Podcast: Broke in real estate? 10 reasons your ego is to blame (Part 1)

Why you should take a step back and examine yourself
  • Ego is a real psychological element; it's not just about insensitivity to others.
  • If not kept in check, ego will be detrimental to the course of your life and the decisions you make.
  • Everything is sold to you based on ego -- your fears and your feelings.

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Talking about ego can feel obtuse. When we think of ego, we immediately get images in our minds of the diva rock star, recent political figures or even that agent in your market with his or her face splashed all over bus benches and moving trucks. But ego is much more than that.

Science has figured out that the ego is in a part of the brain that is dominated by a different type of brain cell. These cells, which are fully formed by the age of 8, manifest the ego.

So, what effect does this have on your business? This “drive” will run amuck and become destructive — taking anything that could be good for us, and instead, allowing it to consume us or project something in excessive negative amounts.

Once you’re aware of what ego is, you can begin to remove its negative effects on your life. In this series, we’ll look at specific applications of how your ego works against you to keep you broke in real estate!

If you’re feeling out of control, like life is all over the place and you’re having trouble accomplishing what you want, your ego is probably in the driver’s seat.

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Listen to our first three points and ask yourself which of these is dominating your thought life and putting up roadblocks in your business.

  1. Your ego loves that you believe in the “easy button.” Are you too good for broker price opinions (BPOs), open houses or working with buyers?
  2. Your ego wants you to be broke in real estate. Want the cure? Practice forced saving.
  3. Your ego wants you to be recognized or famous. People literally replace financial health with being famous. Don’t make that mistake!

What you buy and who you associate with — both tempt our ego to rear its head. Resist the easy way, and be introspective with each purchase and decision you make.

Is it all about you and how something will make you feel? Ditch your ego. Open yourself up to new experiences, new people and new disciplines so that you can be of service at the highest level to everyone you come in contact with.

Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.

Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.

Email Tim Harris.