In the world of real estate, the heights reached by those at the top of the ladder are truly astronomical. The world’s most powerful real estate moguls are in the first percentile of the one percent, holding billions of dollars worth of assets and capital. These few individuals have managed to build modern-day empires for themselves, sitting in gilded gold thrones miles above the surface of the earth.
As one might imagine, these moguls are often role models for novice real estate agents. With modest salaries and big dreams, these less experienced real estate agents spend their days working tirelessly in the hopes of achieving a fraction of the success of the top players in the real estate game.
If you count yourself among this group, then you likely have similar dreams. At night, you dream of one day waking up in a monolithic mansion all your own, attended by an army of service staff and looked after by professional security. There’s only one problem: how are you supposed to go about the task of getting from where you are now to where you want to be?
This is a great question, and today we’re going to be taking on the task of planning out a route that will help you achieve this goal. Building a real estate empire is tough; it will take wits, skill, experience and perhaps even a bit of ruthlessness, but you might just be cut out for this task. There’s only one way to find out, so follow along as we walk you through the ABCs of becoming a real estate mogul with your very own empire!
A sure thing this is not
Before we go any further, we have to point out something that should be obvious, but we’ll mention it anyway. This article doesn’t constitute a surefire guide to obtaining wealth and fame the likes of which have never been seen. Instead, it’s more of a general set of tips, gleaned from the journeys of real estate moguls throughout recent history.
In this article, we’ll be providing you with tips that have worked out for real estate magnates such as Warren Buffet and Donald Bren. These techniques and tricks have long helped real estate agents and investors alike achieve their goals and fulfill their true potential. While implementing these tricks might not result in you becoming a multi-billionaire, it will up your game as a real estate agent. Let’s look at some of these tips and tricks now!
Build a good reputation
Before you can run, you must walk. Much the same as a child developing stage by stage, if you want to be a real estate mogul, you have to put in the work and build a solid foundation before you can hope for success. In real estate, the most important aspect of this foundation is your reputation as a professional.
There are a lot of things you can do to solidify your reputation as a helpful, efficient and most of all professional real estate agent, but the most important step is simply treating your customers right. Treat every client as a friend, and do your best to serve each as you would a member of your family. Keep this up long enough, and word will spread: you’re a great real estate agent!
At the beginning of your career, it can be tempting to engage in underhanded tactics to secure quick sales and those sweet, sweet commissions. No matter how tempting these tactics may be, it’s never a good idea to mislead, lie to or otherwise mistreat clients. Just as word of good deeds spreads quickly, so does word of ill deeds. You don’t want to ruin your reputation before it’s even been made!
Make sure you have the right tools
Every professional has their tools. This goes for real estate agents too! If you want to be successful, you’ll need to make sure that you have the tools of the trade ready at hand, prepared for anything that the world of real estate might be preparing to throw at you. With these tools in hand, you’ll be equipped for success!
First up, you’ll want the practical stuff. These tools will help you do your job quickly and efficiently, enabling you to reach peak efficiency. Among their numbers you’ll at the very least want a high end, lightweight laptop, a modern smartphone and a quality notepad and pen. There are other practical tools you’ll need as well, so find a real estate agent with more experience than you and ask what they use!
Then there are the more subjective tools, the ones that vary from real estate agent to real estate agent. A car is a good example of one of these tools; while virtually every real estate has one, which car a real estate agent chooses to drive can say a lot about them. There are many different tools that fall into this category!
Dress for success
This one isn’t a rule, necessarily speaking, but it can go a long way towards providing you with the edge that’s necessary to make it in the real estate world. How you present yourself to clients and colleagues will do a great deal to determine how they treat you in return. In the business, image is everything, so make sure yours is up to snuff!
Your personal image is very important. What you wear, who you’re seen with and even what car you drive can make or break your presentation of yourself, so be sure these aspects of your professional life are presentable. At the very least, you should own and wear a tailored suit or two, a tasteful but high-quality watch and a reasonably impressive car.
Of course, your belongings and apparel are only half the battle; how you carry yourself is also very important. Your demeanor, posture and body language all inform how people perceive you. Do your best to maintain good posture, carry yourself in a professional but approachable way and use body language to convey confidence, capability and collectedness.
Use modern marketing
There’s an old saying: if it ain’t broke, don’t fix it! This may be true for cars and industrial machinery, but the world of real estate is one in which the top dogs must always be looking for a leg up if they want to stay on top. Sure, old school conventional marketing may be adequate for a small town real estate agent, but you’re trying to build an empire!
The success or failure of a modern marketing campaign hinges on one’s ability to understand and use the internet. Social media, online advertising and a well-designed website are all essential components of a modern marketing strategy, so do your research and figure out what makes these things tick.
Although it may not be immediately apparent to someone without an affinity for technology, the most vital aspect of the internet is organic, original content. The more corporate and polished your marketing is, the more likely it will be to get lost in the sea of soulless corporate advertising that the internet is home to. Figure out what people are interested in and use it to your advantage!
Network, network, network!
We’ve said it before and we’ll say it again: networking is the oil that makes a real estate empire run smoothly! As an aspiring real estate mogul, you need to view every human connection as an opportunity to help that human find the real estate they truly want. If you can find and woo those in need of your services, you’ll always have work!
This isn’t to say that you need to become an insufferable non-stop real estate hawking boor; far from it, as a matter of fact! People love it when someone takes an interest in them, but they are equally turned off by someone who they believe is trying to exploit them for personal gain. Never push real estate when it doesn’t come up naturally.
The secret to networking is finding the right moments to talk business, with the right people. Once you make a connection with a potential client, it might be weeks before you happen upon the most fortuitous moment to offer your services as real estate agent. Be patient and make the most of the connection; the right moment will come in time!
We won’t make any bones about it; building a real estate empire is a difficult task. There’s no secret recipe for success, besides time, hard work and a healthy helping of luck. That shouldn’t stop you from striving to reach that goal though! Even if you don’t make it to the top of the ladder, you’ll go far with these ingredients alone. That’s not a bad consolation prize, if you ask our team!