There's an old adage about real estate, applicable to many professions - that it takes money to make money. But does this mean that real estate is a materialistic profession? Maybe the wrong question to ask I sit in the middle of the glitz of a Dallas skyline… nonetheless, it may be interesting to reflect on the resources at daily use of a Realtor, if you're thinking about joining the industry or maybe observing from an outsiders perspective.
The Car
As with many big city slickers, Dallas Realtors are notorious for their vehicle. And while I don't care to expose the finances of many professionals, it is obvious to see that many Agents spend thousands each year to ensure that they have a well-oiled, waxed whip beneath them to zip around town. Some agents put clients in their car and cheaufer around - some don't. But with meetings, previews, open houses and showings, it's no wonder an Agent expresses their fortune through their choice of a Lexus or Mercedes.
To me, as long as the car is in working order, not making terrible break or air conditioning noises and gets you from point A to point B, you're all good! However, it should be known that the potential for business is understood through what you drive and how that reflects your successes… meaning that a luxury home Buyer will likely have hesitance if you try and show them around town in your Honda Civic (I can say that, I used to own one).
The Tech
Technology plays a huge role in real estate. Laptops, phones and tablets all work to keep you engaged and in touch with consumers and professionals alike. They aren't just the perk of a tech age, they're necessary for keeping streamlined and efficient.
But with tech, I personally feel that it's all up to the user… you will get out what you put in. I've done just fine with the MacBook Air that I've had since 2010, no tablet in hand. And my phone's GPS guides me to appointments and showings without fail, eliminating the need for an in-dash system or fancy upgrade. Could I have them? Sure. But I'm fairly adapted to making the most with what I have by understanding my systems.
The Materials
There are so many, too many, marketing tactics and strategies to name. Sponsoring a little league or school event, hosting a neighborhood movie night, holiday-themed anything… YouTube videos, marketing flyers, door-to-door mailers. You name it! They all cost money to be done well.
For this, I would advise anyone in the business to really consider what they will need and what they want to gain from marketing. Give yourself a goal and objective, a method of attaining it and set a realistic checkpoint for results. I've spent quite a bit of money on one source of marketing this year, that I likely will not repeat next year. It's simply a matter of finding what works for you and your business, and innovating ways that you can make an impact others without dollars. Social media and content go great lengths.
The Meals
Agents, like other sales people, are likely to be found taking their clients out for a lunch or coffee at the local spot. It makes sense, really… breaking bread and pausing to discuss tactics. And subconsciously, a client may feel that the aura and vibe of the restaurant is a direct translation of the success that they seek to have with hiring that individual.
But all in all, it largely depends on your clientele. I've taken plenty of clients out to lunch, who expect a more methodical approach to business and making financial decisions. But most of my clients prefer to connect over something else and… frankly, have busy lives. It's about the gesture, not the meal.
So while there may be materialistic or superficial people in our lives, it's important to see just how humble and down-to-earth the real estate profession can be. All of these resources and tools are necessary evils… a means to furthering business. But I strongly believe that one should never change their appearance and lifestly, especially at the risk of an uncontrollable market, to try and fit the status quo of what it means to be an Agent. And I am a strong believe that results are determined by your input, entirely!
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