39 Business Lessons for Real Estate Agents From Gary Vaynerchuk
Most real estate agents have never heard of Gary Vaynerchuk.
He’s not in our industry and he’s not even a well-known business writer. Yet, he’s someone you should follow.
“Gary Vee” has an uncanny gift to spot trends before they become mainstream. He jumped on Youtube when it launched and produced daily videos about wine for his family business Wine Library. His early adoption of the Internet grew the company’s annual revenue from $3mm to over $60mm in five years.
Gary was also an early investor in Facebook, Snapchat, and Uber. Currently, he’s building the fasting growing social media ad agency, Vaynermedia.
When his most recent book, #AskGaryVee, was published in February, he used his marketing prowess to make his book a top NYT bestseller. One clever technique he used was to ask some of his followers to take a picture of the book and write a review and post on Instagram.
I was honored he asked me and I gladly wrote the review.
I also took notes and distilled it down to 39 lessons. Almost all of them can be applied to building your brokerage business. (My favorites are in bold.)
1) Social media is the current state of the Internet.
2) Ideas are shit. Execution is the name of the game.
3) Don’t be a student. Be a practitioner.
4) Hustle until there’s not a single drop of juice left.
5) Change always comes as a result of reexamining the infrastructure and creating so much pressure against the machine, it has to change.
6) Don’t be afraid to tell people with conviction that clinging to romantic notions and tradition is the quickest way to go out of business.
7) Pounce on every opportunity.
8) The youth establish the communication centers, and then everyone else follows.
9) Don’t lock yourself into a platform or strategy. Use a healthy mix that optimizes your reach.
10) Influence marketing is going to be one of the advertising bedrocks of the next decade. (Hint: Try to become an influencer.)
11) Find influencers in your space and build rapport.
12) You must appeal to customers’ emotions. Heart first. Then brain and wallet.
13) Focus on the quality of the engagement.
14) Entrepreneurs love the climb. By the time they’ve gotten to the top, they’re already thinking about the next hill.
15) Start a business, but only if it comes at the expense of luxuries, not at the expense of food or rent.
16) Land-grabbing more customers give you the leverage and the scale to ultimately convert when the time is right.
17) Survival of your business will depend on distributing your story through your content as often as possible and to as many people as possible. Create content that brings value to your current customers while attracting new customers.
18) Repurpose content on different platforms, but add material and adjust to platform.
19) Always stay ahead of your clients. Know a lot more than they do and always have something more to give them.
20) The minute you decide to launch a new business, you also make the decision to do nothing else but that for the next year, and maybe even two years. Every minute of every eighteen-hour day should be dedicated to this endeavor. Your business success will come at the expense of family time, friend time, vacations, and any other hobbies or activities you once enjoyed. This business has to be your entire life, or it will die.
21) How you make your money is way more important than how much you make.
22) Create great content and get it out there.
23) Your content is the jab. [GV uses boxing as an analogy for business.].
24) A proven road to success: 1) Produce valuable content at scale; 2) Get invited to speak (for a fee); and 3) Write book.
25) Volunteer your professional talent.
26) The more you reach out, the more opportunities to make new connections will arise.
27) “Reverse engineer” the most valuable thing you can give to people.
28) Engage on Twitter.
29) Post articles on Medium.
30) As you build your exposure, people will look forward to your new content.
31) Don’t disguise the sale. Transition from jabbing (offering free content) to punching (asking for value from prospect) by being honest.
32) Ask for feedback. “What do you think of my show? And how is it going compared to a year ago?”
33) When you reach out to people, personalize your message.
34) The network that makes Snapchat feel like it’s for old people will be the next social superstar.
35) Get on a platform before it has proven worthwhile and start monetizing.
36) Instagram works because viewers are there to wholeheartedly consume content.
37) Find influencers by looking at: 1) who is following them? 2) actual engagement happening on each post. 3) engagement as a percentage of their followers, and 4) quality of engagement.
38) Complaining is the most obvious sign of a non-winner.
39) Don’t overvalue the result of trying a new platform, it’s what you learned that is most important.
And finally, four of Gary Vaynerchuk's favorite wines...
2012 Bertolani Spergaline Secco Colli Di Scandiano Di Canossa Frizzante
2013 Girotondo Chardonnay Delle Venezi
2012 Mesa Giunco Vermentino
2014 Costa Aessandro Roero Arneis