I have been involved in the real estate career for las five years.
I have seen good markets and as recently some down turns.
Real Estate is a very competitive market dominated by few core people; in order to compete I decided to focus my time, money and energy to target spanish speakers.
Here's a few observation I made:
With regards to professionals they tend to start with no true business plan and short change themselves and their clients. I tend to believe that if they continually invest in learning their business they will stay long enough to make mistakes and learn form them that will alone equip them with knowledge and tools that will make them dominate. The few that makes it, they really prosper.
With regards to clients:
It takes dedication of time (mostly) to continually follow up with them. Once they're on board and satisfied they will be a client for life and will refer their network to you. I find that whether you give clients referral fee or not they will still refer you to their family members and friends.
Close to 15% of my business is from Spanish referrals, I am working to make this higher...