Insider Insights: 10 FAQs For Every Agent

Whether you're a new real estate agent or a seasoned pro, having the right knowledge can make all the difference in your success. From licensing costs to building your clientele, we've compiled the top 10 frequently asked questions every agent needs to know.

Read on for these expert insights to help you navigate challenges, close more deals, and build a successful real estate career.

FAQ #1: How Do I Find Clients as a New Real Estate Agent?

One of the first real estate agent FAQs you’ll need to tackle is building a client base. The truth is that it takes a long time to cultivate a steady stream of clients, so you’ll need both patience and persistence.

Here are some tactics you can use to find clients (and make finding future clients easier):

• Start With Existing Networks. Spread the word among friends, family, past colleagues, and members of your community about your career shift and ask them to send referrals your way.
• Expand Your Networks. Build strong working relationships with your community as well as other agents and real estate professionals. Think outside the box!
• Cultivate Excellence and Authority. Become someone worth recommending – work on building your reputation as an attentive, effective, and knowledgeable agent. See FAQ #8 for more tips.
• Engage in Multi-Channel Marketing. Experiment with different marketing channels and track what leads to the best success. Social media marketing, in particular, is a great way to make new connections for little to no money.

FAQ #2: What Are the Essential Documents I Need to Understand?

Understanding key documents is paramount for a successful real estate career. Here are some of the most important ones:

• Listing Agreements: This contract outlines the terms between a seller and their agent, including commission fees, listing price, and marketing strategies.
• Purchase Agreements: This legally binding document outlines the terms of the sale between buyer and seller, including price, closing date, contingencies, and inspections.
• Disclosures: Sellers are required to disclose any known defects or issues with the property.
• Lead Paint Disclosure: This applies to properties built before 1978 and informs potential buyers of potential lead hazards.
• Closing Documents: This complex paperwork finalizes the sale and transfer of ownership.

FAQ #3: How Much Does It Cost to Become a Real Estate Agent?

The cost of becoming a real estate agent varies depending on your location and chosen pre-licensing course provider. However, some general costs include:

• Pre-Licensing Courses: These courses cover essential real estate laws, ethics, and practices. The course length and topics vary by state.
• Real Estate License Exam Fee: You’ll need to pass an exam on general concepts and relevant state laws to obtain your license.
• Real Estate License Application Fee: Real estate boards usually charge a processing fee for your application.
• Background Check Fee: You’ll need to pay a third-party vendor to conduct a thorough background check before you’re granted a license.
• Brokerage Fees: New agents typically work under a supervising broker who charges a fee for affiliation and support.
• Real Estate Association Membership: Membership in local or national real estate associations can provide valuable resources and networking opportunities, but you’ll need to pay dues.

In many cases, you can earn your real estate license for under $1,000. You can find other posts with specific cost breakdowns for Florida, Georgia, New York, Texas, Virginia, and others.

FAQ #4: What are Some Essential Real Estate Agent Skills?

One of the most common real estate questions for early-career agents is, “What skills do I need to be successful as a real estate agent?”

While every agent has their own strengths to play on, there are a few essential skills that you should always work on cultivating. This includes:

• Communication: It’s at the heart of everything you do. It's how you build trust with clients, persuasively present properties, and negotiate effectively on their behalf.
• Marketing & Salesmanship. Attracting clients and closing deals requires talent at selling yourself, your services, and your listings.
• Negotiation: Mastering this skill is essential for real estate agents, as real estate transactions often involve back-and-forth discussions between buyers and sellers. Your goal is to secure the best possible deal for your clients.
• Organization & Time Management: These skills are essential for success since being a real estate agent means being your own boss and constantly juggling clients, appointments, and deadlines. Not only will these skills make your life easier, but clients will take them as a sign of general competence.

FAQ #5: What Technology Tools Should I Use?

The modern real estate landscape thrives on technology. To stay ahead of the curve, you'll need to embrace a suite of technological tools.

Key options you may find helpful include:

• Customer Relationship Management Software (CRMs): These systems act as your digital command center, helping you manage client interactions, track leads, and keep your business meticulously organized.
• Marketing Software: Your general marketing efforts are essential to reaching a wider audience and showcasing your listings effectively, but you want to streamline them as much as possible. You can use tools like Hootsuite or Buffer to manage and schedule social media or Canva to quickly produce graphics that pop.
• Property Marketing Tools: Home-seekers these days expect a certain amount of polish on home listings to even get their foot in the door. Technology can help – consider leveraging tools like 3D tours, virtual staging, and drone photography to make your listings stand out.
• Administrative Technology: The real estate business involves a lot of paperwork and communication. You can ease the headache and streamline your document processes with tools like DocuSign or CamScanner. You should also consider AI chatbots to reduce the amount of effort you need to expend on routine client communications.

FAQ #6: How Do I Handle Difficult Clients?

Handling difficult clients could be its own set of FAQs for new real estate agents. The best tactics are going to depend on whether the challenge you’re facing is indecisiveness, emotionality, a know-it-all attitude, entitlement, or something else. It’s probably worth looking for real estate tips for agents based on the specific situation. Find real estate agent communities and ask how they prefer to deal with a particular type of client.

Regardless of the problem, there are a few tactics that will always help.

• Remain Calm & Professional. Whether the client is nervous, angry, or overly familiar, the best way to deal with them is to keep a cool head and put your best professional foot forward.
• Listen & Reflect. Pay attention to what the client is saying and what they’re not saying. Practice active listening to make sure you’re understanding their concerns accurately.
• Set Boundaries. You’re allowed to have a life outside your job, and you’re entitled to be treated as a professional. If a client is running roughshod over you, set clear boundaries and enforce them firmly and consistently.
• Know When to Walk Away. Remember that you’re in this to make money. If a client is taking too much time and effort with little to show for it despite good faith efforts, it may be time to end the relationship. Frame the “breakup” as a bad fit and end things on a civil, professional note.

FAQ #7: What Are My Fiduciary Duties To My Client?

Real estate agents have a fiduciary duty to act in their client’s best interests at all times.

A real estate agent’s fiduciary duties can be broken down into a few distinct components:

• Duty of Loyalty: to avoid conflicts of interest
• Duty of Obedience: to follow their client’s lawful instructions
• Duty of Disclosure: to disclose all material facts
• Duty of Confidentiality: to keep their clients’ personal, financial, and business information private
• Duty of Accounting: to account for all funds and documents related to a transaction
• Duty of Reasonable Care and Diligence: to perform competently and prudently with all their skill and expertise

FAQ #8: How Can I Build a Strong Reputation as a Real Estate Agent?

Building a strong reputation takes time and consistent effort. You need to:

• Deliver Exceptional Client Service: Prioritize your clients' needs, go the extra mile, and exceed expectations.
• Become A Market Expert: Stay informed about local trends and demographics to provide valuable insights to clients.
• Show Off Your Expertise: Post substantive, helpful content on social media.
• Leverage Online Reviews: Encourage satisfied clients to leave positive reviews on platforms like Zillow and Google.
• Get Involved In The Community: Building relationships within the community establishes you as a trusted local professional.

FAQ #9: How Do I Deal with Rejection & Stay Motivated?

Staying motivated in a competitive market requires focus, self-discipline, and the ability to repeatedly pick yourself off the ground.

Rejection, in particular, can be a challenge. Unfortunately, in real estate, it’s an inevitable part of the journey. The key is to learn from each lost client or deal and use these experiences as springboards for improvement.

Reframe the way you think about “rejection” or “failure” into a valuable learning experience. Take some time to analyze why you might have lost a client. Honest reflection helps you identify areas for improvement and refine your approach for future interactions.

At the same time, you need to build personal resilience. Keep a journal of successes and positive feedback that you can look back on when you have doubts. This will help you stay positive and persistent during difficult periods.

Build supportive relationships with mentors and peers – after all, the best place to get real estate agent career tips and insights is your fellow professionals. Having others who understand the challenges of the job and have successfully worked through these challenges in the past is important.

FAQ #10: What Resources Can Help Me Succeed as a Real Estate Agent?

Numerous resources are available to support new real estate agents. Here are a few key ones:

• Your Brokerage: Choose a brokerage that offers strong training programs, mentorship opportunities, and marketing tools to support their agents.
• Real Estate Associations: Join local, state, and national real estate associations for access to resources, continuing education, and networking events.
• Online Resources: Find websites and online courses that offer valuable information, tips, and training materials for real estate agents.
• Real Estate Mentors: Seek guidance from experienced agents who can offer personalized advice and support on how to handle common real estate scenarios.

Bonus FAQ: What’s the Easiest Way to Keep Up My Education?

With a career in real estate, there’s always more to learn; these FAQs are just the tip of the iceberg. There are so many avenues for gaining and sharing knowledge these days, but at least some of your learning will need to be through formal coursework – your state’s real estate authorities will insist on it.

Online courses with a reputable online provider like us can be the most painless way to keep up with pre-license, post-license, and continuing education (CE) training requirements. As a busy professional, you’ll be able to study at your own pace, whenever and wherever it’s convenient for you.

Check out our catalog and enroll today!

Written and Published by: VanEd