Starting a real estate business is not as easy as just having the finances to do it – It’s just one piece of the pie. In this article, we’ll tackle the steps on how to start your own real estate business.
Step 1: Planning
Like with any other small or large business, it’s a good idea to write a business plan. The initial phase of a business is its foundation. Without planning, everything would be chaotic.
By planning ahead you are setting yourself and your business up for success. Map out your business blueprint!
The planning process lets you to think about the important things you need to accomplish:
- How are you going to compete with similar businesses?
- How much capital will you’ll need to actually get started?
- What are my goals and milestones?
- How do I measure my success?
- How do I build my team?
Step 2: Research
Research is always an essential element when determining how successful your business is going to be. Find a mentor to guide you to discover your own niche.
Research does not only mean you read up about what Real Estate is. You have to do market research, research the best suitable team to build your business, and research about what strategy would best suit your niche.
As a start up business, you might want to consider the cost you put into building your team. You can consider hiring locally or virtually. Hiring virtually can help you reduce cost of office space and cost of manpower so you can focus more on tasks that help your business thrive.
Step 3: Branding
Establishing and growing your brand is essential to build credibility for your business. You create you own perception in how other people view your business.
You can set the tone of how you communicate with your target audience with how you develop your customer service. You show your professionalism simply by the design of your logo. Marketing campaigns show what type of business you have and how to get clients.
Build your brand’s trust by following these tips:
- Grow relationships with your potential clients by setting a great and professional customer service that listens to the needs of it’s customers.
- Interact with all types of clients by engaging with them on a personal level – this makes them feel that they are important to you.
- Be an expert – Do your market research and regularly speak with your mentor for guidance. This allows you to project yourself as a subject matter expert and build confidence in your clientele.
Step 4: Setting Up Shop
For most people getting started in real estate, an office location isn’t necessary. You can virtually build your “office” at home with the help of your virtual team. You might think that it’s necessary for you to have a proper storefront and hire locally, however that is far from the norm nowadays.
In fact, if your budget does not allow, there are ways to work without having to do so. A flexible approach that allows you to control and stay in your budget lane is a good plan.
When it comes to technology helping you start your real estate business, it can be as simple as using online tools such as Google Suite. This will give you access to an emailing system, Word Document Tool, Spreadsheets, Calendar, Online storage drive, and more. This also allows you to get connected globally with your team or potential clients.
Step 5: Maintain An Online Presence
Make sure that your real estate business maintains a strong online presence. Now more than ever, potential clients make online searches to find out about real estate products and services.
Set up your Google listing and your social media pages. At the bare minimum try to make a post every day if you can. If you can’t do everyday to start off, try every other day until it can become a daily thing. You can use various channels with social media and link them all together for a more credible outcome.
?Let’s Skyrocket Your Business?
If you haven’t had any experience in the real estate industry, it’s a good idea to get advice from someone who can help you map things out. This is incredibly helpful when you’re just starting out and building your own real estate business.
Having a dedicated Virtual Assistant to hand off the tasks that are eating away your time and energy is one of best ways to start scaling your business!
Schedule a FREE Strategy Session today to determine what the best tasks are for you to get started outsourcing.