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What does it take to succeed in real estate? I’ve learned a lot in my first year in real estate, and those things have made me a better person and a better real estate professional. I’ve shared the first 22 lessons I’ve learned throughout the years, and now, For the third part of this series, I’ll be sharing with you the last 11 lessons I wish I had known when I started in real estate to save you some time, heartache, and misery.
Number 23: Don’t go alone. You might think that you can achieve success in this industry alone. I can tell you that if you want to go fast, go alone, but if you want to go far, go with others. Egos and rivalry in this industry can be overwhelming, but it’s a win for everyone if you’ve found some good people to help you succeed.
Number 24: There is no inspiration in perfection. Avoid people who talk about themselves without acknowledging their failures. Authentic people aren’t afraid to be vulnerable, and this can be a source of inspiration to others. Perceived perfection is inauthentic. Remember that nobody is perfect, no matter what they post on social media.
Number 25: Prioritize listing. Listing real estate is the long-term game. I focus on listing properties and let my team handle buyer transactions. I distribute buyer transactions and give them the recognition they deserve when they close a deal. This allows me to focus on my strengths and avoid spreading myself too thin.
Number 26: Increase your skills. In this dynamic industry, everyone should be open to acquiring new skills to effectively adapt to developments and changes. Practice your newfound skill and allow yourself to grow.
Number 27: Review your goals daily. Make sure your goals align with who you are and what you desire rather than just focusing on money. It is also OK to change your goals to ensure that you are moving forward and not falling back.
Number 28 & 29: Set appointments in the afternoon. If you cannot set an appointment in the morning, schedule some in the afternoon. Don’t wait until the next day to meet potential clients.
Number 30: Schedule matters. A structured schedule can help remind you what you should be doing and whether you’re on track with your goal. It also helps reduce stress and manage your workload.
Number 31: It’s okay to not know everything. Don’t be too proud to ask questions, especially during your first two years in real estate. Asking questions and listening to other agent’s advice is one of the best ways to learn.
Number 32: Commit to full-time work. We are free to do what we want with our time, but if you’re serious about real estate, you should commit to it full-time. When your client needs you, you must be there to answer them because they deserve your full attention and commitment. Working part-time doesn’t work in real estate in the long run.
Number 33: Focus on take-home pay. Take time to check your money to figure out your profitability and actual split. Compute your percentage by getting your check and deducting your expenses, brokerage fees, and everything else. Once you have a figure, you can strategize on how to increase your earnings at the end of every month and year.
That’s a wrap for this series of things I wish I knew, starting in real estate. I hope you found these lessons helpful and apply them in your journey as a real estate professional. As always, if you have any questions, feel free to give us a call at (406) 552-4443 or send us an email. We’ll be happy to talk with you.
