7 Things Real Estate Pros Can Learn From Summer Road Trips
It’s both peak real estate season, and summer road trip season. So what can real estate pros and business owners learn from embracing the vaunted summer road trip?
While many real estate agents, investors, and CEOs may not have taken a summer road trip since they were kids, actually getting on the road can pack in a lot of value. It can be a refreshing change from flying and staying in the same old resorts. For some, it can be a way to find new inspiration, recharge, and it can yield actionable insights. All of this can help your business in one way or another. What are you waiting for? Hop in the car and go see what you can learn.
1. America is a REAL BIG Country
It sounds obvious, but until you’ve driven it, the scale of this country is hard to fathom. Flying really takes away from the size of the United States. Driving will open your eyes to just how expansive the nation is, and how much real estate there is. If you want to be able to think big, you’ve got to be able to see big. Even states like California, Florida, and Texas, are just a tiny piece of the puzzle.
2. There is a Lot of Vacant Land
If you come from dense urban areas like Miami or New York City, you’ll be amazed at how much land isn’t being used, and isn’t developed. You may never have seen such open spaces in real life. You might even think it’s a huge waste, given how overdeveloped your home town is. It will show you that land really isn’t quite as scarce as we are often led to believe. It’s also a great lesson in supply and demand, and the herd mentality.
3. How Much Money There is
Despite a lot of grumbling about the economy and wages, a road trip will show you just how much money is out there, and how richly many people are living. In some areas, $1M is just the average property sales price. In others, you’ll need to make $200 an hour just to afford an average apartment. At some hotels, you’ll get Rolls Royce car service as standard, and won’t be allowed to pull up to the property in a taxi. There is a lot of excess spending on all types of things, and there is a lot of money to be leveraged.
4. How Inexpensively Many People Live
If you are a real estate professional that lives in an affluent area, you may never have seen a property sell for less than $200,000. However, once you do some traveling, you may be surprised to see how inexpensively and modestly many Americans live, how little they can get by on, and how little they can afford. It isn’t about being lazy: some choose a richer life that isn’t based on debt. Others work hard and are sleeping in tents because that’s all they can afford. There is a big need for more affordable housing in the United States.
5. How much we are Alike
What is ironic is that you can drive from coast to coast looking for authentic local stores and cuisine. It’s not as easy as you think. There appear to be as many Chinese, Mexican, and McDonalds restaurants in Texas as BBQ joints, probably far more. The outlet malls are run by the same brands, with the same stores. Our spending, and the brands we frequent are one of the common threads that unite us all. You’ll even see many of the same real estate franchises.
6. A New Appreciation for the Basics
Wealthy Realtors, investors, and real estate company CEOs are often afflicted by serious first world problems, like a terribly made Starbucks drink. Once you’ve slept in a tent, have walked in places that made you really consider if you are safe, and haven’t been able to find a decent cup of coffee for 1,000 miles, you’ll have a whole new appreciation for the basics. The gratitude you take away from this adventure can go a long way in your business.
7. Realize there is so much more to do
Once you’ve taken a decent summer road trip, you’ll realize there is so much more to do. Even notable markets like NYC, Miami, DC, and San Francisco are tiny dots on the map. There is a lot of business to do, a lot of land to develop, a lot of affordable housing to build, and markets to establish your real estate brand in.
There’s a lot to explore out there, and a summer road trip can be an awesome way for real estate pros to discover it, and uncover new insights that will propel their success.