2 ears and 1 mouth

Listening isn't just a polite social courtesy - it's a strategic tool that can mean the difference between mediocrity and extraordinary success.

Whether you're a business leader, a real estate agent or a property investor, your ability to listen effectively is fundamental to acquiring knowledge, building trust, and forging successful relationships.

Let's explore why listening is such a powerful asset in the real estate industry, and how you can develop this skill to elevate your career.

The importance of listening in real estate

1. Understanding the market

To succeed in real estate, you need to stay ahead of market trends. This requires more than just reading reports or attending seminars; it means actively listening to the needs, concerns and priorities of your clients, colleagues and industry experts.

By engaging in meaningful conversations and demonstrating an openness to learn, you gain insights that go beyond data - real, human perspectives that can shape how you approach deals and decisions.

For example, listening to feedback from potential buyers during open houses can paint a clearer picture of what today's market truly demands.

Are families in your area craving larger home offices? Is there an increased focus on energy-efficient properties? These insights can empower you to refine your strategies and stay competitive.

2. Building trust and relationships

Trust is the bedrock of real estate transactions, and listening is essential to creating it.

When working with clients - whether they're buying their first home or investing in commercial properties - they need to feel heard and understood. By actively listening, you're not just collecting information; you're showing empathy and care.

Consider this scenario. A property investor discusses their goals with a real estate professional. Instead of pushing their latest portfolio, the agent asks probing questions, listens intently to the investor's ambitions, and tailors their offerings accordingly.

The outcome? A client who feels valued, understood, and likely to return for future business.

3. Negotiating with precision

The ability to listen intently can make you an exceptional negotiator. Many people focus on presenting their arguments during negotiations, neglecting the vital cues and concerns expressed by the other party.

By listening more than you speak, you can uncover what truly motivates the other party, allowing you to craft win-win scenarios.

For instance, a seller may say they're seeking the highest price, but a discerning listener might pick up that a quick sale is actually their top priority. This understanding gives you an edge in structuring a deal that satisfies both parties.

How to practise active listening

Listening sounds simple in theory, yet mastering it requires focus, discipline and practice. Here are some actionable steps to refine your listening skills and apply them to your real estate practice.

1. Ask open-ended questions

Questions that invite detailed responses (e.g. "What are you looking for in your next property?") encourage clients to express themselves fully. This gives you valuable information while showing that you genuinely care about their needs and preferences.

2. Stay present

Put away distractions - no glancing at your phone or multitasking during conversations.

Give your clients and colleagues your full attention and listen with intent. This act of presence can significantly deepen your understanding and strengthen relationships.

3. Reflect and clarify

Demonstrate that you've understood by paraphrasing what the other person has said.

For example: "It sounds like location is the most important factor for you. Did I get that right?" This not only prevents misunderstandings, but also reassures the other person that their input is valued.

4. Pay attention to non-verbal cues

Communication isn't just words - it's also tone, facial expressions and body language. Sometimes what isn't being said is just as important as what is. Observing these cues can reveal underlying concerns or motivations.

5. Prioritise follow-up

Don't just listen and forget - act on the information you've gathered.

Whether it's recommending properties that align with a client's preferences or addressing concerns raised during a conversation, follow-through shows your commitment and builds trust.

Why listening is a competitive advantage

While the real estate landscape is crowded with skilled professionals, those who elevate their listening capabilities often find themselves one step ahead. The ability to deeply understand not just the market but also the people within it positions you as a trusted partner and adviser, rather than just another salesperson.

A real estate professional who listens is viewed as someone who values others' perspectives, drives meaningful outcomes, and fosters long-term relationships. This is particularly crucial in an industry that thrives on referrals and repeat business.

Turning listening into action

Listening is only the first step - what sets great real estate professionals apart is their ability to turn what they've heard into action. Here's how you can take the knowledge you've gained through effective listening and use it to elevate your success in real estate:

• Enhance client experiences: Tailor your services to your clients' unique needs, positioning yourself as an indispensable partner.
• Adapt your approach: Modify property recommendations, marketing strategies, or investment pitches based on the insights you've gathered.
• Build stronger networks: Active listening fosters connections not just with clients but also with colleagues, vendors and other stakeholders, creating a robust professional network.
• Identify opportunities: Uncover potential leads or trends in casual conversations that others might overlook.

A better listener, a better professional

Real estate is more than just transactions - it's about people. To serve people effectively, we need to listen to them. Zeno's timeless adage reminds us that we have two ears and one mouth for a reason.

By prioritising listening, you can gain insights, build trust and foster relationships that elevate not just your career, but the industry as a whole.

The power of listening in real estate success

Are you ready to enhance your listening skills and unlock new opportunities in your real estate career? Start today, and watch how the simple act of listening can lead to extraordinary success.

Adrian Knowles is the CEO of Harcourts Australia.