We've gotten through 5 of the 10 Ways to Blow Up Your Real Estate Business when you're just getting started. On this second half (part Deux) I'm going to focus on some specific things that will make you a successful, professional Realtor that will make it through every twist and turn the market can throw at you. Let's get started...<!--more-->
6. Brand Everything
Lots of people argue about 'the brand' in real estate. Let me put it to you straight. If you are a career agent (and you should be) you ARE THE BRAND. Keep that in mind when you...
- Pick a niche
- Purchase your domain name
- Buy business cards
- Buy image reinforcing products
- Wrap your car
- Get a tattoo
You, not your company, are the brand. You are the person that lists and sells property. You're company can be co-branded with you but real estate companies come and go. Companies sometimes even re-brand themselves. Create a plan of action when you start out and you'll be ahead of at least 95% of Realtors.
7. Find a Niche, create a niche, niche, niche, niche
Real estate agents cannot be all things to all people. The most famous Realtors, Attorneys, Doctors, Politicians, Actors, name a trade... all specialize in what they do within their industry. You must do the same. You'll never be anything more than Joe Schmoe Realtor unless people know you for something specific. I'll name a few niches to get you started thinking:
- First-Time Home Buyers
- Specific Geographic Areas
- Luxury Homes
- Bank-Owned Properties
- Beach Properties
- Downtown Lofts
- Turkey Farms
- Strip Malls
- and the list goes on.
Seriously. Pick a niche, fall into one, whatever. But if you are just letting the wind blow whatever business is out their your direction, you're in for a mediocre, and short-lived career in real estate.
8. List to Exist
Fact: The average buyer takes up 32 hours of time between the first meeting and closing. Fact: The average seller takes up only 8 hours of your time between first meeting and closing. Before you say something smarty pants, I understand that there are exceptions to every rule but for the most part, these two facts are pretty rock solid. This means that you're wasting your time with buyers unless you are selling homes worth 4 times the price of homes you are listing. Most people aren't doing that so consider being a listing agent first and foremost... your pocket book and your family will thank you.
9. Take Good Photos or have someone else do it
The very first think people look at when they see a listing online fir the first time is the photo(s). In fact, and I don't have a study to confirm this, but I know that good photos are the number one component in properly marketing a property. Bad photos, bad marketing. Good photos will give you the foundation you need to make a great first impression. Consider this... Point and click cameras just don't cut it... you need a DSLR with 14mm-18mm wide angle lense and a commercial grade speedlight. If you don't want to buy, borrow, or rent one of these then let someone else do it. Listing photos go for as little as $50 from professional photographers. It's the best $50 bucks you'll spend on a listing. Honestly.
10. Get into Video
Number 5 was about using and leveraging technology. It had a bit about web presence but there's so much about it on this site that I'm not going to include that as a point, even though it should be. Creative use and leveraging of video in your business is going to be crucial going into the next decade as more and more people use online video to find out more information about everything. Youtube is now the number 2 search engine in the world... are you on it? Are your listings? Obviously, they should be. We'll talk a lot about video in our technology category of the site. Don't wait, get started. Start looking at other Realtor's use of video and come up with a game plan. Check out Vincent Arcuri's domination with his use of quality video production. I hope you enjoyed my list of 10 Ways to Blow up Your Real Estate Business. If you're wondering how to implement any of these systems, strategies, or ideas but you just don't know where to start. Contact us. We'll be glad to help you get the ball rolling. It would also be a smart investment to become a member of The Exit Pro or at the least, Subscribe to our Updates.