Real Estate Taught Me About Business

Similar to Batman’s multiple career roles, when I am not spending my time as an adman in Las Vegas by day, I spend my nights and weekends as a Realtor around town.

Needless to say, it is amazing how many business lessons and sales tactics you can learn from working in real estate and how those tactics can be applied to other business industries. Here are just a few examples:

Strong Communication – A simple success strategy in business is to have open communications with clients and peers. If you are working with a client, be sure to keep them updated on the process as things progress. Leaving them in the dark (even when you are working hard) can give the perception that nothing is happening. Keeping clients in the loop is instrumental in your long-term success and top-of-mind awareness. Remember to do this not only to your customers, but with your business peers and partners as well. Good communication helps the relationship move forward a lot smoother.

Make a Promise and Keep It – If you say you are going to do something, DO IT! There have been so many instances where I am given false promises about deadlines and processes, and in the end they never happen. When things come up or deadlines need to be pushed, just be honest. Referrals and future business are earned by your performance.

Be Clear, Simple, and Prepared – What better way to work with a client than to make everything as streamlined and easy as possible? One of my biggest pet peeves in real estate is the direction ability of agents. On several accounts I have followed directions to a property only to find that they are either very unclear or incorrect. I have had a few instances where the directions just say “go west on Charleston” (from where?) and then “turn right” onto a small obscure neighborhood street. This is just lazy business. The worst thing you can do in business is to have an interested buyer and then lose the sale because of a lack of preparation and clarity.

Present Your Expertise to Clients/Peers – If you are representing a client to help sell a product, make sure you work with them and give them your expertise. That’s what they hired you for. Your expertise will help them succeed. For example, I have tried to set up home showings with Realtors who relay me off to their sellers. In talking with the sellers, sometimes they only give a two-hour window on only one day in the week to show the house. Other times, I have had sellers say that if I were to come over right now, they would walk around naked in front of my clients. I even had one seller open the door as my client and I were standing in front of her house, and she said that she was doing yoga right now and it would not be a good time for us to view the home. This is after an appointment was already set up! It’s just bad business and could easily have been fixed if the seller’s Realtor had properly educated his client.

These are just a few simple tidbits I’ve picked up along the way. Just remember, to have a strong sales technique in the business world, you have to work hard and build a strong reputation.

Warren Buffett has a great quote I love and follow, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

Ehsan Kaveh is an Account Executive at Imagine Marketing.
Contact Ehsan at
ekaveh@imnv.com

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