Keys to Success in Your New Business

By
Real Estate Agent with Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities #1 in Forest Land Mgmt
https://activerain.com/droplet/4KCL

Keys to Success in Your New Business

My friend Patricia Kennedy  suggested that we share a few tips for new business owners this month.

I could go on for days or weeks on this topic but since my time for writing this is limited and I am sure your time available for reading it is limited as well, I will just share a few tips.

You are going to hear a lot of advice now that you are in this business.

Some of it will be good, some great, and some by people who have been screwing up for years and should really not be sharing any advice.

Mentors

Unfortunately that guy or gal that your broker assigns to “show you the ropes” was given that task for the wrong reasons, and you really need to know why.

They were given this task because they were the only person sitting around the office, while all the successful agents were out selling real estate.

Be polite to this person and try to learn why they are not doing so well, and then spend a bit of time trying to find out what those agents who are not sitting around the office are doing.

Spy on the Successful Agents!

Read their marketing materials, watch what they do, and work hard at incorporating all of these things into your business.

You may even want to ask one of these agents as they fly by if you can help them out a bit, you will learn a bit from being around them and they will probably agree to allow you to hang around just as long as you do not slow them down.

Education and Development

Your state will require you to take a few classes before and along the way in exchange for the privilege of saying that you are an agent.

But don’t believe them, these classes will not make you an agent, and anyone who says they will is just fooling themselves and you.

These classes are fine if you are striving to be a clerk who handles the paperwork for a very basic transaction, but they will leave you sorely under educated for someone who is planning to run a business and perform a service like SELLING REAL ESTATE.

School is not over and if you are serious about being in business you will need to adjust to the fact that school will never be over, if is a continual process that your business and your clients require you to take seriously.

A few of the key things that you will need to learn to excel at include;

  1. Marketing yourself and your properties
  2. Sales, both of your services and your client’s properties.
  3. Running a business, making a profit is an essential that many never learn.
  4. Time and project management, learn what needs to get done, when and how.
  5. And so much more that will take you years and serious effort to learn.

Some of this education can be gained via advanced degrees, some in workshops, some seminars, some in blogs, some in books, some in webinars, and some by talking to the winners in your industry.

But the key thing to remember; never be content, always be learning and growing.  Your clients will require this.

And if you do not do these things then you will have to be content with working for friends and relatives who are too polite (and foolish) to say no.

 

PS, one bonus tip.

Get used to the fact that this is not a 9-5 job, it is an all-consuming vocation.

Always be working and learning to be better.

It does not hurt to get your family involved in this obsession too. Finding a place on the business team for family members will not only lighten the load but will keep them from distracting you by asking you to have a personal life outside of the business.

 

Enjoy your new life, it can be a very rewarding adventure, and your life will never be the same again!

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Rainer
12,677
Louise Dela Cruz
RE/MAX Gold Realty Sacramento - Sacramento, CA
SRES, SFR

Bob, that's right. This is definitely not a 9-5 job! Or one with weekends off

Oct 29, 2015 06:09 AM #1
Rainer
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Louise Dela Cruz
RE/MAX Gold Realty Sacramento - Sacramento, CA
SRES, SFR

But it's worth it!

Oct 29, 2015 06:10 AM #2
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Bob this very good advice for those starting out in this business, and the bonus tip is spot on.

Oct 29, 2015 06:18 AM #3
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Anna Banana Kruchten CRB, CRS 602-380-4886
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Bob it's a never ending journey of learning new stuff and shifting with the times. You've offered lots of great tips for newbies.

Oct 29, 2015 06:19 AM #4
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

In our office, mentors are chosen carefully and not just thrown at agents because they are there.  But as an industry, that is a problem.  

Oct 29, 2015 06:38 AM #5
Rainmaker
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Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Bob Crane ....it's definitely a 7 day a week job ....at least 10-14 hours a day to be successful and do a really good job. This is a great post!

Have a great night!

Oct 29, 2015 07:40 AM #6
Rainmaker
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David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Ahh yeah! This is a great post Bob. I like your style and your advice is accurate for being courteous but knowing the go getters are out getting so thats where focus should be. The whole post is filled with quality content!

MUST READ!

Oct 29, 2015 07:45 AM #7
Rainmaker
536,538
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Good tips.  Education one of my soap box items.  Must have it and continue with it.  One of our office top producers talks of how he works scripts with his kids.  While stand offish at first I guess they are really into trying to stump him now.  What a great way to involve the family while yourself improving.  Good Post Bob.  Mark

Oct 29, 2015 08:27 AM #8
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Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Great advice, and I love your bonus tip.....very important!

Oct 29, 2015 10:32 AM #9
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Are you sure you aren't a real estate agent?  That advice was very close to this side of real estate...

Oct 29, 2015 11:30 AM #10
Rainer
426,644
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the tips here, Bob.  You have such a great way of stating things.

Oct 29, 2015 03:59 PM #11
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Bob loved the bonus TIP:)) indeed it is not a 9-5, Endre

Oct 29, 2015 04:11 PM #12
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Bob, great tips.  A new business is not a cake walk.  It is hard work with long hours

Oct 30, 2015 07:01 AM #13
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

This is a self employed position. The rewards can be high. Some after many years of experience still have not grasped what to do.... Many are just too lazy to hang around hoping someone will approach them.

Stay busy in a productive way,

Sam Shueh

Oct 30, 2015 10:05 AM #14
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello from Vegas Bob/Alaska Bob and I hope you have a Fun, Safe Happy Halloween ;o)

Oct 31, 2015 03:11 AM #15
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
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Bob- love the bonus tip!!!!

Oct 31, 2015 01:22 PM #16
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