HRI's Real Estate Business Update

                             

Whenever I met a friend, the question to me is always how's business so far? The closest I got to closing a deal was the one that I have described in my previous post.

As a realtor, I have a few ways to collect cold leads.

1. Digital Marketing

2. Hardcopy flyers

3. Attending roadshow

4. Knocking on doors

My division's modus operandi is digital marketing, thus naturally I follow suit.

2 years ago (recently there's 1 more), there was an article about realtor's earnings. The writer spent $1,300 per month for 3 months and concluded that it doesnt work out for him. If only he persevered through 2021, it could have made a big difference. Looking at my team mates' earning, a lot of them started bringing in the big bucks in 2021, 1 year after CB, but travel restrictions were still in place.

Unfortunately, I might have joined the industry in the worst timing ever. With rising interest rates and all. That really put people off in buying expensive properties.

As for my business expenses, after spending around $2.3k in 1.5 months, what did I get? I collected around 40 leads (close to 60 dollars per lead, which is bloody expensive compared to 2021). Mostly collected in October. It's been very quiet since the start of November.

Sometimes I do wonder if this is sustainable. I call this the rookie's self doubt. I took comfort that I was really close to a 6 digit commission deal as mentioned in the previous post. That would have covered my advertising cost many times over. I do understand that this dry patch may continue for the next 6 months or even more.

As the projects I market are only going to be launched in 2023, I don't know if anyone of them will actually come through.

I give myself a year , and if it doesnt work out, at least I have tried and I can go back to my FIRE mode.

Very tempting fall back plan. 😂