real estate agent

real estate agent

Introduction

A real estate agent is a licensed professional who is performing the duty of arranging the real estate transaction. He or she puts the buyers and the sellers together by acting as the representative during the negotiation process. In most cases, real estate agents depend on the commission as a way of compensation after the purchase of the property. Most of the real estate agents have specialized in either residential or commercial real estates, and they are performing different duties based on whether they are working for the buyers or the sellers (Anderson, Guirguis & Turnbull, 2018).  Most of the agents who are working for the sellers play a vital role in advising the customers on the prices of the property and ensure that he or she prepares it for sale. A Seller agent is marketing the property by listing services, doing advertisement and making networks with other people. Therefore, this paper aims to conduct a SWOT analysis of a successful licensed real estate agent in Florida.

SWOT analysis

Strength

As a successful licensed real estate agent in Florida, one of my strengths that has made me achieve success in real estate field negotiation skills.  The significant part of my job has been proper negotiation skills which have helped me to win most of the clients (Figurska & Wisniewski, 2016). I came to realize that a negotiation skill is an essential aspect for one to be successful in real estate because most of the people are running to this profession, and the completion is high. I have been able to haggle mostly over selling price, my commission and listing price. I have taught myself on how to bargain my commission which is an essential aspect in real estate agent hence I have managed to become a successful real estate agent in Florida.

I have developed strong business acumen; this means that I have the ability to make good judgment and quick business decisions. It is vital to have business acumen because it helps customers to understand the complex transactions involved in the real estate business. The ability of strong business acumen has enabled me to have the business sense of handling marketing strategies, proper administration work accounting and sales. My strong business background has made to thrive in the field of real estate because I have toiled to study and learn some of the vital business tactics in order to be a successful real estate agent (Joisten, Ullrich, Hoven & Köln, 2016).

Local knowledge has been one of the personal skills that have contributed to my successful real estate agent. I took the advantage to know well the local communities in Florida because it is difficult for one to become a successful real estate agent without the exact knowledge of the communities and the neighbourhood.  Local knowledge helped me to understand the rules and regulations in different communities within Florida State and the value of the properties (Anderson, Guirguis & Turnbull, 2018).  Communication skill is also another strength that has made me thrive in the field of real estate. I have been able to develop excellent communication skills with most of my clients. This has helped to discuss important matters with the customers before getting into the contract and ensure that everyone benefits from the deal. Therefore, good communication skill has helped me to convince most of my customers and have a successful deal.

Weaknesses

To become a successful real estate agent is one of the most challenging tasks ever, as much as I have made tremendous steps in this field; I still have some personal weaknesses. One of the weaknesses that make my profession to be at a standstill is the implementation of e-commerce. E-commerce is the process of selling goods and services through the internet. The process of implementing e-business has been one of the challenges I am facing as a real estate agent e-commerce do not require a physical location for clients to make inquires, but instead, clients can make inquiries online when there is a business web site. It will be easier for my business as a real estate agent to establish an e-commerce platform where my customers can get the information they need (Figurska & Wisniewski, 2016).

Another weakness is about low brand recognition; I have realized that most of the national and the regional real estate agents are dominating the business by having high brand recognition. Majority of the home sellers are taking the advantage listing the properties with some of the firms which are recognized and are offering much exposure by multiple listing services (Joisten, Ullrich, Hoven & Köln, 2016). I have, therefore, realized that low brand recognition had made my profession as a real estate agent to be stagnant.  I am, therefore, looking forward to register with some of the highly cognized real estate firms in order to boost my sales.

The greatest weakness I am facing as a real estate agent is the establishment of real estate technology. There are some of the crucial real estate technologies which make work easier, but I have a weakness in establishing one. One of the real estate technologies that make work easier is property matrix; this is a cloud-based software that is offering a full suite of managing application with the functionalities such as the property accounting, CRM, building maintenance, lease and tenant track and property marketing.  Property matrix makes the work of real estate agent to be efficient and effective, and my main aim is to focus on how I can use the software for my business (Anderson, Guirguis & Turnbull, 2018).

Opportunities

When analyzing the field of real estate, most of the agents have not introduced the use of modern real estate technology. Therefore, I have taken an opportunity to strengthen my weakness in the business by introducing the use of the property matrix. This is going to help me to be able to to make a significant step in the real estate field (Figurska & Wisniewski, 2016). It will offer me the opportunity to have a good marketing strategy. Solve some of the accounting problems that are causing a nuisance; it will help me to be able to maintain the buildings and the same time track tenants who may not be cooperating with me.

I have also realized that through the use of e-commerce, my profession is able to go far, as a real estate agent is vital to use the opportunity of online sales and marketing properties. I have realized that most of the real estate agents have not taken the challenge to use e-commerce as a means of making sales (Joisten, Ullrich, Hoven & Köln, 2016). In the current world, technology has made it easier for most of the business to be able to sell their goods and services through the use of online platforms such as what app, Facebook, histogram and web sites. I have, therefore taken the opportunity to use online platforms in order to be able to reach different communities who also have the interest to acquire properties in Florida.

Education opportunity in the field of real estate is also crucial because it helps to acquire the necessary knowledge one should have in order to become a successful real estate agent. I have realized that majority of the people who are getting into real estate business do not have a professional qualification and therefore, they end up failing on the process before they become successful(Figurska & Wisniewski, 2016). I have taken the opportunity to ensure that I have the right education and skills in order to surpass most of my competitors, who are also in the same industry. Proper training makes it easier to understand the dynamics and makes work more comfortable to deal with clients and solve most of the problems encountered.

Threats

One of the threats that I have realized I am facing as a successful real estate agent in Florida is the high level of competition from my competitors. Most of the people have realized that real estate business is rewarding and therefore, majorities are putting huge investments in order to become successful service providers in real estate. This is the reason why I have tried to ensure that I am coping up with them so that they don’t leave me behind by equipping myself with proper education so that I can also compete them (Joisten, Ullrich, Hoven & Köln, 2016).

An insufficient fund is also a threat to me because I have not been able to implement most of the needful and necessary resources to make the profession more successful. Due to lack of enough funds, I have not been able to install the property matrix to put my business into the next level. I have also not been able to introduce the use of e-commerce in order to reach different people through the use of media platforms. Therefore, I am working hard to ensure that in case I get some financial freedom, then I will be able to implement a proper online platform for my business (Anderson, Guirguis & Turnbull, 2018).

Conclusion

Being a real estate agent involves various opportunities, and at the same time, it involves weakness and intimidations. I have realized that there are vital skills that a real estate agent should acquire to become more successful. These include good communication skills, use of technology and proper education. The field of real estate also involves threats such as competition and insufficient funds to run a successful real estate business. Therefore, it is vital to focus on the essential skills as a real estate agent to become successful in future.

References

Figurska, M., & Wisniewski, R. (2016). Fundamental Analysis–Possibility of Application on the Real Estate Market. Real Estate Management and Valuation, 24(4), 35-46.

Joisten, M., Ullrich, O., Hoven, K., & Köln, R. F. (2016, November). GeoReal: Location-based Services for Real Estate Agents in Florida. In 13, the International Conference on Location-Based Services (p. 257).