Daily Responsibilities of Real Estate Agents

Male real estate agent showing living room to couple
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A good agent keeps up with market activity:

Most real estate agents begin their day by looking at the previous day's market activity. This is usually on a downloaded or online "hot sheet" report. It tells them what sold, new listings, price changes and other activity in their market.

See what's involved in a hot sheet analysis.

Your time is well-spent in doing this every day, as you may find the perfect new listing for a buyer you've been working with.

 Or, you may see a property that buyer had an interest in with a price reduction.  It could be a deal if you call and tell them.

There's more you can learn from a quick look at daily hot sheets.  If for a week or two you're seeing a lot of sales but few new listings, inventory is dropping and it could mean higher prices or buyer competition if it continues.  This would be a good topic for a blog post.  On that subject, if you do regular market absorption rate reports, you'll gain an audience.  This is a report that gives the rate that properties are selling as related to the current number of listings.  As more homes are absorbed/sold, if new listings aren't keeping up, the drop in inventory could put upward pressure on prices.

There are usually some closing transaction items to take care of:

If you're doing deals, there are multitudes of action items, deadlines and deliveries involved. A busy agent spends time each day in getting paperwork to the right places, explaining contract items to clients, coordinating inspections, reviewing documents and more.

If you don't like detail and long laundry lists of to-do items, then find ways to streamline the process with technology or get an assistant.  Using Evernote, I can do task lists, maintain transaction folders, and many other things, and Evernote is free.

Working with buyer prospects and clients:

Working with buyer clients isn't just driving them around looking at homes or other properties.

There's a great deal of preparation involved in determining their needs, finding suitable properties and gathering information to help your buyer clients to make decisions.

Some of today's real estate websites or third party online sources provide you with an IDX search solution tied to a CRM, Customer Relationship Management system.  When a buyer registers and uses the IDX, you can see the type, price range and areas where the buyer is searching, as well as the homes they're viewing.  This is valuable information.

Here's a day in the life of a buyer's agent.

Getting, keeping and servicing listings:

Listings have always been the bread and butter of the real estate business. To serve sellers a real estate agent needs to possess excellent market knowledge, marketing skills, negotiation ability and much more.

Spend a day with a listing agent here.

A good agent can't stop learning - ever:

Most states require a certain number of hours of ongoing real estate business education to renew a license. However, most successful agents and brokers go far beyond the basic requirement and educate themselves about all facets of the business.

All about Professional Designations & Certifications.

Value to Your Real Estate Clients is Your Knowledge and Professionalism:

The complexity of a real estate transaction and the large amounts of money involved are things that concern most home buyers and sellers.

Part of your value to them as a real estate professional is your knowledge of the process.

Helping your clients with contracts, negotiations, inspections, and closing processes is a large part of your job. Continual education to keep up with laws and the market is a big part of the life of a real estate agent or broker.  As for your marketing, you should be doing your best to get your expertise into your ads and Internet marketing.

Think About or Work on Your Marketing Every Day

This could just mean checking your lead stats or your website traffic statistics.  Or, you may spend some time thinking of a new blog post topic.  The key is to never just set up some marketing and advertising and then just forget about it.  You must constantly monitor your marketing and the results you're getting.  

That's it, but isn't that enough for one day?  The key is to always be in "do it better" mode.