With a 90% failure rate, becoming a Realtor sure has its challenges and one of them is turning a Lazy Day into a success. I don’t care how many people you know or how good a salesperson you think you are, if you don’t take the time to plan and implement you will never become part of the 10% that survive in Real Estate sales. The other one is actually working and not lying to yourself that you are producing. Selling Real Estate is like starting your own business but with just 1 product line…..kinda. Selling Real Estate is also very difficult to the unmotivated and lazy, since there is always another Realtor that will outwork and out network you to succeed. So below are a couple of don’ts that if avoided you will gladly miss out on many of the mistakes that many Realtors make early on.
Fake Work: Work is work and acting like you are working is not work. Working is apply a business plan and strategy to grow your business based on goals and expectations. So saying you are working but instead you are “brainstorming” or sitting in front of your tv, is counterproductive. And will make you go broke.
Not Sell: There are 2 ways to get a client in Real Estate. 1 is to be asked by a buyer or seller to represent them in their Real Estate transaction through a direct referral or blind call. 2 is to convince someone that you are the number one choice for this same task. Guess what? They both require direct selling and the first one is not reliable. You have to always be taking your brand to your potential clients and ask them for business. If you don’t sell someone else will.
Fake Network: Networking is the greatest tool and activity to gain direct referrals from people that know and trust you. It also takes a lot of planning and commitment. Networking out of your market or with others that will not influence your business is such a waste of time. That is called a social life and in no way should be viewed as working or growing your business. This is hard for many to accept because with a 90% failure rate, it seems as though Realtors already have a hard time succeeding.
Expect Business to Show Up: My favorite for sure. I love spending time with a new Realtor as they seem to have an endless amount of it. They are “not selling”, “fake networking”, “fake working” and now they are hanging out with other Realtors expecting a deal to come along. In Real Estate and most other businesses a deal is earned the majority of the time. To think that because you are out having a lunch with a buddy and his kids or playing words at the park is going to create a lead, you are kidding yourself. Stop expecting people to consider you at that final moment and work your plan. Work your plan, Sell your plan and Teach your pears about your Plant through strategic networking. This is what makes every other business success so why not a Realtor?
Listen, I know I sound critical a lot and target Realtors but when a 10% success rate has become acceptable and my Realtor friends don’t seem to be making as much money as they should, it concerns me. Working is part of every great business and unless we Realtors start taking that seriously we are continuing to open ourselves up to the competition and even worse, extinction. Go Work!