Monday, July 10, 2017
3 Secrets for a successful Real Estate consulting career
Real estate offers a lucrative opportunity for aspiring graduates. One can truly start a successful career in real estate, especially as a real estate consultant or Agent. Gone are the days when people bought and sold their properties through direct contact- today more than two thirds of transactions are done via brokers and agents.
With such huge opportunities, you might also face strong and difficult competition from experts in the field. That is why we bring you 3 secrets for a successful real estate consulting career.
1. Start Small: In the field of real estate, you will face direct competition from experienced and multimillion dollar firms. And for any beginner these companies may pose a serious threat to you and your career. That is why it is extremely important to make your own brand in the market and gain trust among other competitors.
It is always a good idea to know your competition first and maintain a good relationship with them. Don’t try to outsmart or out-budget them, rather make a reputation and quality that customers will be attracted to you.
For fist 2 or 3 years, you need to start small- you need to think small. Do not rush into big, popular projects, rather focus on smaller projects that these big companies are not willing to take.
2. Marketing Marketing and Marketing: When it comes to real estates, marketing can be the deciding factor between your success and failure. With rise of Internet, Smartphones and Latest technologies marketing techniques are constantly evolving and it is extremely important to keep up with the latest marketing techniques.
Where as old players or big corporations might rely on their reputation and contacts for more leads, you can truly exploit the power of internet and marketing to find hundreds of potential leads. Granted that you might have to take unconventional forms of marketing such as video and app marketing but in the long run it will definitely pay off.
Look for a small, targeted audience and use whatever medium necessary to market to them. Make your company a brand, a brand that people trust and has good reputation in the field.
3. Never Overestimate: This is probably the number one mistake real estate consultants make. They underestimate the costs and overestimate the profits. Let’s face the truth, you will not become a successful millionaire overnight, no no – real estates is never about short term success, rather long term relations and extreme work. And real estates also demands a significant amount of budget and planning as well.
Make sure you decide your budget and stick to it. And your budget should not only business expenses but also personal expenses and cost of living as well. Take good amount of time and device a great business plan. And try to put it in action as much as you can. Observe and study the business plan of already successful real estate consulting firms and try to replicate it.
What is your secret to success? Do let us know in the comments section down below.
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