And now, for something different in Real Estate!
For as long as I’ve been in Real Estate, I've resisted becoming a Real Estate Agent.
My reasoning was:
I bought out of state (well... except 2014, 2019, 2020 -- this year I could have gotten a 13K reimbursement if I had been licensed.)
I didn't like the hours (oh, but Airbnb property management is just as on call, possibly worse)
So many people do Real Estate in a cheesy way and I didn't want to feel like one of the herd (ok that one is valid).
Well, I've decided to become a Real Estate Agent! :)
Why?
During the quieter times of Covid, I finally was able to slow down enough to notice that I was getting bored. I was losing that fire and hustler passion that I had in the early days of Airbnb when things were so profitable and it was a growing and ever evolving industry. I grew up alongside the industry and as it began to flatten out and normalize, I realized I was needing something new to reignite my motivation and drive.
I've been consulting in the realms of Airbnb, Real Estate Investing, and Personal Finance for the last few years and in the process, quickly realized that I would get off a call feeling so inspired, energized and excited for that client. It was the thing that lit me up the most in all my day to day tasks. I loved building the relationship, brainstorming, streamlining finances and solving problems. The issue was that clients were irregular and I usually saw them for a session or two and then the relationship ended there.
About a month ago, with this understanding, I applied for a role as an Investment Counselor at a Real Estate Education Company that I admire. I figured that even though I would be putting aside the title of “Entrepreneur” that I proudly wore for nearly a decade, I would have an constant influx of clients interested in Real Estate whom I could connect with through their life stories, dreams and financial goals. It sounded like a blissful position. Unfortunately the company wasn't hiring when I expressed interest and it did not come together so I was back to the drawing board.
Recently, I had two sets of friends looking to buy a home. They reached out to me to get all my recommendations: my go-to agent, lender, etc, asked my advice, and invited me to tag along to showings. I am a sucker for real estate and love helping out friends so I obliged.
In the last week:
-1 set of friends have closed on a property
-My other friend is under contract
-An Airbnb client I have managed for 1.5 years put his condo up for sale
-Another friend expressed interest in a listing I posted about that came available in our townhome complex.
When I offered to come along to her showing (because heck I wanted to see the unit too!), she seemed surprised that I would take the time to tag along and I told her, "Looking at Properties is literally my favorite thing." Finally the lightbulb went off, “if it's really my favorite thing, why am I not doing it professionally?”
I realized that I could have had all the above mentioned clients as my own and sold that condo I had been managing myself, resulting in close to 50k in commissions. Sheesh, I guess I’m a slow learner sometimes. Finally, I am on track and studying away to get licensed.
STANDING OUT
During the last week, I've been thinking a lot about how I can stand out in the sea of endless realtors. How can offer something that is really needed? I think I have a pretty good idea. (I'd love to hear your thoughts and refinements).
I want to focus on helping people reach Financial Freedom through Real Estate. I’ve recently reached a million dollars in assets, a milestone I never thought I'd reach, and believe now more than ever, that Real Estate is the most efficient way to build wealth. Whether it is through buying a House Hack, an Airbnb, or starting a portfolio of turn key properties out of state. I want to provide a thorough process from start to finish, including the elements of coaching I enjoy so much, a deep dive in the clients finances and an excellent team of referrals. *
In a world where you are lucky if your agent explains the basics of the buying process over a coffee (and likely has never purchased a home personally), I think I could provide some real value, especially to budding investors. I really love the idea of helping out young or newbie investors, parents who want to help their college student find a house hack or someone who wants to transition out of a 9-5. **
I am excited to challenge myself, stretch and grow through this new venture. Fellow realtors love to tell me that the first 1-5 years are painful and yet I am hoping to rise above that norm and have fun with it. I believe that if I put out an offering that is heart-centered and people focused rather than deal or money driven, I will succeed. It's a risk, but I'm up for the challenge!
*Let me know if you would like to schedule a free 15min consultation to see if we might be a good fit to work together.
**Thank you in advance for your referrals.
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Upcoming Events (See me Speak Live!):
Financial Freedom Summit - This event moved to Sept 29-30th, Long Beach, CA
Bigger Pockets Conference - Oct 5-6th, 2021. New Orleans
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