Real Estate and You – What’s the Path to Success? Part 2

Part 2 – Business Decisions

You’ve spent time getting to know your neighborhoods and the market, you are attending training classes and you are telling your sphere that you are now a bona fide Realtor. Once you made it to this point, you have to make some serious decisions.

What kind of business model do you want to implement? Are you going to be a ‘single’ Realtor (work by yourself), work with a Team or form a Team in the Future?  Is your business going to rely on new clients, referrals or clients from the Internet? Obviously, you can change your mind in the future – but for now, you need a starting point. Once you decide – consider your style. Are you a “people person”, tech-savy, a combination of both? And if you’re not “into” the Internet – will you have someone help you with that aspect of your business? (Considering that over 86% of home buyers start their search on the Net – you can’t really afford to ignore that section of potential clients.)

Speaking of Clients:  Who are your potential clients? If you just said “Everyone who wants to buy or sell”…you’re not alone. That’s the most common answer. However – can you really be everything to everyone? What will you be known for? What will make you different from all the other agents out there?

Consider who your “dream client” would be! A first time Home Buyer? Someone moving up or down? Investors? People interested in new build homes? Someone wanting to live on the Golf Course? In addition – do you have a preference for the type of home you’d like to help people sell or buy? Mountain Views? Acreage? Downtown? Rural? Ranch? Historic? If you can answer all those questions, a picture of your “Dream Client” will emerge. Concentrate on “talking” to this client, via blogging, website, marketing etc.! This does not mean you should ignore other business that comes your way…it just means you have to have a niche/specialty.

With all these decisions to make, your ongoing training and the talking to your sphere – you have to figure out a way to keep information in order. You need a contact management program. This can be Outlook, you can use Excel or you can use a specific management program like ACT or Topproducer.   So now, additional Homework is due! Add all those people you know into your contact data base – whatever system you decide to use. Names, Addresses, e-mails, phone numbers, children, hobbies, pets, Birthdays, Anniversaries – anything you know.

Part 3 will be discussing your Internet Presence

 Part 1 – Use your Resources