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Reflections about what I have learned growing my Real Estate Business!

Posted on Sep 8, 2013 by in Active Rain | 0 comments

Reflections about what I have learned growing my Real Estate Business

I was clicking around and found this contest on Active Rain. The question was raised:

‘What have I learned about growing my business? First let me say, what a thought provoking question.

Well not wanting to bore any of my readers, never the less, I have to give a bit of history. I started out being a Realtor on the East Coast, in Boston, MA to be specific. That was a hundred years ago when we had a Two Page Purchase Agreement and today the Purchase Agreement with all the Disclosures is thirty pages long. Now I am in Beverly Hills, CA and sixteen plus years in the local market as a Realtor.

 My first listing agreement was done over the kitchen table hand written with a “black pen” The latest listing I took two days ago was done via DocuSign in my home in a T-Shirt and Shorts (This gives you an idea that time and technology has changed a great deal over the time period.) on a side note I should have been in shorts and T-shirt 16 plus years agoJ.

I have modified my way of growing my business yearly as well as monthly and sometimes even daily. The common thread in all this was:  watching the investments and the returns on the investments, not just money, but time, effort and energy.

Over such a long period of time I have made some good as well as some bad decisions.  Initially I had to carry lots of dimes to make calls on the road; today I have a smart phone and I text, email, leave voice mails and once in a while talk to someone about the property showing. Mostly I sit in my home office and am on my laptop 12-18 hours a day depending what day it isJ.

I used to send out Post Card to my nearest base to the tune of 20,000 post cards per month. Today I send out about 1000 cards a month but I spend comparable marketing money on the various internet portals.

beverly hills luxury condominiums, Endre Barath

So getting back to the question, what have I learned?

 1. To stay positive no matter what adverse situations are in the economic, political, world and local arena.

 2. Keep up with the changes such as technology ( beeper, suitcase Motorola  phone, small cool hip mobile phone, to top of the line Blackberry Smart phone) Dell Desk Top, Dell Laptop and I could go on and on….

3. Learn from other people, peers, friends, acquaintances and even enemies…

4. The importance of keeping up with my market i.e.: what the prices, styles, activity and trends are.

5. Most importantly what I consider the ultimate tool to grow my business was and is: To provide the BEST CLIENT SERVICE individually tailored to each and every client! 

6.  I am of the belief that I never wanted to be a clock watcher, my client base is international. That email question I receive at 12:30am local time might be 9am somewhere else and the potential client does not realize the time zone differences and wants an answer now!

7. Give an honest answer to any question, sometimes this will cause a loss of a client, but in the long run it will create many long-term repeat clients who will be loyal till the end of time!

8. I always put myself in the client’s position and understand their situation. If I do not understand than I need to ask more questions.

9. Finally I always try to treat my clients as I would like to be treated: that is with honest, straight forward advice and no drama. Emotions left aside, purely factual based advice not worrying about the outcome of my advice!

 beverly hills luxury condominiums, Endre Barath

I might not make the most money and I might not have the most clients, but I sleep well knowing I do the right thing every day! This is my secret of how I grow and live  my business.

If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations

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