4 Realtor Personality Profiles & What Brokers They Need
Working with lots of different types of real estate agents has taught me a few key insights about how they work and what they need from real estate brokers in order to see growth and score the big wins we all want.
I’ve broken down the characteristics of realtors I’ve met during my time in the business into four distinct profiles. These profiles can help you figure out more about where you are and, armed with the knowledge of what you need in a broker, you’ll be able to work smarter when choosing a real estate brokerage.
- The Deal Makers
Deal makers, as their title may suggest, are incredibly self-motivated. These people may fall into a more transactional mindset because they’re in this for the business. They love the thrill of the hunt and are hungry to close a deal. Deal makers tend to gravitate toward 100% shops, which refers to brokerages that allow agents to work for free. Basically, if you make $1,000, you keep $1,000.
- NOTE: 100% shops may require some kind of bill back for services at the end of the month or have small transaction fees for agents, but they are often advertised as 100% shops.
Deal makers may find themselves closely aligned with people who work at these types of brokerages because both parties are motivated by the sale and want to quickly move on to the next deal.
- The Disillusioned
Disillusioned real estate agents have had a bit of a rough road. For one reason or another, the real estate business just hasn’t turned out the way they hoped it would. These agents have likely had their real estate license for a few years, but they’re not happy. However, regardless of whether the disillusioned agents got mixed up with the wrong brokerage or whatever else has held them back, they are not ready to give up.
These agents could likely benefit from a broker who will make them excited to work again. They need a strong mentor who can offer them training in areas where they need to bulk up their skills. Whether it’s partnering with someone who has fresh insights about the industry or someone who has learned lessons that follow a similar route to what a disillusioned agent has experienced in their own career, these agents benefit from someone who can help mentor them. Together, this partnership can develop strategies that do work from places where past efforts have been less rewarding.
- The Die Hards
This personality profile might sound a bit extreme, but I mean this term affectionately. Diehard real estate agents are very loyal to their broker and the success they’ve achieved through working the big legacy brands, like Coldwell Banker, or even big regional companies like Howard Hannah. While these are outstanding companies, diehards have become successful because they’ve followed the traditions and rules of these companies rather than forging their own paths. This isn’t a bad thing! It’s just a different way of doing business.
However, diehards may have a tougher time leaving their current broker because they don’t have a strong personal brand or identity outside of the work they’ve done for a legacy franchise. Their identity as real estate professionals has become intertwined with the franchise’s name, so it isn’t always easy to make a career shift. A lot of diehards don’t see any value in breaking up with their brokers because they’ve been in the business for a long time, they’ve been successful, and there’s more risk involved with doing something outside of their existing relationship.
- The New Professionals
New professionals tend to be people who value relationships over transactions, and that’s where a good broker relationship can be easily forged if your other goals are aligned. New professionals have gained insights about the value of relationships in this business, and so they’re genuinely looking to find a mentor to work with them to ensure they get a steady stream of referrals and listings. They understand that building strong relationships is the best way to not only obtain repeat business but also discover new opportunities.
Agents with this personality profile are excited about adding value year after year, they want to become better at their work, and they want to focus on more targeted needs, such as marketing. One key thing to learn about agents with this personality type is that they are always focused on their futures more than their pasts. The type of real estate broker who also has big dreams, goals, and ambitions could easily align with a new professional.
However, brokers who do enter into relationships with new professionals need to be focused on continuing to excite and motivate their agents through mentorship, training, and providing them with new opportunities or skills.
Why Choose The Realtor Lifestyle?
Part of the reason why people choose this business is because of the real estate agent lifestyle. Much of your business is conducted based on your own terms — and you essentially work for yourself. That’s part of why I got into real estate, after all. I knew I needed a lifestyle change that would allow me more flexibility and control over my own success. And if you feel this way, you’re certainly not alone. However, with some major lifestyle perks come other considerations that need to be made, which is where your real estate agent personality profile comes into play. How you work, how you think about business, and your own earning goals will likely dictate much of your overall realtor lifestyle.
For many real estate agents, the business becomes the core of their life — and other elements, such as health and family, suffer as a result of overworking. In particular, deal makers tend to work themselves to the bone because they’re so focused on their sales.
Instead of putting yourself in a position where you’re going to burn out or potentially damage other important aspects of your personal life, consider how finding the right brokerage can amplify the lifestyle benefits inherent to real estate work.
Part of why our referral-based model works at Roost is because it allows our agents to have a steady stream of work to do all year round, so they never have to fear potential scarcity. This makes it easier to plan family vacations, take time away to focus on other passions, or whatever else someone values in terms of upholding a proper work-life balance.
