Starting a business is always a challenge for women because gender bias is still a reality, despite everyone speaking about equal opportunities. You can expect things to be more daunting if you choose a male-dominant industry such as real estate. Achieving success as women in real estate leader will be as hard as breaking the glass ceiling. But it isn’t an impossible feat because many women have made it big in the industry.
The real estate landscape beckons female entrepreneurs not only because it offers an opportunity to attain financial independence. Women find the journey inspiring because they help people to find their homes. The thought instills a closer to heart feeling for the female gender.
Right now, you can find successful women leaders in real estate because they have come a long way to change the traditional mindset. Here are some lessons they share with others aspiring to build successful careers in the domain.
Start with an Optimistic Mindset
Women entrepreneurs often end up struggling in male-dominated domains because they lose their motivation down the line. It can happen easily when you see people trying to discourage you and get you out of the way. But starting with an optimistic mindset and adhering to it throughout sets you up for success.
Focus on things you can control rather than worrying about those you cannot control. Keep a close eye on the market and seize every opportunity as it comes.
You will probably face setbacks and failures during the journey, but don’t let them dissuade you from doing your best. Like any other business, real estate is also about perseverance, and you will surely succeed if you stay strong.
Visualize Yourself as a Small Business
It is easy to believe that you are only a real estate agent, and most people in the industry will want you to stick to the mindset. But you must overcome the misconception and visualize yourself as a small business.
Agents work as independent contractors, and it means that you are a business, not an employee. The best thing about this role is that you have control of your growth trajectory and long-term goals.
Think like a business right from the start, and focus on building relationships and learning more about marketing. Going the extra mile early will give you a competitive advantage and make clients stick with you for the long haul.
Have a Business Plan in Place
Once you start seeing yourself as a business owner, it makes sense to have a business plan that defines your roadmap and vision for the long term. While getting clients will be the core focus, you cannot overlook the key organizing and planning tasks.
Invest time in researching and understanding the market landscape and customer expectations. Pick factors that set you apart from others in the industry. You need to give the potential clients very strong reasons to choose you over the male counterparts because winning their trust as a woman will be the biggest challenge.
Invest in the right skills and tools to keep pace with others. For example, staying ahead with NAVIS training platforms will give you an advantage. Keep track of the industry trends and have a plan to embrace them while your business grows.
Think Beyond Selling
A real estate agent is a salesperson, but you need to think beyond only selling when it comes to interacting with prospective clients. Hard selling does not blend with a female personality, so consider stepping away from the stereotype of a pushy real estate agent who only wants to close the deal at the earliest.
Invest in skills like copywriting and photography and showcase them while listing options for the clients. Play the role of a property wealth planner and a consultant instead of being a salesperson. The mindset will set you apart and consolidate your reputation as a value-adding provider.
Go the Extra Mile with Networking
Good networking serves as a foundation of successful businesses, so if you are looking to grow in the real estate landscape. You have to look for opportunities at the right places and right time and pick them before anyone else does.
It is possible only if you have a strong network of connections in the domain. Seek out mentors who can show you the way because the territory is relatively uncharted for female entrepreneurs. Look for like-minded women facing the same challenges and support each other to carve a niche for females in the industry.
The industry is dynamic, and trends and prices tend to change without a moment’s notice. It may sound daunting when you just start, but you can easily pick the game with an adaptable approach.
Women find it easy to adapt because they are good at multitasking and have the ability to think out of the box solutions to the most unusual problems. Be open to embracing innovation as it can keep your business on track. For example, agents who can show properties virtually are going strong amid the pandemic.
Similarly, you must also stay on track with the latest laws and regulations so that you can guide the clients to make the right decisions.
Manage Your Budget
Women are good at managing money, so running your business within budget shouldn’t be a problem. Even as you may be happy with early successes, keep your spending in check.
You may have to wait long between deals, and it can get hard to maintain the cash flow during the lean periods. Keep an eye on business expenses right from the start and look for ways to cut down the unnecessary ones. Create a financial cushion for a slow period, and you will be a lot more comfortable.
Success in the real estate domain has nothing to do with your gender. It is about understanding the industry and making the right moves to capture opportunities before anyone else gets them. Focus on building a reputation, and you will surely have the clients coming back and bringing more business.