Is Your Business Built for Speed or Endurance?
Tammie provides a unique insight into the market from the prospective of an agent entering the business which quickly took a downturn. What is your value proposition, what sets you apart, what do you offer that other agents do not? For myself, I offer homestaging services for every one of my listings- this sets my listings apart and hopefully in the more desirable range. I also have a great hunger for education and keeping pace with the current market. For that reason, I have several distressed property, short sale and luxury short sale designations/certifications. I do my own negotiations and understand the process. Education is necessary before jumping into short sales and continuing education is priceless.
Tonight, I watched the movie Secretariat. I was a child when this story unfolded and while I knew Secretariat was the greatest horse that ever lived, I didn't know all the details surrounding his fame. For those who don't know, he won the Triple Crown in horse racing. No one ever thought he'd win the final race at Belmont because it was a distance race. Secretariat was fast but few thought he had the stamina to win the final race and take home the Triple Crown.
What does all this have to do with real estate? Is your business built for speed or endurance?
When I came into this business almost four years ago, my goal was to be in this business for the long haul. It was never my intention to come into the business, hit it hard, make a lot of money and then move on. It's a good thing--because the market turned and lots of people with that plan had to bow out of real estate. They came into the business thinking they'd make a quick buck and get out. Many got out but never made that quick buck.
I came into the business just as the market hit a downturn in Middle Tennessee. Therefore, my business plan was slow and steady. I wanted to make sure I would be able to endure for the long haul.
In the beginning, I wasn't sure how I was going to accomplish this. There were so many agents. How was I going to set myself apart? I began by working primarily with buyers. This gave me lots of opportunities to work with clients but kept my marketing dollars low. After I had a few sales and funds, I could afford to spend a little money on marketing. But where to invest that money?
I know of an agent who uses direct mail as her primary prospecting tool. She hates prospecting, as do I. She chose a high turnover neighborhood and started mailing recipe cards. It has really paid off for her. But it took about 18 months and $9,000 before she actually experienced one closing from her efforts. Franklly, I didn't have $9,000 to spend on recipe cards.
Instead, I invested by money in training. I took a few classes. Some paid-off while others didn't. I did get my Short Sales and Foreclosures Designation and Accredited Buyers Representation. But nothing seemed to help me find my unique value proposition--that thing that uniquely separates me from my competition. That is until a friend introduced me to Activerain.
Not only did I find my unique value proposition, I have begun to build a solid foundation. The knowledge I have gained through Activerain has prepared me to run the race for the long haul. I'm not ready to vie for the Triple Crown but I am developing systems to prepare me for a long, lucrative career.
So, is your business built for speed or endurance?
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Tammie White, Realtor® in Franklin TNCell Phone: (615)495-0752Serving the Franklin, Brentwood, Nolensville, Spring Hill, Thompsons Station, College Grove, Leipers Fork and greater Nashville area. All information is believed to be accurate but is not warranted.
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