Fail 7 out of 10 times...and be a Hall of Famer???

By
Real Estate Agent with RE/MAX Professional Realty Group 70735

"Baseball is the only field of endeavor where a man can succeed three times out of ten and be considered a good performer."   - Ted Williams

 

...and real estate too Mr. Williams!

 

This is a great quote by one of the greatest players to ever play the game of Baseball.  I was reminded of this quote and how it applies to being a Realtor while watching the World Series the other night. 

In baseball, one can have a career batting average of .300 (3 hits out of 10 tries) and be a Hall of Famer!  Think about that.  Fail 7 out of 10 times and be a Hall of Famer.  Crazy!! 

I played baseball my whole life.  I was not a good hitter.  However, I do know that good hitting is accomplished mostly from the neck up.  It’s extremely mental.  A baseball player’s mental approach to each at bat is the key to their success. 

Now, let’s apply this to real estate.  If we failed 7 out of 10 times could we still be successful?  If only 3 out of every 10 prospects bought a house from us would we be able to make good money and have a successful career?   I do believe we could.  The key is the mental approach to your business.  Focus on the process, habits and activities that are crucial to generating prospects.  Have the right mental approach with each prospect and you will be a Hall of Famer! 

 

And you never know…you might convert 5 out of 10 new prospects if you have the right mental approach to your business…now you’re not only making the Hall of Fame…your setting records too!!

Posted by

Ryan Rutman

RE/MAX Professional Realty Group

Owensboro, KY

Phone: 270-315-7464

Email: Ryan.Rutman@gmail.comn

Web: www.RyanRutman.com

 

 

 

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Praful Thakkar 10/31/2014 01:25 PM
Topic:
Real Estate Best Practices
Tags:
realtor
success
advice
mindset
real estate
mental approach

Spam prevention
Show All Comments
Ambassador
2,755,526
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

3 out of 10 is good for baseball hitters and they have the target served up to them.  Players are paid whether or not they hit the ball.  They have a job.

Real estate is harder since no one serves business up to us.  We have to do everything ourselves.  We fund our business, manage our business, make the sales, process the transactions to settlement and only them are we paid.

Needless to say, if I could be a major league baseball player, I surely would.

We play the hand dealt us.

Oct 30, 2014 09:35 PM #1
Rainmaker
1,626,680
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

If we were able to convert 3 out of 10 leads to closings, I'd say that would be great!  If we were only able to close 3 out of 10 transactions, that would be horrible.  It all depends on what we're measuring.

Oct 30, 2014 09:41 PM #2
Rainmaker
643,473
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

I guess it would also depend on how many times you get up to bat, 10 a year with only 3 successes would be time to look for another profession, but 10 times a week with 3 successes would make for a mighty fine living.

Oct 30, 2014 10:13 PM #3
Rainer
227,337
Richard Robibero, e-Pro, ABR, SRS
Panorama R.E. Limited - Toronto, ON
Selling Your Home as if it were My Own!

Funny that if I succeed in getting a listing at a listing appointment 9 out of 10 times that one time is going to cause me to lose sleep. Unless I could tell the person was insane in which case I won't feel the slightest grief.

Oct 30, 2014 10:18 PM #4
Rainer
46,140
Scott Webster
William Raveis Real Estate, Mortgage & Insurance - Wilton, CT

An interesting way to look at it, Ryan!

Oct 30, 2014 11:04 PM #5
Ambassador
1,208,334
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Interesting take, Ryan.  I would say that your theory depends on what you consider a prospect.  

3 out of 10 internet leads closed?  Success.  

3 out of 10 pre-approved buyers closed?  Terrible.  

3 out of 10 deals under contract that close?  Even worse.  

3 out of 10 listings sold?  Get out of the business.  

Oct 30, 2014 11:52 PM #6
Rainer
7,131
Ryan Rutman
RE/MAX Professional Realty Group - Owensboro, KY

Thank you everyone for the comments!  I think I need to be more specific about my 3 out of 10 theory though.  I mean prospects that could potentially at any point in time list their house with you or buy a house from you.  So, if in any given year, you meet 100 people who in some way make a committment to you...even something as small as giving you their email address so that you can send them new listings.   To me, that is a prospect.  If 30 of those prospects ended up closing a transaction with you then that's pretty darn good.  Hope that helps clear it up.  

Oct 31, 2014 12:09 AM #7
Rainmaker
2,570,373
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have to go with Lenn...She says..."play the hand dealt to us" and I like that

Oct 31, 2014 12:38 AM #8
Ambassador
2,602,965
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Amanda & Jared, #6 have the right thought for success and failure  We need to be successful with every client we sit down with and if we can't make 3 out of 10 work that's fine, just not the other way around.

 

Oct 31, 2014 12:49 AM #9
Rainmaker
1,939,028
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Thanks for the post Ryan !!! I'm in a 0  for 2 slump this month on Listing Presentations ! *L*

Oct 31, 2014 01:10 AM #10
Rainmaker
566,730
Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
Helping Happy Clients Make Smart Choices

Nice post. I like the analogy. My son and I were talking about the 3 out of 10 batting average just the other day. (My son lives in Kansas City and baseball has been what they live and breathe for the last few weeks). 

I agree, 30 out of 100 is a pretty decent conversion rate over a year in real estate. The only difference to baseball is that we don't have anyone, (think Madison Bumgarner), actively working against us to better our odds. :)

Oct 31, 2014 03:49 AM #11
Rainmaker
688,822
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Just watched game 7 of the World Series. Only game I watched this season. Live in the bottom of the 9th just about every day. Just have to keep swinging.

Oct 31, 2014 05:10 AM #12
Rainmaker
870,265
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

I think I had a pretty good batting average this year.  There was a time I was hitting 100% of the referrals I was getting. 

Oct 31, 2014 05:32 AM #13
Rainmaker
1,561,863
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

If this equated to 3 houses of 10 I've scheduled to show is the one the buyers fall in love with -- AMAZING, GREAT, WONDERFUL

If we have spent 3 months with buyers looking at 10 months worth of inventory and they haven't found a thing -- DISMAL

 

Oct 31, 2014 05:47 AM #14
Rainmaker
720,476
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Why would one give up really that is an odd thing to do.... You never know when that one deal will be the multi million dollar deal or how about all the little ones that add up to a whole lot. 

Oct 31, 2014 06:53 AM #15
Rainmaker
862,853
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Good post, I like it.  When it comes down to it, folks will think about it differently.  In a way this is a game, have fun with it, and try to do your best, and know that you won't win them all.  If you just got several rejections, know a acceptance in not far away.

Oct 31, 2014 07:07 AM #16
Rainmaker
1,317,757
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

"The key is the mental approach to your business.  Focus on the process, habits and activities that are crucial to generating prospects.  Have the right mental approach with each prospect and you will be a Hall of Famer! "  This is so true.

 

Oct 31, 2014 12:18 PM #17
Ambassador
4,307,769
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Ryan Rutman first, welcome to ActiveRain.

Nice comparison - however, we are in a different industry. And 3 out of 10 could be a success and 7 out of 10 could be a failure depending on how big the sphere of influence is.

Oct 31, 2014 01:08 PM #18
Rainmaker
854,276
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Hi Ryan,
Welcome to Active Rain.  One of the things I try to get across to the kids I coach: "Biggest tool they have for success is between their ears". Yes, mental approach is so important.
Mel

Nov 01, 2014 06:09 PM #19
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
7,131

Ryan Rutman

Ask me a question
*
*
*
*