In life, there are so many requirements
, like being considered an adult at a certain age, and being a certain height to get on roller coasters, but what about professionally? In the real estate field, there’s a lot of ground to cover, and you have to know about many different areas. There are legalities, codes, understanding negotiation and being a sales, business, and connection developer. You have to have all of those tricks up your sleeve and also work on finding new leads and helping your business grow by maintaining yourself top of mind.As mentioned before, there are so many moving parts in real estate, nuances that many don’t even know about, and these issues can be impossible hurdles if you’re not ready to balance them. This is why there’s a high failure rate for real estate professionals, statistics say that upwards of 80% don’t achieve success because putting in the effort necessary to maintain their business is constant
. We’ll go over a few of the issues that hinder many professionals in this line of work:
I’m going to make so much money! It’s true that real estate can be an extremely lucrative venture, but you have to build from the ground up. You’ll need to focus and work day-in and day-out for up 6 to years, face a litany of rejections, and actively prospect for several hours a day. You’ll also have to stay on top of and learn continuously of new updates in the market with consistency in order to get to the place where you will be seeing your imagined revenue.
I get to keep all my commissions. This is not always the case, and you will need to find a firm that has a great value commission split. Working with an office that has a high valuation of your time and offers you a decent commission structure is key.
There will be so much free time. You are allowed free time, but if you’re partaking in it, you won’t be making too many sales or prospecting for clients effectively. If your goal is free time, you will have a low income, and building your business will suffer. You should leverage your “free time” to build up your business, work on sales strategies, and prospect clients.
I’ll have so many clients. Real estate is constantly in flux, and keeping that top of mind is something that is essential to keeping your pipeline flowing. Your best bet is to separate 3 hours a day, at the very minimum, to prospect clients and increase your reach-outs to people within your sphere of influence to keep your amazing service and care top of mind. This is a simple strategy to keep yourself relevant at every stage of your prospects’ buyer or seller journey.
Instant success here I come! Instant success is always thought to people entering the business, but it’s not a guarantee. It’s not an overnight process. Again, you will likely have to be working upwards of three years to gain success. Keeping yourself relevant, prospecting, and continuing to learn more about the trade daily.
NextHome Merrick Realty Group
has a great partnership with The CE Shop
, offering all you need to continue learning the real estate trade and evolve your client offerings, while always keeping the best practices and savings that benefit your professional development. This partnership also helps our team and followers learn more about real estate while saving money on your education and licensing.