialists, good brokers generally have knowledge of other aspects of real estate, such as real estate appraisal, mortgage financing, government subsidies, notary procedures, etc. They can thus better guide their clients, and better understand the needs of their clients. This allows them to better guide their clients, answer their questions and recommend other professionals in the industry.
3. They quickly form an opinion on your home
Due to their extensive knowledge and experience in the field, real estate brokers are able to quickly determine the potential of a property, both in the context of sales and purchases.
When bringing a property to market, they are able to identify the strengths of your home and apply the best strategy to showcase it in order to attract potential buyers.
During a purchase, the expert readily informs the purchaser of the qualities and defects of each of the dwellings presented, so that the latter can gain a clearer idea and make an informed decision.
4. A good broker is a skilled communicator
Real estate brokerage is a very social profession. Industry professionals are constantly meeting new customers and a large number of employees, whether in person, by videoconference or by telephone. A good broker must therefore be comfortable around people.
As a skilled communicator, real estate agents are able to welcome individuals and gain their trust. They are also in a position to ease tensions that may arise between the parties, to provide a framework for interaction between the multiple stakeholders, and to find the right words to popularize information and answer any questions they are asked.
5. They are excellent negotiators
Negotiation is an intrinsic component of real estate. An experienced real estate broker is therefore by definition a seasoned negotiator, able to find the ideal compromise for both parties involved in the transaction.
A real estate broker can help you negotiate various aspects of your undertaking, such as:
- The price of the property;
- Inclusions and exclusions;
- The date of taking ownership;
- And much more.
Does the thought of having to negotiate make you shiver? Real estate brokers will know how to protect your interests on your behalf. In fact, this is one of the main advantages usually cited when benefitting from this expert’s services.
6. They are organized professionals
Brokers manage multiple projects at the same time, respond to calls and emails from several clients in the same day, and keep track of various files... They must therefore be methodical and well organized to avoid getting bogged down with their many responsibilities!
In addition to having a busy schedule throughout the day, brokers often have briefcases packed with varied and neatly arranged documents. They are thus ready for any eventuality.
7. Good real estate agents listen to their clients
Each person has their own unique needs. Real estate brokers must therefore be attentive to the preferences and needs of each of their clients. This is the only way to find the ideal place for them to settle down.
These specialists will familiarize themselves with your circumstances, your goals and the constraints you face... They will get to know you in order to tailor their services and advice to your needs and thus contribute as much as possible to the success of your undertaking.
And this is just as true when it comes to buying as it is to selling! In both cases, real estate agents will seek above all to meet your expectations, because your success is also theirs.
Moreover, did you know that the distinction between the terms ‘real estate agent’ and ‘real estate broker’ no longer exists in Quebec? Check out our article ‘Real estate agent or broker: what's the difference?’ to find out more about this.
8. They are available
One of the most important qualities of any real estate brokerage professional is to be available. And not just during office hours, on the contrary! They are not afraid to work irregular hours, including across evenings and weekends.
Good brokers are available most of the time to answer questions from their clients. By phone, text, email or in person: there are many ways to reach them when you need them.
When choosing a professional to work with, make sure availability is a factor in your search criteria. After all, you wouldn't want to hire an expert and not be able to contact them afterwards. That would be a very frustrating situation!
9. They are clear and transparent
Real estate transactions can be complex, especially if you aren’t familiar with the process. Fortunately, real estate brokers are there to give you all the information you need in a clear and precise manner.
In addition, the specialist you will be working with will clearly detail their service offer, commission rate and the tasks they will perform for the purchase or sale of your home. They can also explain to you the marketing or property search strategies that they will implement to achieve your objective.
10. Good real estate brokers are honest
Honesty is one of the key qualities of these real estate experts, and is especially crucial in order to build a relationship based on trust.
Honest brokers will explain to you the advantages, disadvantages, opportunities and risks of your undertaking. They should guide you in your choices so that you can make an informed decision.
Real estate brokers have a professional duty to disclose any information that may affect the transaction. This obligation is called the duty of disclosure.
11. They are loyal
Although working with many individuals at once, your real estate broker still has your best interests at heart. They will always negotiate in your interest to find the most advantageous offer for your circumstances, regardless of whether your professional relationship lasts a few days or several months.
In addition to this, even if you haven't heard from them for several days, you can be sure that your broker hasn't forgotten about you. They simply opt to wait until they have found the perfect property or visitor before contacting you, so as not to waste your time.
12. They are constantly seeking to improve themselves
The real estate market is constantly evolving. And likewise, brokers never stop growing.
These experts are always looking to learn more to improve their services. Some even specialize in a specific area of the field, such as becoming a luxury or eco-broker, in order to improve their practice.
Moreover, these professionals must undergo continuous training to maintain their right to practice. This allows them to keep abreast of the latest practices in the sector.
In short, real estate brokers are experts with many talents and countless qualities! A broker is definitely a great ally to have on your side, whatever you're undertaking.
Cover image : Freepik.com
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