8 Tips to Setting up Your Real Estate Business in a New Town

The key to any successful business is a steady customer base. All real estate agents rely on this concept and their careers typically begin with building it up with friends and family.

But what happens when you move to a new city or state without any nearby friends or relatives to fill the pipeline? In a place where you don’t know a soul, how do you successfully get your business up and running?

Whether you’re a rookie or an old-timer, establishing a practice takes a lot of time and it all starts with a plan.

  1. Get a Warm Start

Everyone knows warm calling is so much better than cold calling. Before shutting down your current business, make sure to call some of your former clients and ask if they have any connections in the town you’ll be relocating to. You’ll be surprise how powerful leveraging your existing network can be!

  1. Back to Basics

Allow yourself to be nostalgic for a minute and think back at your rookie days. Were there any methods you used in the beginning of your career that worked—if only a little? Door-knocking may not seem very appealing, but if it helped get you clients once—chances are good that it will again. The same applies to cold calling. Did it work before? Put it in your plan.

Painful? Yes, but just remember that this wouldn’t be an ongoing chore, only something you have to do long enough to kick-start your business.

  1. Stay Social & Up-to-Date

As soon as possible, make sure that everything on your website is up-to-date. Remove information about your old location and start publishing content about your new city.

Update all your social media profiles to make sure that anyone who follows you is notified about your move. In meeting with new people, encourage them to connect with you on LinkedIn, Facebook, and any other social media platform you use.

  1. Build Your Brand

In order to differentiate your business from all the other real estate agents in town, you have to peacock yourself. Be sure to study your competitors and familiarize yourself with their ways. Then, make a decision to brand yourself differently!

  1. Explore Your New City

As long as you’re new in town, you’ll hardly be viewed as the neighborhood expert. Speed up the initiation process by dedicating your time off to playing tourist.  Familiarize yourself with the different neighborhoods and—most importantly—the homes within.

Go on property tours to get a better understanding of the market value in the area. Bring your camera and capture your favorite spots. Write something about it and share your experiences along with the pictures on your blog.

  1. Buy Leads

No real estate agents like to pay for things connected to their business. When relocating to a new town, however, buying leads from a company like Market Leader might provide just the right kick you need to get business going. Get your hands on a few of leads and build from there.

“Once you have these leads,” says Jun Choo, Market Leader’s general manager of advertising, “don’t expect them to magically move through the funnel, and don’t expect them to move through it on your timetable. If you concentrate on converting them, you’ll most likely have more than one eventually come through, and, for each of those, you’re in the money,” he claims.

  1. Get Involved

Involve yourself in a community organization! Whether you’re passionate about animal rescue, homeless services or civic club sports, participating in any activity related to your new community is a great opportunity for you to connect with people from the area,

  1. Adjust Your Expectations

If you’re relocating to an area considerably less expensive than your current one, chances are high that you’ll be making less money. Be sure to alter your expectation to avoid getting disappointed.

Don’t be too hard on yourself if things don’t immediately go your way. Success doesn’t come overnight. Getting a business up and running takes time so be sure to allow yourself a couple of months.

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  • The_Grass_Is_Greener

    Warm calling. Can’t do enough of that. I think maintaining a solid relationship with a past client goes much further than people give credit.

  • Lucas McMillan

    Great info