Real estate is an industry that has seen enormous changes in the past few years, with technology disrupting traditional ways of doing business. But the most successful real estate entrepreneurs have found a way to adapt and thrive, regardless of technological changes or market swings.
One such entrepreneur is Joshua Shull, who has turned his experience as a real estate agent into a thriving business empire. Today, he operates four companies: Shull Homes, which is comprised of a real estate brokerage and contracting company, Open Fire Marketing which targets new clients and partnerships, and an investment company. Keep reading to discover some of the key insights into how successful real estate entrepreneurs think based on Joshua’s experiences.
1- Understand that success is a mindset
One of the most important lessons that Joshua Shull has learned in his career is that success is a mindset. He believes that the key to success is having a positive attitude, a willingness to learn and adapt, and a commitment to hard work. According to Shull, you always have to “seek out new information and knowledge. The real estate industry is not stagnant. It’s constantly evolving, so do not simply rely on information written decades ago.”
For real estate entrepreneurs, this means cultivating a mindset of constant growth and learning. Successful entrepreneurs are always looking for ways to improve their skills, their knowledge of the market, and their understanding of their clients’ needs. They are willing to take risks, try new things, and adapt to changing market conditions.
2- Think like an entrepreneur
Do you know what makes entrepreneurs so successful? It’s not that they’re unbelievably smart or talented. It’s their ability to spot a problem and offer solutions. After seeing success in his real estate company, Joshua noticed he could bring more to the table if he was able to assist his clients with the disposal, modification, and construction of luxury homes. So, he started a contracting company. Then, since he had been marketing himself all along, he founded Open Fire Marketing, an advertising agency. Finally, since real estate is all about investing, he leaped into the investment industry as well to protect his money and his clients’.
Real estate is not just about wrestling to sell your properties. There’s so much more to it than meets the eye. Keep an eye open for opportunities, do not fear failure, and take risks. This entrepreneurial mindset will not only help you stand out from the competition but also increase your income potential, and decrease your risk.
3- Focus on Building Relationships
Building strong relationships with clients, colleagues, and industry partners is crucial to succeeding. This means taking the time to get to know them on a personal level, understanding their needs and goals, and building trust and rapport. It also means networking with other professionals in the industry, such as lawyers, accountants, and mortgage brokers, and building mutually beneficial relationships with them.
If you have employees working for you, then fostering your relationships with them is equally important. Joshua recommends you be a leader who is honest and pushes them toward their goals.
4- Embrace failure
Another key insight from Joshua Shull is the importance of embracing failure as a natural part of the entrepreneurial journey. Shull says, “You have to be willing to fail, especially when stepping into the unknown. Remember, you’re a leader. Your clients and employees rely on you to innovate, stay strong, and be on course.”
See, successful entrepreneurs understand that failure is not something to be feared but something to be embraced. They know that every failure is an opportunity to learn and grow and that the most successful people in any industry have all experienced failure at some point in their journey. By embracing failure, real estate entrepreneurs can develop resilience, perseverance, and a willingness to take risks that will serve them well over the long term.
5- Stay focused on the big picture
Finally, Joshua Shull believes that successful real estate entrepreneurs stay focused on the big picture, even in the face of day-to-day challenges and distractions. According to Shull, It’s all about knowing what your mission is and gathering the skills. You need to get it done.
In conclusion, the world of real estate is constantly evolving, but successful entrepreneurs like Joshua Shull have shown that it’s possible to adapt and thrive in the face of change. By cultivating a mindset of growth, thinking like an entrepreneur, building strong relationships, embracing failure, and staying focused on the big picture, real estate entrepreneurs can succeed in any market condition. As the industry continues to evolve, the insights shared by Joshua Shull provide a roadmap for entrepreneurs looking to build a thriving real estate business.