Welcome to another exclusive edition of The Roadmap, brought to you by ASBN, where your host, Lee Heisman, takes you on a journey through the strategies and experiences of the brightest CEOs and entrepreneurs worldwide who have successfully scaled and exited their businesses. In this episode, we have the privilege of hearing from David Dixon, the visionary founder of NAI Brannen Goddard, who shares insights on the crucial elements real estate agents need to focus on.
Key Takeaways
1. Networking is the most crucial aspect required in any business. According to Dixon, “If you lose that skill, then you lose the ability to succeed in your business.”
2. As a real estate expert, Dixon believes real estate differs between regions. For example, Dixon started in the Atlanta area, but as his clients’ needs grew, he expanded his deals to almost 40 out of 50 states. This also suggests that real estate differs based on factors such as how well-funded the landlords are, the leasing cost, and property tax. There are several different variables that one needs to consider while deciding which market to work in.
3. Currently, the hottest markets are Charlotte, South Carolina, and Houston/Dallas, Texas, while Atlanta, Georgia, has also grown exponentially in the last five years. However, Dixon encourages commercial and seasonal agents in the market to be in the business for at least ten years before considering a purchase. He suggests, “Once your business is established for ten years, you will need those financials to get the best deal.”
4. Dixon advises young professionals to be prepared to work hard. He believes there are no safety nets, salaries, or benefits “in our world.” Therefore, one must treat the initial years of the business like medical school, where one may not see immediate rewards. Dixon also recommends building some savings to support oneself during the initial years of real estate. For experienced professionals, it is more about choosing the industry they want to work in and becoming an expert.
5. In 2024, the country will have the highest amount of commercial debt that is due, and thanks to the impact of COVID, the major tenants are not renewing their spaces. However, looking ahead, Dixon is interested in exploring teaching opportunities, either by serving on a commercial board or as a speaker, to develop educational content that helps people succeed in the real estate industry.
If you want more information, contact Dixson at (678) 789-1617 or email him at DDixon@naibg.com.
"As you evolve in your business, become a specialist instead of trying to be everything for everyone." – David Dixson
