If you've got big goals for your real estate business, do these three 3 within your first 5 years to set yourself up for success.
If I had to attribute the success of my journey from agent, to top agent, to brokerage manager of one the largest real estate offices in Northern California to one thing, I could do so fairly easily. Of course, hard work, dedication, and focus all played a role, but the ability to scale and grow my business really comes down to mentorship.
This includes those who have mentored me throughout my career, yes, but I am referring more to just how critical creating a culture of mentorship has been to the success of our team and overall business.
Mentorship is one of the key pillars of my business philosophy, and it has been a leading factor in our growth across the Bay Area. Several real estate professionals who have started their careers with me have gone on to not only become top producers themselves but also lead different aspects of the business as it has grown.
Fostering that kind of leadership within your team can be game-changing; these people inherently understand and buy into your philosophy, values, and approach.
I could go on about how to build and lead healthy, successful teams, but as a real estate professional who has largely relied on mentorship to build my business, I’d like to share three best practices that every agent can and should do within their first five years in the business, to set out on their path to becoming a market leader.
1. Build a strong foundation
Lay a solid foundation for your real estate career by focusing on fundamental aspects of the business. This includes education and training to understand the industry, trends, contracts, negotiations, and ethical practices.
It also includes networking and building relationships with not just prospects, but fellow agents, brokers, lenders, attorneys, etc., by attending industry events, joining real estate associations, and engaging in your local community.
Local market knowledge is also critical. You must thoroughly understand factors such as property values, demographics, development projects, and current market conditions.
2. Focus on client satisfaction
Building a reputation for exceptional client service is crucial for long-term success. Happy and satisfied clients not only become repeat customers but also refer you to their friends, family, and colleagues. To achieve this, be sure to maintain open and transparent communication with clients.
Keep them informed throughout the buying or selling process, and promptly address any questions or concerns they may have. This also means being responsive to client inquiries and requests. Timely follow-up and prompt actions demonstrate professionalism and dedication, which in turn foster trust and loyalty.
Lastly, pay close attention to the needs and preferences of your clients, and understand their goals, requirements, and constraints so that you can provide personalized service and tailor your approach to meet their specific needs.
3. Embrace marketing and technology
In today’s digital age, effective marketing and technology adoption is essential for real estate agents aiming to become market leaders. Leverage the power of your brokerage’s marketing and technology to enhance your visibility, attract leads and differentiate yourself.
Establishing a strong online presence is table stakes today. This means a professional website and active social media profiles on which you can share valuable local content, property listings, and market updates to engage with potential clients. To uplevel, use digital marketing strategies, such as search engine optimization (SEO), pay-per-click (PPC) advertising, and email marketing campaigns to reach a wider audience and generate leads.
Take full advantage of the tech tools and automation capabilities provided by your brokerage, such as CRM software, virtual tour platforms, and transaction management systems, to streamline processes, automate repetitive tasks, and provide a seamless experience for clients.
Getting these fundamentals in place is a key part of our onboarding process, but any real estate professional who does these things has the power and potential to set their trajectory for market leadership. The basics aren’t boring. They are the difference between fleeting, short-lived wins and those who cultivate long-term success in the industry.
By Taso Tsakos
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