Elevating your real estate career takes dedication, perseverance and excellent technology.
- You are only responsible for your own performance
- Full commission
- More flexibility when it comes to advertising and marketing
- Create your processes and systems based on what works for you
- No quota or targets imposed by others
- Office and other expenses are shared
- Broader networking opportunity
- Sophisticated systems and tools shared amongst a team
- Risks spread to all members of the team
- Greater lead generation volume
- Advertising and marketing costs shared
- More focus on income-producing activities
- You are accountable for all your actions and decisions
- Lead sourcing depends solely on your efforts
- Systems and processes not as well established
- You have to handle all transactions
- Hiring an admin assistant will oblige you for payroll
- Achieving quota and deadlines
- Must work on different tasks assigned
- May lock you in a role and limit your capabilities
- Limited personalization
Intro Vid from Datz Solutions on Vimeo.
Research your target market
Location, specialization, and demographics are critical factors of your study. This one is often overlooked and many agents tend to take a shotgun approach and send out the same email blast or mail launch (are you guys still sending mailers?) to their entire market. This audience needs to be segmented and your offer should be personalized for each segment of that market.
Draft a Business Plan
Your business plan should include, your startup budget, mission, overall objective, sales approaches, income and expense forecasts, market report, and group management. Estimate realistic figures in your business plan especially when it comes to expenses, including office stationery and marketing tools. When you are clear with these basics, you can always use this as your map throughout.
Management
Aligned with your business plan, ask yourself what members or roles would balance well given your abilities. This attribute is another vital part of your business because these people can either make or break your team. Collaborating with a partner who has a lot of connections could bring in more volume. Of course, with this, you need to have someone to do the dirty jobs while your hands are full; this means that you need to hire an admin assistant at the least.
Partnership with other Agents
There are certain situations in your career that you may stumble upon a client which is not a fit given your background, instead of losing this prospect, you can refer them to your team or partner who might be more suitable. You may have a real estate investor knock on your door and you may be quick to claim that you are experienced in this sector but when they start speaking in investment jargon, will you be best equipped to service them? Having several members working with you gives you more depth and trying to be a specialist in every department.
Practice leadership skills
Being a leader doesn’t mean you are all-knowledgeable. It takes dedication, passion, and people-skills to become the best version of a team leader. The success of most teams highly depends on the direction and path with all members working in unison.
Utilize technology
92% of buyers use the internet and 50% of buyers use mobile apps in home searching. Whether you are going solo, in a partnership or a team, you must cultivate an online presence to reach out to clients even if it seems quite complicated. Technology is here to stay and will only keep advancing; you have to compete with the growing trends.