(read step zero first)

So, you want to step out on your own (or atleast you are considering the idea)

Let's get several steps done in one day (though it might take you months or years to do it in real life)

• Step 1 = Decide to do it
• Step 2 = Make a plan
• Step 3 = Define your unique selling proposition (usp)
• Step 4 = Create a Brand
  

Decide to do it

There's a long list of pros and cons to starting your own real estate operation.  At the top of the list of pros (for many) is the freedom to make your own decisions & knowing that no one is going to bug you about the quality of your document package for a given closing, etc.  The flip side is that you are now personally responsible for that package -- so it better be right at some point!

In addition, deciding to "just do it" is a long conversation with yourself (and others) about where you fit on the "risk taker" scale.  If you don't like risk, you won't like running any kind of small business.  Fortunately, most Realtors are entrepreneurs at heart, so this fits right in.

Deciding to do it can take a very long time, but in today's market, lots of people are looking at their options.

Make a Plan

When I first started Diamond Dwellings, I had a perfectly clear picture of exactly what I was going to do -- and I did it.

(Note: the above statement is actually a complete lie.  It's a fairy tale that I like to tell myself)

OK, I actually had no idea what I was going to do.  I just "jumped".  Now, that kind of base-jumping is not for the faint of heart.  All the great wisdom out there will tell you that it's much better with a plan from the start (kind of ironic that I'm saying that too!)

The point I'm trying to make with this section is that a plan is, in fact, required.  Some are content to just wing it.  Others need solid action plans.  Under the parent-like catagory of "do as I say and not as I do", i'd recommend having a great plan.  We've got a cool plan now that is proven with solid data and experience.

Define your unique selling proposition

What truly makes you stand out?  What is your business or your team about?  Why should I call you?

Many agents have never really solidified this in their personal business.  As a broker it's twice as difficult to do.

When you are starting your own brokerage, you actually need two of these -- one for customers & another for agents.

Customers want to know why they should hire your firm vs. Remax, KW or SallySmithLocalBrokerage or whatever.

Agents need good reasons to come and join your firm instead of the other options as well.

The answer must always be something along these lines: 

                              "We're better & more knowledgable about THIS very hyper-specific thing"

Nothing else will stand the test of time (and really crappy markets too)

Create a Brand

This is dangerous territory for me because I'm kind of a "brand snob".

I look at personal branding and brokerage branding and I just don't like most of what I see.

I'm not sure that most people appreciate how important this stuff is!  It's not really expensive.

It's not incredibly difficult.  It does cost some money & it does take some creativity.

You should ALWAYS pay for professional design unless you are a truly qualified professional designer.

In the end, you need a really good looking brand and then you need to do something with it.  but that's step 5)

Here's a couple of teasers about the Diamond Dwellings model that might spur some thoughts:

• What if you could do this without actually being the broker? (if you want to do it that way)
• What if you could get a proven plan at very low cost with the selling proposition built in?
• How about if you were in a master-mind relationship with 20 or 30 other "market leaders" nationally to share information?

Stay tuned for step 5 thru...