This January marks 10 years that I have been in the land brokerage business. Most of the lessons for land agents I have learned came by trial and error, and some have been impressed upon me deeply. That is what happens when you are clueless about what you are getting into, as I was when jumping into this business.
After closing nearly 200 separate land transactions, you see a lot of different scenarios in our line of work. I have had some deals that were whoppers: clients dying, fraud, exhuming a deceased person to prove paternity, a murder on a listing, vandalism to a house, equipment stolen, FBI involved, lawsuits, you name it, I have seen a bunch. That is what makes this business so fun. Below are 10 of the nuggets pertaining to our business that I have plucked from the dirt and carry with me daily.
– The land business is about people. About 20% of what we do is about land, and the other 80% is dealing with people. To succeed in the long term as a land broker, you need to be good at the land part, and exceptional at the people part.
– The time to do business is when people are ready to do business.
– Don’t let your lows be too low or your highs be too high. The land business, as with all sales and service industries, has natural cycles and potentially sharp peaks and deep valleys. Understanding these trends helps you develop an even keel emotionally, and allows you to weather storms and take success with a measure of humility.
– “Want to” is the glue that holds deals together. When I am evaluating the likelihood that a deal will come together, I try to measure the motivation. If there is a strong “want to” by both parties, the better the odds that the deal will happen. No “want to” almost always equals “no deal”.
– Marketing does not equal selling. No amount of marketing a property to the general public can replace your being able to hand deliver a packet of information directly to the person most likely to buy it. Having those contacts and the strong relationships to make that happen takes time to cultivate. Be intentional about building relationships.
– They don’t give out big commission checks as participation trophies.
– Always be honest.
– You always reap more than you sow. Everything you do in this business has the potential to come back to you in spades; good and bad. Momentum breeds momentum, and inactivity breeds inactivity.
– Your reputation gets to the room before you do. How you treat people, how you conduct business, and how hard you work will be talked about in a room before you ever come through the door. One of my favorite principles for this come from ancient King Solomon, “A good name is to be chosen rather than great riches, and favor is better than silver or gold.”-Proverbs 22:1
– The team you work with will make or break your business.
The land brokerage business has opened many doors for me that I never anticipated. I am grateful for the opportunities and income it has afforded my family. Joining the REALTORS® Land Institute (RLI) has been one of the best parts of the journey so far. I value the relationships and knowledge that have been a part of being associated with this great group of land professionals. Earning the Accredited Land Consultant (ALC) Designation has been a source of pride, and has made me better at what we do. I would encourage everyone that wants to make a career out of being a land broker to join RLI and work toward the elite ALC Designation. The benefits are well worth the time and money invested in the process.
Many of you reading this article have been at this far longer than I, and have many more insights into what it means to be a true land professional. I look forward to learning more and getting better if the good Lord gives me more time. Thanks to all of you who have invested in and helped us “youngsters” get started in the land brokerage business. We are standing on the shoulders of good men and women that gave us an example and an opportunity.
Jonathan Good, ALC, is a licensed land broker and partner with Southeastern Land Group serving Alabama and Mississippi. He co-hosts the weekly radio program and podcast “The Land Show” to share his love of the land with people across the country.