Nick Marr is a cutting-edge real estate entrepreneur who owns several major websites. He recently talked with us about his amazing journey to success. I’m delighted to share his Q and A session below:
- Q: Can you tell us more about yourself and your companies?
- Q: How’d you get started in the real estate industry?
A: In 2000 creating websites was a hobby, I created my first website and helped sell a friends home with it. I was paid half of what an agent was going to cost my friend and realized that I could make money online. I enjoyed writing articles and my site grew in size and so did my real estate portfolio. Lack of money meant that gaining organic traffic was key and I made Google’s algorithm my number obsession. This resulted in me challenging well funded websites and when one of the largest UK based websites asked to meet me I knew I was on to a winner.
- Q: It looks like you have a variety of experiences to bring to the table (digital media, real estate, startup assistance). What’s the best thing about what you do?
A: The best thing is turning a concept that is not making money into a business that employs people and adds value to users. My own experience has meant that I am good at squeezing revenue out of a business.
- Q: With so many new advancements in digital marketing, what would you say is the most important thing that startups should be aware of?
A: Creating multiple streams of income for a business and avoiding all your eggs one basket is my number one piece of advice. Never rely on one single member of staff, supplier or stream of revenue. Always imagine that the part of your business that generated the most income has gone and that you need to survive without it.
- Q: What are some of the biggest challenges that you’ve faced? How, did/do you rise to overcome those challenges?
A: A business that can no longer afford to employ some employees who have worked really hard is a massive challenge. The overall good of the company versus someone’s livelihood is never easy. Honesty, transparency and help towards their future is the way I have dealt with these situations.
- Q: What’s your most notable achievement?
A: Winning a business from a global entertainment business for a brand new start up from a cold call. The business it generated helped the start up become associated with a huge established company whilst generating revenue for a number of years.
- Q: Are there any up-and-coming trends in the real estate industry?
A: Mixing agents and homeowners on the same website has been a challenge in the UK. Estate agents and many of the major portals have created an atmosphere where these two would not mix. I can see the trend changing with TheHouseShop.com and for agents to see FSBO as valid competition against their own business models.
- Q: Any insider tips for people who are looking to purchase property in Europe?
A: Think currency planning on any purchase, don’t be victim to rate changes that could cost you thousands. If you are buying abroad and in another language never sign anything you do not understand. Always think about who you can sell your real estate too before you buy.
- Q: Do you have any success tips for aspiring entrepreneurs?
A: Think big, think numbers and what they could all add up too. Don’t be afraid to see what others are doing and copy it or make it better. Users feedback is a gift and if your model is not providing what they want be prepared to adjust it.
This is a guest post that is a part of our new interview web series. Featured Entrepreneurs are interviewed and talk about their experiences, journey to success, and overcoming challenges.