Episode Summary: "From $8 to Real Estate Maven: Lailan Bento’s Journey"
Introduction
In this compelling episode of Escaping the Drift with John Gafford, host John Gafford welcomes Lailan Bento, a renowned realtor from Hawaii, to share her extraordinary journey from launching her real estate career with merely $8 to becoming a prominent figure in Hawaii’s real estate market. Lailan’s story is a testament to resilience, strategic networking, and unwavering dedication, offering invaluable insights for aspiring entrepreneurs and real estate professionals alike.
Lailan’s Early Life in Hawaii
Lailan Bento begins by painting a vivid picture of her upbringing in Hawaii, highlighting the unique multicultural environment that fosters strong community bonds. She notes, “Growing up in Hawaii is beautiful. I think what makes it different is we're all mixed ethnicities” ([02:40]). This diverse and tight-knit community instilled in her a deep sense of responsibility and the importance of taking care of one another.
Her childhood in the Hawaiian Homelands, a region requiring at least half Hawaiian heritage, presented its own set of challenges. Despite growing up in what she describes as a "little bit of a rough neighborhood," Lailan's environment cultivated her resilience and drive. With her grandfather serving as a senator for 30 years, she was exposed to influential networks early on, which later became instrumental in her career.
Transition into Real Estate with $8
After a stint in hotel sales and political campaigns, Lailan made the bold decision to venture into real estate with only $8 to her name. Reflecting on her initial leap, she shares, “I just took the leap and... wasn't sure if I was going off a cliff with the $8” ([03:46]). This humble beginning underscores the significant risk she took to pursue her passion.
Overcoming Challenges in a High-Failure Industry
John points out the daunting 90% failure rate in real estate, to which Lailan responds by emphasizing the essential qualities for success: organization, grit, and self-motivation. She explains, “There's no divas in real estate. It's a hard industry to be in” ([04:17]). Lailan’s candid discussion about the demanding nature of real estate demystifies the glamour often associated with the profession, highlighting the relentless effort required behind the scenes.
Building a Client Base through Relationships
Lailan’s strategy for overcoming her initial financial constraints was deeply rooted in leveraging her existing relationships. With only $8 for business cards, she creatively distributed them across various family and community businesses. She recounts, “My first year... I sold 24 homes” ([06:46]). Her approach was straightforward yet effective: trust and relationship-building were the cornerstones of her early success.
Marketing Strategies and Investments
Recognizing the critical role of marketing, Lailan invested a portion of her earnings into various channels to identify what worked best. “I always tell people this... everything's online. Where are your buyers coming from?” ([20:27]). She discusses the importance of diversifying marketing efforts, from luxury magazines to digital platforms like Zillow and Redfin, adapting her strategies as the market evolved.
Networking Effectively
A significant portion of the episode delves into the art of networking. Lailan contrasts traditional real estate networking with her approach of engaging in political and business circles where her potential clients are more likely to be found. She states, “Hawaii is just business. It's all relationship based” ([24:48]). This intentional networking strategy was pivotal in securing large development deals and expanding her influence in the industry.
Scaling Up through Hawaii Development Group
Transitioning from individual sales to large-scale developments, Lailan co-founded the Hawaiian Development Group. She explains, “We were part of several political campaigns... networking... it just took us there” ([24:48]). This move marked a quantum leap in her career, enabling her to handle extensive projects that required intricate coordination and substantial resources.
Current and Future Projects
Lailan provides an exciting overview of her current projects, including a massive development aimed at reducing the two-hour commute on Hawaii island. The first phase involves constructing 432 workforce homes, scheduled to break ground in December. She shares, “We're building workforce housing... 12,000 people drive every day to that one area” ([35:01]). Her focus on workforce housing addresses a critical need, enhancing the quality of life for local workers and fostering sustainable community growth.
Women in Real Estate and Lailan’s Leadership
John and Lailan discuss the significant presence of women in Hawaii’s real estate sector. Lailan attributes their success to exceptional multitasking abilities, often honed through motherhood. “Because especially if you're a mom, you have to be able to multitask” ([41:37]). This unique strength contributes to their effectiveness in managing complex transactions and maintaining high service standards.
Philanthropy and Community Initiatives
Beyond her business endeavors, Lailan is passionate about giving back to her community. She has initiated a scholarship fund for local Hawaiian kids, reflecting her commitment to providing opportunities for the next generation. “I created a College fund, scholarship fund for local kids... creating a non-profit to help local kids” ([55:20]). Her efforts aim to bridge educational gaps and support underprivileged youth, ensuring that her success positively impacts her community.
Conclusion and Final Thoughts
As the episode concludes, Lailan emphasizes the importance of dedication, strategic networking, and community focus in achieving remarkable success. John reiterates the value of intentional networking and effective marketing, encouraging listeners to adopt these strategies in their own ventures. Lailan offers her contact information, inviting those interested in Hawaii’s real estate market or seeking mentorship to reach out.
Notable Quotes
- Lailan Bento ([02:40]): "Growing up in Hawaii is beautiful. I think what makes it different is we're all mixed ethnicities."
- Lailan Bento ([04:17]): "There's no divas in real estate. It's a hard industry to be in."
- Lailan Bento ([06:46]): "My first year... I sold 24 homes."
- Lailan Bento ([24:48]): "Hawaii is just business. It's all relationship based."
- Lailan Bento ([41:37]): "Because especially if you're a mom, you have to be able to multitask."
- Lailan Bento ([55:20]): "I created a College fund, scholarship fund for local kids... creating a non-profit to help local kids."
Key Takeaways
- Resilience and Grit: Success in real estate requires unwavering determination and the ability to navigate through challenges.
- Relationship-Building: Leveraging existing networks and cultivating new relationships is crucial for building a robust client base.
- Strategic Marketing: Investing in diverse marketing channels and adapting strategies based on effectiveness can significantly impact business growth.
- Effective Networking: Engaging in areas where potential clients are present, rather than conventional real estate events, enhances networking efficiency.
- Scaling Thoughtfully: Transitioning from individual sales to large-scale developments demands strategic planning, strong partnerships, and effective resource management.
- Empowering Women: Women bring unique strengths to real estate, particularly in multitasking and empathetic client interactions.
- Community Engagement: Giving back through scholarships and non-profit initiatives fosters community support and long-term sustainability.
Final Thoughts
Lailan Bento’s journey from an $8 investment to a real estate maven in Hawaii exemplifies the power of resilience, strategic relationships, and community-focused initiatives. Her story offers a blueprint for aspiring realtors and entrepreneurs, emphasizing that success is achievable through dedication, smart networking, and a commitment to making a positive impact.
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