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Are you really in the Real Estate Business?

By
Managing Real Estate Broker with Howard Hanna Real Estate Services

Floyd Wickman is one of my favorite Trainer/Coach/Speaker. My recent Agent/Broker News featured his series "I Quit Real Estate" with the best line ever for struggling agents "If your commissions aren't paying your bills, don't get out of the real estate business, Get into it!"

So are you really in the Real Estate business? Are you running a business or just hanging on to a dream?

If you really want it, then the solution is simple; act like a successful business person.  Do the things they do, think like your in business and work every day to ensure the success of YOUR business.

There are lots of self-help business leadership and management books on the shelf - they should be on your shelf. If this is a stretch for you then start small, literally...small!  I still remember the first book I received when I got into Real Estate.  It was a while before I actually read it, and boy that was a mistake! It was energizing and lit me up with all kinds of ideas - man was I pumped!  You probably even have it; OG MANDINO's "The Greatest Salesman in the World." I also subscribe to any email newsletter I can find about Real Estate, and if they turn out to be no good I just cancel them. But you never know where that next inspiration will come from, so the more input the better your business will become. The best technique to build a library or a list of newsletters is to peek in the office of your local top producer or even the broker/manager and see what they read.

Many of us (me included) got into Real Estate to enjoy the flexibility of being self-employed. But too often we re-define flexibility to mean unstructured, unfocused, unprioritized, unproductivity! In my experience top producers don't wait for things to fill up their schedule, they schedule and plan things to happen, then go out and do them! Don't be afraid to plan out your week.  Monday should always be a day of collecting feedback from last weeks showings, and follow ups and thank yous for showings and Open House visitors. Wednesdays and Thursdays should be for setting up time for active buyers to see homes Friday and Saturday - get to them before they ask you, you'll be better able to manage your time that way.  And ALWAYS, pre-plan at least 2 or 3 listing appointments, then make them happen.

The success or failure of your business rests completely on your shoulders, no one else. Engage all the resources around you, the web, your broker, manager and trainer, even the top producers in the local market. You should search the web routinely for new insights, and consult your broker, manager or trainer for ideas and coaching - ask them to hold you accountable for your own success. Make friends of the top local producers. Visit their Open Houses and show or preview their listings and give them prompt, straight forward feedback, then ask some probing questions. Get their opinion on some issue you've seen (like this one) and let them tell you how they feel about it.

But most of all, act the part of the successful professional business person you need to become.

Show All Comments Sort:
Eric Egeland
RE/MAX SUBURBAN - Libertyville, IL
SFR, e-PRO, CDPE

Thanks for the post Jim.

I'm with you...you need to make things happen to be successful

Aug 11, 2008 06:31 AM
Brendan Cooke
Passport Realty, LLC - Baltimore, MD

Jim,

A lot of good points, and a great attitude.  Those that put their noses to the grindstone are flourishing right now, it's the ones that are watching the phone and wondering why it's not ringing that are really struggling.  The "flexibility" that you speak of is certainly a challenge, and I like your idea that each day has it's own tasks every week.  I operate with a flexible schedule to accomodate appointments, but I have a list of things that must get done EVERY week.  The only real flexibility that a successful realtor has, is that they can make as little money as they'd like.

 

Cheers,

 

Brendan

Aug 11, 2008 06:35 AM
George Tars
PalmHomes LLC - Palm Beach, FL

motivational CDs and books are an excellent source for accomplishing your goals... I like Tim Robbins, Brian Tracy, Stephen Covey and a few others ... on a P2P file system sharing you can even download their audion CDs for FREE ... try http://www.isohunt.com you will need to download a Torrent client software first before you start downloading the CDs. good luck

Aug 11, 2008 06:35 AM
Carey Pott
January Financial - Foothill Ranch, CA

The right attitude can make all the difference. It's almost like the mental reinforcement that athletes use. Just keep picturing those successful sales and off you go!

Aug 11, 2008 06:43 AM
Irena (Esphir) Popilevsky
RealEstateSINY.com - Staten Island, NY
NYS Licensed Broker/Owner . Short Sale Specialist

Actually Floyd Wickman is a great trainer/speaker as a maater of fact I am currentlry is in training and this is my 9th week. and I have to tell you that his stuff are really good and they really work.

Aug 11, 2008 06:44 AM
Jim Gainer
Howard Hanna Real Estate Services - Hershey, PA

Floyd is also one of my favorite comedians. His tapes and CD's crack me up. 

Irena, you picked a great trainer and a great system to build your business - I wish you much success!

Aug 11, 2008 06:49 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Jim, I think this is the only business where folks feel they should have all this free time right out of the gates. Real Estate just like any other business requires lots of work and long hours. It's only after years of hard work that we are able to enjoy freedom. I've been doing this successfully for 14 years. I have one plan and it's very simple.....I get up every day and go to work.

Aug 11, 2008 10:52 AM
Jim Gainer
Howard Hanna Real Estate Services - Hershey, PA

Amen to that Bryant! Get up and go to work. And nothing beats having a good prospecting plan to work on. If I don't have an appointment with a client, I'd be prospecting. Always keep a stack of flyers on hand that you can (tailor to a neighborhood) ready and hit the doors for an hour or so. Or run through a couple dozen sphere calls with "hey I was just thinking about you and wanted to catch up..." work in a good success story of yours and encourage them to share a success with you. DO SOMETHING...oh, sorry didn't mean to shout...lol

Go make it a great day everybody!!!

Aug 12, 2008 01:30 AM