New Jersey currently has 55,000 real estate professionals, while the National Association of Realtors boasts more than 1 million members. New real estate agents in New Jersey have at least 75 hours of training by the time they get their license and show their first house, but there is a lot that they still need to learn.
Dennis and Marshall Lynch, a father and son team in Rumson, New Jersey, have perfected their real estate analysis and techniques over 10 years and 1,000 transactions. Novices in the industry can learn a lot from this team’s analysis-based approach and strategies for timing the market and meeting each client’s needs.
Here are tips that experienced professionals like the Lynch team might share with new real estate agents.
Develop a Unique Selling Point
New Jersey has 55,000 real estate pros. You can stand out by offering things that no one else does. For example, you can follow the example of Marshall and Dennis Lynch by offering insights from in-depth local market analysis. You can also specialize in a specific area or type of property, honing your knowledge and skills until you are the best in your specialty.
Develop a Repeatable System
As a new real estate agent, you will not have all the answers. However, through experience and guidance from seasoned pros, you can develop a system for each step in a real estate transaction. For example, you should create questions that you can ask potential clients to find out their needs and goals. You should also develop protocols for analyzing the local market, calculating prices for a listing or an offer, and finding properties that meet buyers’ needs. You should create steps that you can repeat for each new client.
Become a Local Expert
You can specialize in a specific city, metro area, or region. Once you choose a place, you can use MLS listings, data, and sales records to become familiar with the local market. This research will help you find out which areas are desirable, how local housing prices react to market conditions, and which neighborhoods are experiencing the most growth. If you spend enough time on the MLS, you will be able to immediately spot good deals and act on them before other agents.
Don’t Pressure Clients
For most clients, purchasing a home or business property is the biggest investment of their lives. A good real estate agent will understand this and give clients the time that they need to make their decisions. At the same time, you need to develop the tact to tell them when the market is favorable, and it’s time to act.
Educate Your Clients
As a real estate agent, you spend all day analyzing the market, seeking dealing, and showing houses. With this wealth of knowledge, you may be tempted to simplify everything for clients. Another approach is to share your knowledge with them. For example, share what you know about the potential for equity growth in a specific neighborhood or what new developments could mean for the value of a prospective home. These insights will help clients feel more informed and confident when it is time to decide on a property.
Get Insights from Rumson, New Jersey, Real Estate Experts
Dennis Lynch and his son Marshall use in-depth market analysis to define the latest trends in real estate and give their clients the guidance and insights that they need to choose the best property for their goals and time their purchase.
If you are in the Rumson, New Jersey, area, and need a real estate expert to help purchase or sell a home, contact Dennis and Marshall Lynch.