Even The Lion That Hunts Everyday Misses A Meal
Putting the finishing touches on your real estate course? Ready to work hard and earn a fat check(s)? Well, before you put the deposit down on that luxury Kia, let's examine something they gloss over in real estate school
In this business you can do everything right, and still go long stretches of time without income. How long? Well, that's part of the fun. We really don't know. But in 2024 almost 70% of ALL agents went 365 days between closings. Here are some steps to take to ensure the lion has a balanced diet...
1) Understand real estate sales is the king of delayed gratification--Those positive steps you take today will result in a check, in about 90 days...
2) Have at least three months of bill money in savings at all times-- Why? See item one.
3) Avoid debt like a clown holding a knife and a bottle of whiskey-- I had a vendor tell me that real estate agents were the easiest group to sell to. We are always looking for the next best thing. The sad truth is almost none of the "stuff" will result in closing checks.
4) Prospect every business day, especially when you don't want to-- Doing so will help produce a steady stream of business (and help replenish that savings account. Get it up to six months. Just because Doug told you to).
5) Understand that deals, even "strong ones" can torpedo at any moment-- Circumstances change, buyers/sellers get cold feet, "clients" will disappear. Any of which means your deal went poof. Want life drama? Let that be the deal you were counting on to make things right...And review item 2.
After 17 years of practice I have zero regrets. But boy I would have modified a few things. The good news is even a veteran can read this list and make changes. Of course those won't be rewarded for 90 days. Better review item 2 again...
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