The biggest reason real estate professionals fail is their lack of trying. Lack of trying to educate themselves, both professionally and personally. Lacking of trying ways of investing money in their business. Lack of trying to create or find a good prospecting system. Lack of trying to follow up with past or potential clients. Lack of trying in virtually every facet of their business.
So there’s a very simple formula to success in real estate, and in any walk of life:keep trying.
I’ve always liked the following ancient story as a lesson in trying. The story tells of a master who was leaving his home to travel. Before leaving, he gave each of his three servants different amounts of his money to invest in whichever way they chose. Money in those days was measured in talents.
When the master returned home from his travels, he asked his servants to account for what they did with their talents. The first servant reported he was given five talents, and through his efforts he’d doubled his money and made five talents more. The master commended the servant’s industriousness, gave him more responsibility in his job, and invited the servant to celebrate with him.
The second servant had received two talents, and he had also doubled his money through his efforts. The master praised this servant, also giving him more responsibility in his job and inviting him to celebrate with him.
The third servant had received one talent. But he reported to the master he buried his talent in the ground to keep it safe, knowing his master was a hard man, because he feared he would lose it. The master scolded the servant, calling him wicked and lazy, telling him he should have at least put the money in the bank so it would generate some interest. The master took the talent away from the third servant and gave it to the first servant who had 10 talents. The master then said, ”Everyone that has much will be given more, but whoever that has a little, even the little that he has will be taken away.”
Most new real estate professionals are like the third servant. They’d rather try to play things safe and take their time with their business because they value security, comfort and peace of mind above all else. So when the trying times come, they soon stop trying, and so they fail. If they just made the ‘try’ principle the foundation of their business and their daily life, they’d eventually have overwhelming success in so many ways.
I’ve used the following quote before in my blog, but it’s worth quoting again:
“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan Press On! has solved and always will solve the problems of the human race.”
J. Calvin Coolidge,
30th President of the United States of America
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