7 Tips for the New Generation Brokers

Whether you're in a brokerage firm, a freelance broker or one that only does brokerage as a sideline, these tips are helpful in having a more holistic approach to brokerage practice and gaining momentum in selling and getting more clients and referrals.

1. Focus on one location, master it wholeheartedly.

Brokers usually have one to two people in mind when they have a lead - be that person. Share useful information other brokers tend to leave out. Current market prices or economic indicators are the usual things but think additional research information like foot traffic, better roads to take, average returns of tenants in the area among the few. Then once you've mastered it, move on to your next location.

2. Don't be greedy, that's when you're sure to lose sales.

Selling at least once a week or once a month is a lot better than having twice, thrice or even four times as much commission once a semester. Work with brokerage firms and agents as each is bound to know one lead. You gain more contacts and experience a lot faster.

3. Have a bigger purpose than just selling.

Brokers are often tempted to just think of sales and quotas, but don't forget to think macro and remember that brokers play an important role for the economic development of the country. You can be reminded of these by regularly attending real estate seminars on green buildings, BERDE/LEED-accreditation and going to events by groups such as the Urban Land Institute and Philippine Green Building Council.

4. Give back a certain percentage for every close.

Some give 10% to their church while others give it to institutions with a community-related purpose. Whatever it may be, it's one way to keep yourself motivated and feel like you're contributing to their growth. Plus, sharing is scientifically proven to increase someone's success so why not give it a try every now and then.

5. Innovate your service - regularly.

They always say service is what matters, but what makes you better than the rest is staying one step ahead by always thinking of new ways to improve how you deal with your clients or co-brokers.

6. Use technology to your advantage.

Use Google applications and up-to-date photo editing and presentation software. At the same time, update yourself with research information from different real estate services firms. Maximize technology to plan your viewings, set your reminders, provide appealing presentations and materials and learn about new programs and systems to sort your listings efficiently.

7. Think marketing and sustainability.

Don't forget to think about marketing yourself and always keeping in mind what your unique selling point is as a broker and keep working on it. You also have the ability to provide income to a maximum of 20 people by taking them in and accrediting them as your agents. You share a percent of your commission but it would definitely speed up your transactions as each would have their own specialized tasks.