Steve Rozenberg started his career as an airline pilot. Never had Steve thought of doing anything other than flying planes. Then 9/11 happened and within hours, his life dissolved in front of him.
As Steve started figuring out what he wanted to do next (out of interest and necessity), everything leaned towards real estate. This session tells his journey from failure to success, which will inspire and teach you how to make the most of your future.
Steve started out in real estate and went from buying and selling houses to buying an apartment complex. Did so well with the apartment complex they decided to venture in to low income properties. Within a year, Steve and his partner had bought twenty.
Now, his low income housing make ready cost was averaging three times more than expected.
Enter sleepless nights because they didn’t know how to fix it. Instead of learning their lesson, they bought more properties. At this point, there were three options:
- Sell The Properties, Take the Hit, Walk Away.
After the recession, couldn’t sell them.
- Hand them over to a Management Company.
No property management company would take them on
- Set Up on Their Own Company.
Option three was the only option and to their surprise after nine months, slowly things started to stabilize. As a result, other people wanted Steve’s company to take on their properties.
On December 1st 2012, they burned the boats (going all in or not coming home). They hired a Full Time Employee and jumped all in.
How do you do what you do, to have what you have?
People don’t fail because they don’t work hard, they fail because they miss the first part – to be.
It’s not a toolset issue, it’s a mindset issue.
One has to completely change how they think.
In 2015 won Best Marketing in North America.
How did they win? They created the Agent Alliance Program. The #1 referred company by realtors in Texas.
Change your mindset to realize that everyone is in sales and marketing!
You always have to be thinking: how am I getting leads.? If you aren’t thinking about how to cover that market, someone else will take your place and then it’s too late.
Know your Audience!
If you don’t know who it is, that person is walking by you every single day and you are missing them.
Where do they hang out? What do they read? What country do they live in?
This allows you to create messages that resonate with your prospects.
The #! marketing strategy has the best acquisition value (and isn’t on the slide) – Referrals.
What Year are You In?
Are you keeping up with the millennials? Do you text your clients, leads, prospects?
You have a 4x greater chance of someone returning a text message than an email/phone call. If you text them three times, you have a 328% chance you’ll close that lead.
Marketing is an investment not an expense.
Are we in service or product business?
We are in the product business. A product serves as a solution to their needs. If you are selling, you are making it about you – if you are educating, you are making it about them.
Be Perceived as an Expert
Know what is going on in your market – go to economic summits and forums. What’s happening in your city/market is crucial to making you appear as the ultimate expert. Just by knowing the facts of your industry can excite your prospects.
Key Performance Indicators
This is the best way to test and measure everything you do.
- Determine how much money you are spending, what you are spending it on and what results it is bringing you.
- You do this to be able to stop spending money on marketing that is not working and spend more money on marketing that is working.
This is going to tell you where your business is coming from and where to spend your dollars.
What does it all mean?
Every business in the world runs of this infrastructure:
Of these variables:
- Average Dollar Sale
- Number of Transactions
- Profit Margin
You can control them ALL if you are educating yourself and investing the time in your company.
So, how do you handle massive growth and change?
With this business model, Steve’s company doubled their revenue and tripled their growth.
With growth like that, you have to plan on things breaking. In order to keep things running smoothly, Steve’s company runs on checklists and procedures. Tasks are systematized so that it’s easy and self-explanatory.
Everyone is afraid to fail. But consider this:
- When you’re a kid you are told you can do whatever you want. This shifts as you get older.
- You can’t say you’re going to be a success and a failure at the same time. Change your thoughts.
- What are you telling yourself on a daily basis and how are you spending your days?
Steve speaks across the country and internationally on how he has exploded his company through laser focused marketing to become the fastest growing property management and realty company in Houston, Texas. He has been involved in real estate since 2002 and still personally owns over 30 homes while his company, Empire Industries, currently manages over 600 properties.
On top of that, Steve makes time to regularly fly for a major airline (mostly international routes on the Boeing 787).