Think about the last time you bought or sold a home. For many homeowners, this process can be stressful and overwhelming. We look to our real estate agent to ease the process and help guide us through each and every step. While there are many real estate agents out there, the fact is, some are better at their job than others. Real estate agents play an important role in improving their clients’ quality of life, so it’s important they have the skills necessary to do their job well. A successful real estate agent excels due to skills and characteristics that are beneficial for their job. Below are seven skills that every real estate agent needs to master to succeed in today’s competitive real estate industry.

1. Communication Skills

Good communication skills are an absolute must for a real estate agent as they are required to interact with people frequently. Not only are real estate agents constantly in communication with clients, but also with colleagues and other professionals that they are networking with to find new leads. It is imperative that real estate agents be able to identify the needs of their clients and establish a comfortable relationship where their clients can be open and honest. In addition, real estate agents need to effectively communicate with other agent’s and sellers in order to reach agreements.

2. Negotiation Skills

Another skill that is essential for real estate agents is the ability to negotiate effectively. The agent, themselves, should be expert negotiators but they also need to be able to guide their clients and educate them on how to negotiate properly. When offers are moving back and forth, the real estate agent needs to know how to navigate these offers in order to find a solution that is suitable for everyone.

3. In-depth Local Knowledge

It is critical that real estate agents have an in-depth knowledge of their local town, city, and community. Knowing the area like the back of your hand will give agents an advantage because they will be able to suggest a location that is well-suited for their client and is also a strong investment opportunity. It will also help them in the negotiation process because they will know the value of certain areas and neighborhoods.

4. Familiarity with Rules and Regulations

In order to be a successful real estate agent you have to understand the rules and regulations that are specific to each area. Therefore, agents should be familiar with property laws, school zones, flood zones, and other laws in order to pass along accurate information to the client. Furthermore, agents need to understand all rules and regulations related to legal paperwork and documentation that is involved in a sale.

5. Organizational Skills

Many real estate agents are working with more than one client at the same time so it is crucial that they be well organized so they can successfully serve all clients. There are also several steps in the buying and selling process so organizational skills come in handy when coordinating finances, lawyers, and closing paperwork.

6. Networking Skills

Real estate agents rely heavily on word of mouth for referrals. This means it is important for them to attend functions and build professional networking relationships. Having strong connections around the community will lead to more business and even special opportunities such as exclusive or private listings. Networking is a critical part in  creating a strong and lasting impression on clients.

7.Persistence

The real estate industry can be competitive so it’s necessary to be persistent. The word “no” is not uncommon, so  it’s important to be patient and persist even after rejection.  Real estate agents need to be persistent in following networking leads and also in closing transactions. This is one career in which persistence can really pay off!