Have you thought about working as a real estate agent?

Each of us has our own idea about this profession. One sees it as a well-paying job, another believes that you don’t really have to learn anything there and it’s easy money. So how is it really? What are the most important skills and characteristics of a good agent and how much can you earn? The following is an insight into the everyday life of a real estate agent. A good agent must be able to build good, professional relationships with clients, conduct negotiations between the buyer and the seller, and be technically knowledgeable. An agent is a very versatile profession and one gets to learn various fields such as legal, construction, psychology, economics and financial matters. A person must be very multifaceted with a love of communication – they have the greatest potential for a successful career. The most important features are called sales, self-discipline and being honest with yourself and others. Very often, this is most strongly felt when you have to work 1:1 with a client, because people feel that you really want to help them, or you see it only as an opportunity for profit. Of course, presentation skills and the overall impression you leave are very important. It was also able to speak in a simple language understandable to the client, instead of trying to increase its value by using specific professional jargon. Sometimes the agent is asked how long he has been working, however, this is not an unambiguous indicator, because there are agents who have been working for 10 years, but the results are very mediocre, as well as those who have been working for only a year and show very good results. There are many who need a month, two or three to begin to understand the specifics of the job, then there are others who manage to grasp the specifics of the job even faster. However, this job that will not come to those who try to juggle between 2-3-4 things. Most often, those who feel that agents do nothing and it’s easy money, try to do it themselves and realize that it is morally difficult to walk away. Although the working hours are not fixed, it is more likely to work in the “evening shift”, around 8-12 hours a day. However, every working day is different. It may happen that the active work is 5-6 hours on one day, and then 10-12 hours on another. There is mostly a tendency that mornings are more free, but starting from 12, the active work starts, because there are both presentations and viewing of new objects. And a lot of work is in the evenings, because people go to look at properties after work. Peak hours are after 5 p.m. and it often happens that you are at work until 9 p.m., plus when you get home you have to prepare advertisements and pictures of the new objects. The agent is the performer of his own economic activity, because there are no working hours, no specific remuneration – fixed monthly fees, and he controls, regulates and does a lot of things himself. This is normal practice in all major agencies. Of course, many are very interested in what the profit is, or how much the agent receives. It is accepted in the market that approximately 5% of the transaction is received by the agency, and then, as in which agency, the commission is 40-70%, which is paid to the agent. Of course, it may differ in specific segments. The first profit, or concluded transactions, is on average after 2-3 months, this should also be taken into account when starting work. For many, the motivation is that there is no ceiling on what your income is. Everything depends on how much work, energy, hours you invest.

It is often heard that it is not good to work as an agent because there is no stable income. However, it has been proven in practice that you have a stable income as long as you invest in work. If you will not be able to discipline yourself and work consistently, it will be directly reflected in your income. It also happens that sometimes the buyer and the seller exchange contacts, however, in most cases the owner appreciates the work done by the agent and directs the buyer to the agency. First of all, the real estate agent will be a good mediator and will be able to maintain communication between both parties, so that no disputes arise and the transaction takes place at all. Secondly, it makes the whole process easier for both the seller and the buyer – no one will call at inappropriate times, and there will also be confidence in the compliance of the documents. An agent ensures that the transaction is safe and easy for both parties. The most important advice for new agents is to understand why you are doing this and what you want to achieve, as well as to be active, because only real practice will bring results, learning theory alone is not enough. Of course, you have to be prepared for discomfort, both when receiving rejections and making decisions that were not initially planned, however, with supportive colleagues, it is possible to achieve good results. The Tribus agency is currently working very actively to expand the team. We are looking for colleagues all over Latvia, because there is potential for growth not only in Riga, but also in Jelgava, Valmiera, Cēsis and other Latvian cities. The Tribus agency currently has a second office in Liepāja. If you see yourself in the field of real estate, feel free to send your CV to – cv@tribus.lv