Big questions cloud decision to start own brokerage or join existing one

I don't need to recreate the wheel -- I just need do it better

The response to my first article both publicly and privately has been more than I ever imagined. Thank you for the encouragement, the words of wisdom and insight. I have catalogued all of them, and when this task seems daunting, I reread them and press on toward the goal.

My progress is moving forward as I get back into the selling real estate full time. I’m reading page after page of California real estate principles and laws. Let me just say learning California principles and laws is different than any other state where I have had a license. It makes me wonder how the states and their requirements can be so different. It is almost concerning — in some states it is 40 hours and others it’s 160 hours. I’m sure that is another post for another day.

Things to do
Things to do image via Shutterstock.

Where I am now in the process of getting back to selling real estate

I am still dedicated to meeting 100 people a day. Because you asked, here’s why:
First, it is more of a mindset than a goal of having to meet 100 people a day. We live in a world full of technology that a lot of times takes us away from the human interaction.

Secondly, I want to impact as many lives as I can everyday. People really want to know that someone else cares. Sometimes all they need is a smile. I am happy to talk to anyone and hear their life story. I am not doing it just to add people to my database, but I do it to be the connector. I want to be the resource for everyone who needs an introduction.

A quick story about an introduction: I fly a lot and sat next to a lady in the human resources field. We had three hours to chat about work and life. I left with her business card. I firmly believe in giving a business card to get a business card. Anyways, I emailed her and an existing friend who is in the HR field and said they should meet. I didn’t know that my friend was trying to reach this lady for several weeks! Now that I made the connection, they became friends, and a few months later their firms merged.

It has been said that the more people you help get what they want, the more you will get what you want. I come from a place of giving; yes, some of them will turn into deals and others may only brighten someone’s day.

Many of you said I am my own brand and yes that is true. That, however, does not provide infrastructure or support for creating a strong business. We need people to manage and facilitate our business. I am a firm believer in being a master of my craft and not a jack of all trades. I want to stick to what I do best: meeting people and negotiating deals.

I have been driving and mapping neighborhoods:
I’m going to 12 open houses every Sunday in those neighborhoods. I am taking copious notes on what agents are doing. I am collecting their collateral. I am even signing in with my real information to see what kind of follow-up there is. Out of 12 open houses last weekend, I had only one follow-up drip email.

I have been Googling and looking at the market and places where my competition spend their marketing dollars. I do this because it allows me to improve on what they are doing so I can see local market trends. I don’t need to recreate the wheel. I just need do it better.

I’m still deciding if I should start my own company or join an existing company:
I wrote out a list of questions and positive and negatives of doing one or the other. I am still in the process of deciding. I am being encouraged to take a real hard look at myself and my flaws, so that I can find the best fit for my success. It is important to get very real with yourself, and set your ego aside.

I would encourage you to find people in your life who will call you out and challenge you. Iron sharpens iron, and I do not want to be mediocre. So I am still deciding and with 22 days and counting till my license, I have a lot to do. This is an amazing process and I am honored to do it with many of you.

Four questions that I’m still pondering:

1. What is the value proposition of the brokerages I’m interviewing with?
2. If I could put a face on my potential client, what would it look like, and does going with a known brand matter to them?
3. Does the office environment allow me to excel? Who are the agents? Is the technology stuck in 2007? Is there training that will help me or is it focused on the beginner and midtier agents?
4. Does this company move and innovate like a speedboat or the Titanic?

Aaron Woodman has over a decade of real estate sales experience as both an agent and a managing broker/owner, and most recently as a consultant for residential brokers, property management firms and real estate technology startups.


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