How to Thrive in a New Market, with Shannon King
New Real Estate Market: What You Will Learn:
- Shannon’s real estate journey
- How to get out of your own way and move into a new real estate market
- The fundamental steps to generating business in a new real estate market
- How to determine if you will succeed in a particular market
- Why building a tribe is such an important part of Shannon’s success
- Why Shannon is such a huge proponent of niching down and being hyperlocal
- How Shannon has developed multiple streams of passive income
- The importance of saying ‘no,’ putting your oxygen mask on first, and setting boundaries
Start Generating Business in a New Market
Shannon King is the founder of Island Living Homes, a boutique real estate firm located in Oahu, Hawaii. Shannon first got into the real estate business in 2000, and since then, she has started three firms in 4 markets and experienced huge success. Shannon has accomplished so much in her real estate career as both an agent and an entrepreneur, and in this episode of Pursuing Freedom, she shares her inspiring story. She walks us through her unique business model, revealing the success she has achieved through niching down and surrounding herself with likeminded people that support her. And she also breaks down the fundamental steps that she took to start generating business in a new real estate market.
Leave Your Old Market Behind
Shannon has built a number of successful teams in 4 markets thanks to frequently relocating for her husband’s military job. She is living proof that “can’t” is just an excuse we tell ourselves when it comes to dreams of relocating your life and business. When you move into a new real estate market, you have to fully-commit and leave your old market behind. The more you dwell on your old market, the less time and energy you will have to dive into the new one. And the second piece to that is—you should tap into your old database to see what connections they may have in your new market. By putting a solid referral strategy in place and committing to your new market, you will be able to generate new business and passive income simultaneously.
Pick a Market That Supports Your Strengths
Your current sphere of influence is going to be the biggest feeder in your new market, so you need to be excited and tell people you’re moving. Chances are, they will be excited for you and that’s going to feed into your pipeline. The next thing you can do to set yourself up for success is to look at data in your prospective markets to see whether or not it will be an area where you can thrive. You have to be very strategic about how you approach new opportunities, and the numbers don’t lie. Shannon’s biggest secret to success is that she tries to learn everything she can about a market’s data before she moves into it, and she chooses a market that embodies who she is.
About Shannon King
Helping buyers find the homes they love and sellers say hello to their next opportunity is what Shannon W. King does best. Since becoming licensed in 2000, she has assisted more than 1000 families with their real estate needs in multiple states. Island Living Homes is the third boutique real estate firm she’s started.
As a socialpreneur, King co-founded Schoolhouse Realty, a community-based company in CA that gives 10% of its proceeds to schools. They have given over $160,000 to schools! King continues the tradition of donating to schools in Hawaii. Prior to that, she owned Tribella Realty in Texas. King still holds her Texas Brokers license.
King is known as the “Real Estate Road Warrior” because her Naval Officer husband’s job requires they relocate often. Their frequent relocation and purchasing of properties when they move, helps her uniquely understand the transaction from a buyer’s and seller’s perspective. They have lived in TX, CA, DC, Italy, and HI and own investment properties in most of these places.
How to Connect with Shannon King:
- Website: https://www.islandlivinghomes.com/
- LinkedIn: https://www.linkedin.com/in/shannonwking/
- Facebook: https://www.facebook.com/IslandLivingHI/
- Pinterest: https://www.pinterest.es/islandlivinghomes/