Change Your Mindset

By
Real Estate Agent with Alotta Apartments

     Some of the highest paid professions are lawyers, doctors and salespeople. The amount of college for an attorney is about seven years. The amount of money most law grads have to pay back is outrageous. Let's not even discuss doctors. These professions have years of schooling and their tuition is usually in the 200K point by the time they graduate, (if they didn't get a scholarship).

The Realtors that fail, usually are the ones that stop training at the 40 hour course. They are usually the one's that feel $200 bucks for the real estate course and $100 bucks on business cards are all the money they should have to spend to start their real estate career.

What they did'nt tell you in your 40 hour sales course was you are the CEO, the President, the BOSS of your own business . The amount of training you choose to take, the amount of money you choose to spend on you business is usually relative to how much you will get in return.

Our mindset can either make us or break us. I believe that having a "CEO" mindset is most of the battle.  A CEO knows the following:

  • It all starts and stops with them. No one is to blame for their business but them.
  • They MUST evaluate themselves to figure out how to get better.
  • They don't make excuses. They are solution driven.
  • They have to train and practice to get better.

 

 

Brooklyn Real Estate

 

 

 

 

 

Comments (50)

Jodi Kevern
Arizona Focus Realty - Gilbert, AZ

Good point!  In Maricopa county, Arizona, there are over 70,000 agents but only 4000+ closings.  That means that no more than 4000 of the 70,000 have been working their business successfully.  It is hard to be your own boss, responsible for your time commitment but it is important.

 

Aug 29, 2007 03:29 AM
Rick Turner
Key Realty - Toledo, OH
Puts People In Their Places!!

Malika,

Your point is well taken!  I have been contemplating investing a substantial amount of money in a new web site.  My line of thinking is that there are many in our industry that will be pulling up stakes and looking for greener pastures considering the market we're in.  Because I am the CEO, of Rick Turner & Associates, I've decided to keep investing in the business that I know and love!  Isn't America great!  Great post!! 

Aug 29, 2007 03:34 AM
JR Sangiuliano
CENTURY 21 JRS Realty - Clark, NJ
Great post this is the same thing I tell my new agents the very first time I meet them.
Aug 29, 2007 04:23 AM
Karen Inch
Kenmore, WA

What amazes me is there is even less training for loan officers.  And, in a lot of states, they don't even do a background check.  These people are giving their loan officer enough information to steal their identity and they don't know what their background is.

I am lucky to work for a Mortgage Banker who invests time and money to educate their loan officers.

Well said, Malika!!!!

Aug 29, 2007 04:37 AM
Christy Powers
Keller Williams Coastal Area Partners - Pooler, GA
Pooler, Savannah Real Estate Agent
Great post. It is so true.
Aug 29, 2007 05:07 AM
Eric Bunn
Dallas, TX
Great post!  This is my first year in the mortgage industry and I realized right away that I can't just take my few hours a day with my mentor and expect success.  I need to remember the "overtime" I put in to getting my engineering degree.  I had no problem doing extra work for that and I am still paying for that learning experience and in this business I can actually make money.  Why wouldn't I learn as much as I can about my business!
Aug 29, 2007 06:45 AM
Sean Guerrero
Century 21 Action Realty - Eugene, OR
Great Post Malika I too take training and further educating myself seriously. I try to emphasize this with new agents that come to work in our office. It is an ongoing learning experience
Aug 29, 2007 07:57 AM
Anonymous
Anonymous

Sooo on the money, Malika! Let's take this a step further. Ever heard of discount doctors, discount lawyers? No, in fact, a recent article in the WSJ stated that some lawyers have broken through the $1,000 hourly rate barrier.

There is no other profession in which the initial educational requirements are no reflection of what the profession actually requires if you want to be a really serious practitioner. Imagine, an attorney saying my flat fee is $500 and what you get is your problem posted on a local attorney membership site for other attorneys to help you.

Aug 29, 2007 09:21 AM
#38
Gerhard Ade
RSVP Real Estate - Seattle, WA
What sets me apart, will set you apart.

Sooo on the money, Malika! Let's take this a step further. Ever heard of discount doctors, discount lawyers? No, in fact, a recent article in the WSJ stated that some lawyers have broken through the $1,000 hourly rate barrier.

There is no other profession in which the initial educational requirements are no reflection of what the profession actually requires if you want to be a really serious practitioner. Imagine, an attorney saying my flat fee is $500 and what you get is your problem posted on a local attorney membership site for other attorneys to help you.

Forgot, I hadn't logged in - Gerhard 

Aug 29, 2007 09:24 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"
I couldn't agree with you more.  What surprises me even more is that some of the agents I meet even passed the 40 hour course.  My husband and I have 30 + years in this business and we still "go to school" to upgrade our skills.  Nowadays, if an agent sends us an incomplete contract, we give it back to them and tell them to review it with their broker.   
Aug 29, 2007 09:58 AM
Pamela STETSON
Berkshire Hathaway HomeServices Abbott Realtors - Mahwah, NJ
I would love to help you buy or sell your home!

You are soooo right. Good for you! Continuouse improvement, lifelong learning and putting the responsibility directly on your own shoulders is a lesson....that some people never learn. Thank for sharing and for the reminder! Happy Selling. Pamela

Aug 29, 2007 11:47 AM
Dan Weis
Comey & Shepherd Realtors - Cincinnati, OH
Cincy Real Estate Advisor

Hi Malika,

You're right on this post!  I believe Realtors should have more than 30 - 40 hours of training before they are let loose on the public.  We are handling most consumer's largest financial investment and I'm often amazed at how little some agents know.  They should have to have more knowledge.  I also would like to see Board and MLS dues increased, because then a lot of part-timers and unmotivated agents would leave the real estate business.

Aug 29, 2007 04:17 PM
Michelle Roland
Phil's Locksmith - Sacramento, CA

DITTO and AMEN! Change the way you look at things, and the things you look at change.

 

Aug 29, 2007 04:43 PM
Tania King
CIR REALTY - Calgary, AB
Great Post, and so true.  On going education and training is a must in so many areas when in business for yourself, not to mention the real estate business on top of it. 
Aug 29, 2007 04:57 PM
Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
RE/MAX Commonwealth - Richmond, VA

Great post Malika. Well said. I believe Realtors should have more than 40 hours sales course. Training, training, and training to be better realtor.

 

Aug 29, 2007 05:31 PM
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY

Very good post. Success in this business starts with good attitude and a good foundation in training. Of course it does not end there, service and professional needs to be part of the formula as well.

** Congratulations on achieving a Featured AR Post. **

Aug 30, 2007 12:47 AM
Malika Cumbie
Alotta Apartments - Brooklyn, NY
Thank you all for your comments. They really made me feel good. :)
Aug 30, 2007 01:19 AM
Luke Constantino
Brooklyn/Manhattan Real Estate - Brooklyn, NY
Residential/Commercial Real Estate Brooklyn NY
Weeeeooo!!! :-) :-) :-)
Aug 30, 2007 09:02 AM
Gary Bolen
McCall Realty - South Lake Tahoe, CA
CRS - Lake Tahoe Real Estate Information

Malika, We agree and think this is a very good post. Congrats on being featured. We wish you more to come.

Also want to thank you for taking your time to comment on the crest charade we did earlier this week. It was most appreciated.

Sep 01, 2007 04:04 PM
Diane Velikis
Coldwell & Banker Busch Real Estate - Luzerne, PA
Luzerne County Real Estate
So true! It's all about stepping out of comfort zones and WORKING!  Great post
Sep 02, 2007 04:09 AM