How to Rebuild a Real Estate Business in a New Market

Military families are notorious for moving often. There’s a chance of a family moving every two to three years due to Permanent Change of Station (PCS) orders.

What can make the move even worse is if the spouse of the military member has a flourishing business. This is especially true if the business is a real estate one.

What can you do to help rebuild your real estate business in a whole new market? Will you have to get a new license? How can you even find time to learn the new area?

Our guest, Nicole Collard, is here to share her story on having to restart her real estate business in Tampa, Florida. Listen to episode 57 of the Realestatable podcast or read our blog post below to learn how she did it all.

The Beginning of Nicole’s Real Estate Journey

Her journey all started when she was a military wife and stay-at-home mom, after she and her husband first started buying a home for themselves in the Fort Campbell/Clarksville, TN area.

When she looked at the check, she thought to herself, “We can be making this type of money for ourselves.” This is when she knew that becoming a real estate agent was the right choice for her and her family.

Despite believing the career was "flexible," she was able to become a successful agent within the area. But then, the military hit her husband with the big news! It was time for them to be restationed in a whole new state.

She spent all this time building her real estate career in Clarksville, TN, and knew nothing about the Tampa, Florida, market area. However, she knew she had to let go of control and focus on what she could do to help prepare for her new start in her real estate business.

Starting fresh also means you’re going to need to rebuild your email list. Don’t do it from scratch and grab our customized email templates that’ll make the process ten times easier!

Building and Transitioning Markets

Starting over in a whole new market can be scary and confusing, but when you prepare yourself ahead of time, it can make the transition a lot easier. Nicole started by doing research on Facebook to find realtors she could partner with.

Luckily, she was able to partner with someone who was starting a whole new team of agents. If you’re planning to move to another city or state, don’t think you have to rebuild your real estate business on your own. 

It may be best for you to work with someone else, because they know the market area and can teach you everything you need to know. They may also be more skilled at doing specific tasks than you. For example, Nicole’s partner was excellent at lead generation on Facebook.

When it comes to lead generation, you’re going to need a brand, which can be hard to do on your own. Listen to episode 40 to learn our branding blueprint that will help you outshine your competitors.

Overcoming Market-Specific Obstacles

Before making your big move, take the time to research the new market’s rules and regulations. For example, the way the Clarksville, TN, area’s HOA rules and regulations are is different from Tampa, Florida’s HOAs.

Also, Tampa’s CDD fees are higher than Clarksville’s area, which most new buyers are unaware of in the Tampa area. Nicole took the extra step to tell her customers that within a year, they may be paying a higher amount on their mortgage due to the CDD fees.

Another trick that Nicole used to help her learn her new market area is using Google Maps. This helps her learn how far away places are and if the drive is worth it.

Rebuilding a real estate business in a new market area is hard, but worth it. If you’re unsure what to do, consider checking out the National Association of Realtors to see what steps you can take to become a realtor in your new area.

Prepare Yourself Now for Your Big Move

Life throws us lemons all the time, especially when you’re an entrepreneur. Don’t feel as though you have to stop doing what you love to do just because you have to move to another state.

As Nicole tells us in episode 57 of the podcast, anything is possible, even when it comes to rebuilding your real estate business. Start by networking with realtors in your new market area, educate yourself on the rules and regulations, and see what you have to do to become licensed in the new state.

Within time, you can have a successful real estate business in another state. You may also want to bring along these mini portfolio reviews to give to your new clients and show that you’re the go-to expert in the market area. They won’t even realize that you’re a new agent in the city when you have these in hand!