7 Essential Steps for Starting Your Real Estate Business

Real Estate Technology with IXACT Contact Real Estate CRM

New to the real estate industry? This career path holds many opportunities and challenges for  you. While your first year in real estate can be the hardest, it’s also your chance to establish sound business practices for long-term profitability.

Here are 7 essential steps for starting your real estate business!

1Treat your business like a business!

Establish regular business hours. Keep excellent records. Return all calls and emails promptly. Being your own boss means being completely accountable for your own success or failure.

2Join a successful team.

Find seasoned mentors who are willing to share their knowledge and experience.

3Announce your new career to everyone in your sphere of influence

Family, friends, neighbors, classmates, church members, and any local business owners you know. Don’t be shy!

4Build a professional network

Agents, mortgage lenders, insurance agents, movers, contractors, home builders, ect. Introduce yourself to other professionals who are connected with the real estate industry. Collect business cards and distribute yours freely.

5Take advantage of low-cost marketing services

Managing your contacts efficiently is incredibly important in the early days of your career, because as you get busier you’ll want to have a good system in place. A good real estate CRM can make the difference between you having an “ok” year, or an excellent year. IXACT Contact offers a robust real estate CRM to new agents, absolutely free for the first six months!

6Build and maintain good relationships with every potential client!

It’s key for generating leads. Read IXACT Contact’s prior blog, “Top Tips for New Real Estate Professionals” for examples!

7Be careful with your money

It takes time for any new business to become profitable; it could be months between your commissions. When you have a closing, be sure to set money aside for your income tax obligations. Use cost-effective marketing tools and services to grow your business, while keeping relationships at the forefront.

Real estate sales is a flexible, rewarding career with unlimited earning potential. It’s also a challenging career that requires hard work, good business habits and excellent marketing tools! IXACT Contact’s Rookie REALTOR® Program provides lead capture, contact database management, and email marketing systems completely free for six months. Start your real estate career with the advantage of IXACT Contact!

Carrie Gable & the Real Estate Virtual Assistant team at RealSupport, Inc. work virtually for many top real estate agents & brokers nationwide, offering marketing campaigns, branding, website & logo design, listing marketing efforts, lead management, technical support, marketing presentations, social media setup & management, copywriting, blogging and much more.

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IXACT Contact helps you build lasting relationships with past clients, hot prospects, and important referral sources.  The system makes it easy to keep in touch with clients the right way and to generate high quality new leads.  It also helps you manage the transaction side of your business, keeping you organized and in control.

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Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

My advice to any newbie is not to pay for any marketing system when you can do it yourself or learn about it here on the rain.

Jan 05, 2015 08:01 PM #1
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

I would add one more item ~ Join and be active on the Active Rain Blog and your local community.

Jan 05, 2015 10:27 PM #2
Kevin S. McCullough
McCullough & Associates Realty, Inc. - Trinity, FL

Announcing your new career to all of your old contacts is cruicial and often times can spark a deal - people that know, like, and trust YOU are the best referral sources and usually are a lot cheaper than other marketing methods. 

Jan 05, 2015 10:48 PM #3
Rich Gaasenbeek
IXACT Contact Real Estate CRM - Toronto, ON
Real Estate CRM & Marketing Made Easy!

Thanks for your comments, Russ and David. Active Rain is certainly a valuable resource for real estate professionals! 

Jan 05, 2015 10:48 PM #4
Rich Gaasenbeek
IXACT Contact Real Estate CRM - Toronto, ON
Real Estate CRM & Marketing Made Easy!

So true, Kevin. An annoucement goes a long way! It's important to actively reach out to contacts and keep in touch with them regularly.

Jan 05, 2015 10:50 PM #5
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Real Estate CRM & Marketing Made Easy!
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