They say that whenever you begin to build anything, ensure you start with sound and strong foundations. This principle applies when building a home, when commencing a career in real estate, and it applies when launching a new agency.
The first 90 days should set the framework to allow for rapid community recognition, set a high-impact marketing plan, and build the foundation for solid and sustainable growth. To say there are many moving parts to address, is an understatement.
Prior to a business launch, operational considerations, policies, and procedures should be in place. A proven business plan formulated and key metrics identified, such as budgeted expenses, anticipated revenue, and cash reserves. As the saying goes, if you fail to plan, you plan to fail.
Despite the increased complexity of business operations today, business owners have the advantage and ability to outsource all backend operations to third-party providers or join networks that provide full administrative support. This initial setup is instrumental to the success of new starts and should be in place well before the start date.
By doing so, from day one, full focus and resources can be directed to revenue-generating activities. That is, attracting clients, securing listings, and thereafter creating sales.
Some businesses choose soft launches, however, the best practice is to implement a high-impact 90-day strategy using a suite of marketing channels and options.
Possible marketing channels include (but not limited to):
2. Social media
3. Office website
4. Property portals
5. Direct mail – a mix of DL drops and posted mail
6. Print Advertising
9. Door knocking
10. Billboards (community and commercial)
11. Local businesses and tradespeople
12. Vendor advocacies
The above is not an exhaustive list and a common-sense approach is required when it comes to budgeting and resourcing. It’s best that each channel is evaluated on its impact and estimated return on investment.
What we have found works best is utilizing as many of the channels as possible, all at the same time and within a 90-day period from launch. We reference it as the honeymoon period and although it is a challenging high workload for such a short period, it is the momentum required to generate the fastest and most effective inbound inquiry.
As with anything worthwhile, taking massive action in the beginning, predominantly in the form of energy and effort pays dividends. It creates a snowball effect that gets the community talking about the “new kid on the block”, which in itself is the ultimate objective.
Wishing you every success in your real estate career.
Manos Findikakis is CEO & co-founder of the Eview Group