Is it a conflict of interest to operate multiple businesses while working as a real estate agent? Many Realtors find that having a few non-conflicting contracts is quite helpful and motivational. With a slower market in commercial office leasing, for instance, this completely makes sense.
However, brokers that operate on a national or international scale may fear they will lose the interest of good people who they have taken the time to invest in. Operating more as a corporation, they may feel a sense of lost interest or drive to act as an “employee.”
In residential real estate, operating more than one business is commonplace. Having a few things on the go works to promote new deals effectively. For instance, being in the corporate training and speaking world, you are able to network with folks who may need to move or purchase a home. So long as the two businesses have no conflicts of interest (they have nothing to do with real estate), then why not? Why not take advantage of networking with different professionals? An ongoing stream of business is more realistic this way and one’s entrepreneurial spirit can shine.
Others would argue that one might lose their focus for a specific business if there are too many eggs in one basket. The drive to continue with a particular field will suffer because one’s attention is dispersed. Proponents of this belief are usually more traditional, corporate-minded and systematic. It works for them to stay in the boundaries of what they know and this provides a security and reliability in their day-to-day that ensures they thrive.
The bottom line: Your personality type will determine the best fit for you. Do you like structure or prefer to set your own schedule? Do you need to be under a boss to keep on track, or do you have the self-discipline to keep pushing forward? Answering these questions will assist in moving forward, during COVID-19 or any time.
Nicole Attias is the owner of Prospect2Win. Prospect2Win is a sales-based company in Canada that is dedicated to helping businesses get in the door through cold calling and presentation training. Nicole facilitates workshops and webinars for real estate agents and various real estate boards. Contact – nicole@prospect2win.com
Stay tuned for my upcoming eBook, “Transform your sales approach – More than just a cold call.”
