In the realm of real estate, the journey to building a sustainable business can be challenging. Recently, listeners tuned into an episode of the Real Estate Insiders Unfiltered podcast featuring Lisa Chinatti, a standout in the industry. Her story underscores the critical distinction between merely selling a few homes a year and running a legitimate business. Here are some essential takeaways from this inspiring conversation.
Understanding the Landscape
Lisa shared an insightful quote from her former business coach: “Treatment before diagnosis is malpractice.” This principle resonates deeply within the real estate brokerage world. Before implementing any strategies or solutions, it’s vital to fully understand the problems at hand. Many agents, including Lisa early in her career, have jumped into solutions without assessing the landscape, but her journey emphasizes the importance of thorough analysis before taking action.
The Shift from Hobby to Business
Lisa’s story reflects a common narrative in the real estate market. Initially, she struggled, selling only one or two homes a year. However, after a candid discussion with her accountant, she realized she needed to either commit to real estate or view it as an expensive hobby. In 2015, she made a mindset shift and sold 82 homes in one year, a drastic transformation that speaks volumes about dedication and strategy.
Key Lessons from Lisa’s Journey
- Treat It Like a Job: Lisa emphasized the importance of treating real estate as a full-time job. After sending her daughters to school, she committed herself to her office from morning until her cut-off time to ensure she booked two appointments daily. This kind of discipline is vital in a field that can sometimes feel chaotic and unstructured.
- Resilience Against Rejection: One of the most intriguing aspects of her success was her approach to rejection. Lisa noted that she found it easier to call strangers from her community than her sphere of influence (SOI). By detaching personal feelings from the calls, she could push through rejection and focus on results.
Building a Supportive Environment
Another pivotal aspect of Lisa’s approach is her in-house team of Inside Sales Agents (ISAs). By employing young individuals fresh out of high school, she not only provides them with valuable skills but also fosters a culture of learning and growth.
Why In-House ISAs?
- Local Knowledge: Lisa’s ISAs are familiar with the community and can effectively match leads with the right agents. This personalized touch can enhance the client experience and increase conversion rates.
- Career Path: By encouraging ISAs to pursue their real estate licenses, she creates a pathway for growth, allowing them to transition into full-fledged agents within the brokerage. This not only benefits the individuals but also the business.
Technology and Innovation
Lisa’s use of technology, such as Follow Up Boss, DotLoop, and School, showcases her commitment to leveraging real estate technology. These tools not only streamline operations but also enhance communication and collaboration among team members.
Embracing AI
Interestingly, Lisa also discussed the integration of AI in her business. While she acknowledges that clients prefer speaking to humans initially, she sees a future where AI can assist with older leads in the database. This innovative blend of technology and personal touch could be the cornerstone of future real estate practices.
Final Thoughts
In conclusion, Lisa Chinatti’s journey from selling a handful of homes to leading a thriving real estate brokerage is a testament to the power of mindset, resilience, and innovation. For real estate agents, the lesson is clear: selling five homes a year isn’t a business; it’s merely a hobby. By treating their real estate careers with the seriousness they deserve, embracing technology, and fostering a supportive environment, agents can create sustainable and profitable businesses.
