You’ve seen the cars, the tailored clothes, and (in most cases) had some interactions with a real estate agent that has likely left you wondering, “what does a real estate actually do each day?”
If you’re thinking about dipping your toe into the real estate industry, or you’re simply just wondering what the average day looks like for a real estate agent in Australia, then you’re not alone.
In fact, some rudimentary research reveals that more than 3,000 Australian’s ask what a day in the life of a real estate agent looks like in Google each month. With shows like Amazon’s Luxe Listings and it’s US counterpart Selling Sunset taking our screens by storm over the last few years, there may be some misconceptions (read: over-glamorised) ideas of what a day in the life of a real estate agent actually looks like.
In this article, we’ll peek behind the curtain to establish what a real estate agent does each day and, if you’re considering a career-change, what you can expect from your day-to-day life as a real estate agent in Australia.
An early start to the day
In most cases, the daily routine of a real estate begins (and ends) outside of the typical constraints of the 9-5-work day. For many agents, this means waking up early to plan the day, tie up any loose ends, plan out the day, and get a head start on the day with an early coffee, trip to the gym, or meditation.
As the divisive (and diminutive) Luxe Listings star Gavin Rubinstein pointed out in an interview with REINSW:
“Most agents fail because they don’t have structure. So one of the things I did at the beginning was to write up and implement a plan.
“To be successful you also need the discipline to stick to the plan, which is what most agents lack. Discipline is the bridge between goals and accomplishment and if you’re not disciplined, why aren’t you?”
In what can be an unstructured profession, many real estate agents report that this time in the day is one of the variables that they can control and, consequently, choose to maintain a solid structure.
Rundown of the day’s tasks
Once the early morning routine has been tended to, it’s time to take care of business. Understanding what needs to be done for the day and prioritising urgent tasks is a crucial skill for any successful real estate agent. This means staying on top of listings, planning for upcoming meetings and showings, and ensuring that the essential tasks are included in the daily planner.
For real estate agents, no two days ever look identical, which is why it’s important to have a clear understanding of the day’s tasks and the locations that they need to be in so they can be prepared.
Responding to urgent emails and voicemails
The morning is an essential time for real estate agents to prioritise their voicemail, emails, and urgent communications. Timeliness is the key to success, and the best deals can move very quickly so it’s essential they are touching base with key stakeholders (buyers and sellers) to communicate the latest developments in deals.
Whether you’re in sales or leasing, communication is the hallmark of successful for all great real estate agents and ensures that everyone is on the same page and that deals stay alive.
Now, when it comes to the glamorous perception of a real estate agent, the admin and paperwork is the part that rarely gets a look-in. But, for anyone that has worked in the industry or is close with someone that is, you’ll understand that the most successful real estate agents are often masters of admin.
Each transaction, whether you’re buying, selling, or leasing, involves numerous forms and reports that must be prepared. From the initial listing agreement, to purchase offers, contracts, and disclosure forms, ensuring that these documents are properly compiled is crucial. A single mistake in this process can lead to lengthy delays and (in some cases) cause deals to completely fall apart.
If this sounds like your idea of a nightmare, then it’s not all doom and gloom – you may just need to surround yourself with the right team. In a recent interview with Elite Agent, Michelle Stephens revealed that one of her keys to success was surrounding herself with the right people.
“You’ve got to get someone who compliments your weaknesses. No-one’s good at everything. You can’t do everything yourself. I’m a massive advocate for that. You’ve got to spend money to make money in a sense.”
Let’s face it, the real estate market moves quickly. Whether you’re in the industry, or you’re simply a sucker for a late night realestate.com.au or domain.com.au app scroll, you’ll know that the market shifts quickly. Between interest rate changes and fluctuations to buyer and seller demand, real estate agents need to be across the latest market trends in order to manage expectations with buyers and sellers.
Market research isn’t just about understanding trends, it’s also about identifying opportunities. Through research, real estate agents can identify where to direct their attention when it comes time to make those all-important cold calls.
Client meetings and property showings
When it comes to making selling, successful real estate agents know how to turn on a show and appeal to the sensibilities of buyers and sellers. For most real estate agents, the ability to read a room and respond to the myriad of different buyers and sellers that they will interact with is the most important skill.
Depending on how your location and stock, real estate agents can be under the pump from dawn to dusk with showings – particularly on Saturday’s. In a recent interview, Australia’s highest selling agent Josh Tesolin revealed just how busy things can get.
“I do 12 [auctions] on a Sunday. So, 12 back-to-back, unless a few sell prior. So last Sunday was nine. This Sunday is 13. Next Sunday is 14, and then I’ve got 15 after. So, we’re going from like 8:30 in the morning until 8:30 at night.”
Of course, when you’re writing $8 million in fees in a single year, it would be an understatement to say that Josh’s calendar would be at the upper end of crammed – even for a real estate agent.
Networking and lead generation
Off the back of a showing, there is always the opportunity to network and create new leads. Sydney Agent Gavin Rubinstein is big on utilising the intent of underbidders to drive more sales. In an Instagram story highlighting an on-stage presentation in 2021, Gavin explains how leveraging the intent of underbidders from an auction was the key to leveraging four more deals that involved multiple moving parts.
For many real estate agents, it’s a lesson that comes with times, but for those with the right team or mentor in place, learning the opportunities that come from setbacks and leveraging them into sales and new opportunities is a key learning.
More paperwork & admin
If there’s one thing that most people took away from Alec Baldwin’s iconic performance in Glengarry Glen Ross (1992), it was to do your ABC’s — “always be closing”. For real estate agents, there is no doubt that moving towards a close is essential. However, the real mantra must be “always be organised”. Staying on top of your paperwork at the end of the day can set you up for a smooth start to the next day and ensures that deals keep moving in the right direction.
For most real estate agents, the day closes with more paperwork and admin work that includes sending off emails, following up with clients, and crossing your T’s and dotting your I’s. In an industry that is often so often glamorised by the outward successes that can be had, it must be remembered that successful real estate agents aren’t just great communicators – they are great organisers.
Rest, repeat, & go again
Phew. End of day.
After a rollercoaster of phone calls, emails, handshakes, and follow-ups, many real estate agents crave a slow end to the day. Winding down and switching off is the key to waking up rejuvenated and ready for the next day.
If this sounds like the life you’re looking to lead, then find out how Entry Education’s real estate courses can set you on the right path for success in 2023 and beyond – whatever your real estate career aspirations may be.