Agents over-complicate the recipe for success in real estate. Put simply, an agent’s success is determined by their commitment to repeat a handful of meaningful tasks daily. Being disciplined and consistent each day, each week, each month, and each year is hard – however, it’s critical to real estate success.
Agents spend far too much time looking for the next technology solution, the latest marketing concept and the next lead generation system. In the end, real estate transactions involve people – our business is driven by relationships.
From my 20 years of selling, I believe the following 10 habits and behaviours are key to real estate success:
1. YOU are a business
Many agents think they’re here to sell houses. They’re here to run a business. It’s all about the correct mindset.
2. Embrace a planning mindset
If you don’t have a plan, then you are likely part of someone else’s plan (usually the successful agent’s plan).
3. Make managing yourself a priority
Building a business is not easy. You must learn how to manage yourself, especially in the area of time management, ongoing
real estate business training and balancing your work and personal life.
Real estate is a 24/7 business, much like any small business. However, it’s important not to lose sight of your personal life, including family, friends, physical health, etc.
4. Control your environment
You have complete control over whom you choose to associate with, how you choose to feel and how you react to situations! Having great people around you and a positive attitude are assets that money can’t buy.
5. Find a mentor who you can talk to
Associate with champions to help mature your own champion mindset. Going it alone is not easy. Take the time to find a mentor who can steer you around some of the obstacles and help you through the ‘peaks and troughs’. If you have the resources, you may wish to hire a real estate coach or an executive coach who specialises in small business help and sales.
6. Grow your database
Agents let hot leads slip through the cracks all the time. The most important question you should ask yourself at every meeting with a client is, ‘Could this person be someone who I can do business with in the future?’
It amazes me that agents choose to spend so little of their time on the one activity that generates most of their income – prospecting!
Remember, ‘listing is king’. The agents with the stock make the commission.
8. Develop a fee for value mindset
Ensure that your ‘performance fee’ is very clear in your mind before you present it to your client. Many agents have loose fee standards. Clients easily work out if you have loose fee standards, and what ends up happening is you are pressured into devaluing your service to get the listing.
We work in a people business and there is no substitute for real communication – in person or by phone. Most sales do not occur because the seller didn’t want to sell; they fall through because the agent failed to educate his or her client prior to the
10. Think like a winner
Perhaps the most obvious characteristic of the high performing agent is their natural desire to win. They believe in themselves and have the self confidence that steers them to success.