Posted by: J.Y. Monk Real Estate School
Published: December 7, 2017
What does a real estate broker do in a typical day? The truth is, there is no “typical” day. Every day is different. Brokers spend time running their business, supporting their sellers, working with their buyers, and expanding their business. Throughout any day, a broker could be found doing some combination of the following activities.
Running the Business
In order to maintain a well-functioning real estate business, a successful real estate broker finds time to do the following:
- Stay current with regional and local industry and market news.
- Respond to inbound messages, calls, and emails.
- Take care of necessary paperwork, official documents, records, and agreements with appropriate State of North Carolina agencies.
- Follow reports showing active, pending, and sold listings.
- Schedule appointments, showings, open houses, and client meetings.
- Create marketing plans for listings, including flyers, newsletters, social postings, and other promotional content.
- Update relevant social media profiles, websites, and blogs.
- Develop personal skills and complete continuing education courses to improve expertise and increase proficiency in the profession.
Expanding the Business
Ambitious real estate professionals must spend time trying to expand their business. Therefore, marketing to and attracting new clients is essential. Putting time into the activities below helps real estate professionals do just that.
- Generate leads: The best way to obtain qualified leads in real estate is through networking and relationship development. Most brokers start with friends, former business colleagues, and family, and ask if they are looking or know somebody looking for the type of services they offer.
- Market themselves: Real estate brokers use the internet, television, radio, billboards, blogs, flyers, or other methods to market themselves as an expert in their local market and build their local brand.
- Treat everyone as a prospect: Every person a broker meets in day-to-day life is a potential client. Great real estate brokers have a 30-second elevator pitch prepared for when they meet new prospects and are introduction-ready at all times.
In the simplest sense of a real estate broker’s job description, one half of a broker’s job should be working with sellers. The following activities related to supporting sellers are common in the day of a real estate broker:
- Meet with sellers to understand their needs and expectations in listings.
- Research local comparable properties to establish market prices.
- List properties with the appropriate services.
- Stage and take photos of the property to prepare for open houses and digital advertising.
Working With Buyers
The other half of a real estate broker’s job, unsurprisingly, is working with buyers. The activities below describe how agents work with their buyers on a daily basis:
- Interview and meet with the buyers to understand their needs
- Find potential properties that fit the buyer’s needs
- Plan appointments and property showings
- Negotiate and make offers for the buyer’s desired property