6 Bootstrapping Ideas For Realtors On Turning Their $300 Licensing Fee Into Millions
6 ways to go from starting in real estate to having sold millions. These bootstrapping tips are taken from experts in order to help you succeed now.
Have you ever seen that TV show called Shark Tank? It’s all about taking new businesses from zero to millions through investing and smart business practices. As a new agent, building a business from scratch can seem daunting. So here are 6 bootstrapping ideas for realtors to get you started:
If not, basically these billionaire investors interview startups and give some of them money. These startups have the craziest products and services! For example, the Uroclub was this golf club that you could “urinate” into if you had to go on the course. Crazy, right?
Well, the truth is that these people get millions of dollars of “Run Way” money in order to get these businesses off the ground. Unfortunately, most Realtors simply don’t have this luxury. In fact: Most Realtors go months without a paycheck while they are starting out. (source)
This means Realtors must get really freaking good at bootstrapping. So without further ado and more talk about Uroclubs, here are the top 6 Bootstrapping ideas for Realtors looking to turn that $300-500 licensing investment into millions:
PS: The term seems to have originated from the US around the 19th century and comes from the someone literally using their bootstraps to pull themselves over a 15 ft fence. (source)
Click hereto download these awesome tips. (You can print the PDF too!)
The first rule of bootstrapping is to spend as little as possible. What this doesn’t mean is doing as little as possible. You need to be doing as much as possible with less. (Ok, I’ll stop saying the word possible.) The cool thing about this is that blogging, content, and social media let you spread the word far and wide.
You can start a blog and website that will last your entire career for under $4.00 a month. Four dollars! My wife’s drink at Starbucks costs more than that…
Don’t just take my word for it:
Bill Gassett, who sells real estate in Massachutsets swears by social, content, and being found online. These are all things you can do to start your business headed in the right direction. Here is a link that gives you a step-by-step tutorial on how to start your blog for under $4.00 a month:
PS: You can then take our FREE Real Estate Website Marketing Course to learn how to use it!
It’s easy to go into debt with your new business especially after first commission check. The world of entreperneurship, real estate, and 1st year businesses is volitile. You now are living on variable income. That means a new office computer or hiring a marketing team maybe should wait until you are more established.
Most startups that I’ve seen in the past 3 years require so little capital! The internet and digital communication make it so easy to turn your smart phone or table into a scanner. You can skip the deluxe multi scanner, printer, fax machine and probably just use a free app on your phone for now.
The most successful businesses make the most of what is most readily avaialble to them. Use what you have to make everything happen. Especially during the first year…
Sure, books like the Millionaire Real Estate Agent by Gary Keller spell out exactly what to do down to the last phone call. That makes it easy. But easy does not mean less work. It just means you don’t have to reinvent the wheel for what will work. When you start out, you won’t have an admin or a team. You will have to make up for all of that with extra sweat.
You’ll probably need to put in longer days than you are used to and there will be a lot of college-like “all-nighters” in the beginning. Eventually, these things will diminish. But be prepared for them at first.
There are tons of proven scripts, formulas, and followup systems that will help you get your first several sales. These systems were developed after years of testing, millions of dollars, lifetimes spent in real estate. I’m all for being creative. But, make money doing the stuff that unanimously works before moving onto something that is less proven.
Need to know where to start? This post will show you How to get started in real estate:
It walks you through the step by step processes recommended by the best in the business. There are examples of 33 touch, and the first scripts you should use when calling your initial contacts.
My favorite phrase is: “Take Massive Action.” There is a huge difference between thinking it and doing it. This will NEVER be more apparent to you than when you start out in real estate. Ideas are now next to useless to you. What you do with the ideas is how you build your fortune. If you need inspiration, here’s a great Tony Robbins video. He explains this stuff way better than me:
Be sure to take tons of action your first day, month, and year in real estate. Fail! Give yourself tons of opportunities to straightup fail. At Easy Agent Pro, we try to fail 4 times a day. Why? Because we’ve calculated that it takes about 84 failures to have 16 massively successful campaigns. Your business will never be “perfect.” Just never stop trying to make things happen. That’s what perfection is as a real estate agent.
Money will not make you happier. Sure, a certain amount will make you comfortable. But embrace this time of your life. While starting out in real estate, you have a massive excuse to not have tons of money. Take that excuse. Find ways to be happy without money.
Besides, you’ll have an even better story to tell your kids if you can talk to them about how hard it was to get started. 😉 Success comes to those who want it and are willing to go through the pain to get it. Never stop working towards your goals.
What tips do you find useful for starting out in real estate? I’d love to hear your comments below! Or you can email them to me at tyler @ easyagentpro .com. Or just use the “Ask me anything” button below.
Talk with you soon!
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