Do you want to free yourself from the shackles of a 9-5 job? Do you crave financial freedom? Do you dream of being your own boss? If you answered yes to any of these questions, it is time to consider starting a real estate business.
5 Smart Ways to Grow in the Real Estate Business
1.) Pick a Business Name and Set up an LLC
Once you’ve put your business plan in writing, you need to choose a business name and set up an llc.
When picking a name for your new venture, be sure that it is memorable, creative, catch and accurately describes your business.
You can draw from inspiration but be sure to do your research in advance. Only after you’ve named your business should you start an llc.
An llc will protect you and your business from future liabilities, as well as reward you with additional tax benefits.
2.) Build a website
A Web presence is a must for every business owner especially those in the Real estate world. This is because many potential leads will come from online, for this reason building a website should be your next action.
Do not be overwhelmed, there are plenty of free or low cost website builders online designed for beginners. Another option is to hire a professional Web developer.
3.) Establish a marketing strategy
After you have created your online presence, it’s time to establish a marketing strategy. There is social media marketing email, marketing direct mail bandit signs and a myriad of other tactics. Each strategy has its own set of pros and cons, so choose wisely.
Start by identifying what it is that makes you and your business uniquely valuable – answering this will help drive your marketing campaigns. Now that you’ve chosen a marketing strategy, move forward by launching your first campaign. Whether this means sending your first email, buying your first Facebook ad or creating your first flyer, be sure you are consistent in representing your brand across all marketing channels.
4.) Follow up
This step is of utmost importance, you are to follow up with each and every lead. The worst thing a real estate business owner can do is launch several marketing campaigns all at once only to ignore the increased stream of incoming leads.
Just because a lead may not result in a lucrative opportunity right away doesn’t mean that the lead won’t turn into something valuable in the future. When it comes to lead generation, make it your goal to build a genuine relationship with every potential.
5.) Build a support system
Treat this tip as an ongoing exercise more so than a final step. This is because the importance of building a solid network and support team is unparalleled if you want to succeed. In fact, many leads and deals in Real estate will likely come from your personal network. So be sure to invest time in cultivating relationships with anyone from colleagues to clients to mentors and watch your business grow.