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Published on 08/12/1996 All articles from this issue

Ten reasons why some Realtors are successful

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By Clyde Noel

Town Crier Staff Reporter

Real estate agents and brokers are working around the horn of plenty in these days of multiple bids.

Some experienced agents are approaching the $500,000 a year commission class while hundreds of others are getting close to the six-figure income level. And some are still starving.

There are lots of reasons why some real estate agents do better than others," said Gary Wheeler, manager of Los Altos Cornish & Carey. "Look at all these empty cubicles in our offices. They are empty because the Realtors are out beating the bushes. To be successful in real estate you need the work ethic."

Managers of other Los Altos real estate offices also know it's the work ethic that gets things done. Statistics extracted from the old Los Altos Board of Realtors to the today's REInfolink, report that sales of residential homes reveal 14 percent of the Realtors do 86 percent of the total residential market, while the remaining 14 percent of home sales is scattered among 86 percent of the Realtors.

Wheeler offered 10 reasons why 14 percent of the Realtors do so well. Besides the work ethic, Wheeler said a good Realtor has the following qualities:

Know your subject matter. You need to understand real estate law, know your market area, understand contracts and when to go to your manager when you need help.

Understand today's computer technology. Most Realtors need to use their laptops to connect to the network and know how to use it to extract information while they are in the field.

Willingness to sacrifice your time. Today's real estate business is now a seven day-a-week work effort. It's no longer an order-taking business.

Establish a clientele for repeat business. In the Silicon Valley, the average house turns over every five years. You have to know your customers in this semiconductor world. You have to stay in touch.

Continually improve selling and listing skills. You need a mentor to constantly help you keep up to date on personal skills to make a success in the field.

You need enthusiasm. Enthusiasm rubs off on your client. Don't be too exuberant, but don't be a dead fish with your clients.

Learn to understand people. With experience comes the ability to understand people and to learn how to read what your client wants. Listen to what they say and take notes.

Love what you do. You should have a feeling for what you are doing. You need to live and breathe real estate.

Attend seminars and workshops. PenWest offers seminars and workshops on computers, contracts and real estate courses.

Real estate companies like Cornish & Carey offer workshops where Realtors can learn the latest selling skills and stay up to date with real estate developments.

Learn to follow up. Every house that goes up for sale needs personal attention by the Realtor. Understand the property and the client's needs, and follow up on every detail.

Wheeler said Cornish & Carey is successful because of the team they put together. The Los Altos office has 75 agents.

"We have agents that can handle a $50,000 mobile home and agents who can handle a $5 million estate. Each is an experienced professional and can cover any transaction," Wheeler said.