One of the first things I learned in real estate is that there are an enormous variety of ways to spend your money on this business.  As soon as you get your license, there is someone there trying to sell you something.  At first I spent a lot of money on what I thought were must haves.  I know I must be one of the most gullible people out there and each time I think I've learned my lesson, I spend on something new.  I bought post cards, personal brochures, talking house, leads, calendars, note pads, and training, training, training.  I can't believe it!!!  Thank goodness I've sold enough to pay for all of this.  Sometimes I feel like this is an expensive hobby instead of a business.  And I have to blame myself for all of it. 

So why am I even writing about this?  First of all, to admit once and for all that I've spent way too much money on things I don't need.  Second, to warn others, newer agents, not to get caught up in buying things to improve business. In reality the answer is, create a plan and work it.  And third, perhaps if anyone else has done the same thing, they can write and commiserate with me.  Then we can make a pact not to spend another dollar without thoroughly thinking it through.  A 24 hour cooling off period would be good.  If you still think you need the items or service after 24 hours, chances are it is a good purchase.

So, if anyone out there wants to admit to being gullible like me, and spending too much on business stuff you don't need.  Or if you've had bad, or even good, experiences with what you bought, write and let us know about it. 

 

14 Comments on Don't turn Real Estate into an expensive hobby.

NOV
18
2007
What an honest blog!  I believe that we have all wasted money in this business.  Vera, you're definitely not the only one.
10:07pm • #1
234,187 Points 15 Featured Posts Outside Blog

I use all of the magnets from the calendars to put on the back of the notepads that I hang on my fridge and use for grocery lists. <tee hee>  Nice reminder not to jump on every bandwagon, Vera.  Wish someone had told me this when I was new.

10:08pm • #2
123,183 Points Outside Blog
Agents need to become better consumers.  Too many agents are susceptible to every pitch that comes along, whether it's someone selling leads or SEO services.  I agree that it's best to think things over before buying.
10:09pm • #3
I agree, I too have bought things that seemed like a good idea at the time, and I can't tell you how many things now sit in my basement, because I am too embarrassed to even give them away.  It is crap (excuse the word), but worthless.  I wouldn't even use it, nevermind try to convince someone else to use it.  I now, when the sales people call, tell them I don't buy anything until I see a picture of it first, and most times, I don't have a problem getting off the phone now.  They don't have a picture to send, or won't send one. I've saved a bunch of money this year.
10:19pm • #4
234,953 Points 2 Featured Posts Outside Blog
Vera you should have been in Vagas, I think they even tried selling the kitchen sink.
10:39pm • #5
1 Featured Post Localism Sponsor
I'm a little disappointed that you didn't write this blog a long time ago...would've saved me some cash! 
10:44pm • #6

Vera, I have not spent money on those magnets, and other goodies. If I had more sales, I probably would have. Going through my first 16 months as a Realtor with only two sales has really humbled me.  So I will take your advise, chuckle and say "There for the grace of God go I"  

I thought those magnets with my face on them would be a good value!  You mean they are not!

I love learning from all of you so willing to make yourselves vulnerable for us newbies to gleen some truth.  Thank you for the reminder. 

10:53pm • #7
I think we have all spent money where we shouldn't have. As the old saying goes "you learn from your mistakes"!
10:54pm • #8
Yeppers we have all been down that road. But I bookmarked this for a reminder.  Thanks
11:00pm • #9

Hi Vera!

I am definitely guilty of over spending on training, seminars, leads and so on.  I believe the reason why we purchase these seminars and training is because we are looking for the big one that is going to blast our career.  What Realtor is going to tell me what I need to survive in this business for free (I wish I would have known about AR before buying some of these products).  So I educate myself as much as possible.

Thank you for the great blog!

11:06pm • #10
NOV
19
2007
517,799 Points 35 Featured Posts Localism Sponsor Outside Blog
This is a thought-provoking post to keep in mind as we prepare our 2008 plans. Do I really need to re-order that item? What returns did it generate for me in  2007? I think most of us will find that just applying solid, disciplined business practices will lead to a successful 2008, without all of the extra expenses.
12:39am • #11
161,801 Points 3 Featured Posts Outside Blog
It was like that when I received my notary commission. I started getting all kinds of brochures for notary supplies. Some of it can be useful. A lot of it is just kitsch.
10:00am • #12
Thank you to all who replied.  I feel better knowing I am not the only one to spend on products and services we don't really need.  Sorry I didn't write this sooner for those who already spent.  And I'm glad I could be of service to those I cought in time.  I was able to say "no thank you" to yet another lead salesman today and I felt really good about it.  Unfortunately we know there is no magic bullet, but we keep hoping we will find one anyway. 
7:31pm • #13
MAY
30
2008

Thanks for the post Vera.  I have been following your advice, and haven't purchased any "education products" since last October.

5:29pm • #14

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Vera Gleason

Riverside, CA

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ReMax All Stars Realty

Address: 6809 Indiana Avenue, Riverside, CA, 92506

Office Phone: (951) 774-1317

Cell Phone: (951) 334-6002

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