I first ran the following article on August 29th, 2021.  I was recently asked about it so I thought it would be good to re-run it.

On another note, I will be presenting my “The Nine Things I had to Learn to be Successful as a REALTOR®” talk at the Realtors Marketing Association in Danville on Thursday, May 12th, 2022 at 8:30 AM.  This was received enthusiastically at the Contra Costa Realtors in Motion marketing meeting in Walnut Creek on March 29th, 2021.  I was asked to do in Danville as a result.

If you find yourself in Danville this Thursday morning, stop by.  Admission is $5.00 but you get coffee, juice and a breakfast burrito as well as 35 minutes of awesome info from me!

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I was thinking about the many skills it takes to be really successful in residential real estate sales.

I’m not talking about just closing the occasional sale here and there, I’m talking about real success, the kind that results in an  income of mid six figures Gross Commission Income, and more.

My friend Tom Hart of Berkshire Hathaway Home Services Drysdale Properties (www.TomHart.com) initially came up with a list of 16 skills that he believes that you must have.  Not only do I agree with his list, but I have added 10 more of my own to his list.

You may have some of your own to add as well!

I’ve divided up the list into broad categories below. Some skills are applicable across categories which is why you see them repeated.

I. Business Generation

Let’s face it. Unless you are out there prospecting for business EVERY day, you will soon be unemployed.  With new people entering our business each day, the competition for a finite number of transactions becomes intense.  You simply MUST have a prospecting plan that you like doing and that you will do every day.  The skills below are ones that you will need to get great at prospecting.

1. Managing systems
2. Marketing Yourself
3. Prospecting for business
4. Converting leads to clients
5. Research
6. Learning new techniques

II. Lead Conversion to Listings/Sales

After you have determined that someone MIGHT be a lead, you have to be able to get them to work with you.  Before you do that, you really need to determine whether or not that you can take care of any real estate needs that they may have.  In order to do that you will need questioning, listening and counseling skills in addition to others listed below.

1. Converting leads to clients
2. Counseling
3. Questioning
4. Listening
5. Communicating
6. Managing systems
7. Research
8. Tech Skills
9. Closing clients to sale
10. 10.Learning new techniques

III. Selling a home

Now that you have a listing to sell or motivated, qualified buyers to work with, you have to get them into escrow.  Take a look at the list below.  

1. Counseling
2. Questioning
3. Listening
4. Communicating
5. Negotiating
6. Research
7. Merchandizing
8. Marketing
9. Networking
10. 10.Pricing
11. Problem Solving
12. 12.Organizing
13. 13.Planning
14. 14.Referring
15. 15.Sales
16. 16.Team Building
17. 17.Managing people
18. 18.Tech Skills
19. 19.Learning new techniques

IV. Closing a Transaction

Once you are in escrow, the real work begins.  Closing the escrow requires the biggest set of skills of all!  Take a look at the list.  What would you add?

1. Counseling
2. Questioning
3. Listening
4. Communicating
5. Negotiating
6. Research
7. Problem Solving
8. Organizing
9. Planning
10. 10.Referring
11. Expediting
12. 12.Facilitating
13. 13.Risk Managing
14. 14.Managing people
15. 15.Managing systems
16. 16.Tech Skills
17. 17.Learning new techniques

V. Follow up after the sale

Now that the escrow has closed, this next step is key to your long term success.  If you are successful in post sale follow up and communication, you can expect repeat business and referrals.  Drop the ball here and you doom yourself to a lifetime of intense prospecting to continually generate new prospects.  It’s generally believed that it is easier to convert warm leads (people that already know, like and trust you) than it is to convert cold leads.

1. Post Sales Follow up
2. Communicating
3. Marketing Networking
4. Organizing
5. Planning
6. Referring
7. Managing systems
8. Prospecting for business
9. Converting leads to clients
10. 10.Closing clients to sale
11. Tech Skills
12. 12.Learning new techniques

Here is the full list.

The ones in Italics are the ones that I added.

1. Counseling
2. Questioning
3. Listening
4. Communicating
5. Negotiating
6. Merchandizing
7. Marketing Yourself
8. Marketing your Listings
9. Networking
10. 10.Pricing
11. Problem Solving
12. 12.Organizing
13. 13.Planning
14. 14.Referring
15. 15.Expediting
16. 16.Facilitating
17. 17.Risk Managing
18. 18.Sales
19. 19.Team Building
20. 20.Managing people
21. 21.Managing systems
22. 22.Prospecting for business
23. 23.Converting leads to clients
24. 24.Closing clients to sale
25. 25.Learning new techniques
26. 26.Tech Skills
27. 27.Post Sales Follow up

Take a good look at these skills and grade yourself on each of them as follows:

• I’m good at this
• I’m so-so at this
• I really need to acquire this skill

Once you have done that, get to work, take classes, learn from a mentor, read books, listen to podcasts, watch videos.  Do whatever it takes to master these and watch your income climb!