Brian Ngo: Crushing The Real Estate Industry Through Innovation And Technology – Future Sharks
Brain Ngo has over 10 years of experience in Real Estate working in South Brooklyn and Staten Island. Now, he has a large media presence where he explains what he does through videos and posts.
To better understand what it’s like to work in real estate and what it takes to be successful, Brian explains that it’s not all glam and riches, it’s a lot of failing (90% failure for the 1st year). You have to be unafraid and confident. Build over time, plant seeds, and find a mentor. When you’re not selling, you’re trying to brand yourself, market yourself, etc. Content creation, reaching out to people, etc is the most important way to grow.
Brian uses the latest technology to understand the market. Working predominantly with multi-family homes, his goal is to simplify the process of buying and selling. It is vital to satisfy everyone’s needs as effectively and efficiently as possible.
In real estate, it takes time to develop relations and skill levels. Brian relates it to becoming a doctor and going through different rotations in hospitals. There are so many aspects of Real Estate that need to be explored. This is one of the many reasons why Brian recommends having a mentor to every budding real estate agent.
We had a chance to interview Brian about what motivates him and what he intends to achieve going forward.
Let’s just jump right into it.
How long have you been in real estate?
Brian Ngo: Over 10 years
Why did you decide to become a real estate broker?
Brian Ngo: The most valuable asset to many people is their home. The trust and confidence someone must bestow while someone handles their most valuable asset is immense. Real estate is all about helping people adjust their image, refinance their lives, build their dreams. It’s incredible being a part of their lives in such an impactful way. Real estate is also a great opportunity to manage your own finances and schedule.
What languages do you speak and how does that help you in your line of work?
Brian Ngo: I speak English, Vietnamese and Chinese. This knowledge of language and culture helps connect me to relate and really understand my client’s needs.
Other than real estate, what other things do you do and how does that help with real estate?
Brian Ngo: In addition to being a luxury real estate agent, I am also a content creator. With a background in the restaurant industry and a passion for food, I enjoy building my social platform because it allows me to be familiar with how to promote my craft. Social media is very effective when you’re consistent and willing to put in the work.
What do you do differently that has people gravitate towards you as a real estate agent?
Brian Ngo: I think being relatable and approachable is very important in any client-facing profession. With both business and life experience, people gravitate to the ability to provide information and knowledge to others. Being kind and understanding is the core of how I choose to live my life and treat others. How I act helps others feel comfortable around me.
Do you have a team? If so, How many people are on your team?
a. I have an immediate team of 10 people under EXP, a company that consists of over 60,000 agents.
What is that team dynamic like?
Brian Ngo: We are open with one another and have a universal mindset of achieving the same goal, helping others achieve the most from our services.
What are some things you wish you knew when going into real estate? What would you like to tell someone looking into becoming a real estate agent?
I wish I knew how involved it was. Building your brand and working with clients is something that’s a full-day job.
Find a good mentor/ team leader that’s willing to show you the craft. Money doesn’t come flowing in immediately. It takes time to build skill, clientele and brand awareness.
How do you market homes and properties to potential buyers?
I use different platforms to showcase properties to potential buyers. I’ve mainly used Multiple Listing Service (MLS).
What ways have you tried that did not work and what ways do you swear by?
I would recommend the core basics, cold calling and doorknocking. Starting like this is how you get people to know your name. It’s necessary to plant seeds in the neighborhood you work in. Once people start knowing who you are and what you can provide them, the business will come more naturally.
Do you have an average list price-to-sale-price ratio?
On average, people buy for the full asking price. It usually takes around 45 days to sell a home.
Why do 90% of people fail within the first year? What are some pitfalls some agents go through?
90% of people in real estate fail within the first year because of a myriad of reasons. Financial burden, issues with consistency and lack of guidance can all be factors. These, along with unrealistic expectations, are major pitfalls. If you expect to be extremely successful right off the bat, you’re setting yourself up for disappointment. Maintaining consistency and having a mentor are ways to avoid these professional snags.
Why do you think it’s so important to show your viewers the content creator side of you?
It’s important to show the live point of view so a potential client can see you as someone more than any average agent. First impressions are the most honest and valuable. As a content creator, I am able to present myself to my followers and content viewers.
Are there any stats or figures we can add to make the story more powerful?
In the last 3 months, Our team has closed over 25 million dollars worth of real estate.
What business advice are you uniquely suited to give?
The core values of sales and service are: be available and work hard. Regardless of the industry, hard work always pays off. The more available and willing to put in effort and time, the more you will get out of any professional experience.
What do you want to teach readers? give us detailed examples of how you learned these lessons / What is the key takeaway?
I want to teach readers how to have the freedom to take financial risks. I learn these hard lessons through trial and error. I have been through everything first hand. Every workplace experience has been seen and felt, firsthand. The key takeaway is to look at failure as an opportunity to grow and build for a stronger foundation. The more you experience, the more you learn and the better you can share with others.
Do you have someone you look up to in your field?
Yes, my first broker. I considered him a mentor. He taught me a lot, especially during the time I needed it most. The reason why one of my biggest tips is to get a mentor is because of how much my mentor taught me.
Do people often reach out to you personally for advice?
Yes, and I feel very fortunate because I am so able to give them a sense of calmness with my advice. I am humbled by the fact they trust me enough to guide them through their personal journeys, whether personal or professional.
How many conversations over the internet (or communication with new followers / viewers) translate into deals for you? Is it lucrative to your real estate company being present on social media?
The internet is a vast collection of resources. Viewership is so high and there is always someone who needs a real estate agent. I love being their go-to contact.
Social media is the present and future of any business. Having a presence on social media can only help spread the word about your ventures, goals and purpose.
I can see that you have a lot of passion for what you do. Do you hope for your kids to follow in your footsteps?
My kids are still in the process of figuring out what they have a passion for themselves. All I hope is that my kids can be in a field that is fulfilling for them both mentally and financially.