The real estate broker profession is an increasingly popular choice for many. There are many reasons. Some really know what they are getting into and are willing to do it, while others are just entering the wilds of the real estate world and will challenge themselves. As one of the best experts in Bulgaria for more than 16 years, let us tell you a little more about what it's like to be a luxury real estate broker.
There are many different benefits to being a real estate consultant. Part of them is that you are the master of your own time and determine when, how much, what and with whom to work. It is widely believed that being a broker is easy because no prior training and serious competencies are required. This is not quite true. If you have a desire, you can become a broker without previous experience, but you have to go through training and only after some time you will be able to realize significant deals and accumulate useful contacts. If you have decided to embark on this adventure, we will first introduce you to the pros of the brokerage profession.
After the coronavirus pandemic, the attitudes of employers and employees about working hours have changed significantly. In addition to a home office, some of the candidates already require flexible working hours, which they can combine with studying, looking after a small child or other activities, so the floating schedule turns out to be a serious plus. The broker's working hours depend on his appointments, scheduled inspections and administrative tasks to complete. A broker can organize his day so that one day he is busy from morning to evening, and the next day he is completely free. In addition, most buyers prefer to make inspections after the end of their standard working hours, and the broker can visit various institutions or spend the rest of the day in the office.
It is clear to most people that the broker receives a percentage commission for each completed transaction. When selling luxury houses and apartments in the high segment, the amount is not small at all and can reach impressive sizes, equal to several average salaries. High incomes are an additional incentive for anyone who is about to grow a family and secure their future, buy a car or house, invest in a new project, and others. Not every activity offers the opportunity for such rapid career growth, where everything depends on you and your dedication. Real estate has always been and will remain the safest investment in people's savings and the market will be stable, even in shocks and crises, mostly and less affected in the high segment.
We will not hide that it is quite tempting and pleasant feeling to have visited multi-million properties owned by influential people, houses with a solid history, aristocratic apartments with a rich cultural heritage and many others, where you discover things that you do not see every day. Being a real estate agent means you are part of a community where lots of useful information about the market as a whole is shared. You will be the first to learn about new projects being planned in the city and the surrounding area, you will have access to exclusive buildings, a quality customer database, confidential offers and much more.
If you are good at communication and have business acumen, you can very quickly advance in the profession and reach from a sales assistant, a senior partner, and why not an even more senior director position in the company you work for. The good news is that it all depends on you and your drive. Almost every budding broker has a mentor to learn from and someone to guide them until they become more confident and self-assured. He can quickly convey to him the experience of various cases that he has encountered, meet him with other people to consult with on a variety of legal or financial advice, which are an invariable part of the daily life of a real estate consultant. Development can happen in a few months, or it can take years - apart from personal qualities, it also depends on other external economic, political and social factors. But with good will and ambition - success is guaranteed!
Like everything, there are two sides to the coin, so it is in the brokerage profession. We at Unique Estates have already chosen our path, but of course we have to agree that there are some downsides that we would like to share with you to be completely honest.
In addition to the properties you offer, the clients you work with also play a key role. In this field, you need to know the right people to be successful. It is no coincidence that brokers often go to corporate events and look for ways to find high-paying people who could be potential clients. Partnerships with different businesses with clients with similar interests also pay off. You need to be communicative, personable and really understand your business in order to attract clients who want to trust you. Most people buy a property once or twice in their lifetime - a home is not an everyday purchase and unless it is for investment purposes, a person is unlikely to be your client multiple times. But if he remains satisfied with you, he may recommend you to friends and acquaintances when they too are faced with the process of looking for a home to buy or rent.
We cannot deny that sometimes the day starts at 7 in the morning and ends at 9 in the evening. Many people prefer to do inspections on the weekend, when they rest, but for you, Saturday and Sunday will turn out to be completely normal working days. You may sometimes have lunch on foot or in your car while traveling to the next sight on the other side of town, and you can't wait to get home and just have a glass of wine at the end of the day. Yes, it's a long day when you're busy, but the joy of labor afterwards is doubly rewarded!
As we mentioned at the beginning, some people think that being a realtor is easy and does not require serious knowledge. But in order to be a truly qualified professional, a proven expert with skills and experience behind you, as in other professions, you need to constantly upgrade and improve. The market is extremely dynamic and in order to meet the expectations of customers, it is important to go through various trainings, seminars, conferences, participate in conferences, visit various places at home and abroad in order to acquire the necessary certificates that certify your work and they make a preferred choice over your competitors. There are certain peculiarities in the process of realization of properties in the high segment, as well as the approach with clients, which differ in some way from the others. In addition to sales and communication skills, a good broker must be able to talk and understand the needs of his clients like a true psychologist, understand legal and financial issues, and be able to assist in cases related to interior design and design. All this is learned over time and is achievable as long as one wants and does not stop developing.