There is a BIG difference between being a real estate agent and running a business. On this episode of the Marketing Genius Podcast, Rob Chevez took some time to explain how he and his team over at the CAZA Group have taught agents how to manage a financially savvy business, not just be good agents. We also talked about embracing a hyper-local mindset when it comes to branding in their market.
Rob started his journey in the real estate industry like many. He was running an executive recruiting company with his best friend and investing in real estate on the side. He eventually sold his portion of that company to pursue real estate full time buying around 20 homes per year from 2005-2008. He did this all while being, in his own words, “financially illiterate.”
“I’d get done with a project, make a profit from it and then another opportunity would come up and I’d buy that,” Rob never put his profits back into his own pocket and caused his p&l to be a mess. That’s when he decided that his team needed to sit down and focus their attention on understanding their numbers. The ability to manage cash flow and understand how to make it work for you is what separates good business owners from greats. You can’t do any of that without taking the time to understand your finances. A few books that Rob recommends for understanding your finances are Profit First and Simple Numbers.
Being financially literate helps in all aspects of your business, especially marketing & branding. This allows you to focus your attention on the marketing techniques that are the most financially beneficial to your business. Rob and his team discovered that creating a hyper-local brand has helped expand his reach within his market greatly. “We picked 2,000 homes and put in the ground work; calling and door knocking. Then we layered it with direct mail and put on events within that area. Finally, we layered it with social media to create a direct dialogue with our audience.” These tactics are only beneficial if you are creating value for your audience and interest in your community.
All of these techniques are used to create what Rob calls, “social currency,” that gets monetized through referrals, business, and shares. This is really what building a community is all about. You want to connect people in your area that know and understand what it is you do, providing value to them to create a community in which you are the real estate mastermind. Here are some examples of content Rob and his team created to do this:
Becoming the authority figure in your market requires significant work on both the ground level and in social media. It also requires getting involved with members of your community on a personal level. Rob says that to get started he met with a brewery owner in his area that had already built a strong local brand and sold her on his vision of promoting her business to his audience. As soon as Rob started pouring his effort into to her business and promoting it, she referred Rob to a friend that also needed help. This created a snowball effect that Rob used to generate his trusted, local brand. Finding the right business owners to partner with and providing them with value is the secret sauce that will elevate your business.
In summation, in order to generate the best opportunities for your business you need to understand a few things. First, you need to understand your numbers. Being financially intelligent will allow you to maximize your return on your investment of time or money. Second, you need to create value for your community. This generates social currency in the form of referrals, business, and social media shares. Finally, you need to understand that in order to build a community you have to get personal.
Check out the full podcast for the inside scoop on building a financially successful, hyper-local brand.
If you’re interested in learning more from Rob or connecting with him you can visit his website here: http://www.TheCAZAGroup.com
Or follow him on Instagram @robchevez
Or find him on Facebook @ https://www.facebook.com/robchevez