Starting a business is hard enough, but bringing a real estate agency to life is a pretty difficult undertaking. When jumping into this field, you’ll probably want to work with a partner. If you’re on the hunt for a business associate who will help your agency thrive, here are four qualities to look for.
A Background in the Field
Working with a partner who knows the industry and is familiar with buying and selling property can seriously improve your chances of success. If possible, work with someone who’s more experienced than you. They don’t necessarily need to be as seasoned in the field as Stefan Soloviev, but it helps if they’re already comfortable with the job at hand.
Good Communication Skills
As business partners, you two will be communicating about everything. From scheduling showings and consulting with contractors to running marketing campaigns, you and your partner should stay on the same page. Your partner should have a professional, respectful attitude and be able to keep cool when things are tense. Likewise, he or she should be honest and trustworthy enough to handle all aspects of the business. Remember: Respect given is respect earned, so you should also be a strong communicator.
Solid Understanding of Cash Flow
A business is supposed to help you make a living out of your passion. If your partner doesn’t understand how to balance profit and loss, your agency may end up losing income over time. You and your partner should know how to find quality properties, negotiate prices and secure sales. The more experience either of you has, the more likely you are to foresee issues ahead of time and prepare accordingly.
Above almost everything else, quality real estate partners should be passionate about what they do. This is the industry of helping people find places to start businesses and families, and it takes ambition and enthusiasm to build a good reputation. When your partner is as excited to get out there and make a sale as you are, you’re more likely to connect and work efficiently together.
Starting a real estate business can be a lengthy endeavor, but a good partner can make all the difference. Remember to maintain a positive outlook, keep an open mind and don’t be afraid to speak up if you have an issue with things your partner is doing. With these tips in mind, you two will be on your way to creating a successful career.