What's Your Big Why?
When you think about success in real estate, your thoughts more than likely go directly to making money...and a lot of it. But there are two things you need to be very clear about.
- Why are you a real estate agent?
- What does success mean to you?
If you don't have a clear definition of why you do what you do and what success means to you, you will NEVER feel successful.
Year after year you may continue to increase your volume goals. If you don't make those goals, you will beat yourself up and feel like a failure. If you achieve your goal, you'll want to increase them the following year. It's almost like a reflex, because that's always how you've run your business.
When you don't have a clear definition of what success looks and feels like, you keep reaching for more and therefore, never satisfied. Never happy and you have no idea when enough is enough.
How Much Money Do You Need?
Have you taken the time to write down your expenses to see how much money you need to live your life?
Do you know how much money you spend in your business? How about how much profit you want to make? Have you given that any thought or are you happy to run a business that breaks even? Even worse, are you losing money every year?
How much money do you need to earn to pay your bills and earn a profit? Write that number down and that becomes your goal.
If you achieve that number you have a decision to make.
- Do you want the maintain that number for the next year?
- Do you want to increase that number based on increased expenses?
- Do you want to increase that number based on a desire to increase your profits?
You're running a business and therefore must start thinking strategically. You can't afford to run your business by the seat of your pants. You need to know your numbers.
It's important for you to know when you've reached a goal and celebrate that achievement.
Changing Brokers
Agents will often chase happiness by changing brokers. The assumption is, if I get a higher split, I'll be happier. The mistake agents make is making the move for money.
Money shouldn't be the driving force because you will still have the same feeling of failure if you don't set a monetary goal.
As the old saying goes, "the grass is always greener on the other side of the fence." But I like to say, " the grass is always greener where you water it."
What are you doing to water your grass?
If and when you decide to change brokerages remember this, "wherever you go, you take you with you." What are you going to do differently at your new brokerage? If you don't have a clear plan, stay where you are and save yourself a lot of trouble.
Money Buys Freedom
Money can't buy you happiness when you don't know how much money you need and what you plan to do with it. Why do you need money?
- To save for retirement
- Care for an aging parent
- Pay tuition for your children
- Contribute to your community
- Travel the world
- Purchase a new home
- Buy a new car
Money gives you options. Freedom if you will. But it's important for you to know exactly what you want to do with the money you earn.
When you know why your are a real estate agent and why you need to earn a certain amount of money, it's much easier to stay focused and do the work. Your "why" is a great motivating factor.
It's time to be more intentional about your goals and your why so you can experience what real happiness feels like.
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To learn what it takes to be a successful real estate agent or to get your real estate business back on track, check out Candy's new book,
"The Reality of Real Estate - The Essential Guide to Planning, Managing and Growing Your Real Estate Business."
Candy, “The Real-Life Realtor”, coaches, mentors and trains new and experienced real estate agents to transform their business by mastering her proven systems for success.
In 2016, Inman News named Candy Miles-Crocker as one of the Top 25 Real Estate coaches in the United States.
She is a firm believer in managing expectations.
Her goal is to elevate the perception of real estate agents among the general public through education so every client has an amazing real estate experience.
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