A good Realtor is an advisor, a consultant, a good negotiator and a good analyst.

It is a profession which can be started with a modest investment and give handsome returns. One needs to enjoy working with people, accepting irregular hours and being constantly available. These are some of the prerequisites for success in this business. One must also be clear that customer satisfaction is the sole purpose of all businesses, particularly ours. Honesty, transparency and attention to detail makes a difference between average performance and excellent results. 

It is important to choose what you want to work on amongst the many verticals that exist in Real Estate. Having chosen what attracts you, one must master all that is required to excel in these verticals. In an environment where all information is available either on the ‘net’ or by aggressive marketing by sellers, we must bring a lot to the table to be relevant. Product knowledge, ability to negotiate the best price, give advice on the financials that are required for the deal, whether it is loans or taxations or capital gains, one must have more than the passing knowledge on these subjects. 

Having understood customers’ needs, one must have a large bank of alternatives available to satisfy their needs. A successful Realtor is always either showing properties or seeing properties to increase his product bank. Enquiry generation entails a lot of investment in technology and media. A good back office or access to a back office goes a long way in achieving this. 

Other ways of generating enquiries is to be constantly networking either by being a member of professional trade bodies or having memberships to social clubs. Old satisfied clients are a great source of future business. 

It is not enough to be well-networked and a socially mobile Realtor increasingly, it is necessary to be a part of local and national associations. They offer great opportunities for personal growth and also a very effective platform for offering multi-city solutions. 

It is important to have a deep knowledge of the market/markets one operates in. Analysis of the movement of products in various verticals, is necessary to spot trends and offer opportunities to clients. Regular reading of trade journals, attending seminars and conferences prepare us for the ever evolving market. Exposure and training in “best practices” in the business contributes to personal growth.

Some habits I have found which have helped me for the past four decades which are regular exercise, regular eating habits, extensive reading on our chosen profession, always being before time for appointments, minuting every meeting with the client, being transparent about what we charge to clients, making detailed proposals in writing, giving a copy of minutes and proposals to both – the buyer and seller, opening a separate file for every client, etc. 

Regular communication and interaction with prospective and existing clients goes a long way in building relationships, loyalty and in many cases friendships, these become the building blocks of our business.

Ravi Varma
Chairman, NAR-India