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Is there a secret formula for success in real estate?

19 October 2016 Hannah Blackiston
Secret formula for success in real estate

What sets top agents apart from those who only enjoy moderate success? What else can you do to be the best in your field?

BresicWhitney director William Phillips started his real estate career hoping he would discover the secret formula to take his career to the ‘next level’. It didn’t take him long to realise that success boils down to hard work and playing the long game.

Speaking to Tom Panos at AREC 2016, Mr Phillips said when he first started he would attend conferences in the hope that someone would give him the key to making quick money in real estate.

“I’ve been to these training seminars every year and I think a lot of people, including myself, would turn up and hope that there was some sort of secret formula or message or trick that would compel you to get to the next level,” he said.

But even during those early years of his career, Mr Phillips knew that prospecting and building a database was how he would become successful.

“To me, prospecting is the key to the Holy Grail,” he said, adding that since he began his career in real estate, he has aimed to make 100 calls a day.

“I don’t make 100 calls a day so I can find a listing. If you make 100 calls a day and you want to find an immediate listing you’re going to go home and be depressed every day of the week.”

“People need to understand that it’s a very long burn,” he said.

Meanwhile, Mr Panos said agents who expect prospecting to turn up instant sales are comparable to “the person that does a sit-up and then rushes to the mirror to see if it worked.”

“The most important concept that you’re going to get [at AREC] is the concept of delayed gratification,” he said.

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Is there a secret formula for success in real estate?
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