What A CEO At Buckingham Investments Wishes They Had Known Before Entering The Real Estate Industry
Early in the career, the belief that "every problem could be solved with a spreadsheet and the right answer" proved incorrect; instead, success in the investment real estate industry hinges on building relationships, with the technical aspects being secondary. The most successful individuals prioritize networking and meeting people over mastering the technical details, proving that "it's all about relationships".
Networking, Relationship Building, Real Estate, Sales, Business Development
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Anthony Walker
CEO/Managing Broker
Buckingham Investments
University of Southern California
Loyola Marymount University - MBA
Spanish & Other Languages, International Relations & Affairs
Real Estate
Real Estate
Honors Student
Video Highlights
1. Building relationships is more important than technical knowledge or intelligence for success in investment real estate.
2. Prioritizing networking and meeting people over mastering technical details is crucial for success.
3. It's a misconception that success solely depends on having the right spreadsheet or being the smartest; relationships are key to closing deals and making money in this field.
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
I think when I started, I thought every problem could be solved with a spreadsheet and the right answer. There was some correct answer to unlock the right deal, or that if you had the right deal, then you were going to make money. Or if you were smarter than everybody else, you were going to make money.
The reality is, it's much more about relationships than having the right spreadsheet. In fact, it's all about relationships. If you know the people you need to know to put a deal together, you are far more likely to be successful than you are being the most educated or smartest person in the room.
At the beginning, and I've seen other agents do this, it's really easy to come into the office and feel like you want to learn everything there is to know about all the technical details of investment real estate. Then, once you know everything, you'll be a great salesperson and you'll go out and make money. That's not at all how it works.
The people that I've seen try to do that never really work out. Whereas the people who come in knowing nothing, and are just going to go out and meet everybody they possibly can and bring them into the office, those are the ones who end up being really successful.
So, it's all about relationships. The technical stuff can be learned. I think I focused too much at the beginning on that, too. I thought it was all about learning everything I needed to know. That's important, though. It's table stakes. You need to go out there and meet people, a hundred percent.