Starting a business is always risky. In most cases you need to have a large sum of capital to begin the business, without any assurance that it would succeed. For instance, imagine opening a café. You might need a total capital of RM300,000.00 or more, only to find out later that the location or demand was not good enough to even get a break-even. However, this is not the only way to go about starting a business. At Good Institute we have many new people who aspires to do business attending our courses to get into the real estate industry. Why?
Aspiring real estate agents eager to start their business.
There are plenty of reasons why business enthusiasts choose real estate as the industry to jump into, such as the flexible hours it offers, the lucrative rewards it comes with, and the fact that real estate is a constant need that will never die out as a business. Starting out in the industry however can be a daunting thought for any as success does not just happen overnight. In fact, it can be downright challenging if you have no idea what you are doing. So here are some beginner tips you should consider when starting out in the real estate industry:
- PLAN IT OUT
As any successful business in the making, you have to plan out your options and understand what you want to achieve according to your allocated time and effort that you would put into it. As a real estate agent, there will be multiple ways for you to run your real estate business as there are multiple methods that will help you in earning a sustainable income. Carefully look into the most effective method for you be it from client servicing, business marketing and development, or business management of your team of negotiators working under you. As we are looking into a business perspective, this article is focused more on a real estate agent’s point of view. For real estate negotiators, refer to our article NEGOTIATING YOUR WAY TO SUCCESS IN REAL ESTATE to have a better idea on your options in the real estate industry.
- EXPLORE MULTIPLE COMMUNICATION CHANNELSâ€‹
When it comes to communication channels, there is no one perfect solution to it. Depending on the properties in the area you are focusing on, you could be tapping into different markets through different channels. Start exploring the different channels for marketing and promotions be it through social media, pamphlets, exhibitions or so on to find the most cost-effective and result-oriented channel suitable for your real estate business. Once you have found the right channel, it is all about keeping up with consistency and ensuring that your team or agency are attentive to clients.
- ALWAYS BEGIN WITH A FRESH ATTITUDE
It is important to realise that real estate is a people business. Having a fresh and likeable attitude towards the job is very important in attracting clients to put their trust in you for their property transactions. Ensuring your client’s satisfaction and happiness with your service will lead to new opportunities as they endorse your service to their friends and acquaintances apart from seeking it themselves again in the future.
- STAY DETERMINED
Being an agent is like running your own business, and every business starts from the bottom. You might think it is overwhelming at first, but so long as you are focused on what you want to achieve it can be done especially with proper guidance from your principals or team leaders. It all depends on your own determination, ambition and self-discipline to reach your goal.
To have a better understanding of the real estate industry, we recommend you to attend Good Institute’s Free Preview Class to find out more about this lucrative industry.
Written by Qisti Zahairi.
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