March is Marketing and Branding Month here at Inman. As we enter spring selling season, let’s explore which tried-and-true tactics and cutting-edge innovations are getting deals done in today’s market. We’ll also recognize the industry’s marketing and branding leaders with Inman’s Marketing All-Star Awards.
Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
Many of the most inspiring stories in real estate are tales of bootstrapping. Industry heavyweights, such as Jordan Cohen, Quintavius Burdette and Barbara Corcoran, all have backstories that involve getting out and door knocking, cold calling, hand-shaking and building big businesses from the ground up.
Now, we’re seeing the forces of industry compression through mergers and acquisitions shrinking the industry as a whole and, simultaneously, making it harder for independent figures and companies to break through. Rocket’s acquisition of Redfin, Keller Williams’ investment infusion from Stone Point Capital, small brokerage consolidation and M&A, the growth of the teamerage model — it’s tough out there for a solo entrepreneur to create leverage.
Last week, we asked you to tell us what you’re seeing now: Is it still possible to bootstrap a real estate business in today’s environment? Here’s what you had to say:
- Yes, Everyone has a SOI, that’s were you start and go from there! Building relationships face-to-face!
- Yes
- Yes, absolutely! In 2023, after 24 years in the business as an agent running a large team, I decided to purchase a commercial building and opened a RE/MAX franchise. Two and a half years later, in a contracting market, we have grown from 20 agents to nearly 100 and opened two additional offices! Oh, we also grew our business from $170 million to over $315 million in sales! The best thing about it is that we BOOTSTRAPPED IT ALL!
- Y
- Yes, but they need some market advantage (such as a very clear niche) and the discipline to create processes and systems. Without the latter, scaling will not be possible.
What did we miss? Please share your thoughts in the comments section below.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
