"The 5 Keys to a Profitable Real Estate Business. What (almost) Nobody Tells You"

Do you have an Entrepreneurial Spirit? You need it to be an Entrepreneur.

An entrepreneur doesn’t create a company just to make money, he needs to have a challenge and win that challenge.

Creating a real estate business is highly profitable and is available to anyone who has the qualities that an entrepreneur needs. Like everything in life, success in this business depends on the small details.

Setting up a real estate business is not exactly creating a real estate. Let’s talk properly. A real estate or real estate office entails a premise at street level and an infrastructure with several commercial and non-commercial personnel.

A real estate business can be created as a professional service and developed from your own home. What you need is to have a good internet connection, a good computer, a telephone, a well-furnished head and implement the 5 keys that I am going to explain next.

But first a piece of information so that you realize that you are not alone. For your information, at least 40% of the people who work in the real estate sector in any country do so independently, as independent professionals or simply as a temporary occupation.

Understand this occupation as a temporary job that generally lasts from 6 months to 2 years. They all work from home or from a small office or co-working space.

I cannot provide statistical studies to support the above statement. I rely on my knowledge of the market, the studies provided by real estate associations in various countries and the type of clients that are advertised in some real estate portals and classifieds, (of these I have some very good figures).

What’s more, if you have worked in this sector for several years you will know that 40% is quite close to the reality of the real estate market.

So is. This 40% represents, in countries, more than 30,000 people who work as independent real estate agents; in Colombia they may represent about 24,000 people; in Peru about 16,000 people; in Argentina about 19,000 people, (here you must bear in mind that if you are not a certified auctioneer, you cannot even sell the doghouse) and in Mexico … well in a country like Mexico, the figure is quite large. This 40% represents more than 95,000 people on the low side.

As you can see, the competition that a person who wants to start a real estate business will encounter is quite strong, but at the same time a chaotic competition and with little training. That is why at the beginning I commented that creating a real estate business like blue world city Islamabad is highly profitable.

“That there is a lot of competition in this sector in any country is not the problem for the real estate agent who wants to become independent or the person who wants to enter this sector.

The real problem is that in this market, in almost any city there are real estate agents and agencies that work very well and that are generally the ones that sell the most, come sun, cold or shine”.

Competing with these professionals is more difficult than competing with poorly trained real estate agents.

If you want to capture and sell the best properties, you have to compete with good professionals. However, to avoid giving up at 6 months 1 year having wasted time and money, you have to compete with non-professionals, life-seekers, smoke-sellers, the poor in spirit and scoundrels.

Unless you differentiate yourself and focus your real estate business in the right direction from the beginning, starting a real estate business is going to cost you dear, not money, but in your work, social and personal life.

Start a Real Estate Business. The Toll to Pay.

But hey! Cheer up, because in real estate you can make so much money that it comes out of your ears. You have university studies or have been a miner. It does not matter. What matters is that you have an entrepreneurial spirit and pay the toll of what it takes to be successful in this sector. This toll is 80% contained in these 5 keys.

While some will tell you that the key to success in this business lies in other factors, I tell you from experience and knowledge that these are the top 5 and the rest are just bubbles. That’s how clear I have it.

So, let’s forget about the administrative and legal steps to set up a real estate business and leave the topic of time management, people management or how to maintain personal motivation for another article. Let’s focus on the “chorizo” and forget about the bread.

They need a Plan.

Imagine that you are Russian, and you are in the Navy. Well, in the Russian Navy even to go to the bathroom they have a plan.

This is how you have to approach your business from the beginning. What do you want to achieve with your real estate business? How are you going to get what you want to get? Do you know how to set goals?

Having a well-structured and realistic plan is the 1st key and the most important key to be successful with a real estate business like Tajarat properties. I know that everyone is not capable of making a plan under these conditions and that it is best to find someone, (even pay that someone), to help you prepare a plan.

If this is your situation, seek professional help. This will be your 1st investment in this business. An investment that you will pay off very well.

The vast majority of real estate agents work without a plan and that’s how it goes. Others, the minority, work with a medium-term plan and a weekly and daily schedule that gives them direction in everything they should do daily, how to do it and why they should do it at that time.

They are not in the Russian Navy, but almost. Having such a plan gives you focus and motivation. It gives you confidence in yourself and they will be much more productive, because fewer doubts assail you along the way and you will react earlier and better to adverse situations with determination.

What should this plan contain? Huff! It would take me all this article to define exactly what should go into this plan and how to prepare it: market studies of the area, costs, income, budget, purchase protocol, choice of business model, acquisition and sale strategy, necessary training, prepare the tools, (web, blog, contracts …).

All this exercise requires a lot of coffee, a lot of writing, a lot of research, stop being nonsense, be honest with yourself, not think about little birds, read reality, do introspection, study the market, … and have someone by your side who knows about these issues and give you a second professional opinion.

Come on, let him help you create a document that is realistic, can be put into practice, is flexible, and becomes your Bible for the next 12 months. And of course, that it tells you how to earn money.

To succeed with a business, you need a plan like water in the desert. Do not fool yourself; They need a well-structured, written plan and spend time, weeks if necessary, to create this plan. No plan, my friend, my friend, there is no paradise.

I have to say with pride that, of all the students that I have advised or helped, those who today are selling between 1-2 properties every month, (and some months up to 3 properties) , are the ones who initially prepared a good plan by spending a lot of time on it.

The Real Estate Business is Online We are in the XXI Century, by God!

I have no doubt that printing brochures to drop off at every house in the neighborhood works to attract homeowners. Just like the “For Sale” signs hanging on a balcony work, or that several people enter a real estate agency, because they are located in a strategic place.

To get customers in this way you don’t need a website, or Facebook, or anything. However, why does he dig a hole with a shovel, when we have an excavator? That’s the internet, an excavator that makes 100 holes an hour.

Apply Online Real Estate Marketing.

Yes, I know that all real estate agents would agree with me that today the internet is the place to be. The problem is that “you have to know how to be.”

This is where most agents, agencies and promoters fail. They believe that this on the internet is to have a website, have a presence in some social networks, publish on the portals and ¡ala! … To blow and make bottles.

When the reality put them on their site is when they began to learn online marketing and get the results they were looking for. To get here, they had to deal with so-called online marketers who had no idea how to sell a property; learn themselves by investing time and money to lose opportunities that others took advantage of thanks to their ignorance. That does not happen to you.

Before starting your real estate business, learn a little (learning everything is almost impossible and will take you years) and the essentials of online real estate marketing. And what is essential?

Well, you need to design a website that helps to buy, you need to learn Word Press to be able to manage your website yourself; you need to learn how Facebook works, apply real estate SEO and know what your keywords are.

Learn how you can use YouTube in your real estate business; learn real estate copywriting to stand out on portals and classifieds; you need to know how to position your business online.

This is just the bottom line. It sounds like a lot to learn, but this can be learned in a few weeks by finding someone who will explain it to you clearly.

Once you have learned the fundamentals of online marketing, come to learn the method that will make you earn money faster than the competition, in a calm way without sweating too much and going home at 5:00 pm almost every day that you do not have to show a property.

Sales funnel. Purchasing process.

Let’s take another analogy. Why go from Madrid to Barcelona on foot if you can go by car? There are many ways to attract customers online, but there is one that kicks all the others 100 kicks and is called a “real estate sales funnel”.

To properly apply this sales funnel to your real estate business, you must first understand the process of buying (not selling) a property. If you understand the process, you will understand why a sales funnel works so well.

Knowing the elements that make up this real estate sales funnel and how to put it into practice on your website, on Facebook and in any other medium, (well, on the portals they will not let you apply it), is what it will bring you qualified customers every day.

I’m not going to explain here how a real estate sales funnel works in detail. I have written another article on this topic.

My message in this article is that you need to know how to attract customers with a funnel so that you go fast and savor success as soon as possible. Spending months without selling a property demotivates anyone.

In essence, a real estate sales funnel consists of a process by which your potential clients leave you their information so that you can contact them. The good thing about the funnel is that the process filters the least qualified customers to buy the property you sell to leave you with the most qualified at the end of the funnel. And among those qualified is the one who is going to buy the property.

That is a fairly simple explanation; but it is the essence of the real estate sales funnel. A process that you have to know and master as soon as possible.

Let’s move on to the fourth key that you need to implement to create a successful real estate business in less than 3 months.

The Real Estate Business of the Portals (Real Estate)

Do you want to know a round real estate business? That is the business of real estate portals that for the most part, (there are exceptions that are counted on the fingers of one hand), take advantage of the ignorance or poor preparation of many real estate agents to make money as if they were printing it.

I have nothing against real estate portals. They offer a service that is legal and necessary; but not as necessary as they lead us to believe and it is certainly not cheap, or in other words, quite expensive for the profitability they offer.

 

Leave a Reply

Your email address will not be published. Required fields are marked *