Silly isn't it? Would you actually loan a dollar out, just to receive the same back? Or How about $500 dollar loan (or investment)... Then in about 5-8 months, you get the $500 back with no return on your principal. Makes you think why bother loaning the money anyways. Interesting concept.
Every so often, I hear agents that think about trying out some new Real Estate service at a cost of $_____. Then in several months, they hope to close one sale so they can break even. Break even? Isn't that the same analogy that I used in the paragraph above? If you wouldn't invest somewhere where you wouldn't make any money, then why are you spending money on something to just break even?
For Example:
Farming for over a year, with no deals coming from the farm. Then, one deal comes in, and you want to make the money from that one transaction and then stop the farm so you feel like you didn't loose any money on the Endeavour.
So how do agents avoid this trap that we all seem to fall into?
Maybe giving yourself longer to see if there is a return?
Sometimes farming can take 2-5 years to see a great return.
Maybe trying things that are proven to be true income earners?
Try things that agents in your office have tried, and saw success... Rather than accepting that thatcall from the telemarketer telling you to try this new system that will guarantee new listings...
Playing Red Light-Green Light with your expenses.
Setting up a budget that you will not go over or go past until you can evaluate the results.
Not expecting results too soon, when you knew it could take longer.
Be sure you know timeframes for your efforts to pay off. A tree cannot bear fruit right after you plant it. It could take years of nurturing, to see the rewards.
For my Active Rain Community... What are ideas that you are using to help overcome things like this?
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