First and foremost, we’ll begin as we should by saying Happy New Year and best wishes to all of you who’ve chosen to join us here at Real Estate Leads. The promise of a new year and all the possibilities that come along with it will always be exciting for any self-employed professional. Real estate agents of course are no exception there, but those who will get ahead will continue to be those of who’ve built the foundations of their business more solidly.
So while there’s no intention to start the New Year on a sour note, it’s worth discussing why certain real estate agents fail to have success in the business while others flourish. The fact that you’re here does suggest you’ve got the initiative to leave no stone unturned in building your business, but let’s have a look at 10 specific reasons why some real estate agents flame out of the business – and usually rather quickly at that.
- They Refuse to Prospect – Or Prospect Sufficiently
Many people subconsciously learn to associate “no” with not getting what they what. That can be a real negative mindset, because – as we all know – real estate is a numbers game. Too many real estate agents say they aren’t in sales, and more that they just want to help people. While that’s fine, realtors that want to increase their business have to work through the numbers and that applies to the ‘just want to help crowd’ equally as much
If you are going to have success in real estate, you have to prospect. Extensively. There’s a 99% chance that what you’re doing currently isn’t enough. Don’t be complacent.
- They Don’t Follow Up
Follow-up is everything in real estate. It’s rare and almost unheard of to hear someone say “Yes, I want to buy or sell a home immediately! Let’s make that happen pronto!”
Follow up with EVERY one of your leads with the same level of enthusiasm, and pair that with a firm understanding that the majority of leads that you’ve deemed to have ‘gone cold’ aren’t necessarily as cold as you think them to be.
- They Don’t Get Past Downturns
It’s quite natural and far too easy to wallow in how bad a situation is and make negative forecasts based on them. Some professions allow for you to do that without major negative ramifications. Real estate – plain and simple – isn’t one of them.
- Losing an escrow
- Having a client suddenly say they are going to work with another agent
- Getting a remonstrative letter from the municipal or provincial real estate regulatory department Having a client yell at you
ARE going to happen at some point. Letting them get to you and making you second guess yourself or be more reserved in the way you approach growing your business can be majorly problematic in the long term.
Keep moving, deal with the situation, and do the best you can to remedy it. If you have given everything you can into turning it around or finding a solution, move on and do something else that’s productive. Too many realtors fail to adjust to these setbacks properly and for some it changes their psyche irreparably.
- They’re Not Affirmed Enough in their Decision to be a Success
Real estate is not a complicated business. You find people who want to move from one place to another, and assist them in that process. That said, real estate is NOT an easy business.
Yes, if you talk to (the right) people, be genuine in your approach, and have a proactive plan of follow up, you’ll likely do well.
What makes real estate difficult for many is related to their inherent perception of what difficulty is. The excuses for it are as endless as they are true; because of the economy, the market is bad, too much competition.
The best agents resolve to be a success no matter what obstacles they come across. They focus on what they’ll gain when you they do well, and then hold themselves to that expectation.
It starts first and foremost with your mindset, but your discipline, stamina, determination, a personable attitude, and the ability to ask people the right questions are super important too, along with a do-whatever-it-takes mentality, perseverance and genuine resiliency.
Quite simply – how badly do you want it?
- They Resign Themselves to Real Estate being ‘Too Competitive’
More and more commonly these days, there are just too many realtors working in a specific city or region with not enough of the pie to go around sufficiently. That is what it is, and it’s not likely to change if that describes your locale. Everyone there knows probably five to seven realtors, maybe more.
Successful realtors – and ones that make it through the beginning stages of their career – accept that reality for what it is and simply determine that they’ll do what it takes to overcome that competition as it poses an obstacle to their success. If you are great, clients are going to find you. They focus on building their skill base, cultivating relationships and associating with other like-minded professionals.
Do so effectively and the ‘weight’ of the competition isn’t going to be dissuading at all. If you’re truly good at what you do, you’ll be doing all the right things to allow that fact to distinguish you from other professionals in your field.
Sign up for Real Estate Leads here and receive qualified, online-generated leads delivered to you each month exclusively and for your exclusive region of any province in Canada. Contact us to learn more, and we wish everyone much success in the coming year.