Easy Tips For New Real Estate Brokers To Get Their First Sale

A new licensed real estate broker from Manila e-mailed us, asking for advice and tips on how to be a successful broker.

She introduced herself as Patricia and she’s particularly interested to learn how to secure a listing, or how to get a list of properties from clients for her to sell to her prospective buyers, so that she could derive income from commission.

Actually, there is no standard practices on how to get a listing and on how to sell real estate properties. It depends on the personality and ability of a broker, each broker being unique and has his/her own style. As the saying goes, “different strokes for different folks.” However, to make it easy for new licensed real estate brokers eager to start their profession, here are the simplified ways to begin and make the sale, based on the common experience of practicing realtors.

1. Secure a listing. First thing you should do is to look for real properties for sale, or for lease, mortgage and exchange, so that you can make an inventory of the properties and make your listing.

2. Find Prospects -look for persons who are interested to buy, lease, mortgage and exchange real estate. You can do this through your friends, referrals from your friends and relatives. You can use the telephone, e-mails, cold canvassing, etc. Use your imagination on how to connect and network.

3. Present and Demonstrate-once you have the prospective buyers, it’s time to present and demonstrate, showing to the prospects the pictures, brochures, and price of the properties. This is to arouse the buyer’s interest, create desire which could lead him/her to act and buy the property.

4. Negotiate – this involves transmittal of purchase offers, counter-proposal and conciliation of parties as to the price and terms of sale.

5. Closing – this is the process of effecting the meeting of the minds of the parties in the selling transaction. This is the stage where the documents of sale (Deed of Absolute Sale or Deed of Conditional Sale) is prepared, the price of the property paid, which is preparatory to the delivery and registration of the property in the name of the buyer.

6. Registration – this is the cancellation of the title of the property in the name of the seller and the issuance of a new title in the name of the buyer.

Once the sale is done, then your work as a realtor is complete and you are now entitled to your commission. After this, whether or not you will become a successful real estate practitioner is entirely up to you.