Do You Have a Job or a Real Estate Business?
As reported in Above Magazine, when David Morris made the decision to pursue a real estate career full time, he had a lot working against him. Double-digit interest rates, a weak economy, and on top of it all, Morris was experiencing poor health from the stress of his previous job. But with a wife and growing family at home, he had even more reasons to succeed.
Morris joined RE/MAX in 1991 and he never looked back.
More than two decades later, Morris is a Luminary of Distinction. This elite honour is awarded to those who have earned over $20 million in commissions during at least 20 years with RE/MAX. How did he make it happen? Continue reading to hear some of his best advice, developed over his long career.
In Morris’ early real estate years, he sold homes for Coldwell Banker. He felt like he had a job but not a profitable real estate business. During a conference in 1985, he realized that his current selling process needed an overhaul if he wanted to create a lasting business.
“I suddenly realized that it’s not about how much business you do, it’s the profit you make and the satisfaction of your clients. If they’re not satisfied, the numbers mean nothing.”
Newer agents who want career longevity should ask themselves one question: Do you want a job or a profitable real estate business?
Hire the Help You Need
It is important to give yourself more time to work “on” your business, by spending less time “in” your business. For example, alleviate time by delegating administrative tasks to an assistant.
“Investing in a full-time assistant allows you to focus on business development.”
Offer Past Clients Value Without Technology
Around 40 percent of Morris’ business comes from referrals. In order to get those direct referrals, he relies on face-to-face contact. He suggests inviting past clients out to lunch, hosting small get-togethers and performing casual, yet strategic pop-bys. These quick visits will allow you to stay top-of-mind.
If you want to take your business to the next level, educate yourself. Take advantage of all the great programs RE/MAX has to offer, such as RE/MAX University.
A switch to RE/MAX can open doors for you as an agent or as a brokerage. If you are feeling like your current position is more of a job than a profitable real estate business, then set up a meeting with one of our managing brokers today. We have offices across the Lower Mainland.