6 ‘Must Knows’ for a Property Professional

 

Becoming a property professional is a highly rewarding career choice but there are a few practices that can set you apart from the rest. Here are some tips on how to provide the best service you can.

1. Local Knowledge

Property professionals must know the local area in a detailed and integrated way. It is not enough to know what is going on in the Australian property market, you must have information specific to your location. This will include the following:

• Recent sales history and current sales trends
• The nature of the demographic and predicted changes to the demographic
• Features of the types of housing particular to your area and the fundamental architectural features of those properties
• Predicted development plans in your area
• Information about access to services and infrastructure

Local knowledge will immediately establish confidence in your clients. It will also allow you to begin a transparent, open conversation about what they are looking for and what you can provide.

2. Current Policy

Property professionals should be up to date with current policy regulations and changes. This protects both you and your client. You can then perform your role with confidence and minimise the chances of unwittingly acting with negligence.

3. Financial Trends

Staying in touch with current financial trends will allow you to offer the best support and guidance possible within the parameters of your qualifications. Keep up to date with information about lending, borrowing and interest rates and use this to complement your real estate knowledge.  But remember that you cannot give financial advice as a property agent, and that you must always provide generic information only and not be specific about the individual circumstances of the client.

4. Get to Know Your Demographic

Get to know your demographic and who is buying or renting at any given time – are they young families, students, or retirees? Get ahead of the game by finding out what type of people are in your area and what they are looking for.

5. Be Social Media Savvy

Social media is a part of the daily lives of the majority of consumers and those looking at property are no different. It is the information age and consumers expect as much information as possible to be available to them. Clients like to be able to view properties online, search relevant information and statistics, and research as much as they can in advance. But this doesn’t mean the agent themselves is not still integral to the process.

By adopting social media strategies, you can take advantage of this valuable tool. Build your own profile and property professional reputation online and enjoy having it work for you. That way, when clients are researching properties and statistics, they will be likely to find your services.

6. Understand Your Clients

Your clients are placing a great deal of trust in you. When you have a clear understanding of their financial and general lifestyle concerns, you will be better able to offer a service that sets you apart. Whether the current climate is a confident or a conservative one, your role is to guide your clients through their property decisions with integrity.

To learn more essential information for property professionals, invest in further education. The Australian College of Professionals offers a range of courses to kick-start your career or further your professional knowledge. Contact us online or call 1300 88 48 10.