The National Association of Realtors (NAR) has just released another interesting report based on its survey of agents. “Choosing a Career in Real Estate: a Perspective on Gender, Race and Ethnicity” is set to reveal what motivates people to pursue a career in real estate and what real estate skills they need.
One of the most interesting sections of the new report is the breakdown of real estate skills that agents name to be crucial for achieving success in both residential and commercial real estate.
Let’s take a closer look at what your peers are saying.
Crucial real estate skills every agent must own
Residential real estate
Given that real estate is all about personal connections and communication, people skills are named as the most important real estate skill to possess. At the same time, higher education and a degree are not thought as something worth pursuing that much:
1. people skills – 86%;
2. self-motivation –84%;
3. negotiation skills – 73%;
4. problem-solving skills – 73%;
5. attention to detail – 68%;
6. communication skills – 67%;
7. resilience – 51%;
8. sales and marketing acumen – 50%;
9. technology skills – 44%;
10. assertiveness – 43%;
11. cultivation of business network – 42%;
12. analytical reasoning – 40%;
13. financial acumen – 30%;
14. completion of higher education – 14%.
Commercial real estate
CRE professionals rank their top-needed skills somewhat differently, with negotiation skills being the most important:
1. negotiation skills – 69%;
2. problem-solving skills – 63%;
3. analytical reasoning – 62%;
4. self-motivation – 61%;
5. cultivation of business network – 59%;
6. financial acumen – 59%;
7. attention to detail – 58%;
8. people skills – 58%;
9. communication skills – 57%;
10. sales and marketing acumen – 50%;
11. assertiveness – 45%;
12. resilience – 45%;
13. technology skills – 42%;
14. completion of higher education – 22%.
NAR infographic
For more info on what makes real estate a promising industry for people, check out this infographic from NAR:
