It should come as no surprise that starting a real estate business is no small feat – it’s estimated that 87% of real estate agents fail within five years. Fortunately, it’s not impossible with the right groundwork. With adequate preparation, you can be on track to succeeding in your own real estate business.
In South Florida, the real estate industry is booming. With that is also one of the highest number of real estate agents in a metro area – within the entire United States! Which means, there’s some stiff competition out there. Perhaps one of the biggest pieces of advice that separates a successful agent from those not as successful is simply showing up – day in and day out.
Despite popular opinion, the real estate industry is not for the faint of heart. It’s demanding and requires a lot of your time and energy. That’s why we’ve pulled together some advice to get you started. As always, if you have questions, get in touch today – with decades of experience in the real estate industry, we are here to help guide you to success.
3 Keys To Success As You Embark in Real Estate in South Florida
Do Your Research – nothing beats time spent learning about whatever business venture you may pursue, and this includes real estate. A successful business plan is always preceded by in-depth research on the industry. Keep a close eye on median home values and rental prices (don’t hesitate to look outside of your current location), and research neighborhood amenities.
Build Your Marketing Plan – making use of your own unique approach in the field will be your first step in marketing and a huge asset to networking. What can you offer that no one else can? Establishing a unique brand for your business is key to laying the groundwork for a marketing plan – settling on a brand logo and mission statement can help seal the deal as well.
Create and Build a Support Network – when you’re first starting out in real estate, many leads and deals will come directly from your personal network. From here, the key to building a strong real estate investment network comes down to one simple factor: communication. Cultivating and maintaining business relationships all comes down to your ability to communicate effectively and strategically.
There’s no denying that starting a real estate business isn’t easy – but it will be well worth it if you’re willing to put in the work. As always, we’re here.