There are so many reasons to choose a real estate career besides of being a boss on their own and having the chance to grow a lifelong business. In fact dealing in real estate matters or properties becomes a popular choice of business nowadays.
Apart of that, we have to look on how we have to treat real estate career like a business. I make it clear here – Yes, real estate career involves business so now we go to treating it like a business.
The first step to realize this is making your own decision or in other word, be your own boss. Be an independent contractors as most of real agents today. Grow your business, plan your move and set your schedule and strategies in doing the deals. Always remember that time never wait for you so learn to decide quick and realistic. Stick to your decision and make it as a principle while doing business.
Grow your business based on your plan and strategies and go through it. You are independent on how to grow your business. Some people say – no limit – meaning that you can expand as you could but again, be realistic.
As we are talking about business, we cannot avoid ourselves from mentioning about making profits. In other word, you have to make sure that the amount of money coming in is greater than the amount of money going out. Do it as business and not just the deal. Emphasize your chance to create profits and not just making deals.
Some people might fail in the first try so always remember that business involves trial and error so keep trying until you success. There is no easy way to success and that is business.
Yes, it is time to treat real estate career like a business!
I also think that one should know when to be firm with a decision and know when to be flexible. Am I right?!
Nice article. Business is all about making profit but first set up your goal it is very much important to start any business. I think real estate business is very much profitable because everybody wants to buy a house but the real estate agent should be careful before dealing.
My view about going into real estate is the following. It is one of the many industries that has low barriers to entry, and it thus already oversubscribed.
Given this fact, there will always be a huge amount of competition in the (for want of a better description) easier, more mainstream part of the business.
If you really want to carve out a niche in this industry, you need to identify a niche that seems harder to succeed at, or requires slightly more than average skills. If you choose a niche that meets these criteria, you will probably find that, paradoxically, it is easier to win.
See Tim Ferriss’s book The Four Hour Work Week, where he points out that it is sometimes easier to do the almost impossible as opposed to the merely difficult, as there will be less competition.
Hi, rightly said there seems a great hope in coming years in Real estate industry. REMAX is one of such organization who has made this dream a realty. Now many of youngsters take actively part on real estate business with remax on their back. They are spreading like a fire throughout different part of the world.
Definitely it’s really vital to be independent and making your own decisions. Never fear of failures. It’s the only way to learn this business.
When it comes to business, a businessman is always taking the risk. They have to be ready for so many challenge ahead. They might expect greater money in return, but to earn from what they do is okay. In later time, after a year, they will feel the fruit of their labor.
Agree that real estate has a low barrier of entry, so it is very crowded. But you can really stand out if you are web-knowlegeable, and you can get your site or blog showing up for people searching for property.
When it comes to sales, it’s all about percentages. If 5% of your leads actually buy, then as frustrating as it can be getting rejected 95 times, you’ve simply got to drill through and get those hundred leads to put the cash in your pocket!
TheSignChef – Signage, Vinyl Banners and Real Estate Signs
In the Texas growth triangle, most of the fundamentals are in position to push demand:
• Texas is the 12th largest economy globally.
• Texas is the quickest expanding state in the nation.
• Texas’ net in-migration is more than twice as large as any other state’s.
• Texas didn’t experience excessive increases in real estate prices, and the credit crunch hit at the right time to avoid overbuilding in Texas real estate, so there is not a huge surplus to keep the market from reacting when conditions improve.
• The supply of empty developed parcels in Houston, Austin & San Antonio is in the bottom 15% among the top 40 national markets.
Here’s the primary driver of the opportunity: Many of the vacant developed lots in the Texas Triangle are now held by banks and other financial investors whose primary interest is in clearing up their balance sheets. Consequently, these properties could probably be purchased for only one-third of normal value.
Very nice post I have found this very useful so thanks and keep it up
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