Are you running your business like a business..?

By
Real Estate Agent with Keller Williams Realty

There's something my Team Leader used to always say that has really stuck in my mind.  She would ask agents, "Are you running your business like a business or are you chasing transactions?"  Weird question to ask a Real Estate agent, right!??  Most agents get into Real Estate because they think it's "easy" and a quick way to "make money without actually having to do anything."  It's people with this mindset that make this industry have the revolving door it has.  I believe the statistic is that 86% of people who get into Real Estate drop out their first year.  CRAZY!!!

So what makes an agent stick it out and see an increase in their business year after year and what makes an agent get out?  I think one of the key factors for getting out is the agent who gets sick of the Real Estate roller coaster.  What do I mean by this?  I mean the agent who has fantastic highs and stomach-churning lows.  The agent who has 6 transactions in one month just to have none the next two.  It's a roller coaster in their business that is exhausting and leads to early Real Estate retirement - the time to look for a "real job."

Most agents I come across are only looking towards their current business - the few transactions they have in title.  I always ask, "Well what about after that?"  You'd be surprised by the dumb-founded look they have on their faces as they ask, "Well what do you mean?"  If we only look to the current business we have, we are literally unemployed once those close.  To stick around in this business you have to always, ALWAYS, be planning 90-120 days out.  It's about touching your database, staying in front of your sphere of influence, being a lean mean lead generating machine, announcing to the world that you are a Real Estate agent and you want, no, you NEED their business.  If you're afraid to announce you're an agent and scared to let people know you want their business, let me save you a LOT of money and depression, you are in the WRONG business!  You have to plan for tomorrow and stop just looking to today.  You have to run your business like a business or that is exactly what you will not have!  Getting into Real Estate isn't sleeping in, working from home in your pj's, waiting for the phone to ring.  It's getting up early, getting into the office, and putting in, at the very least, 3 hours/day of lead generating time, then moving on to the task at hand.  If you do this consistently (with an emphasis on "consistent"), you will see an increase in your numbers year after year.  Real Estate isn't a part-time/side job, it's a career with unlimited possibilities.

So I ask you, are you running your business like a business?  And if not, are you going to now??

Posted by

Britney Elizondo

Buyer Specialist, REALTOR® | Vicki White Homes | a team within Keller Williams Dallas City Center | www.vickiwhitehomes.com

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Rainer
127,875
Lisa Ludlow Archer
Live Love Homes-Keller Williams, Charlotte, NC Ballantyne Area - Waxhaw, NC

Britney,

Great post. I say the same thing too my friend. I could never be an undercover agent. I am too out there trying to help others who NEED me. Have a great week!

Oct 25, 2010 08:52 AM #1
Rainer
93,371
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

We are in the marketing business to get our clients to the real estate business. It is and always has been the lead generation business.  Good points.

Oct 25, 2010 09:01 AM #2
Rainmaker
635,993
Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

Great post! I am hitting the 'Suggest' button.

 

Oct 25, 2010 09:06 AM #3
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Rainer
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Britney Elizondo

Your Dallas Home Buying Specialist :: 940.453.5308
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