Running a real estate business can be full of ups and downs, but use these three principles to get through the tough times.
In real estate, we can sometimes face two opposite ends of the spectrum in terms of wins and loses.
One day you score a listing in a neighborhood you have been working hard to get. The next, you lose a client for reasons outside of your control. On day three, you get a full-price offer for your client. By the evening, you learn the deal is off.
As entrepreneurs and sales people, there are cycles and seasons. We all encounter challenges and hurdles to overcome. We all have upsets and wins in life. Try to let the joy of your wins take over the hurt of your loses.
Here are three ways to manage your upsets and wins in your real estate career. I challenge you to never give up, don’t underestimate the underdog, and have faith in yourself.
1. Never give up
In sales, it is a number game. You will get 99 “Nos” before you get one “Yes.” You might have heard the celebrity stories. One of my favorites is Sylvester Stallone’s Rocky story.
Stallone wrote the script for Rocky and was offered $300,000 for the rights, but turned down the offer. He was struggling, had even sold his dog, but was determined to make the film and star in the film himself. Eventually, Rocky went on to be one of the most successful franchises of all time.
While you might feel like Rocky at times with the fight of your life ahead, don’t give up. Success in sales is determined by the number of contacts you initiate with potential clients on a consistent basis. If two agents have the same tools, knowledge and experience, and Agent 1 makes a dozen new contacts, and Agent 2 makes one, who is likely to sell more? Agent 1 every time.
You may get punched, face rejection, but remember the more you try, the closer to gold you are.
2. Don’t underestimate the underdog
We have all heard the biblical story of “David and Goliath,” where a weaker opponent faces a stronger one but prevails in an unexpected way.
As a real estate agent, you might feel like there are agents who are more experienced, smarter or more talented than you. But there is a certain level of tenacity behind a real winner. I believe passion will beat skill, money and hard work any day. Just because you may not have the most listings or a decade of experience, don’t underestimate yourself or let anyone else. Passion will always win.
3. Have faith
Have complete and utter confidence that you will prevail. You can overcome adversity on the job by believing in yourself. There are a few ways you can build faith in yourself.
Write down a list of your accomplishments, and look for patterns so you can write down a list of your best skills. Keep this list handy, and review it when you need a boost of confidence. When you have a happy client, ask them for a review. Keep this list of testimonials handy so you can reflect on all the kind words when you are having a tough day.
Surround yourself with people who also support and believe in you. Consider getting to know some of your fellow Realtors in your area by attending company events or getting involved with your local National Association of Realtors (NAR) chapter. Connect with colleagues that have positive attitudes and ones you can lean on so that you can support each other.
Remember, you have what it takes to be a great real estate agent. It can be a challenging job, but put forth your best effort and you will win. Learn from the bumps in the road, and celebrate the victories.
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