If you’re thinking about building your own start-up and your interest and expertise is real estate, there’s no time like the present! If you are having doubts about it, it’s natural, but if this is really what you want to do, don’t let anything stop you. We all have our doubts and insecurities. This is why it’s important to have some help and support during your endeavours. Some piece of advice along the way may not only come in handy, but could also prevent you from making the mistakes others did before you and giving you guidance and thus easing your progress. We’ve come up with a list of things for a young entrepreneur in real estate to keep in mind in order to build a successful career.
Working from home
As a contrast to your previous job, you will be working from home. This brings some benefits, but there are flaws as well. Working from home allows you to work in your PJs, set your own working time, take breaks whenever you feel like it and procrastinate endlessly. For well-organised and disciplined individuals, this will be great as they won’t allow themselves to get sucked into the amount of freedom that working from home gives them. However, if you are a bit lazier by nature, you need to be careful not to fall into this trap.
We advise setting strict working hours for yourself, regardless of the fact that you work from home. Knowing when you’re going to work and when your coffee and lunch breaks are, you’ll be able to be more productive and get things done faster. Try not to do your work in your bedroom, but in some sort of a study. If it helps, you can even put on a suit and pretend you’re going to work.
Make offers others can’t refuse
Always make sure to have the best offers. In order to do that, you need to have valuable information about the current real estate market condition. Knowledge is power and you can use it well to your advantage. Apart from knowing the state of the market, you need to constantly learn about new trends in the real estate business so you can create the best offers for your customers. For instance, many granny flat builders in Australia are going viral, whereas in other areas other things have bigger priorities. This is why it is important to stay on top of the market demands.
The one thing your start-up cannot survive without is customers. You need to find a way to attract them and convince them that your real estate business is the one for them. Social media needs to be a big part of running your business. Customer support and feedback also need to be at the highest level. You need to value both positive and negative criticism and create a vision of a reliable company in their eyes. Unfortunately, in today’s market, being good is not enough, you need to let others know about you and what your company does.
Treat your employees well
No man is an island. Regardless of how much you know or how good a worker you may be, you cannot do it all on your own. That is why you need to surround yourself with capable and trustworthy employees. However, you also need to show that you value them. In order to have efficient workers, you need to encourage certain behaviour that you’d like to nurture and discipline the bad. Have an “Employee of the Month” award and also announce the top three or five. Let your employees know what you expect and, as soon as they see that you value their effort, they’ll try harder and be loyal to you forever.
Being a good leader will take up a lot of your time and will include a lot of stress. It will bring you joy and happiness, but very often it will be painful and exhausting. You need to know what you’re signing up for. However, if you do decide you’re the right person for the job, go ahead and do your best to be good and you’ll be able to cope with every obstacle that comes your way.