Being a realtor is more than just showing homes and closing sales. It's running a business. Yet, surprisingly, many realtors fail to realize this fundamental truth. The result? They end up treating their profession as a job rather than as a business, leading to missed opportunities, unmet goals, and, ultimately, failure in their careers. Let's explore why this happens and how to avoid it.
Realtors often enter the field with the mindset of an employee. They expect a steady paycheck, regular hours, and job security. However, real estate is anything but a 9-to-5 job. Sales can be unpredictable, hours can be long, and there's no guaranteed income. When realtors stick to the employee mindset, they fall into a dangerous cycle of complacency that prevents growth.
A business needs a plan, complete with goals, strategies, and action steps. Many realtors skip this part altogether, choosing to "wing it" instead. This lack of planning leads to scattered efforts, wasted time, and reduced earning potential.
Businesses invest in marketing to attract customers. Some realtors, however, think that merely listing a property on the MLS or posting a few social media updates is enough. Marketing is a continuous effort that requires strategy and investment, both in terms of time and money.
Any profitable business understands the value of reinvesting earnings to facilitate growth. For a realtor, this could mean investing in training programs, marketing campaign or hiring support staff. Failing to reinvest is essentially leaving your business stagnant.
Repeat business and referrals are the lifeblood of real estate. Treating each transaction as a one-time deal, instead of an opportunity for future business, is a huge mistake. Businesses prioritize customer service; realtors should too.
Success in real estate requires more than just a license and a knack for sales. It demands the mindset, planning, and execution of a business owner. By avoiding these common pitfalls, realtors can shift their approach from merely doing a job to running a successful business.
If you're a realtor who wants more sporadic success, start treating your profession as your business. Plan wisely, market effectively, reinvest in growth, and prioritize your clients. These simple yet crucial steps will set you on the path to a thriving real estate career.
So, if you're a realtor and you're not treating your profession as a business, maybe it's time to ask yourself: "Isn't it time I started?"
Akevia D
eXp Realty
202-436-0044
IG: Keestosuccess_
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