I started my own Real Estate company WKRP Indy Real Estate after 8 months of fumbling through a mess of literature and silly false leads at a national brokerage. I could have saved a lot of time, frustration and made a little quicker money had I known not to make these simple mistakes. One of the keys to not making the mistakes is watching what is not working for the other people in your industry and then don’t ever do those. Here are 3 of my top mistakes I would avoid if I was starting all over again
1. Going to an office-There are only 2 reasons I should have gone to the office when I started selling Real Estate: To drop off the commission check and to pick up my commission check. All the other time I was there I was not out making new connections. The only way to make a living selling homes is meeting and spending time with People.
2. Buying Business-Rarely do you see top performers talking about gaining new business from advertisements or lead generation services. They are out talking to people about their current homes and future plans. Spending money to create new business through ads and online services is a complete waste of money and time if you are not going to specialize in that, and I am not sure a Residential Realtor could actually succeed with Online and Unknown as their niche. Don’t spend money where a little work could get you better results
3. Stale Open Houses-Open Houses are boring, ineffective, depressing, lonely and really frustrating. But, thats just because we don’t do them right. If I was doing Open Houses on a regular basis I would partner with a couple of different entertainers to make them a fun event. Whether it was a hot local Chef to prepare snacks or a guitarist that can draw a local crowd. I would make the Open House the event and the house for sale the stage. People want to enjoy the place they are living and letting them experience that before they buy would be a huge hit. Done well this would be a cool Sunday afternoon Happy Hour or place to be seen.
+1. Blogging-Had I known the importance and value of blogging and posting early on, I think I would have focused much more time on it. The ability for a Realtor to swiftly offer expert advice and engagement through a regular blog can not be duplicated. I think any new Realtor should take the time to blog on a regular basis and use that to create a following and mail list to use for years to come.
Making mistakes is key to starting your own business because you don’t have someone there to guide you step by step. But learning from others is where the Top Producers separate themselves. Take on a mentor and learn from others but don’t be afraid to try something that is not being done or has never been applied to Real Estate to build your business. Good luck!