5 tips to get your real estate business started
There are five principles you’ll need to build a real estate business that are remarkably similar to how a runner trains, says Jimmy Burgess. His best advice: “Run your race now so that your future self will thank you.
Do you receive Inman’s Agent Edge? Make sure you are subscribed here.
Over the past few years my 14 year old son has started training to run longer distances ranging from 1 mile to 5K (3.1 miles). I learned a lot about preparing to run a race, the psychology required during a race and the power of finishing a race well.
If you want to build a successful real estate business, you need to plan go the distance. And that requires exercising the same mental muscles that marathon runners develop through training. Here are the five principles you will need to remember when building a long distance real estate business.
1. The more you run, the faster you get
One of the most basic principles of distance racing is that the more you run, the faster you get. The beauty of this principle is that everyone can go faster if they put in the necessary kilometers. The more you run, the better your technique becomes, as you notice slight adjustments that lead to increased efficiency.
I have found that this principle is also true for real estate agents. The more you do something in real estate, the better you get at it. The more calls you make, the more you improve your value communication. The more content you post on social media, the easier it is to identify content that your ideal customers respond to favorably. The more SEO appointments you make, the better your presentation will be and the higher your conversion rate will be.
Whatever area of your business you are looking to improve, simply do more and improvement will follow.
2. You must be ready to give your best
Proper preparation is essential to successful running races. You need to be rested, hydrated, well fed with quality food and have practiced enough to perform at your best on race day.
The most prepared athletes are the most successful athletes. Although talent can sometimes win a race, the best prepared athletes consistently win over time.
Do a bowel test before embarking on any day:
- Are you ready to give your best in real estate?
- Do you have the energy and mental clarity you need to deliver your best to your clients?
- Have you researched your local market statistics to a level where you can provide the most professional information to your customers?
- Have you practiced presenting your ad before presenting it to the potential ad customer?
Preparation leads to peak performance. When you become the most prepared agent in your market, success is inevitable.
3. Find your rhythm and run your own race
One of the biggest mistakes new runners make is running their race based on what other people are doing. If other runners sprint out of the gate, they set their pace around them and usually end badly due to starting too fast. If a group of runners slows the pace of the race, then they slow their pace to the point that they’re not getting all they can out of themselves.
Sometimes when one runner takes such a big lead, the other runners just give up and ride to the finish line, never reaching their full potential. These are all mistakes that prevent the runner from running their best race.
Unfortunately, many real estate agents fall into similar traps. They see other agents doing business a certain way, and they think that’s the way they should run their business. Then there are agents who end up in offices where others are freewheeling and not growing their business. This leads to stagnation and a lack of growth commensurate with the agent’s potential.
Another pitfall is seeing an agent find success very quickly and then, based on their extreme success, giving up because they don’t feel like they’re living up to the results they see in the other agent.
The beauty of our business is that there are many ways to be successful. Find your rhythm and develop your activity according to your timing. Surround yourself with other growing Agents, and you will grow.
Finally, don’t judge your results based on the successes or failures of others. You control your business and how you build it.
Whatever it is for you, run your course and find the pace that helps you grow the real estate business you desire.
4. Walk through the pain
Every successful runner will encounter pain if they want to run their best race. The question is, how will they react to the pain? Most people back off when they feel pain or discomfort during a run. Champions collide with pain.
They understand that pain is temporary and that we all live with one of two types of pain.
The temporary physical pain that occurs during the race or the psychological pain of regret for not having gone through the temporary physical pain or discomfort to give our best in the race that lasts a lifetime.
Officers may not feel physical pain, but they seek their comfort zone and avoid discomfort whenever possible. Shooting videos, making prospecting calls, going door to door or posting regularly on social networks makes you uncomfortable?
I would say that the thing that scares you the most or is the most uncomfortable for you is the very thing that will take your business to the next level of success.
The discomfort and pain of stretching yourself to grow your business is temporary. But not getting over that discomfort pales in comparison to the pain of regret for agents who don’t achieve the success they could have achieved.
5. Sprint when others fade
In cross-country races, there are often hills in the course, or there may be a time when the runner is running into the wind, which makes this part of the race more difficult. These are the times when champions catch up while others walk away or fade away. Many runners also pass out at the finish because they aren’t properly prepared or don’t have the energy to finish strong. This is when champions sprint as others fade.
The market is changing. It would be naïve to think that there will be fewer transactions this year or next year than the year before. Many agents have had a meteoric run over the past few years, and this transition in the market is a time when many agents will slow down or fade away in their pursuit of business growth as it becomes even more difficult.
This is the time when the agent who increases his business creation activities can gain market share. Acting now, when others are slowing down, is the optimal time to see leveraged growth in your business.
Adapt to an ever-changing market, add value to the market, and always lead your own race. We will all cross the finish line in our business at some point. Run your race now in a way that your future self will thank you.
Jimmy Burgess is the Director of Growth for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Facebook or Instagram.