The only reason I can tell you this story is because my first two years of Real Estate were a total failure. In my first year, I made a total of $3800 in gross commissions, and another 6 months later I topped that with $2300. You can say I didn’t really have a successful real estate career.
So you can see that my start was probably close to how you started your career. Lost, stuck, and finding the confidence every day to just survive another hard rejection.
I know it is hard to believe me, but what I’m about to tell you is one of the key pillars to building a successful business in real estate. When most people think about their Real Estate business, they think about all the different groups of people that they could help.
In Real Estate this can be geographical groups, age groups, property type groups, budget groups, etc etc. They try to compete in a “big pond.”
I was in the same boat, as I said in my intro. I started my real estate business by just helping, supporting, and serving everyone.
But in the end, I wasn’t able to stand out in the industry. I couldn’t develop the right systems to make and sell my services since I couldn’t target anyone specifically.
So many Real Estate Agents do what I did; it happens to the best of us.
Don’t go for Big, go for SMALL
What you soon realize is that you’re just a small fish that’s competing with big companies in a big pond.
Even if you’re able to grow and gain momentum when you’re starting out, the time will come when you won’t be able to scale your business, because you’re competing with established businesses and you don’t have the same resources that they do
That’s why I want to introduce you to the concept that changed the game for me…
Big Net, Small Pond Strategy
Fish with a huge net in the smallest pond you can find. Target a very small group of people that you can help the most, and be super relevant to that group to compete in that small pond.
In order to get paid what you’re worth, consider taking tactics that are working on a large scale and applying them to a smaller market.
By creating leads and targeting to a small number of people, you can establish yourself as an influencer in a narrower-than-average market.
It can be a great advantage to be recognizable to a select number of people since you’ll be thought of as a leading voice in the industry.
Still don’t believe me when I say that you need to go after a small group of people and you with have your next 6-figures in your account in no-time?
True Story
Then check this out: After 1,5 years in the business, I started to focus ONLY on one resort with about 280 properties. These were both stand-alone properties, and condominiums.
I didn’t do any other areas, I didn’t serve any other buyers looking for other properties except for the one in my resort.
In 8 months I generated over $180.000 in commission with less than 12 customers. That seems like a small number. But remember, in the first year I only made $3800, so I was pretty happy with this.
In the following 12 months, I tripled this to almost $550.000 in commissions. And this took me another 30-40 extra clients.
Positioning is the game of a successful real estate career.
You see, Real Estate is not really a numbers game, that’s why we get confused. Yes, the numbers are in the leads. You need to get as many leads as possible. But the real key to a successful real estate business is – POSITIONING!
More about leads you can find in this article – http://taconco.com/turning-cost-into-investment-for-property-lead-generation/
I know that sounds unbelievable, but that’s how you can build a 7-figure real estate business. That’s how you really build a successful real estate career. You don’t need a large group of people.
You don’t need to go after millions of people. You want to go to a very niche group of people you can help the most.
You can then focus your marketing budget on these people, and you’ll be on top of their minds.
If you got some value from this article, I would love to receive a comment from you below. What is your thought?
Stay safe,
Coach Taco
ps. If you want to become part of a nice group of real estate professionals, you can become part of our Mastermind group withing Facebook. We share relevant and new trends that will always benefit real estate professionals all over the world. check it out – click here
