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It's Not About The Money...

By
Services for Real Estate Pros with RE/MAX Executive Realty - Happily Retired 104763

 

 

Lou Ludwig wrote a post this morning titled “Making Money” and I thought I’d share my thoughts on this topic.  The greatest mistake any real estate agent can make is to focus on money.  We often hear people talking about the “big bucks” we make, and this often becomes the main goal of newly licensed agents.  The goal of making “big bucks.”

That goal is certainly a realistic one, but if one’s main focus is to make money, it’s not likely to happen.  The path to that “end result” is to establish goals that will garner you a very healthy income.

To newly licensed agents and seasoned agents who have not been guided properly, the only way to reach that ultimate point in your career is to establish a path.  Design a journey, and focus on that goal of making the phone ring. 

The path that you create may be to target buyers; or to focus on listings; or to capture your share of both.  Whatever you design or establish for goals, make those goals your target. 

Never think about the money.  It’s the wrong focus.  The money is “the prize” at the end, after you reach your goal.  The goal is to make the phone ring and close the potential client.  When all of that happens, the money will be there.  The money always follows, but we cannot spend time thinking about it.  It’s counterproductive.  Think only about how you’ll satisfy the goals you’ve established every year.  Read Lou’s post.  It’s a winner.

Posted by

 

 

Barbara Todaro, Great Grandmother to Caleb, Santino, Aiden and Gianni       

Todaro Team - Retired

508-918-9148

               

             Copyright © 2009 - 2021 Barbara Todaro

                               All Rights Reserved



 

Comments(53)

Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Barbara I have to say this is the best explanation and advice I have EVER heard regarding this topic. I hear from many new and established agents who talk about the money and soon they all find themselves short of it. 

Apr 13, 2014 11:17 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

its relevant we can all agree however one must create their own value to attract it

 

Apr 13, 2014 11:22 PM
John Jonas
ReplaceMyself - Virtual Assistants - Highland, UT
John Jonas

Well, I would say that in the real world, it's hard not to think about money when you're starting. I think this is the main motivator why we want to work hard. Yeah, it's work, it's not like we took a career to do charity right away. Money, whether we like it or not, can also be perceived as a measure for success, especially when you're starting. But I should say that as time goes by, we should also evolve and grow as a person.... and be able to realize that it's not just about the money... Once we reach that level, a level wherein we have proven our worth then I think it's time to pass it forward... only by doing this can we be completely successful in our lives.... Money can be a good ally but also can be the worst enemy... so it's a matter of not drowning yourself into it... rather share the wealth... share the kindness... share your success to others....

Apr 13, 2014 11:31 PM
Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Good Morning and this is a grea thought!! keep up the good work and good luck with your business,  E

 

Apr 13, 2014 11:39 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Barbara, Great advice! I see too many 'chasing the money' and that inevitably does not end well. I have always  believed that if I do a fantastic job for clients, the rest will follow and that includes referrals.

Apr 13, 2014 11:57 PM
American Brokers Realty Group
American Brokers Realty Group, Inc - Cape Coral, FL

Nice thoughts and so true

Apr 14, 2014 01:28 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

BARBARAT- I  agree!  If you only focus on the money, people can also see that.  I read an "it's all about the $$" recently and didn't 't sound like the kind of agent I would want.

Apr 14, 2014 01:38 AM
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Like any profession, if you are only looking at the money you will probably not be very good with the public and this is primarily a referral business.

Apr 14, 2014 03:21 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Very well stated Barbara.  And that can be applied to most all endeavors.  When money is the only goal, we can lose focus on a lot of things. 

Apr 14, 2014 03:33 AM
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I agree, this is very good advice.  Focusing on the activities that will produce contracts getting signed with the end result being the check is definitely the name of the game.

Apr 14, 2014 03:57 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Barbara, so true. While the ultimate aim is the dollars, building a respectable model and working it will bring in the clients, and that wheel will continue to generate a revenue stream.

Apr 14, 2014 03:59 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Every one of us has family and business expenses. As  professionals we do expect to be payed for our knowledge, experience, assistance.

Apr 14, 2014 05:45 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

In talking to NAR leadership they estimate that only 2% of our million members make $250K or more. Recently our state association health car group was disbanded because it didn't meet minimum ACA standards. Some REALTORS® were eligible for $250 a month subsidies. It is a sad commentary on our industry that we continually throw new agents up against the wall to see if they stick. Much more nneds to be done in education and yes it is not about the money nor is about the number of hours of ed required, it is about the quality of what we are teaching. New agents are lucky to get a broker like you but I don't like this being about luck.

Apr 14, 2014 05:51 AM
Jason Potrzeba
Home Loan Investment Bank - Warwick, RI
Senior Account Executive

Great reminder that the titles on our business card doesn't state "Makes Big Bucks"! There is a job that is done and depending on how well it's done, money follows after the job is complete...

Apr 14, 2014 05:53 AM
Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

It isimportant to identify key activities and to remember that you can't manage what you don't measure.

Apr 14, 2014 07:39 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

I agree completely.  I did not enter the career for the money.  I am not successful because of the money.  I do not go to work every day for the money.  I do it for the people that I have the opportunity to meet and represent.  The people are what keep me in the business and the trust and financial well being that they are placing in my care is important to me.  Whether it be to get a seller the most that I can in the current market or a buyer the best price for the home that best meets their current needs, it is never about the amount that I am paid to accomplish that goal.  Great post.

Apr 14, 2014 01:18 PM
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

Wow, this was very informative, thanks for this post today and as is the norm I'm looking forward to the next one...... Liz

Apr 14, 2014 01:42 PM
Jordan Gouger
Keller Williams Realty Inc. - Austin, TX
Helping you to achieve your housing goals!

I think that if an agent places service and their customers needs about anything else, money will follow. 

Apr 15, 2014 12:12 AM
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

I agree with you Barbara - Agents should concentrate on the number of appointments they need to get deals, whether it's sellers or buyers - What is an agent doing to get in front of clients? Service is job and we must find those to serve and then the money will come!  thanks for sharing!  I always enjoy reading your posts.

Apr 15, 2014 02:43 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I've known agents who went after high dollar listings because of the money - even though they didn't care for the "high dollar owners." What a mistake!

Work with the people you like, so you enjoy doing your job - the money will follow.

Apr 16, 2014 03:29 PM