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Real estate is, in many ways, a very simple business. Find people who need to buy, sell or rent and match them with properties. This is a service that virtually everyone needs professional help at some point in their life.
Why do so many real estate professionals struggle to find clients and win business when so many people are moving so often these days, whether it’s because of life or simply because they want to move? Are you doing it?
Many agents are always looking for the magic answer to success, but in reality, lack of success is always tied to a few simple reasons.
focus on the wrong thing
The first is that you end up spending most of your available time doing the wrong thing. Many agents are busy all day long and at the end of a long day they feel tired and even satisfied that they’ve been so busy. The problem is that all of their time is spent on activities that will never lead to paychecks.
Perhaps you worked on a website, took a class, or went to an open house. These may be valuable activities, but they are not income-generating activities.
not trying hard enough
The second reason is that you may not be doing enough of the work needed to get results. We just don’t work hard enough. Sometimes we don’t even realize that we aren’t working hard enough or that our activity level is too low to achieve real success.
Not doing enough is an easy fix. Just figure out what to do and do it. Find a good broker or mentor to show you what to do, coordinate your daily activities, and you’ll be set.
This problem drives many agents out of business because they don’t have enough effort or consistency to get the results they’re looking for. These agents lack the motivation and discipline necessary to succeed. Owning your own business may not be the best path for these people.
5 ways pros do it
Below are 5 pro tips you can use right now to help you become one of those agents who achieve consistent success in the office and ultimately earn the income you deserve.
The magic solution that so many people are looking for is hidden in some very simple things. Actions that anyone can take at any time of their own free will. Why not make today that day?
1. Check your activity level. Successful agents have very high activity levels. They are always working to bring in business. They know that every minute of the day is precious and that wasting time on things that don’t bring in a paycheck will put you off. When you are always doing something and have nothing to do, find something that will make you money.
Pro tip: It takes 40 hours plus a work week to make it happen.
2. Stop waiting to be saved. No one comes. Not a colleague, not a friend, not a broker. This is your business and nothing will happen unless you make it happen. For someone who has never owned their own business, this is a big mindset shift.
If you came into the real estate industry as a full-time employee, you may not be used to making decisions and getting things done. You are an entrepreneur now and the sooner you understand this, the sooner you can start finding success.
Pro tip: Be responsible for everything. Your success depends only on you, not on other people or external circumstances.
3. Start spending money: Like any business, you need to spend money to make money. Real estate is one of the few businesses that can be started with little capital. To run your business right, just like any other business, you need to promote it and give yourself the tools you need to succeed.
Waiting for a chance to come your way and not investing in your business and setting yourself up for success won’t work. You can make a few deals, but you’ll never get off the ground and you won’t be able to start a real business without spending money.
Pro tip: Create a budget and spend the money you need to succeed.
4. Be selfish with your time. We only have 24 hours in a day. We can use it productively, or we can let others take up valuable time throughout our day and destroy our chances of success. If it’s not relevant to growing your business and doesn’t lead to a paycheck, don’t do it during work hours.
Pro tip: Spend your time only with clients who plan to transact real estate in the near future.
5. Create a business plan: Know exactly how much money you want to make in 2025 and do the activities every day to get there. It’s not enough to wake up every day and think about your business. You must set goals and strive every day to achieve them.
Pro tip: Plan your desired income level, goals, and activities for the next 12 months and stick to that plan. Be consistent and persistent.
As you can see, the way to succeed in the real estate industry is simple. So you may be wondering why not everyone is so successful. My experience has shown me that while anyone can succeed in this business, only a few have the discipline to approach real estate work consistently and effectively. Ta.
Like anything else, you have to really want it to happen. You have to want it more than anything else in life.
Stop looking for magical solutions to success that don’t exist and do the work to get to your destination. Remember to keep moving forward even when things go sideways. Never, ever get discouraged or give up. All top producers are just new agents who refuse to give up.
Joseph Santini is a managing broker at Coldwell Banker Realty in Boca Raton, Florida. Connect with him on LinkedIn.
