Being a realtor without investors on board is a very tough job. Though one may survive without investors on board to unlock true potential of real estate market you must have to make a portfolio of investors on board with you. Being the most expensive and ever in demand commodity, real estate requires bulk of investments and one with family funds will also need to do lot of footwork to bring some investors on board with him (er).
Classes, Training , exams, knowledge of local laws, hospitality are one of a few pre requisites to acquire a realtor license in developed world and will need to follow the code of conduct to carry on with. Once acquired, you can expect a luxuries life their even if no investors are on board with you. Every real estate transection needs to be executed through a realtor office that cannot be bypassed by any means but here in Pakistan, the situation is quite different. No training, no proper license, no training or other entry barriers are there to be a real estate agent but you will need investors on board with you for seamless operations.
Our article how to find investors for a real estate office will guide you to find and bring investors on board. You can also go through How to be a successful realtor for more details
1. Be a professional realtor
Knowledge is the key to professionalism and to be a professional realtor you need to invest in yourself with the market knowledge, due diligence, negotiations and a trust worthy network to get latest information about the deal, neighborhoods, other party , agents involved , the offered property, local laws and expected trends. Remember no one will trust you with your entire investment if you haven’t invested in yourself.
2. Brand yourself
Look, dress and act like a professional and successful realtor and gradually turn yourself in a brand that can be trusted. With your field experience you will need a designer to make logo, select branding colors and make branding kit for you that can be marketed through different marketing means. You will also need to have share a clear vision, goals and your offered services with your customers. Being a brand with acquired credibility takes times and efforts of every moment but returns you with a built-in trust. Agent finder of Michni helps you manage your profile and to advertise your portfolio for sales leads. You can ask your digital manager to market your page on a real estate portal showing your profile, portfolio, team, a contact form and messaging system to your customer to reach you in general or for a specific property.
3. Be connected
Be in touch with your current investors and keep pitching your portfolio to your potential investors. This will help you building personal relations with them, retaining the old and adding up the new ones. Prioritize your visits to property exhibitions, association meetings, chamber of commerce meetings and Islamabad Club. Introduce yourself and pitch a bit on such events where they are in lighter mood and ready to listen. The best tip should be to spice up your night life, often throw a d attend parties and move in places where you can find them. Read our article How to be a success realtor for more details.
4. Honey Trap Investors
Honey trap investors with off the market real estate deals or offer their acquired deals on open real estate market. Off the market deals is the exclusive portfolio that is not available on open market and not known to everyone. Off the market deals are more promising and thus attracts investors like a honey trap.
5. Pitch your portfolio to investors
Do not mix investors pitch with the one you prepared for your customers neither open your exclusive portfolio to them. The exclusive portfolio should be for investors only and once bought should be offered in open real estate market for customers and as per instructions of your investors. Work hard on your investors pitch, make it rationale and keep the ROI to minimum in initial pitch. You can enlist your investor’s properties on open real estate market through Michni.
6. Affiliations & membership that matters
To sound like a successful realtor invest yourself with knowledge, wear branded perfumes and accessories; select location and staffing with care and décor your premises by an interior designer. This self-investment will give you looks of a successful realtor and grab the walk-ins. Get memberships and affiliations of the bodies where your potential investors and customer use to spend time in relaxed mood. Islamabad Club, Karachi Gym Khanna, Chamber of Commerce, Investment regulatory bodies, CDA , real estate agents membership and join online portals e.g. Michni that will be helping you to enlist your properties, connect with investors, advertise, Surveys, sales leads and to avail many other exclusive services like property documents verification, be a premier agent or reseller engine for additional revenues.
If success is a process with a number of defined steps, then it is just like any other process. So, what is the first step in any process?