The quickest way to achieve success in your Real Estate practice is to find someone who has achieved success in Real Estate and use their process of attaining success as a model.
Steve Jobs was quoted, as re-quoting Picasso, when saying “Good artists copy, Great artists steal”. By this, we think he meant that great artists ‘steal’ the methodology and way of doing things from great artists and then adapt and build on these methodologies to make them their own. In fact, many great artists started out as apprentices of great artists.
Issac Newton said “If I have seen further than others, it is by standing upon the shoulders of giants.” Here again, Sir Newton is stating that he owes his success to building on the success and insights of those who have gone before him.
And Anthony Robbins, the great motivational speaker said, “Remember, success leaves clues. There’s a Pathway to Power; a way to achieve what you want in a shorter period of time. And the way to find it is to model someone who’s already achieving what you want.
If someone is successful at anything, whether they have a great relationship, are extraordinarily successful in business, or they have the body and energy that you desire, they’re not lucky. They’ve got a set of strategies that they apply and those strategies work. You don’t need to reinvent the wheel. You don’t need to reinvent a way to succeed. Throughout my life, I’ve always believed it’s been best to learn from others. That’s how you compress decades into days.”
If we want to achieve success in our Real Estate Practice then it is incumbent on us to copy the strategies and methodologies of successful Real Estate Agencies. These methodologies and strategies are encapsulated in their business models.
A business model is the plan implemented by a company to generate revenue and make a profit from operations. The model includes the strategies and methodologies of the business, as well as the way it earns its revenues and the expenses it incurs.
Successful Real Estate Agencies follow a few key business models:
- The Overall Business Model
- The Marketing Model
- The Budget Model
- The Staffing Model
The Overall Business Model
This model links where your revenue comes from (gross revenue), where it goes (expenses) and how much is left for you (net income).
The Marketing Model
This model consists of the procedures to generate listings and leads. This model also includes your marketing positioning or how you want to be perceived in the eyes of buyers and sellers.
The Budget Model
This model is about understanding the details of your expenses and how to minimize them and therefore maximize your net income.
The Staffing Model
The model guides the hiring of help when you have maximized your time and you still want to grow.
Together these models can help you build a successful Real Estate practice.
So follow the advice of Steve Jobs, Issac Newton and Anthony Robbins and learn all you can from successful agents on the way they conduct each of these models. And you will be standing on the shoulders of giants.