3 Not-So-Secret Steps to Success

Helpful reminders for brokers seeking business longevity and relevance.

There are no shortcuts in building your real estate business, and success is not something that is handed out freely. Instead, it’s obtained over time.

While luck and good fortune help, you have to develop on a deliberate set of virtues.

Here are three behaviors to master that will help ensure your company thrives in the long term.

1. Learn as much about your market as possible.

The number one trait that successful real estate professionals share is their highly specialized knowledge about a particular community, neighborhood, or property type. This can’t be cultivated overnight. And even if you are an expert in a certain niche, that doesn’t mean that niche will continue to be relevant in the future. To stay useful and productive for your clients in the long term, you must be keenly aware of your market’s changing needs. Understand what’s working today and where your market is going in the future.

It helps to be immersed in the history of your community. How did it get started? What are the major industries, which ones are developing now, and where is the emerging business growth located? What have been some major setbacks? Study commercial developments, even if you’re on the residential side. Stay abreast of zoning regulation changes, schools opening or closing, and other community-modifying events. The more you invest in your knowledge of your community, the better positioned you will be for changes.

2. Entrench yourself with your agents.

Get to know your younger or newer agents on more than a superficial level. Learn about their experience working in the field. Not only will you have the opportunity to coach them, but building relationships will also breed loyalty as well as help you stay in touch with the realities they face. It’ll help you glean insight that you wouldn’t otherwise be able to learn.

Whether you decide to create formal mentorships or informal meetings, dedicate meaningful time to connecting with your agents.

3. Do more than what is expected of you.

Hard work is not a virtue to be extolled simply for hard work’s sake. And working hard on its own is not enough to guarantee success.

If a client, agent, or staff member requests something from you, you should accomplish that task as quickly and as perfectly as possible. If feasible, provide one or two unique and useful additions to the request. People will appreciate and remember the care you put into your response. You will become a more valuable commodity to your industry as will your business.

While the path to success is winding, there are a few steps that you need to master: Learn as much as possible, become entrenched with others, and do more than people expect. From there, you’re guaranteed a shot at success.

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