Launching a Real Estate Business: It’s Not as Easy as ABC
The Real Estate Roadmap
- Contrary to popular belief, establishing a real estate business requires more than just understanding the jargon and legalities. It’s like expecting to win MasterChef just because you know every ingredient listed in the cookbook.
- According to Jimmy Burgess, a real estate expert, there’s more strategy involved in this property play. Numbers are friends but relying solely on them is a surefire way to turn your budding business into a property lemonade stand.
- A savvier launch into the world of real estate means diving deeper into the profit, loss, and risk analysis. We’re talking the guts of the business, not just its silicone-enhanced façade.
- Research is key. To navigate through the property wilderness, you need an epic source of market intel; not just echoing wife’s tales heard at a dinner party. A successful agent is the Sherlock to every property’s mystery.
- Fostering relationships and building a strong network is as critical as a bear is to the wilderness. Using the ostrich approach – sticking your head in the sand and hoping customers will land on your step – is a short cut to the world of business fantasy.
- Finally, complete market domination requires a blend of excellent timing, strategic buying and selling, and an iconic customer service experience. Combine that with the tenacity of a honey badger and bam! You’ve got yourself a real estate empire in the making.
The Takeaway
Real estate is a game that goes beyond property-selling. It’s a strategic cashflow circus, a relationship building hopscotch, and a relentless research marathon infused with a healthy dose of instinct.
Hot Take
When diving feet first into the real estate pool, don’t be the person who shows up to a Formula1 race with a pedal car, just because it has wheels. Take note from Mr Burgess, the property whisperer, and go beyond learning to speak ‘real-estate-ish’. Embrace the mind-numbing number-crunching, invest in relationships like they’re a hot property listing, and don’t forget to Sherlock your way through the property labyrinth. Transform from a property parakeet into a real estate eagle soaring high above the market madness.
And remember, in the real estate world, it’s not just about selling a house; it’s about selling the dream. So, do your homework, polish your strategy and immerse yourself in the market. Only then, you’ll be ready to serve up your empire of dreams, one property at a time.
Original article: https://www.inman.com/2024/02/08/11-things-i-wish-they-taught-agents-in-real-estate-school/
