When you’re watching the glamorous lives of high-powered celebrity real estate agents on shows like Million Dollar Listing, the real estate profession looks like a dream job. You would think the job only entails driving around in high-priced cars, touring grand estates, rubbing elbows with stars and billionaires at power lunches, and collecting huge commission checks. While there is certainly an element of glamour when it comes to real estate, there’s much more to the story than what you see on TV.
In an average day, a real estate agent juggles a multitude of tasks and responsibilities. For many, it’s this variety of duties that makes the career so appealing. In fact, every day will be unique. However, there are some common activities that you will likely do each and every day as a real estate agent.
At Your Desk
Agents find themselves managing many administrative duties, including:
• Filling out, submitting, and filing real estate documents and agreements
• Setting up appointments, meetings, showings, and open houses
• Managing marketing campaigns and outreach such as flyers, newsletters, email campaigns, social media, and website content
• Developing marketing plans for new listings
• Managing your client database
• Responding to emails and calls
• Researching active, pending, and sold listings
Leads are paramount to a real estate agent’s success. This is why a significant part of the day is usually devoted to finding new buyers and sellers. Of course, there’s the strategy of generating leads through family, friends, neighbors, former classmates, colleagues, and acquaintances. However, successful agents know they need to branch out from their primary sphere of influence.
Because nearly everyone will at some point buy or rent a property, everyone is a potential client. A real estate agent’s day is often filled with networking, meetings, and events to cultivate new leads. Once these leads are acquired, the next step is nurturing them through phone calls, emails, direct mail, and other communication channels.
Hopefully some of the leads will become clients. When they do, agents will spend time working with them in a variety of capacities. This includes:
• Preparing listing presentations
• Taking digital photographs of properties
• Staging homes
• Perusing the MLS to find listings for buyers
• Accompanying clients to inspections, meetings with loan officers, closings, and other activities
• Open houses
Meetings and Tours
Most real estate agents work under a designated broker in an office with multiple agents and brokers. There are often meetings to share listings and updates on new price reductions or to provide information on particular buyers or sellers. Agents also frequently participate in MLS tours to view a group of listings at one time. While this is particularly beneficial for agents who primarily work with buyers, it can also help sellers’ agents who can learn about what is on the market to determine effective pricing for their clients’ properties.
Licensed real estate agents must earn continuing education credits to maintain their active license status. Many also take additional courses to obtain certifications and designations to differentiate themselves and improve their marketability.
Of course, there’s more to education than keeping licenses up-to-date and gaining certifications. Agents are responsible for staying current with the latest technologies and software that is used in the industry. Some realtors are well-versed in website design, accounting software, or email campaign management because these skills help them manage their daily tasks. In other words, real estate agents have to wear many hats!
Balancing Administrative Duties and Money-Making Activities
Real estate agents continuously balance their time managing paperwork and other tasks and actively being out in the field generating leads or working with clients. Often this entails working in an office, being on the road, and attending events and meetings. If you like variety and shifting work, you may find that being a real estate is a perfect fit. No, it may not be quite as glamorous as it is on TV, but it can be a fascinating and diverse job that is rarely boring and full of surprises with the potential to make a substantial income.