Starting out in any new business is tough.
When I opened my first real estate office in the regional Queensland town of Gladstone at the prime age of 23, Underdog was the label that followed me around for those first few years in business.
We had stepped into the snake pit of established agents in a small city where nobody knew who we were (aside from some old friends of my family whom barely even remembered me).
I grew up in Gladstone and my family moved to Brisbane when I was 9, so I was familiar with the landscape of the city, but I had zero contacts.
Why did we decide to open a real estate office in Gladstone?
Two words - Comalco boom. (google it)
And yes, we rode the wave for around 5 years and then exited. That’s the long and the short of the story, but coming back to my underdog status, it’s fascinating to reflect on how I navigated those first few years as a newbie in business AND the new kid on the real estate block.
Whether you’re just starting out in real estate or have been in the industry a few years, winning business or securing new clients is always going to be high on the priority list because without clients or new listings, you don’t really have a real estate business.
For me, I took the underdog title by the horns and leaned into it. Rather than compete with the other agents on time in the game and years of experience, our office took a fresh approach to real estate, or at least that’s the slogan we used at the time.
New. Fresh. Something to prove.
These were all terms I channelled into our marketing efforts in a bid to win over local sellers who were tired of the same old agents who had worked the city for years before us.
It wasn’t long before I realised this underdog position wasn’t so bad after all, and I could really leverage it to my advantage.
Sellers enjoyed a fresh face in the industry and when we started getting some results (aka - sales) it wasn’t long before the community began to embrace the young couple in their twenties who had just started a new real estate business.
So how did we do it?
How did we play that underdog card to become a success in just a few short years?
Well, I have to admit - we did have an impending property boom on our side which undoubtedly helped our cause, but I don’t want to put it down to just pure luck.
We still had to win the business.
Here are some points from my playbook back then.
Tell them you have something to prove.
Sellers want an agent who is hardworking and going to go the extra mile for them to secure the best possible price for their home. I would explain that being new in business, we were determined to do exactly that. We had something to prove. If our business was going to survive and thrive, we needed to go over and beyond for our clients. People really bought into this.
2. Focus on Building Rapport.
Rather than leading with a sales pitch, I would always do my best to find commonalities with my clients and move my focus more on building rapport with this person, rather than hammering a scripted sales pitch down their throat. The aim was to make them feel comfortable enough so we could establish trust. Once you have trust, and they like you, you’re all but in the door.
3. Ramp-Up The Marketing Effort
When you’re new, you need to make a splash. An impact of some sort. That means marketing. We knew we needed to get our names and faces out into the community and so we invested heavily in brand awareness and marketing the moment we opened the doors. Back in those days, social media was non-existent so we leaned on those traditional advertising mediums like radio, billboards, newspaper and signage to push our brand out into the world. Nowadays, agents have the superpowers of social media marketing and if Facebook and Instagram existed back then, I would have been running ads directed at local sellers. Linked In is also where I would be hanging out regularly.
4. Establish Referral Partnerships
I joined the Sunrise Rotary Group, a local gym and a social netball team, and all of these led to new business. Getting out into the community, meeting other small business owners and establishing referral networks worked a treat when it came to getting a foot in the door to more homes and more potential sellers.
The underdog status doesn’t last long if you put in the effort and do the work to establish yourself as a firm identity in your service area.
Of course, you need to get those invaluable runs on the board, but if you’re doing all the right things and making strategic moves, this will follow, and it won’t be long before you’re winning business off your experience and results.
We all have to start somewhere, and remember, sellers are everyday human beings just like you and I, and they too will probably remember a time when they were the underdog in some respect. This is the commonality you share in the beginning, so play this hand and see where it leads you.
Right now, my Masterclass students are learning all about Setting up Strategic Referral Partnerships in my Masterclass for Women in Real Estate.
I have shared a Checklist of my Top Referral Partner Businesses for Real Estate Agents in the Member’s Only Journal for WENDYRUSSELL Institute members to access.
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MEET THE WRITER
Hi. I’m Wendy.
I’m a storytelling writer, champagne lover and Luxury Buyer’s Agent based in Brisbane Australia. I write about real estate life and my journey as a self-made career woman.
Wendy Russell is a Luxury Buyer’s Agent, social introvert and self-made career woman on a mission to help you build your empire. It starts here.
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