Many people are drawn to a career in real estate because of the promise of making millions. Although it’s totally possible to make as much money as you desire, it does not happen automatically. I am going to give you 7 tips on hitting $100,000 in your first year in real estate, but there is no magic bullet. This is not a get rich quick scheme, and be leery of anyone who promises you one.
Real estate is a relationship based business, so all of these tips focus first on the people. Look for the common thread as you read through and keep this guiding principle in mind as you build your business.
When you are led by something greater than money, the money will follow.
1. Shift your Mindset – mindset is the key to all success in business and in life. Everything you do- all of your success or failure depends first on what you believe to be true. If you begin your business with the fear of failure, or doubt that you can achieve, these nagging negative beliefs will hold you back and sabotage your success before you even have a chance to begin.
There are many ways to create a positive mindset such as affirmations, meditation and gratitude. Start exploring the world of mindset and watch your entire life and circumstance improve.
2. Develop a Solid Business Plan Let’s get down to business! Creating a rock-solid business plan is the key to your success. Start by defining your financial goals, target market, and strategies for lead generation and client acquisition. Figure out what makes you stand out and highlight those strengths in your marketing plan. Remember, it’s essential to review and adjust your plan as you gain insights and experience in the field.
This can be a tough task as a newbie since you don’t have the
experience to even understand your target market or your goals
Get some help in figuring this out. You can lean on your Broker or sales manager for training and tools to figure out your business plan, or check out THIS post.
3. Build a Robust Network I can’t stand the term networking. Rather, I refer to it as connecting. Connect with fellow agents, Mortgage Brokers, home inspectors, and other professionals in the industry. Attend those industry events, join local real estate associations, and take advantage of social media to expand your connections. Nurture these relationships by providing value, staying in touch, and showcasing your expertise.
Not only is this important to keep your head in the game and attract business, it is a value add to your clients. Part of our value as agents is connecting our clients to the rest of the community. Think outside the limits of real estate and create a web of preferred vendors from florists to piano teachers. Become the go-to person for all things in your town. Give people a reason to keep reaching back out to connect with you. It is a free and fun way to stay top of mind with your clients and customers.
Leverage Online Presence: We’re living in the digital age, so let’s make the most of it! Establishing a strong online presence is a must. Create a professional website and optimize it for search engines. Keep it fresh with engaging content like blog posts, market reports, and neighborhood guides. Engage with your audience on social media platforms by sharing informative and interesting tidbits. And don’t forget to tap into online advertising to reach potential clients in your area.
Creating a social media strategy can be more than a full time job, so make sure you do not let it overwhelm you. Unless you have a huge budget and a marketing team, it’s not possible to do all the things.
Pick one thing that feels genuine and easy and stick with it. For me, it’s going live. I simply turn on the camera and talk and it feels simple. If I have to batch and create reels or highly edited videos, I freeze and resist. Going live works for me, so that is what I focus on. I shut out the noise that tells me I should also be doing 100 other things. Find what works for you and ignore all the “experts”. The people who are meant to find you will find you, but they can’t if you are trying to be something you’re not.
Plant Seeds Everyday Some people refer to this as lead generation, I call it planting seeds. This can start out as simply as calling 5 people a day from your sphere and aiming to add 5 names to your sphere daily. Some other ways to make connections are to volunteer, join a club or group, sit open houses and host in person or virtual info sessions and events.
The possibilities are endless, but keep in mind that just like social media, you can’t do all the things, and consistency is key.
Choose the thing
Do the thing.
Focus on Client Relationships Clients are the heart and soul of your business. Treat them like gold! Listen attentively to their needs, respond promptly, and go above and beyond to exceed their expectations. Deliver personalized service and maintain open lines of communication throughout their buying or selling journey. By building trust and loyalty, you’ll earn valuable referrals that can significantly boost your income.
Remember that sales is service and your role is to solve problems for your clients. This means that the relationship does not end at the closing table. Be sure to set up a system for keeping in contact with past clients to continue the relationship and keep adding value to this person’s life.
Always be Learning Dedicate time every week to learning, whether it’s systems, marketing or contracts. The more you know, the more you grow. Not sure where to begin? Be curious. Read every document, watch the help videos on software you use, ask agents in your office, join agent Facebook groups.
Ask your broker or sales manager. Read my other blog posts. Join my Facebook group for agents. Read business and mindset books.
Once you begin to walk the path of knowledge, you will gain momentum and begin to see endless opportunities for growth and expansion.
Choosing a career in real estate is choosing to wake up every day unemployed. With that risk comes the opportunity for endless reward. In order to succeed and earn that 6 figure income the first year, set your mind on that $100,000 income and create a plan to get there.
Set your mindset to accept nothing less, know that you are deserving and capable. If other people can make $100,000 in their first year in real estate, so can you.
You are unstoppable. You can be, do or have anything you desire. If real estate is part of your plan, JBREA was created for you.
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