Success: Luck and sweat
Diary of a Real Estate Rookie
By Alison Rogers, Tuesday, March 31, 2009.
Flickr photo by Kelley Mari.The No. 1 business book in the country is "Outliers: The Story of Success," the new book by Malcolm Gladwell, author of "The Tipping Point." "Outliers" is basically a collection of weird little scholarly studies and anecdotes strung along like pearls on a necklace, arguing that it's smarter to be lucky than it's lucky to be smart.
Lyrics from "Pippin" aside, Gladwell spends a lot of his time indicating that a strong factor in success is that the seed finds fertile soil -- as in his story of the kings of Silicon Valley, who were all born within two years of each other, because any computer geek older than that would have been an entrenched IBM man by the time the personal computer revolution came around.
But Gladwell uses another set of his stories to indicate that success requires practice -- nearly constant practice. He uses the figure of 10,000 hours to indicate mastery of a field, whether it's music or hockey. In other words, it takes sweat. He doesn't really use the word "persistence," because in some of his examples, the practitioner found the practice to be actually fun. Bill Gates, for example, enjoyed programming computers. And sometimes, as in the case of a young hockey star, there's a loop where early success begets more rink time, which begets more success.
The book has some good lessons for real estate pros, especially in these trying times. No. 1 is that if you're going to succeed, you're not going to do it without practice. Every local Realtor association has its "Rookie of the Year" -- so it's not that there aren't prodigies, but those people might have actually had practice in some crucial real estate skills, like learning how to stay in contact with dozens of people simultaneously or how to explain a technical subject in a manner that is amusing or at least tolerable.
The figure of 10,000 hours is approximately five years if you're working 40 hours a week, so we need to give ourselves a break if perhaps we are building real estate practices around other jobs and family demands.
No. 2 is that even if you are very, very smart and work very, very hard, conditions still have to be right for you to blossom. Generally, you need a combination of economic and cultural circumstances that "fit" what you are trying to do -- and it doesn't hurt to have encouragement. In many of the success stories that Gladwell tells, the mega-achiever got that way not because of one lucky break from one person, but because of three or four breaks from three or four different people.
My first year in the business, in my very first real estate office, I noted with a little shock that the best leads went out to people who were already doing well at closing deals, instead of to people who were new or lagging at the game and might need a hand.
"Milk is given to the teenagers and not to the toddlers," I wrote. That's very often a piece of the story of success: that one lucky break makes you a golden boy or girl, and then you are handed other opportunities to strut your stuff.
So if you're in the middle of that cycle of success, work hard and run with it. But if the rocket has not taken off, how best to start it? One key is to try to make your work meaningful, because it will make the time you spend plugging away seem more like a means to a goal and less like unending toil.
In other words, kids, find joy in the day and keep your chin up.
Alison Rogers is a licensed salesperson and author of "Diary of a Real Estate Rookie."
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Submitted by Jon Querolo on March 31, 2009 - 11:43am.
Great article. In my thirty+ year career I have noticed it is a lot of luck and also the ability to 'spot' it and run with it. My 'luck' was as a very young Realtor a friend of a friend said I know many Realtors but if I don't give you a try who will? I was tremendously grateful and worked my tush off. And got is sold. My other most memorable was years later I was in the office, we still ran an old-fashioned 'duty desk' and the up agent said, Jon, do you want to talk with this guy, he wants to know why this house isn't selling. The agent did not want to be bothered. I took the call, said, I know the house, let me go and take a look at it and I will give you an honest report. He was a VP for a national relocation company and our relationship took off with his company sending me an average or 12 to 15 listings year after year. Tell yourself you are lucky, believe it and be thankful you are a Realtor - the best job in the world!
Submitted by Kara Jensen on March 31, 2009 - 1:34pm.
Good article, however I now agree with the veterans I knew when I was a rookie that said "the harder I work the luckier I get". Back when I was hungry I too used to wonder why the best leads went to the those already closing transactions, it didn't seem fair. Now that I am broker, I undestand that leads entrusted to my office go to someone who can handle the business, not to someone who doesn't know what they are doing. I train my agents to earn the business. Then you can get 'lucky'.
Submitted by Becky Jackson on March 31, 2009 - 7:35pm.
Alison,
It is time to take "Rookie" out of your byline. You are so not that! For a long time I did not read your column because I am not a 'rookie.' You may want to appeal to them, but you rightly earn a broader audience, so if I were you, I'd change my line to speak to my listeners.
This was well said.
Becky Jackson
Becky Jackson
Principal Broker
The Jackson Group at Realty Trust
503-416-4177
Submitted by Jon Astaris on March 31, 2009 - 7:44pm.
Putting 10000 hours to master the "field" of real estate sales. Hmm. Let's see...When there are a million three hundred thousand real estate licensees and four million sales, how do you define success? When the internet is changing the real estate business model in the manner the automobile changed the horse and buggy business model, how do you define success? When you know that the house you sell today almost surely will keep losing value for years to come, how do you define success?
We have a health care czar, a transportation czar, an environmental czar, etc., we are about to get a car czar. We need a real estate czar. That's what we need.