Want to learn how to be a top real estate agent in today’s market? It takes a lot more than a real estate license and a can-do attitude.
But once you know what needs to be done, the path to becoming a top agent is clear.
How to Be a Top Real Estate Agent in Today’s Market
Whether you’re an aspiring agent, a new licensee, or an experienced pro, you can use these 10 tips to become a top real estate agent in your area.
Top Agent Tip 1: Master Lead Generation
Without new buyer and seller leads, your business quickly dries up. You have to keep the pipeline full to keep the income flowing. So you need to know how to generate leads consistently.
The good news is that there are tons of legit ways to generate new leads, including:
- Blogging on your website to gain traffic from search engines
- Launching a Renter-to-Homeowner Program
- Offering a free guide to FSBOs (For Sale by Owners) so they can see what it takes to sell a home
- Hosting a first-time buyer seminar
- Marketing yourself on social media
- Etc, etc, etc
Different strategies work for different agents in different markets. Check out our list of 75 brilliant lead generation ideas and see what appeals to you. Pick just a few to really focus on. And give them time to work (at least 6-12 months). Then you can reevaluate or add new lead-gen sources.
Top Agent Tip 2: Get Comfortable Talking About Compensation
In the wake of the 2024 NAR settlement, agents need to be much more explicit about how everyone is paid. There’s no longer an assumption that the sellers will cover fees for both their agent and the buyer’s agent.
Buyer’s agents:
You need to negotiate your fee with your buyers upfront. They’ll need to sign a representation agreement, with your compensation clearly outlined, before you can show them any property. Be ready to explain and justify your rates. Then educate your buyers about seller concessions and how it could be possible to get the seller to provide funds to cover the fee. Be upfront about the pros and cons of requesting seller concessions and manage expectations based on your current market conditions.
Listing agents:
In addition to explaining and justifying your rate, you should prepare your sellers for the possibility that incoming offers will request a concession to cover the buyer’s agent’s fees. Explain the pros and cons of offering a concession in the context of your current market conditions.
Top Agent Tip 3: Know Your Market
Pop quiz:
- What is the average price range for a three-bed, two-bath in your market?
- How long does the average four-bed, three-bath home take to sell in your market?
- Which features are the most in demand by local buyers?
When you have a prospective client standing in front of you, asking you these questions, you want to confidently (and correctly!) answer them on the spot.
Invest just 10-15 minutes each day in reviewing the new listings, new contracts, and completed sales. Pay attention to the size, price, location, features, and days on market. You might even provide regular market updates via email, social media posts, or both. Demonstrate your expertise to build trust with your prospective clients.
Top Agent Tip 4: Show Your Value
Be ready to explain what you do for your clients and how you provide the best possible experience while getting results.
In your marketing materials, include a list of every detail you handle for your clients.
Need inspiration? Check out NAR’s 179 Ways Agents Who Are REALTORS® Are Worth Every Penny of Their Compensation. And for goodness’ sake, use a catchier title on your marketing materials!
Top Agent Tip 5: Create New Income Streams Through Expanded Services
Relying solely on compensation from real estate sales is a risky proposition. As a new agent, it naturally takes time to build your business to the point where you generate enough consistent income to support your lifestyle. And all agents, no matter how experienced, are affected by seasonal market changes and cyclical market shifts.
This is why savvy agents have multiple streams of real estate income. Some are highly passive (like referrals to out-of-area agents and long-term rental properties) while others improve your clients’ experiences while generating recession-proof income. For example, you could offer credit counseling services to help your prospective buyers improve their credit scores to qualify for favorable mortgage loan terms. Or you could handle property tax appeals for homeowners whose properties are over-assessed.
The best part: you can cross-promote your services for repeat and referral business! Let’s say you offer property tax appeals. So every year, you provide free tax reviews for local homeowners. If the value is fair, you let the homeowner know that you have confirmed this, so they can pay the tax bill, knowing that they’re not being over-charged. If the value is too high, you offer to appeal it for a percentage of any tax savings achieved. Either way, you’re providing a valuable service just by reviewing the assessments each year (which often takes only minutes per property). So you already have a competitive advantage over other agents when your tax appeal clients are ready to sell their home, buy a new home, or invest in real estate!
Top Agent Tip 6: Leverage Technology
Tech can help you work more efficiently and reach a wider pool of potential clients.
Utilize tools like virtual tours and 3D walkthroughs to cater to clients who prefer remote viewings.
And take advantage of AI innovations like ChatGPT to handle tasks like brainstorming newsletter content ideas, drafting social media captions, writing email replies, enhancing your listing descriptions, writing your video scripts, or outlining eBooks.
Top Agent Tip 7: Build a Strong Online Presence
Having a professional-quality website is one of the single quickest ways to establish credibility. And with today’s tools, any agent can build their own real estate website. Your site serves as the hub for your online presence and can generate its own streams of income when done right.
SEO (search engine optimization) is the secret to getting passive leads from search engines like Google. As you add content to your website (through the webpages and blog posts), you give Google more information to index. This increases your chances of being on the first page of search results when buyers Google pertinent questions. For example, say you’re a San Diego agent with a blog post about the 10 best neighborhoods for homebuyers in San Diego. When someone Googles something like best neighborhoods in San Diego to buy a home, Google could suggest your site to them. Once they’re on your site, they can see that you know your stuff and start to trust your expertise before you ever meet them! Check out SEO for Realtors for practical ways to implement SEO on your website.
With your website in place, you can expand to social media platforms and other search sites (like YouTube and Pinterest). It’s a good idea to maintain a basic presence on the main platforms, and then choose just one or two to really focus on.
Top Agent Tip 8: Niche Down
New agents often make the mistake of casting a wide net. They want to appeal to every buyer and seller in the area. The problem is that generic messaging doesn’t resonate as well as targeted messaging.
For example, say I’m an empty nester in LA looking to downsize. I see one marketing message saying I help Lake Havasu buyers and sellers get results and another saying I specialize in helping Havasuvians “right-size” into smaller homes for a comfortable retirement. Of course I’m choosing the agent with the messaging that speaks to my specific situation.
When you choose a niche, you no longer have to compete with every other agent in your market. You become one of the few go-to agents in your niche and more business comes your way.
Need some ideas? Take a look at these 10 real estate agent niches.
Top Agent Tip 9: Continually Build Relationships
You’ll constantly hear industry veterans say that “real estate is about relationships.” And they’re exactly right. Building and nurturing relationships will naturally open more doors and provide more leads.
Your relationships are the key to getting repeat business and referral business. These are a gold mine for agents because these lead sources require less money, time, and effort than other lead sources.
So get out there. Attend local events, partner with other industry players (like mortgage lenders, home inspectors, and escrow officers), and maintain relationships with everyone in your ever-growing sphere.
Top Agent Tip 10: Improve Your Negotiation Skills
Negotiation skills have always been a keystone of what it takes to be a real estate agent. It’s your job to negotiate the best price and best terms the market will support for your clients.
But since the NAR settlement, negotiating with your own clients for your compensation has become more important. Know what you’re worth and know how to convince your clients of that worth.
What do you say when a client asks if you’ll take a lower commission? What do you say when they tell you another agent is willing to work for less?
Prepare your answers so you can confidently reply without missing a beat. You might ask the client to consider which services they’ll be giving up by going with a discount agent. Or you might express concern for your client being represented by an agent who can’t even negotiate his or her own compensation – how aggressively will that agent negotiate on behalf of those clients?
There are many useful books and audiobooks on negotiating for anyone who wants to improve their negotiation skills.
Click the image above to save this article to your Pinterest board for easy access!
Join the Top Real Estate Agents in Your Market
Now that you know how to be a top real estate agent in today’s market, you just need to map your path to success. This starts with a business plan. A strong real estate agent business plan will help you cement your branding, marketing, finances, and operations so you have a clear path forward. There’s no more guesswork, overwhelm, or feeling of being lost…you simply set your plan, then follow it to success!
Build your real estate agent business plan today, and you’ll soon join the top agents in your market!
