10 lessons in 10 years as a Realtor
Ten years in this crazy business has taught me a few tough lessons, and here are my top ten!
There is ALWAYS a NEXT. I once had a week where 5 deals all fell apart. 5! This was early on in my career. So naturally I had already banked on the money, pretty much had it spent. Ouch! But one of the greatest gifts of real estate is that there is always a NEXT. A next deal, a next floor call, a next client popping up out of the blue needing to sell or buy. Yes, it still stinks when a deal falls through. But just say NEXT…because more will come, I promise.
You never REALLY get a day off. I hate to tell you newbie’s this, but no, there isn’t really ever a day off. Maybe you think you can take a week off from real estate for that family vacation, but you will find that even with the most adept agent covering your business, you still need to check in and make sure there are no fires to be put out. I have taken plenty of “serenity” days as well. But the phone will still ring. The email lead will still come in. It’s going to be up to you if you heed the call or not. I am not saying I work Christmas day or anything like that. We should ALL set limits that work for us. But don’t fool yourself into believing you can take time off and people will respect that. People don’t care! And I don’t mean to be harsh or scare anyone, but if someone is concerned about a purchase or sale, they are going to call. And hopefully, you will answer.
I DON’T DISCOUNT!! Admittedly, I used to. As an agent, you are faced countless times with this question…”Will you reduce your commission?” And yes, I have. But I don’t any longer. I used to do it out of fear. Fear the client would drop me and get another agent who would accept such terms. Fear the deal wouldn’t close. Fear I would lose future business from the person asking for a cut-rate fee. But I think with time comes a turning point. A point in which you realize more business will come. A point where you KNOW you are worth every darn penny, and probably more. A point where you aren’t afraid to lose to another agent on such terms, because upholding YOUR OWN standards means more to you than just one deal.
Don’t do it yourself – save your butt! – From pure experience here…if a client tells you to sign something, ANYTHING, on his or her behalf, please take heed. DON’T! Just don’t do it. Make the trip to get the signatures. Whether it is a block away or halfway across the state. Fax it, email it, snail mail it. Just do it! STOP being lazy or thinking it doesn’t matter. Maybe it doesn’t this time. But sometime it will. And you will be so happy you made the extra effort.
Nothing is as obvious as YOU think it is. I have good friends that I like to spend time with on the weekends. I don’t talk about work because they know what I do. I know what they do. It’s supposed to be downtime for heavens sakes! I think it’s pretty obvious what I do and that if they know someone who wants to buy or sell, that they would mention my name. NOT SO! What we do for a living is not as obvious to others as it is to us. People forget. People don’t realize that we continually need to be bringing in new business and need those referrals. Don’t be a pest to your friends, but DO remember to remind them now and then that you are still in real estate, and appreciate referrals.
Be honest. Seems like this would be an obvious one, but it isn’t always the case. Just be honest, and it will take you far. I once read a contract wrong and quoted the seller a much higher net price than what was really the case. So, I fessed up. I also paid the difference, because it was MY goof. But those folks have referred me so much business over the years because I was honest. We are human, and we all make mistakes. Fess up, fix it, and move on. And sleep much better at night my friends.
Family and friends are going to screw you over. –It’s best just to learn this as early on as possible, and save yourself a lot of tears. Some will do it unintentionally, and sadly, some will do it knowing full well how it will affect you. If you do real estate business with family or friends, it WILL happen. It’s a hurt like no other, let me tell you. There will always be folks that don’t quite GET what we do, how we get paid, or anything else. Friends and family are NOT immune to this.
Your spouse and kids will support you (sometimes)! – I have two teenagers and a husband of 19 years. When I started this, my youngest was 3. My family has supported me and been my own personal cheering section through good times and bad. BUT, sometimes even they don’t quite “get it”. That even though I have taken the “day off” to go to the water park, I might still have to answer a call. That even though we are in Disney for the week, I will have to take a few moments time out to check in at home base. That sometimes Mom is home and available for days on end, and other times Mom isn’t even around to cook supper and take out is as good as it’s gonna get. But they try. And I love them for it!
A good office, a good BROKER, will take you far. Don’t be afraid to make changes. At ten and a half years in, I am at my third office. When I started real estate, I was with a company I couldn’t ever imagine leaving. They were my family, so to speak. But it became a sinking ship, and I realized this almost too late. I lost money because I was afraid to change. My switch last year to my current company wasn’t as fraught with emotion. I knew this time it was a good choice. And I am now off to the best start in a New Year of my entire career. Don’t be afraid to change. The support of a good office and the training and back-up from a good broker are PRICELESS. Not just to your business but to your LIFE. Weigh the pros and cons of moving. But above all, listen to your gut.
You will LOVE real estate. You will HATE real estate. Maybe this is just me. I have had moments where I questioned with every fiber of my being what the he%$ I was doing in this business. I think this question came up around the time of 2006-2007, the market crash. I have also had moments of exhilarating highs, where no drug in the world could make me feel as good as real estate made me feel. I have had clients I honestly couldn’t wait to be done with. Where I would cringe seeing their names pop up on my phone. And more often than not, clients I love, who have become friends and folks I truly have a bond with. I have loved the sound of my phone ringing. And despised my phone with every fiber of my being. I have had clients lie to me, leave me for another agent, and even try to sue me (unsuccessfully I might add!). And I have had clients cry from happiness; give me flowers and gifts, and even clients who became best friends. And I can’t wait to see what the next ten years holds…
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