From a young age, I was fortunate to know what I wanted my career to be.
Many 12-year-olds say they want to be a movie star, pilot or professional athlete, but I knew that I wanted to be a realtor. Growing up in an era when Miami's real estate business was exploding, I watched the city grow before my eyes. I wanted to have a part in that growth, which is why I decided to obtain my real estate license as soon as I turned 18.
Today, I run a luxury real estate group under Cervera, with sales of over $400 million within Brickell, Biscayne Bay, Key Biscayne, Design District, Midtown, Coconut Grove and Coral Gables. I've found a niche with penthouses, having sold Brickell's most expensive penthouse to date, along with two other penthouses in the past few years.
However, reaching this point did not come easy. I owe my success to two things: hard work and the people who took a chance on me. Without the former, there could never be the latter.
Here are the key reasons I was able to grow my business to over $400 million in sales by age 30.
You've heard it before, but I can't stress this enough. Every person you meet is a door to a new opportunity. In real estate, as is the case with most other professions, people want to work with someone they trust and connect with. My team and I put a large emphasis on not only going to work, but also finding meaning in the work we do through personal relationships. That can mean a lot of things, whether it be finding the perfect first home for a couple or helping a family move to an area with the best schools.
Real estate is personal, and your clients should always be treated like people, not numbers. Whether someone has a $100,000 or $10 Million budget, I treat them with the same respect.
As a result, nearly all of my clients come from referrals or return to me as repeat clients.
Become An Expert In Your Industry
My team and I put a strong focus on truly knowing the neighborhoods we work in. We've become local specialists, making sure that we have a strong understanding of the ins and outs of the listing, the area and the potential buyers.
We familiarize ourselves with every aspect of an area, including: the neighborhood, the local housing market, the inventory, the schools, community issues and traffic concerns. Being knowledgeable on these aspects help us guide the potential buyer in making an informed decision.
That same approach should be applied to every profession. People are choosing to work with you for a reason, so try to maximize the value that comes with that.
Find Time To Do Nothing
We live in a go, go, go world, with not much focus on slowing down. You're responsible for your own mental wellbeing, so be sure to put in the time for yourself. For at least one hour a day, I allow myself the space to do nothing and truly live in the moment. That hour may be spent meditating, curled up with a book or watching my favorite Bravo show. The point is: that time should be for you, free of any distractions. Doing this allows you to go into work with a clear mind the following day.
It's Not All On You: Empower Your Employees
There's an emphasis put on working non-stop as the only way to succeed. That approach couldn't be further from the truth. While I'm all about working hard, as a leader, working smarter not harder is what will take your business to the next level. Remember, you hire people for a reason, so trust them to do their job and always make yourself available as a resource.
That way, you can spend your time on big picture initiatives, and your employees can own their work and grow in the process.
It Takes Money To Make Money
Don't underestimate the power of good marketing.
In business, especially when first starting out, it's important to spend money to invest in your company's success. Whether it be boosting your website's SEO, creating targeted ads or sponsoring social media posts, effective marketing is crucial when looking to reach your target audience.
Beyond traditional marketing, attending conferences and panels is essential to help you continuously learn about your industry, meet like-minded people and get your name out there.
It isn't always easy to stay on top of your finances, especially when you have developed unhealthy spending habits over the years. However, as you begin to realize the many benefits of having healthy finances, it can become something you want to make a conscious effort to improve. When your finances are in a good place, you often have access to better opportunities whether it be a mortgage loan, greater credit line or business loan. On that note, here is how you can become an expert at managing your finances in case you need a few tips.
Learn to Use Technology
The good thing about managing finances in the technological age is that you don't have to do it alone. There are so many apps available that will help you pay bills on time and track your expenses. For instance, some apps force you to live within your actual income and tell you what to do when you need to balance your budget.
If you need an app that will help you get better at saving, then some will set aside your spare change for you. Also, don't be afraid to use more simple tools such as your smartphone calendar to set reminders about payments if you don't automate them.
Seek Legal Advice
Sometimes, being an expert at something means understanding that you can't possibly know it all. This is why you have professionals around you that can help fill in the gaps where you're lacking. Consider hiring a legal firm to help with any challenges that are beyond you. Lexington Law is a good firm as they could help remove negative items from your credit report. Read this Lexington Law Review (Our #1 Credit Repair Service of 2019) to find out more about how they could help improve your finances.
You can't do better than what you know when it comes to managing finances. You should, therefore, invest your time in learning more about finances and how to manage them. Think about what your goals for your finances are and what knowledge gaps you need to fill.
For example, if you want to invest in the stock market so that you can improve your net worth, then you may need to learn more about investing to do so successfully. To boost your knowledge, try reading articles on credible blogs that share finance information from professionals. Also, be weary of content from finance-driven companies as it could be biased.
Work on Growing Your Income
As a self-proclaimed finance guru, you know that the more sources of income that you have, the better. Work on increasing your streams of income so that you have more money to meet your targets whether it's to save for a property or put larger sums towards retirement. One way to do so would be by getting extra income by doing social media marketing for businesses or creating tutorials on YouTube. If you own a property, renting out rooms is a great way to make passive income.
Live Within Your Means
It can be difficult to live within your means when you live in a society that is always presenting you with things to buy. However, being more conscious about the things that you purchase could help you realize that most are wants rather than needs. To live within your means, always take time to think about a purchase as opposed to impulse spending. You should always get good at bargain hunting as many times you can find items of similar quality at a cheaper price.
Learn How to Manage Debt
Debt doesn't have to be a bad thing if you understand how it works and how to manage it. It can be a tool for credit building when you understand the fundamentals. For instance, if you take out a loan or credit card, always be mindful of your interest rates.
By paying the amount of money you borrowed back in full before the due date, you won't have to pay interest on what you borrowed. If you can't pay back in full, paying more than the minimum payment will ensure you incur less interest. For the most part, the secret to good debt management is never spending more than you can afford to pay back.
Managing finances is a life skill that can help improve your quality of life. By following the mentioned tips and taking your finances more seriously, you're more likely to master the art of healthy finances.