Use your solo status to your advantage as you connect with buyers and sellers in your market.
As you chart a course for your professional career, you’ll have to think through the shape that you want your business to take. Do you want to work your way up through the ranks on a large team, leverage your success to create a team of your own, or forge ahead as a real estate solopreneur? It’s an important question and it goes to the heart of the type of service you’ll provide and the types of resources you can access.
If you choose to operate as a solo real estate agent, it’s important for you to remember that you are running a business. You’ll need to make smart decisions and guard your own time, energy, and reputation. You also need to know when it’s time to ask for help and how to find the help you need. Here are some of the things you need to take into consideration in order to make this a banner year for your solo real estate business.
Implement processes and procedures
One of the great things about being your own boss is that you can do things the way that you want to. However, that’s also one of the things that can undermine your success. Even though you’re on your own, it’s important for you to put into place consistent and coherent processes and procedures for data management, document management, transaction coordination, and financial record-keeping. Better systems create better, more consistent outcomes and keep you on track all year long.
Create a professional support system
Just because you are a solo agent doesn’t mean that you have to do it all yourself. Reach out to reliable freelancers and service providers to ensure that you have consistent professional support. Whether you need a virtual assistant, content creator, CPA, or other help to keep your business organized and efficient, you can find the right fit through a colleague’s recommendation, a freelancer platform, or by networking through a professional social media platform like LinkedIn.
Master your technology
You need to create leverage wherever possible so mastering your technology and mobile platforms is essential. Understand how to get the most out of your CRM, transaction management software, and other programs and applications so that you are more efficient and effective. Keep the information updated and implement shortcuts for a more streamlined user experience. If you’re unsure where to start, seek out training opportunities through your local association, your brokerage, or through the individual product provider.
Go all-in on personal branding
When you are your brand it may be tempting to throw up a standard-issue headshot and a list of certifications and call that a branding plan. However, you need to define yourself and your service just as carefully as any team or brokerage. Create a coherent look across all of your platforms with your logo, brand message, philosophy, and an up-to-date image so that you are instantly recognizable and identifiable.
Learn more about branding yourself >
Take advantage of your nimbleness
As a solo real estate agent, you have the ability to respond to the market and shift your strategy on a dime. This gives you a distinct advantage over larger organizations where there is a chain of command with higher-ups to be convinced. It also gives you the ability to try something new, change up your focus, collaborate, and seek out new opportunities at will. If you feel you’ve been stuck in a rut, set off in a new direction and see where it takes you.
Optimize your sphere of influence
Because you are reaching out as yourself, not as part of a group or as support for a team leader, you can truly communicate with your sphere and offer whatever it is that makes you special. Whether it’s your warmth, your expertise, or your stubborn refusal to take anything less than the best deal for your client, by reaching out authentically to your sphere – family, friends, former clients, and colleagues — you’ll make a big impact and garner consistent referrals.
Use your solo status as a differentiator
Many teams tout their ability to offer round-the-clock service since there’s always someone available. The other side of that coin, of course, is the personal service that you provide as a solo real estate agent. When a client calls you, they know that they will be able to talk to you, not an underling who has never even heard their name. Share the positive aspects that come with your solo status in your marketing, messaging, and social media outreach.
Take on a leadership role in your market
You don’t have to be a mega-agent team leader to stand out in your area. Many successful solo real estate agents get hyperlocal and hyper-involved in their neighborhoods. You can lobby for a committee post in your local or state Association. Run for a position as part of the leadership team or take on a high-profile role at the local Chamber of Commerce. The more you put yourself out front, the higher your profile. The more you grow your professional network, the more likely you are to be top-of-mind when someone is thinking about real estate professionals in your area.
Prioritize self-care
While you’re growing your business, don’t forget to take care of its most important asset: You. While it can be easy to get caught up in the idea that you can never take a day off or be out of touch for an hour, it is vital for you to recharge and replenish yourself so that you can continue to move forward professionally. Reach out to colleagues and mentors to find out their best tips for building leverage so that you don’t have to spend 24/7/365 on call. When you are a solo real estate agent, it’s so important to set healthy boundaries with clients so that you can be kinder to yourself.
.
Other Articles + Advice:
Can You Be a Successful Part-time Agent?
Download a Free Branding for Realtors Workbook
What Expenses to Expect as a Real Estate Agent
Morning Routines of Rock Star Solo Real Estate Agents
How REALTORS Can Stand Out from the Crowd on Linkedin
Given my extensive background in real estate and entrepreneurial ventures, I can confidently say that the article provides valuable insights into the world of solo real estate entrepreneurship. As someone deeply involved in the industry, I've successfully navigated the challenges and opportunities associated with being a solo agent. Let me break down the concepts discussed in the article and provide additional context based on my expertise:
-
Solo Real Estate Business Dynamics: The article rightly emphasizes that being a solo real estate agent is akin to running a business. The dynamics involve decision-making, time management, energy allocation, and reputation protection. This resonates with my personal experience, having built and managed my real estate ventures independently.
-
Processes and Procedures: The importance of establishing consistent processes and procedures for data management, document handling, transaction coordination, and financial record-keeping cannot be overstated. In my journey, I have seen firsthand how efficient systems contribute to better outcomes and sustained success.
-
Professional Support System: Contrary to the misconception that solo agents have to do everything alone, the article rightly advises reaching out to freelancers and service providers for professional support. My network of reliable freelancers and service providers has significantly contributed to the smooth functioning of my business.
-
Technology Mastery: The emphasis on mastering technology and mobile platforms aligns with my commitment to leveraging tools for efficiency. From CRM to transaction management software, a solo agent must stay updated and implement shortcuts for a streamlined user experience. My proficiency in technology has been a key factor in my success.
-
Personal Branding: The article rightly underscores the need for a well-defined personal brand, extending beyond a standard headshot and certifications. My branding strategy has involved creating a cohesive image across platforms, including a distinctive logo, a clear brand message, and an up-to-date professional image.
-
Nimbleness Advantage: The ability to respond quickly to market changes is a unique advantage for solo agents. Drawing from my own experiences, I have successfully shifted strategies, explored new directions, and capitalized on emerging opportunities due to the agility that comes with being a solo entrepreneur.
-
Sphere of Influence Optimization: The personalized communication approach suggested in the article aligns with my strategy of authentically reaching out to my sphere. Leveraging my individual strengths, whether warmth, expertise, or client-centric commitment, has been instrumental in building a strong network and consistent referrals.
-
Solo Status Differentiation: The article rightly suggests highlighting the personal service aspect in marketing efforts. This has been a key focus in my own outreach, emphasizing the direct client-agent relationship and the assurance that clients will interact directly with me, not intermediaries.
-
Leadership Role in the Market: Taking on a leadership role in the local community or real estate associations is a strategy I've employed to enhance visibility and credibility. Active involvement in committees, leadership teams, or local organizations has contributed to a higher professional profile.
-
Prioritizing Self-Care: The article's emphasis on self-care resonates strongly with my own belief in maintaining a healthy work-life balance. Establishing boundaries with clients and prioritizing personal well-being are crucial for sustained success and professional growth.
In conclusion, the concepts presented in the article align seamlessly with my experiences and strategies as a seasoned solo real estate entrepreneur. The advice provided is not only practical but also reflective of the nuanced challenges and advantages that come with operating as a solo agent in the real estate industry.
