Leadership Roundup: Industry Professionals Reveal Secrets to Success

Do these three things in your first five years to own your market

By Taso Tsakos, Managing Partner of Engel & Völkers Danville

Discover the essential practices that can pave the way to becoming a market leader in the real estate industry. Building a strong foundation through education, networking, and local market knowledge is crucial. Focusing on client satisfaction, maintaining open communication, and providing personalized service fosters trust and loyalty. Embracing marketing and technology, such as digital strategies and automation tools, enhances visibility and attracts leads. These fundamental steps lay the groundwork for long-term success and market leadership in the real estate business. 

Learn more about these top practices and how mentorship plays a significant role in achieving success by reading the full article in Inman.

Five things to know before entering the new development market

By Stuart Siegel, Chief Strategy Officer of Engel & Völkers Americas

Did you know that it is important to educate yourself before entering the new development market? Stuart Siegel provides 5 key pieces of knowledge to keep in mind:

• Specializing in new developments requires full commitment and market specialization to become an expert in the field, necessitating continuous education and networking.

• Understanding the history of successful and failed projects in your market is crucial, as well as identifying the factors that contribute to their success or failure.

• New developments demand a different skill set, including understanding compensation models, budget management, and continuous market analysis.

• Be prepared for longer timelines in new development, as the process can take several years, requiring patience and ongoing client engagement.

• Networking and building a team of trusted experts around you is essential for success in new development, giving access to different perspectives and expertise.

Read more in this exclusive Inman article.

Four secrets to mastering client retention

By Bret Snyder, License Partner of Engel & Völkers Bozeman

Client retention is a crucial aspect of success in the real estate industry, as acquiring new clients can be significantly more expensive than keeping existing ones. This article delves into the four key secrets to mastering client retention. 

Firstly, building a referral-based business and tracking the sources of leads can create a strong base of repeat and referral business. Secondly, setting client retention goals and staying available and responsive to client’s needs is vital for cultivating lasting relationships. Thirdly, developing a protocol for nurturing client relationships with regular outreach and personal touches can keep clients engaged. Lastly, setting a higher standard of service by focusing on exceptional experiences leaves a lasting positive impression on clients and encourages them to refer your services to others.

Discover more about how you use these four strategies to ensure repeat business and foster long-term success.