In all my years as a real estate professional, I have never once heard anyone talk about the agent's role as project manager.
There are endless books and classes on perfecting sales skills, which is the art of getting clients, but there's zero talk about the importance of mastering project management, which is the science of serving clients.
Consumers have more and more information available to them thanks to the internet, and as a result, the role of the agent has shifted from being the consumer's only source of property information to being the consumer's best chance at successfully getting from the home search to the closing table.
Managing the transaction has always been a very large and critical piece to the agent's role, but I would argue that it's often overlooked and undervalued, and doing it well has become more and more difficult.
Just like other project manager roles, acting as project manager in real estate requires careful planning, organization, team collaboration, clear communication, creativity, and problem solving. I don't think this aspect of the real estate agent's job gets enough recognition by the industry, or the consumer.
New challenges that have emerged for agents in these last few years include planning for and interpreting volatile market conditions, working with inexperienced agents (is there anyone left who DOESN'T have a real estate license?), creating affordability for buyers, implementing countless marketing techniques, identifying qualified contractors, and more. It's not just about finding a house, or putting a sign in the yard. Not that it ever was.
One specific scenario that absolutely requires a skilled project manager in real estate is closing two properties for a client's buy and sell on the same day. These types of deals used to be fairly commonplace. It took some planning, but because of market conditions and professionalism in the industry, the average agent could usually do it without too much difficulty.
But current market conditions and lack of agent experience has made this feat much more challenging. Many agents won't even try it. There are just too many variables to consider and things that could go wrong. It requires an organized, experienced, savvy project manager, and most agents do not have this skill. Consumers lose opportunities because of it, and that costs them time and money.
Agents who lack project management skills cost their clients opportunities, and that causes consumers to devalue real estate professionals in general.
I'm in the process of earning a project management certificate through Google, mainly because I wanted to know how to relate my skills in real estate sales to the corporate world.
It's been very eye-opening to see how I've managed to figure out best practices for project management through trial and error over the years. Taking this course as a new agent definitely would have given me a better framework for helping clients early in my career.
As the real estate industry continues to evolve, I think agents should focus on developing better project management skills. These skills directly benefit the consumer, and that will elevate the industry.
Have you ever considered the role of a real estate agent as project manager before? Are you looking for an agent who understands the critical component of project management in your real estate journey? Let's talk. Text me at 843-870-0890, or schedule a call with me here.