The Hard Truth About Real Estate
We have accepted responsibility to create the highest opportunity for success for you in real estate. By cutting out the time it usually takes real estate agents to lean or "fail forward". Also by learning through the experiences of others, we believe that you can and will be set up for success in this industry. Below is the hard truth behind a career in real estate that many do not share when trying to "sell" you on joining their real estate company.
What it's like
Being a real estate agent sounds fun, looks pretty, and seems to be easy. This is due to the television shows, open houses, and the successful agents who have taken the spotlight. We have all seen the local real estate agent driving around in the luxury car and nice clothes.
The truth behind it all is this career takes a lot of drive, passion, hard work, and a lot of time. In fact, it takes hours and hours of time, and you must love the journey of the process behind the scenes while being obsessed with your goals at the same time.
This is what we call the "dirty work" or the reality of real estate. "Real estate agent" or "Realtor" are titles that we get and most of us get an entitlement feeling from them. The truth is we don't get to be real estate agents until we have mastered being "appointment setters", "salespeople", "telemarketers", "negotiators", "risk takers", "problem solvers", and "marketers" before we get to do what the public perceives as "Real Estate" (showing homes, working with buyers & sellers, collecting commission checks and smiling at the office).
One of the most common mistakes is starting a career in real estate because you are "good with people". Being good with people is not near enough leverage for someone to do what it takes to have a successful career in real estate. In addition, the talent of "good with people" does not offer enough value to become a successful real estate agent. There are hundreds or even thousands of real estate agents in every city/town and your value proposition to the public must be stronger than "good with people".
The next most common mistake is starting a career in real estate because you "like to look at homes". This does not offer value in any sort of way and does not serve others.
Statistics from the National Association of Realtors (NAR)
The NAR shared that 54% of licensed Real Estate Agents NEVER close a deal. They also shared that 93% don't sell at least 6 homes. This isn't enough money to support their own life let alone support a business or career in real estate. These numbers are the hard truth behind the luxury that we all see on television and in the spotlight of the successful real estate agents.
87% of real estate agents fail within the first 5 years of their career.
We have a recipe that can make you one of the 13% who thrives with a successful real estate career. Are you willing and able?
What it takes
It takes a lot of work, a lot of communication and a large investment of time and money into your business to succeed. Below are some of the items we believe it takes to succeed.
Ask for business from people you know and people you don't know
Follow up with leads immediately and consistently
Follow up with contacts immediately and consistently
Put yourself in front of the public as a professional to obtain massive amounts of attention as a real estate agent
Using social media to post, send DM's create ads, etc.
Emailing people consistently
Setting long term & short term reminders and staying organized
Calling 50-100 people per day, leaving voicemails and having 10-25 conversations on the phone
Texting all contacts consistently
Driving traffic to a website with listings
Work 8-10 hours daily and being available and "on call" after hours and weekends
Practicing scripts and using them on the phone, in text, and in writing
Follow a proven business model that works and adapting to it without reason
Tracking numbers & activities for long term and using the metrics to grow your business
Using technology and understanding it fully
Calling leads back even after being hung up on
Calling leads multiple times when there is no answer
Removing all excuses & limiting beliefs
Staying calm in stressful situations
Having high energy