Editor’s Note: The Rainmakers Group will work alongside the RISMedia team to share pragmatic industry insights into building your personal and professional wealth in 2020. Throughout the year, the Rainmakers Group will “cut through the noise” to explore and share new business opportunities that will help drive your bottom line to new heights.
Just to be perfectly clear—the Rainmaker in 2020 is YOU!
As we are officially roaring into 2020, the pundits have spoken. The good news is that interest rates most likely will remain low, the economy is strong and homeowners need the “personal touch” of a real estate professional more than ever. The headlines that should be on your radar: the inventory crunch continues; commissions will get squeezed a little harder; iBuyers will continue to make headlines; and the ROI for the latest shiny tech products will be as confusing as ever.
But there are more than 35 trillion reasons why you should be paying attention at the dawn of this decade. That was the combined U.S. housing market value in 2019, and the real estate transaction is at the center of it all.
Throughout the year, this column will share the DNA of the Rainmakers—those top thought leaders who are “bringing it” in real estate, mortgage, title, insurance, lead generation and data mining. But let me kick things off with a bit of personal history. As a wise man by the name of Confucius said, “Study the past if you would define the future.”
So, here’s the scene: New York City, Oct. 2, 2013. The New York Stock Exchange (NYSE)—the mecca of business institutions. Rockefeller, Carnegie and Ford all stood within these hallowed halls to figuratively grab the “brass ring” and literally hear music to their ears as they rang the fabled bell.
We were staring up in awe at the massive pillars that grace the iconic NYSE on Wall Street. RE/MAX Founder Dave Liniger and a small team were coming off a long road show, ready to launch the company’s IPO. This was surely going to be a surreal experience. Something to tell the grandkids. A defining moment of clarity about the pillars of business that the greats had mastered generations before us.
And, lo and behold, it happened! The elusive “pillars of success” were revealed. Those that led individuals and corporations to the holy grail of their professions are:
- A strong brand
- Unique products or services
- Dominant marketshare
- Commitment to education
- Purchasing power
As a real estate agent, broker, team member and business entrepreneur, mastering these pillars to success is the path to your personal success in 2020.
YOU must build and honor your personal and professional brand. It is the promise you make to your customers.
YOU must be unique, a “knowledge broker,” an exceptional service-aholic.
YOU must TAKE marketshare in your local area. Referrals, leads, listings and closings are your lifeblood.
YOU must remain curious and dedicated to personal and professional education.
YOU must build purchasing power. Invest wisely in yourself and your profession.
The dawning of a new decade is upon us. Real estate, like the weather, is local, but paying attention to the national forecast is essential.
To get you started, here are our recommended “Rainmaker Reads.” Enjoy, be a Rainmaker, and share these insights with your team, customers and friends.
Mike Ryan is a partner with the Rainmakers Group, an advisory firm serving the real estate and settlement service industries with global insight, talent and technology.