Three Keys to Success in Real Estate
At the 2024 New York ICSC, I had the pleasure of speaking with a young, aspiring real estate professional. They posed a question that really resonated with me:
“What would you say are the three most important areas of focus to be successful in this business?”
This is such a great question because success in real estate is multi-faceted—it requires skill, determination, and a focus on the right priorities. Here are the three key areas I emphasized during our conversation:
1. Relationships and Networking
At its core, real estate is a relationship-driven business. Success comes from building meaningful connections and treating people with respect, care, and integrity. The philosophy of “Go-Giving” is especially powerful here (reach out if you’re unfamiliar—I’d love to share more). It’s about creating value for others without expecting immediate returns.
While networking is often framed as “who you know,” I believe it’s equally about “how you treat the people you know“. Show genuine interest in others, listen more than you speak, and look for ways to help. Whether it’s sharing a useful resource, connecting someone with an opportunity, or simply being a reliable presence, these small actions build trust and goodwill over time.
Keep a detailed database of your contacts. Include notes about where you met, what you discussed, and any follow-up opportunities. Use this as a foundation to nurture relationships consistently.
2. Knowledge: Preparation is Key
In real estate, knowledge truly is power. The more you know, the more confident and credible you appear. This starts with doing your homework—whether it’s researching a property, understanding market trends, or learning about a client’s unique needs.
Before any meeting or site tour, take the time to prepare thoroughly. Look into the property’s history, nearby developments, zoning regulations, and comparable properties. If you’re meeting with a client, study their business or personal needs. Showing up prepared demonstrates professionalism and positions you as someone who takes their work seriously.
Another crucial element is self-education. The most impressive professionals are those who proactively seek out information and insights. Whether it’s through books, webinars, podcasts, or mentorship, never stop learning. And remember: it’s not just about having the answers but also about knowing how to ask the right questions.
Prepare a set of thoughtful, open-ended questions for every interaction. It not only shows initiative but also helps you gather critical information that can inform your strategy.
3. Follow-Up “FU” is Everything
This is perhaps the most underrated yet essential skill in real estate. A well-crafted follow-up strategy is what keeps you on people’s radar and builds long-term trust. After every meeting, networking event, or convention, take detailed notes about the people you met, what you discussed, and any action items. Then, follow up promptly and meaningfully.
A simple “It was great meeting you” email is a start, but go deeper. Reference something specific from your conversation or provide a resource that might be helpful. These small touches show that you were truly engaged and invested in the connection.
For larger events, set aside time to organize your contacts and create a structured follow-up plan. Reach out within a week to reinforce the relationship while it’s fresh. From there, maintain regular touchpoints—whether it’s a quick email, a call, or even sharing industry insights that might interest them.
Treat follow-up like a system. Use a CRM (Customer Relationship Management) tool to track your interactions and set reminders for future check-ins. Consistency is what separates professionals who fade from memory and those who stay top of mind.
Schuckman’s Final Thoughts
Real estate is an industry full of opportunity, but it rewards those who are willing to put in the effort and focus on the right priorities. By building meaningful relationships, staying prepared, and mastering the art of follow-up, you’ll not only stand out but also create a strong foundation for long-term success.
It’s always inspiring to see new professionals eager to learn and grow. This industry is constantly evolving, and there’s so much to gain for those who approach it with passion and dedication.
What about you? Are there specific areas you focus on to succeed in your business? Let me know—I’d love to hear your thoughts!
By: Kenneth R. Schuckman