5 ways to make your real estate journey a successful one in 2022
Welcome to 2022! For us at JMK, 2021 has been a fantastic year. It came with its own set of challenges. We’re still facing a ruthless pandemic and businesses have not completely recovered from Covid19. We looked back at this year and assessed some of the things we’ve done well. At JMK, we focus exclusively on the Real Estate industry, which has seen dramatic changes in a short time. In our brokerage business, we’ve seen the residential market explode. The demand for single family homes skyrocketed over 40%. In our general contracting business, we’ve seeing customers wanting to setup office space so that they can work from home. On the investment side, property values have increased significantly primarily due to increased rent. Miami alone has seen rents go up 25 percent year over year. Many trends have positively impacted our business overall.
The trends mentioned above have benefited our business in many ways. However, we believe the activities below have contributed to our success in 2021. Hope you find these helpful.
This is the most important factor from our perspective. It’s extremely hard to grow and work towards a goal if the objective is not clear enough.
Avoid shinny object syndrome
According to Warren Buffet, “The difference between successful people and really successful people is that really successful people say no to almost everything.” We couldn’t agree more. At JMK we see opportunities almost daily. However, it’s our responsibility to determine what business we won’t take.
Identify your market or area of expertise
At JMK, we’re focused on Real Estate & Miami market. That’s what we’re best at. If you’re investing or a specific industry, make sure you gain depth of knowledge if a market or industry. It’s critical. That will give you an edge over your competition when you need to grab an opportunity. For our investment business, we underwrite deals daily and build a good sense of what a property is worth. With that expertise, we’re able to move extremely fast when we see an asset that is underpriced and ready to be grabbed. You would be able to do it without building your knowledge of a market first.
Know what you want
Next, knowing what you want is key. At the beginning of the year and quarterly, we visualize what we want the business to be and what we want from it. Along with our objectives, this exercise helps us prioritize our activities.
Build the right team
Finally, and importantly, we can’t emphasize enough the importance of a team. We’ve built at JMK an impressive team that works well together and where each individual leverages his or her strengths to take the team to next level. In addition to each team member’s skills, we’ve built a culture that fosters collaboration, compassion and desire to contribute.
At JMK, we go above a beyond to serve our customers. As we wrap up another year, we’re ready to do our best in understanding the needs of our valued customers and make sure we’re the best partners possible to owners from the moment they decide to acquire a property, through the remodel, management, and eventual sale.