I’ve been having periodic, kinda sorta regular conversations with a young real estate agent in the southwest. It’s been goin’ on for maybe a year or more. He thinks he has a very bright future, but from where I sit, he hasn’t yet grasped just how really good he’s destined to be.
He’s a goal setter, yet he’s not hit his goals the last few years. Don’t get me wrong, he’s done very well. But missin’ his goals consistently isn’t from poor work ethic, he’s like a Nebraskan corn farmer at harvest time. The guy’s relatively tech savvy as he maintains his own websites, which are designed to be lead generators. He has an IDX etc. Still, goals not met.
He works his ass off, gets referrals up the ying-yang, follows up, crosses his T’s, dots his I’s, loves his mom, and eats his veggies. So what’s the hold up for Heaven’s sake? What’s been missing?
95% (Pulled out of the clean, breezy San Diego blue sky.) of real estate agents who don’t make it, fail for this reason.
Promise you won’t roll your eyes.
Bottom line? He stopped spending so much time with websites, and other various marketing tasks, and began spending most of his time either prospecting or, you know, being belly to belly with folks who could tell him to go to hell. Turns out a buncha folks attached to said bellies haven’t been giving him directions to Satan’s abode.
His income this year will most likely eclipse last year’s goal by about 30% or more — a goal he failed to reach. Puttin’ it another way, If he reaches this year’s goal, and he’s ‘this close’ to being on target, he’ll have exceeded last year’s actual income by approximately 55-70%. All this by simply parkin’ his belly in front of more stranger’s bellies than ever before.
Who’d a thunk?
Oh, and for the record, so far this year his ‘high tech’ lead generators have produced a tad less than 20% of his income. The dominating majority of what he’s accomplished has been using methods available when Truman was in office.
Regardless of all this success, he needs to completely retool what he’s offering — a completely different value proposition.
I’ve advised him to quit, as he so concisely put it, competing with all those agents out there who couldn’t carry his jock on their best days. To be accurate, I added the jock part.
See, he’s been doin’ what I do, only at a level I did back when I was his age. One of my mentors gave me the same advice. Don’t compete with amateurs. Instead, pick their fields clean. And when it comes to specializing in investment property as a real estate agent/broker, purposefully competing on a regular basis with home agents is silly on its face, and a colossal waste of time.
No need to go into the nuts ‘n bolts of my advice, but if he follows through, and I’m convinced he will, I predict his income will triple in the next couple years. He’s been selling things as opposed to results.
It matters not that 99% of those reading this won’t be specializing in investment property. Just don’t lose sight of the sea change he embraced like a lost child newly found:
Focus like a laser beam on being belly to belly with more folks per week than your used to in six weeks. Do that, and as night follows day, your professional life will never be the same.
Caveat: The discipline required to constantly market and putz around with websites etc., isn’t nearly the soul cleansing discipline it takes to constantly, consistently be belly to belly with those who can crush your spirit.
It’s called being in the arena — and when it comes right down to it, most simply don’t have the stomach for it. It’s why they spend so much time and money doing other things.
Spending as much time as possible in the arena — goin’ belly to belly — IS the difference maker. It’s what sets the talkers apart from the doers.
Talkers spend most of their time doin’ whatever it takes to avoid the arena.21 comments