When Bob Kent founded real-estate firm Kent Realty in 2014, he discovered that preparation isn’t everything when it comes to starting a new business. Despite years of experience in the industry, Bob faced the challenges of setting up an office, providing exemplary customer service and building a network to deal with business issues. Here, he shares how he’s overcome those challenging early days, and what he’d recommend for those just starting out in their careers.
Where did your career in real estate begin?
For me, it was very close to home. I got into the industry through working with my cousin, who was selling land in East Texas. I started working with him right out of college, and stayed there for two years. It was very much a crash course in real estate.
What prompted you to take the leap and found your own firm?
I’d been in commercial real estate for a decade or so, working for some other companies. It was a practical decision – I finally got to the point where I’d developed a strong enough client base that would cover the operating expenses of a company and still make some kind of profit. After nine years working for other firms, I felt it was about time to set up one of my own.
Founding a company is a monumental challenge, even with a decade’s experience in the industry under your belt. How did you prepare for it? Was it a smooth launch?
I’d been getting ready to start the company for a year in advance, and I thought I had everything pretty much figured out. It was all ready to go, so on day one we pushed the button. It started – but I found I still had about a year’s preparation to do on stuff I hadn’t even thought of. It’s inevitable that you can’t prepare for everything. You have to tackle it as it comes.
One of the big decisions for us was working out what kind of office set-up we were looking for, in terms of phone systems, secretary and that sort of thing. Regus has been an ideal situation for us getting started – right now we have a virtual office system set up, where we have the back office and all phone calls handled by Regus assistants. Our sales team works all over, and then uses conference rooms or offices where needed. In Dallas there are 42 locations we can work from, so we’re never far from our clients.
Your business supports both landlords and tenants. How do you keep them on board?
We have a two-pronged approach to our customer service: availability and support. We’re on hand twenty-four hours a day, seven days a week, which is a huge advantage for many of our clients.
We handle all of the negotiations, the procurement of properties and prospects, which is typical for any real estate broker. But on top of that we look to connect the dots in a way that our clients might not be able to, by providing trusted referrals to make sure they’ve got people in place to help out with steps they hadn’t planned for.
Real estate is a very challenging industry. What’s your advice on keeping going when the going gets tough?
Real estate is a challenging industry. No two deals are exactly the same, and there is no specific way to handle every situation. We’ve found that a solid network of people, whether that’s attorneys or other brokers, landlords or other businesses, can go a long way. When we’re working with an unfamiliar situation, or one that’s causing us problems, we go and talk to the folks that have dealt with it before. There’s no better way to learn.
You started out your career with a family member and worked your way into larger offices, eventually setting up your own. How would you recommend others get into real estate?
In my first couple of years of business, I started out with very little in the way of training. But after that I got on board with a group that really helped me out. When you’re looking for a job, you should be focusing on finding a firm that will offer you the best quality training, not necessarily the highest pay. You might have to look through all the different businesses, but it’s worth it if you can work in one that gives you attention. Training in your first couple of years is particularly important, because that’s when you learn your habits, both good and bad. You want to make sure that you’re spending that time with the best people.
And what would you recommend to those just beginning their careers?
Tough it out, especially in the first year or two. You’ll be working all hours of the day, and you do have to put in that extra time. But never give up – attitude is going to be hugely important when you’re starting out. And surround yourself with good people, both teammates and business contacts. It’ll put you in good stead.
Kent Realty uses Regus offices throughout Dallas to meet with clients and close deals. You can find out more about Bob’s business here.
Top tips from Bob:
- Form a trusted network of people to share advice when you face problems.
- Aim to work for companies that offer high-quality training to their employees, especially in the early stages of your career.
- Never give up, even when working all hours of the day. Attitude is important.