When you tell your friends that you’re a real estate agent, what you really mean is that you are an entrepreneur who is the CEO of your own business.
At your brokerage, you have a support system in place, but you are also wearing quite a few hats. You are also a marketer, a technology officer, and an operations specialist.
Understanding the importance of each of these “C-Suite” roles in building your business is critical in positioning yourself for long-term success. And as an entrepreneur, that desire to succeed is truly what defines you.
Here are four tips to consider as the CEO of your business:
- Define your value proposition. You should be able to define and articulate the promise you make and most importantly deliver to your customers. Why should they choose you? What benefit do you provide? What problem do you solve? Your value proposition should be an integral component of your marketing efforts.
- Position yourself in your market. When you put on your marketing hat, remember that consistency of message is key. It’s important to find ways to position your expertise and demonstrate your market knowledge. Look at what the competition is doing; and showcase what you offer that they don’t. From social media to SEO, make sure to effectively leverage the proper channels to reach your target audience.
- Have the systems in place to create customers for life. A significant portion of our business in real estate runs on referrals. That means converting leads into highly satisfied clients not only fuels this year’s bottom line but also creates a pipeline of revenue for the future. Your purview includes everything from having a website to capture a customer’s interest to tapping into customer relationships management systems to stay connected to your clients far beyond the transaction.
- Ensure you have the right plans in place for your future – and don’t be afraid to revise it. Charting a course for your business gives shape to your activities and keeps you accountable. As the operations specialist, you should monitor progress towards goals, respond to new opportunities and revisit things that aren’t working. Having a solid grasp of your financials – what you’re spending compared to what you’re earning – can help focus efforts that will support growth for the long term.
As a real estate agent and entrepreneur, you seamlessly transition from role to role depending on the need or focus. Not only do you identify what needs to get done but you are the one that does it. As a successful “C-Suite” agent, you have developed the skills to do what you do best.
What comes next? In keeping with an indomitable entrepreneurial spirit that defines real estate, what often lies ahead for the successful agent is expanding the business by adding team members. In some cases, successful teams can further their path by forming a brokerage.
Whatever your personal and professional goals, adopting a C-Suite approach is an invaluable frame to shape your business and continued success. From one CEO to another, I wish you the best of luck in your entrepreneurial endeavors!
Whatever step you may be in your real estate career, ERA Real Estate has the tools, technology, and platforms to support your success.