Perhaps you are a resident of Los Angeles who strongly considers a career in real estate? If so, you’ve found the right article for you. With an average base salary of $97,484, now is a great time to roll up the sleeves and begin your career as a real estate agent in one of the world’s most robust real estate markets. Sure, it will take some time to obtain a real estate license, join the National Association of Realtors (NAR), and find your rhythm and place on the market, but once you figure this part out – you are ready to swim with the big fish and make it big time!
Still, nothing in life comes easy. With so many realtors in the greater Los Angeles area, sometimes it may seem pretty much impossible to crush them to a client and grow your real estate business. Don’t fall in despair, though. Your real estate business’s growth potential lies well within your hands, and there are a variety of actions and strategies you can actively pursue to separate yourself from the realtors’ pack. Getting more leads, reaching out to potential clients, and making more sales should be the number one, two, and three priorities. In the following paragraphs of this article, we’ll offer proven tips and acute strategies to make it big with your real estate business in Los Angeles.
Surround Yourself With The Right People
In order to grow your business and generate sales all year round, you need to have a targeted approach to find the right people at various networking events and surround yourself with them. Don’t hesitate to connect with people who can help you out, whether someone to share advice or two, or a person who can deliver financial help to your business.
As there are hundreds of active real estate networking groups in Los Angeles, do your homework and attend whenever you can. Occupy your thoughts by meeting and building a diverse group of professionals and surround yourself with those who can help you reach your exceptional business goals. As your center of influence will grow through time, make sure there is no shortage of contacts with people you will interact with during a sales transaction like buyers, sellers, appraisers, investors, inspectors, and others.
Don’t forget to hold a highly respected and enterprising Los Angeles mortgage broker close by your side, as mortgage brokers and loan officers are continually meeting real estate buyers in person. They can certainly refer you to a realtor friend, so keep them close. Stay committed to your purpose, and as these meaningful relationships grow, see how some of the people around you are more valuable in expanding your business. In contrast, others would better serve you as trusted mentors.
Make Use Of Modern Technology And The Internet
Regardless of what some of the old-school real estate agents may tell you, you need to embrace modern technologies and the Internet to succeed in today’s real estate world, let alone in a tech-savvy city like Los Angeles. Make use of your website, and engage in social media networking to get a foothold with today’s sellers and buyers. Set a reasonable budget aside to establish a decent web presence for your business and watch how the Internet can generate a crazy amount of leads for the properties you are trying to sell.
Make use of the popular social media platforms, and use as many tech tools as possible to promote your business and your brand. At the bare minimum, your real estate business must have a profile on Facebook, Instagram, LinkedIn, Twitter, Google Maps, Apple Maps, and perhaps even on YouTube and Pinterest. Utilize these platforms to share original content as well as written articles which are often picked up quicker by search engines than blog content from your business’s website.
In addition, here are a few creative ways to make the most out of social media as a growth tool for your real estate business:
- Perform live video tours of newly available properties on the market.
- Congratulate new homeowners on Instagram, as it allows you to share how you’re changing people’s lives for the better.
- Promote your listing posts on Facebook and Instagram to reach a broader audience in the greater Los Angeles area. Sometimes, even $10-15 can go a long way!
Ask For Referrals
Since 39% of sellers who used a real estate agent found their agents through a referral by family or friends, and up to 70% of a real estate agent’s work is coming from referrals and word of mouth, focus on driving referrals with both past and current clients. There are numerous ways to make use of this profound marketing technique, including:
- Offer referral gifts
- Request referrals on your website and social media accounts
- Give thoughtful client gifts
- Provide branded materials to make it easy to be referred
Improve Your Time Management Skills
If you spend most of your workdays trying to reach the end of your to-do list, it’s almost impossible to grow your business and make it big. Rather than focusing on what can elevate your business to the next level, you are just playing catch-up.
Distraction is one of the biggest causes of lack of time management skills, and that’s nothing new in the world of busy real estate agents. Start using a simple time management tool to organize your day and complete specific tasks within a set amount of time. The next time a random phone call comes in, try to wrap it up in no more than ten minutes and stay on track with your daily business-oriented objectives.
Employ An Assistant
As you progress in your real estate adventure, there will come a time when you won’t be able to manage everything on your own. When the time comes, hire some help, even if it’s just an assistant. This will undoubtedly give you a breathing room between meeting clients, making it in time for meetings since Los Angeles is enormous and you’ll be stuck in traffic every now and then, and finding some spare time to maintain your sanity.
In case you can’t afford a full-time in-person assistant, you can hire a virtual one instead. The virtual assistant can also take the office calls for you, manage leads, and whatnot, despite being far away.
Building a successful real estate business in Los Angeles can be undoubtedly an emotionally and financially rewarding process. Learn from the top people in the industry, master the market using our tips and real estate strategies, and it’s only a matter of time before you make it big in the 213!