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If you want to be an ‘overnight success’ in real estate, you may have to adjust your expectations.
It takes 10 years to become an overnight success, according to a top real estate trainer, and those who get to the top are constantly looking to the future.
Real estate speaker and coach Josh Phegan says if you are only worried about your next week or even next month, you’re not working to your full potential.
Mr Phegan told AREC 2016 that agents aspiring to be the best in the industry should be “looking for business over the course of the next decade” instead of focusing on urgent listings.
“You have to start where you end up,” he said.
Mr Phegan added that it takes 10 years to become an ‘overnight success’, and it is essential for real estate professionals to focus on the long term.
“When a buyer buys from you, they are in fact your next seller,” he said.
This is why agents who concentrate on long-term business are more likely to succeed than those focusing on monthly profit targets.
Mr Phegan cited Google co-founder Larry Page, motivational speaker Zig Ziglar and The Patron Spirits Company co-founder as his inspirations. He said listening to motivational tapes as a child in the car with his father gave him the drive to build a successful real estate career.
“Get away from the emergency, get away from the scarcity mindset and start building not only great relationships, but most importantly, an impact on people you know,” he urged attendees of the conference.
Mr Phegan believes too many agents worry about hitting their monthly targets and neglect to forge the relationships that will support their business over the long term.
Nurturing these relationships will give your career ongoing support, which is preferable to working reactively.
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