The Rules of the Game

Although the practice of real estate is laced with many consumer laws and licensing laws, there are rules of the game that are not specifically statutory rules or written laws.  For example, there has always been a rule that says if we don’t have anything good to say about someone or something, we probably should keep our mouths shut.  In the real estate industry, this rule is important because just as sure as you say something negative about another real estate agent, it will somehow come back to haunt you.

Additionally, the Golden Rule has always been promoted by the National Association of Realtors® as the best way to do business.  Many is the time when a real estate agent mistreats another agent, only to find it coming back around and mistreating the original offender.  The rules of the game are clearly defined in the Golden Rule, treat others the way you hope others will treat you.  Even if others don’t treat you well, you have an obligation to treat them well and eventually, it will come back to you.

The rules of the game also tell us to never disparage another real estate firm or its agents.  When the market is good, sometimes this rule of the game gets broken out of desperation on the part of some agents.  We are seeing lots of competition today, especially for listings, and it could be tempting for an agent to disparage another agent or another firm if that agent or firm offers a lower commission, offers more incentives, or is willing to do more than you are.

I must tell you the truth here.  You are going to lose some of the listings you try to get.  You are also going to win some of the listings you try to get.  The practice of real estate has rules of the game that have never changed:  What goes around comes around; you win some, you lose some; and you reap what you sow. 

So how do the rules of the game affect you?  If you treat people well, if you are honest in your dealings, if you are fair to everyone, including competitors, if you have integrity, sooner or later your efforts will pay off.  No one goes through life unscathed and we all suffer loss, but conversely, no one goes through life without gain and we will enjoy achieving something we strive for. 

I worry about new licensees getting caught up in the game without proper training, proper motivation and proper words of wisdom.  I’ve seen new licensees jump in and begin making fast money, so fast that they don’t learn consistency and all the rules of the game that pair up with a real estate career.  The rules of the game must be obeyed to gain long-term success, so new licensees out there, please pay attention.  Get yourselves trained properly and apply the rules of the game to your own practice.

If you don’t yet have a real estate license, let TEAM Hughes Real Estate School help you so that we can teach you some of the rules of the game.