Concierge Auctions’ luxury real estate conference, The Key 2012, in Las Vegas was a ‘full house’ of ‘high rollers!’ We enjoyed catching up with both old friends and new over cocktails, dinners, and yes, poker tables… in addition to hearing great business advice and inspirational tid-bits from the speakers and panelists.
We were thrilled to host Bill Rancic as the keynote speaker. Some of you may know Bill as the first winner of The Apprentice. Others may know him as a serial entrepreneur. Bill started his first business at the ripe age of 10, selling pancakes to his grandmother’s friends. He later went on to other successful startups, including his launch of the first ever cigar-of-the-month club while in college, before appearing on The Apprentice.
Bill’s first job for Donald Trump? Project Managing the construction of a high-rise building, his first foray into real estate development. He has since gone on to invest in and manage a number of property ventures. His real estate chops and know-how are a proven commodity and a reason we asked him to keynote our first edition of The Key luxury real estate conference.
Many agents and brokers approach real estate sales in the same way it has been done for years — place sign in front of the house, and wait for buyers to come calling. Bill’s entrepreneurial approach to real estate is different and parallel to our outlook at Concierge Auctions. We don’t want to sell homes the same way our grandparents did it. We want to…. Do things differently. Be Innovative. Reach buyers and sellers proactively. Offer luxury clients the utmost service they expect and deserve.
Here are some takeaways from Bill’s speech, particularly on why real estate salespeople should take an entrepreneurial approach to selling high-end homes:
“Highly successful entrepreneurs are good decision makers, they are creative, and they never quit or make excuses.” Our business at Concierge is fast-paced. We must be decisive and turn on a dime in order to meet deadlines and keep things moving ahead, all while being more creative, more ingenious, and more innovative than ever before. When the timeline is short, there’s no room for errors or excuses. There’s no giving up. We have to be not only ‘on time’ but also ‘on’ — all the time.
“Agility is probably the best trait that you can bring to the real estate business.” Real estate markets change from month to month, day to day. Successful agents are nimble and transform their strategies to conform to the times. Every agent we partner with at Concierge possess this trait. They understand that with the changing times, they need more and better options to offer their clients. The Concierge auction process is one added tool that savvy agents can offer to their most motivated sellers of unique properties.
“Great business owners are like conductors, they know how to conduct their employees and let them do their job,” and ”I was never very smart, so I knew that I had to partner with smart people and have smart people around me.” The Concierge team has grown from 3 to 30 in a matter of four years. There is no way we would be enjoying the success we have today without the expertise of the team around us. Our sales and marketing staff, administrative team, and agent partners each play their own unique part. Every new employee is hired for his/her unique talents, and we strive not to control their every task but rather to enable them to shine in their own right. Only then does innovation thrive.
“People that aren’t successful in business are reactive rather than proactive.” So, so true! When we founded Concierge, we saw the writing on the walls: real estate inventory rising, buyers declining, recession ahead. We started the firm in an effort to assist our luxury sellers who wanted to obtain a fair price quickly and move on. We were ahead of our time, but it worked. Similarly, brokers and agents need to feel the pulse of their marketplace daily, weekly, monthly. Use your instincts, and steer in the direction of success. Try new things. Don’t be afraid to fail. Those who sit back and wait — who only change when they are forced to … when it is obvious — will never march at the front of the line.
Bill Rancic’s keynote highlighted something I’ve known for years: Entrepreneurship and real estate go hand and hand. In a market that is ever-changing, new ideas are always king.
How do you think Entrepreneurship and Real Estate relate? Leave us a comment or visit our You Tube page to view the whole video.
