5 Reasons You Won’t Make it Selling Real Estate
Unless you are fully committed to real estate and have a solid business plan, you will have trouble finding success.
In this article we discuss five reasons people don’t make it selling real estate. We’ve all seen them, heard of them, and felt bad for them. Although some of you reading this may be on the verge of becoming one of them if you don’t make a change.
So here are five reasons you won’t make it selling real estate:
1. You are “trying out” real estate.
The notion of trying something out speaks to a lack of commitment. All too often, someone will decided to sell real estate because they see the success of another real estate professional, but what they don’t see are the years spent doing floor time, holding open houses for other agents, and working nonstop, seven days a week.
Many people focus too much on the results and not enough on what it takes to get there. Everyone wants to have a best-seller but nobody wants to write the book. Making it selling real estate takes more than interest; it takes full commitment. Luckily, a real estate career does not require your life, but some would argue that it does require a piece of it. If you can’t fully commit to real estate, don’t waste your time.
2. You aren’t coming from a position of strength.
More times than none, many agents get started in real estate with the best intentions and even the strong work ethic needed to succeed long term. If you are lacking the financial stability to get started, you may find it a tough go.
It takes time to build relationships, create context, show houses, and go though the process of a transaction. Real estate is not like most careers where you will receive a paycheck two weeks after starting. Worse yet, it is not uncommon to have a couple of properties under contract only to see them both fall apart. This can be crippling when you were depending on them to pay your bills.
Do yourself a favor and don’t sell properties full-time until you either have six months of living expenses saved in your account or you are in a situation, such as living with your parents, where you can keep your overhead very low.
3. You don’t believe that you need help.
This type of thinking runs rampant among the personality types who get into real estate. They’re generally the type of people who don’t want to have a boss, and believe they can do anything they put their mind to. There is some truth in that statement, but everyone needs help from somebody. The quicker you realize that, the better off you’ll be.
Think about it this way: Most people’s issue is not that they don’t know what to do, it’s that they don’t do it.
Needing other people goes beyond coaching, though; it’s also in the organizations that you join and your level of activity within your local, state, or national real estate association. Many times practitioners don’t gain business by going to these events, and in many cases, they could be right. But it’s not just about that. It’s about the level of community that you create. This is important because, when people feel community, they don’t feel alone, and when they don’t feel alone, they feel a common purpose, and when they feel a common purpose, they gain identity, and when they have identity, they will do things they wouldn’t have done before.
They say you can judge the level of success someone will have on this Earth by the number of awkward conversations they are willing to have. You are more willing to do the things you don’t want to do (like prospecting) when you identify yourself as a person who does those things. For example, most people don’t wake up in the morning and say, “I want to cut down trees today,” but when you identify yourself as a lumberjack, it’s just what you do no matter how you feel. Identity matters and community helps gets you there.
4. You don’t have a plan.
Can you imagine stepping into the kitchen for the first time and trying to make a cake without knowing any of the ingredients? It sounds ridiculous, but that’s exactly what you do when you try to start a business (and that’s what selling properties is) and you don’t have a plan to follow.
Your e-mail doesn’t dictate what you do every day, your plan does. If you are in this business and you don’t have a plan to follow, you can go to Sales Coach Jared James’s website and download a template for free.
5. You get bored too easily.
Real estate has and always will be a business where personal relationships matter, yet we have become so addicted to our phones that we have actually learned how to be completely alone and isolated in a crowded room. When we aren’t checking for e-mails, updating our status, or talking on the phone, we are playing games and scrolling for an app we haven’t opened in a while. Stop it!
Learn to batch your e-mails and only check your phone at certain times of the day. Refocus your energy on what actually matters, which is following your plan, making contacts, setting up your automated systems, educating yourself, staying motivated, and sustaining real relationships with real people. If you aren’t deliberate in what you’re doing, you’ll find yourself wasting time before you know it.