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I have decided to stop building other people's businesses

By
Real Estate Broker/Owner with Zion Realty

I've been a hard worker my whole life. My dad started teaching me the value of earning a dollar and the benefits of a good work ethic by paying me to run. When I was a young girl I had what you might call an attention problem. I couldn't be relied upon to focus on any one thing for very long before my mind was racing and my attention was off to other more important subjects like whether or not my cat needed to be put in the refrigerator because it most certainly had to be hot underneath all that fur. So to help me with my lack of attention span my dad began to challenge me to running contests. He would pay me $.50 for each mile I ran up to ten miles. If I reached the ten mile mark he would then change that $.50 to a whole dollar. 

At the time I thought my dad was such a sucker. No way was he smart enough to know he was playing right in to my hands. I was young and filled with endless energy. Didn't he know I would have ran all those miles without even being paid? Every single day I ran up and down my street playing with friends from sun up to sun down. Now he's going to pay me for simply keeping track of the miles that I ran each week? Little did I know his master plan. He was secretly teaching me how to set and achieve goals from an early age. He was quietly instilling in me lessons on how to be disciplined. 

As an adult I have built upon that work ethic. I have succeeded in almost every professional avenue I've ever ventured down. But one thing I've learned throughout the years is that people often like to take advantage of those who have a strong work ethic. There are those who will simply ride the coat tails or jump on the backs of the individuals who will put in the long hours and the hard work it takes to become successful. I've been on real estate "teams" in the past where only myself actually carried the weight. I've been with brokers who refused to negotiate a better commission split with me in spite of me being one of the top producing agents in the office year after year. Both of those scenario's caused me to cut ties and move on to better situations that allowed me to actually benefit from all the work I was putting in instead of padding other people's pockets. 

But above all, the one group that has taken advantage of my work ethic the most has been investors. I've worked tirelessly and relentlessly for investors who fell in love with the results I produced for them but never wanted to pay me more than a hugely reduced, discounted rate for my services because after all, if it wasn't for their investment dollars and buying power I wouldn't be making any money at all. 

I have single-handedly built up entire investment firms who started out as nothing but a group of individuals with a bank account and zero properties, to owners of hundreds of rental homes and fix-and-flip properties. I have overseen tens of millions of dollars worth of investment land acquisitions only to have the investors turn around and use someone else when it came time to subdividing and selling off each individual lot. Last year alone I played an essential role for a group of investors in developing a system for purchasing bulk sale bank-owned foreclosures as a non-profit entity only to have them sever ties with me when it came down to actually buying the properties. 

So this year I made one of the best decisions I have ever made in my life. I have decided to stop building other people's businesses for them. I know my value and worth in this industry. I cut my teeth in this industry much like many other's who came before me, by getting up every morning and putting in the work. When I got my Brokers license two years ago and started my own firm it was the beginning of my awakening. No longer will I put in the long hours and grinding days so that someone else can win the race ahead of me and take the trophy that should have been rightfully mine. I won't be carrying anyone else across the finish line of a race that I ran. Of course I still take great pride in working hard for my buyers, sellers, and even still investors who I feel will compensate me for what I'm worth. But gone are the days of me building empires only to get left outside of the gates. 

Thanks to Grant Schneider for hosting the March Contest: What Have you stopped doing in 2015".

Comments(42)

Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Good for you, Nicole.  When you have passion and drive, you can often achieve more by being the owner and being extra choiceful w/ your time.

Mar 27, 2015 09:51 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Kudos Nicole.  

Mar 27, 2015 10:03 PM
Odaly Victorio
Team Victorious at Keller Williams Realty - Jupiter, FL
Marketing Expert

It seems like you understand the definition of insanity well.  Good for you for know when to stop.

Mar 27, 2015 10:19 PM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

One of the smartest things you can do in business and life is study what is working and what is not.  Then focus on what is working and stop doing or change what is not working. 

Mar 27, 2015 10:46 PM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Tom - I'm a natural people pleasure so it's hard for me to not let people take advantage of that.

Linda - Thanks Linda. I'm glad you enjoyed reading it. Thanks for stopping by.

Grant- Thanks for hosting the contest this month Grant.

Bob - I've had one of the groups sell off most of their rental portfolio already (without using me I might add).

Troy - I can be loyal to a fault but being burned last year was a turning point.

Laura- It is wrong. I have no problem working hard for clients. We're in the people business as real estate agents but I'm done working for those who only look at me as a money generator for them. 

Paul - Thanks Paul. I like getting to share and learn with others here in the Rain!

Jill - Oh I've already gotten emails from one of the investment groups this year about a "great opportunity" they want to bring me in on. Yeah, the opportunity is for me to work hard for them so they can make a ton of money and pay me pennies on the dollar. 

 

Mar 28, 2015 12:41 AM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Tom - It took me a while but I finally hit my breaking point. 

Michael - My efforts will now be squarely focused on my own brokerage.

Conrad - I wish it would have been sooner but at least I finally saw the light.

James - I just hope I have the wisdom to realize if I'm getting myself into that sort of situation again. 

Dorie - Who knew our parents were actually trying to teach us things instead of just being old and boring. 

Edward - There are a handful of things I would/will do different and negotiating to be a part of the investment profits would be one of those things.

Debbie - I am resolved to do a better job at picking who I work with now. 

Mark - Hey Mark. Thanks for stopping by. I appreciate it!

Odalay - I got burned one too many times but I finally learned my lesson.

Rob - Getting taken advantage of definitely does not work for me!

Mar 28, 2015 12:48 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

I don't doubt for one second that you will succeed!  That's a great thing to stop doing....great choice!

I love your father's lesson, what a brilliant and loving dad!

Mar 28, 2015 01:55 AM
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

Nicole Doty - Gilbert Real Estate Expert - They always do seem to make their way back, don't they?  To quote Nancy Reagan "Just say no" and I know you will if you bother to return the call.

Mar 28, 2015 02:36 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Atta girl, Nicole. And, I love this business - we work hard and love what we do - and make money while helping people. 

Mar 28, 2015 03:00 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nicole

2015 will be a year that you shine . . . .  and all of your goals are within your reach.

Good luck and success.

Lou Ludwig

Mar 28, 2015 06:15 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Nicole, Good for you and after reading your post I am confident you will make a lot more money without these cheap investors.

Mar 28, 2015 09:25 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Nicole, great entry for the contest and glad you see your worth!

Mar 28, 2015 11:11 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Nicole, you're worth every penny of that hard-earned commission. Those investors will be sorry they short-changed you.

Mar 28, 2015 12:58 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I think, it is very important to constantly edit and adjust your business. If something does not work, toss it away and move to a more productive activities.  It is ok to give up on things that has no meaning for us.

Thanks for sharing yours!

 

Mar 28, 2015 06:45 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Nicole, That's one of the most frustrating things about this business.  You can bust butt for someone for months, MORE than earn your full paycheck, then have them pay someone else when it's crunch time.  Some people just have zero integrity. 

Mar 28, 2015 10:27 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Good for you Nicole. Isn't it a good feeling knowing you have arrived and don't need that business? I had a similar situation a couple of years ago and told the investor I would not be working for him. He agreed to do it my way and it worked for awhile. But his true character came out and he wanted to do it his way (sneeky) and we parted ways last fall. I was glad to see the business go, so much less stress.

Mar 28, 2015 11:04 PM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Sharon - He's taught me many of those lessons even still as an adult.

Jill - I didn't even respond to the email. 

Debb - None of us mind working hard for our clients but working to build someone elses wealth while mine takes a backseat will no longer happen.

Lou - I'm locked and focused on growing my brokerage this year and grow it I shall!

Bob - I'd much rather work with buyers and sellers who truly appreciate the hard work and effort I'm putting forth for them.

Rebecca - Sometimes it takes us a second to realize when we're being taken advantage of but I finally did in all of those situations. 

Tammie - Some of them are figuring that out now that their business models are stalling out and I'm not there to save them. 

Inna - Whether it's working under past brokers or for investors, we should always be evaluting if a situation is in our best interests. 

Bliz - It was pretty infuriating to find out that one group subdivided a huge parcel of land and sold off each lot with someone else. 

Debbie - It is A LOT less stress not working with people who are constantly looking to take advantage of you. Good for you!

Mar 29, 2015 12:52 AM
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Your dad was a wise man and those who stiffed you and left you out of the deal will only reap badness. Youare not going to get favor by doing things wrong, period. You great days are coming up so hang in there it will continue to get better and making that mvoe was wise

Mar 29, 2015 09:58 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Good  for you, it takes a special person to take the leap of faith I have seen more than a handful here on Active Rain and they all succeeded! So best wishes from Los Angles, Endre

Mar 29, 2015 11:16 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Nicole, you made a decision that will bring forth positive results. Regardless of the paycheck, some clients will suck the blood out of us. Time to build your own empire!

Mar 31, 2015 01:53 AM