Mar 7, 2023
A lot of the time, EVERYTHING we need for success is right in front of us. In today’s episode of The Real Estate Podcast, Jimmy goes over 7 CRUCIAL things most realtors miss about setting their business up for success.
It’s not about the houses, it’s about the people.
Oftentimes, when someone is wanting to get into real estate, they think the business is about houses. Real estate is about PEOPLE, it’s NOT about houses.
When you focus on houses instead of people, you push YOUR thoughts onto clients instead of letting them think about what THEY want. Instead of adding value, this subtracts it.
It’s not about the number of leads, it’s about the quality of the conversations.
Leads are vital in real estate, yes, but if you only have names and emails, it amounts to NOTHING. Quality is more important than quantity.
You have to identify people who are genuinely interested in doing business with you, then DEVELOP deep relationships with them. Otherwise, you won’t generate leads or turn any profits.
It’s not about how impressive you are, it’s about the value you bring.
The market only rewards people who bring value to it. If you want to get more income, you HAVE to add more value to the market.
Instead of focusing on being impressive, focus on things like becoming the go-to knowledge source in your area and adding value to clients. This will ultimately reward you and your business more than just being impressive.
It’s not about your split, it’s about how much you make.
Instead of focusing on maximizing your split, focus on generating as much value and income as possible.
If you have 1 deal and get a 100% split, that’s 100% of the profit, sure, but only a single deal. Compare that to 10 deals with a 50% split. It’s less money per individual deal, but more income overall. Prioritize getting more and more deals over maximizing the profit of each individual deal.
It’s not about how much you make, it’s about how much you keep.
This isn’t specific to real estate, this is relevant to LIFE. Income is important, yes, but you’ll only grow your business and your personal wealth through SAVING that income.
If you bring in a million dollars but spend it all, you have nothing. However, if you save 75% of it, you’ll still have something. Save your money and put it to work.
It’s not about the closing, it’s about the follow-up.
Adding value to clients is one of the fundamentals of real estate, and people often neglect it. However, it's fundamental for a reason, following up and adding value is KEY for business growth and success.
Every deal you close presents an opportunity for future business. Don’t neglect to follow up, otherwise, you’re neglecting the possibility of future leads.
It’s not about you, it’s about them.
This one should go without saying. The core of ANY business, whether real estate or not, is focusing on your CLIENT, not yourself.
If you want to continually grow, you HAVE to add value and focus on the needs of your customers. Otherwise, your business will fail. It’s not a matter of if, it’s a matter of when.
Do you have a video or content idea perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook, and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.