How To Have A Successful Real Estate Business

By
Mortgage and Lending with Olympus Labs

The Baby Boomers were the last generation in America to have a fairly settled down existence, often living for 30 years or longer in the same house or apartment. Every generation since then has become increasingly mobile, until today it is estimated that the average 20-year-old will move residences almost a dozen times before he or she reaches retirement age.

That’s because the new economic reality for most younger Americans, according to statistics on The Glimpse, is that staying in one place at one job for too long is not a viable way to make the most of a career; each career move up the ladder, usually means a physical move to a new city/county/state.

What that means for the real estate business should be obvious: The time has never been better to obtain a real estate license and dive in to take advantage of this likely long-lasting phenomena.

Of course, not everyone is cut out for success in the real estate game. It takes a certain amount of confidence and concentration, plus a real desire to meet people and serve them, to make a great real estate agent. But the benefits of success in the real estate industry are real, and pretty darn amazing! There’s the money, of course, earned on commission.

Most successful real estate agents have a team of associates working under them, bringing them even more money and allowing them to escape the nine to five grind for vacations, conventions, more vacations, and even public service. And let’s face it -- becoming a real estate agent is not like becoming a heart surgeon, requiring years and years of grueling study and interning. Once the license is acquired, the wardrobe is updated, and the car has an oil change, anyone can begin making a good life with their own real estate business.

Have a business plan

Yes, it really is that simple. But along the way the smart real estate businesspeople learn the importance of having a firm business plan in place prior to starting their own real estate company. A business plan is nothing more or less than a map that indicates present location and indicates where the good life is located, with a single specific pathway to it -- all in writing. How to start. How to proceed. How to conserve energy along the way. And how to approach success cautiously so it doesn’t stampede.

Hire the best

The savvy real estate business person will start hiring good people right away -- and won’t be afraid of the price tag. Filling any business with mediocre performers because the price is right is downright foolish. Rather than having a dozen ineffective sales people running around like chickens with their heads cut off, pay a good commission to just a few proven super stars and sit back to collect your cut of commissions.

Don’t neglect social media

Set aside at least two hours each day while the business is building for social media; to set up Facebook, Instagram, and Twitter accounts, at the very least, and to design and implement a killer landing page that will turn clicks into clients. When everything is up and running, a consultant or in-house media person can be hired to take over. But don’t make the mistake of initially allowing strangers to set up your company’s social media -- they’ll never get the personal touch just right.

 

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David Jackson, MBA

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