If you’re a new to the real estate agent business and you haven’t closed a deal yet, you aren’t alone, we gave you all the tips and more.
Going off that, from research and a wide range of experience, it’s becoming increasingly obvious that, a mindset that stays intent on success, and that pushes you to put in the work that will bring desired results, is crucial for any real estate agent, investor or player.
Lots of people start investing in real estate, few end up really becoming successful. This holds same even for people in other professional careers, businesses and sectors, or anything else that’s hard, requires the input of hard and smart work, and promises reward at the end. When it all comes down, if your back ever gets to the ground, your mindset is what will help you keep going. Real estate as a business shines and thrives more when there are more ethically minded real estate agent and investors that put people above profit, who mean what they say, and really provide a service that benefits the home and land owners that can so easily fall victim to less reputable real estate investment firms.
Starting out and staying the cause in real estate investment can be unnerving. In spite of the fact that there’s a vast array and never ending stream of videos, articles, and podcasts devoted to helping you get your start and ensuring that you maintain traction as you go, there’s really no one specific tactic, marketing channel or platform, or even strategy that’s going to steadily make the biggest difference in your long term success. That’s because where & how you get in front of motivated sellers will change and evolve just like the world that we live in.
Just as is the case with any long-term endeavor, what’s going to matter most is your mindset. As Seth Godin says, anything worth doing is going to have a hollow, a downslide moment; a difficult period of time where things are painful, difficult, and require problem solving and endurance. How do you hold up in the face of such business and investment despair with fortitude? Mindset plays a key role here. Those who make it through are rewarded, while those who quit won’t reap the rewards.
So, it all comes down to this: How can you keep going the long haul? If you’ve decided that real estate is it for you, that this is truly what you want for as long as you live, then what mindset should you arm yourself with now? It stands to reason that these questions are key, and that you find your answers for yourself, and it often comes down to a mindset that would serve you in the best way all your real estate agent days.
So, when you’ve gotten the right mindset on lockdown, here are a few other proven resourceful advice to ponder over:
Study at the feet of the masters
Educate yourself, network, be advised, and know that it’s going to take time to learn this trade, so you’ve got to be patient, you must go out and make mistakes, learn from them, be diligent, and be driven.
Learning is the first step. It’s important to understand the industry; the reasons why profit loss occurs, how to partner with the right people in the industry, and so it’s important to get yourself educated about real estate by reading books on real estate, attend seminars, network with investors, create likeminded groups and if possible find a good mentor. It is very possible to get overwhelmed by the thousands of resources available to you. It’s valuable to skim through and a few you can trust, and hone in on them. Find a mentor first and stick to one system.
What to do with all you’ve learned? Spring into action.
There comes a time for every entrepreneur or starter, when you need to put the book down, and take action. If you want to be successful, you’re eventually going to have to stop watching the videos and listening to the podcasts, and get started. This is how you learn, by acting. You will never get to your destination without making that first move. So, quit overthinking it, get to it, and persevere in it.
Failing is part of the process. And that’s okay
As you set to work, take the leap and begin, you’re going to fail along the line. And that’s good! Everybody fails. Literally everybody. History is replete with lost of people who are hugely successful in the real estate business and who have lots of failed real estate ventures and cycles in their kitty, so your case is definitely not an isolated one. The point is, you’re going to make mistakes and you need to be OK with that, and not let it knock you down. Be ok with failing forward. Don’t think you have to know everything before you start taking action. Build relationships & tell everyone you come in contact with what your doing. You never know what connections someone might have or what referrals they could send you.
The game of numbers and how you should play
Real estate is truly and will always a numbers game. How many people can you get in front of to make offers and solve their problems?
Let’s set up the scenario nicely:
If you know it takes 100 DM’s on Instagram to get a lead, and you need 10 leads, then put in the work and send 1,000 DMs.
If you know that for every 10 leads, you only get 1 close, and your goal is 20 closes per year, then you have to do whatever it takes to get 20 leads.
The crux of the matter is that most of this stuff is really simple, or so it seems, but requires loads of effort, and people usually don’t want to put in the effort.
Get in front of enough people that are your target audience, and have them trust you, and you will close deals. The problem is that you have to go through 10 or 20 leads sometimes to close 1, and getting that many can be tough. So understand going into it, that it’s a numbers game. That doesn’t mean you can’t do things to increase your conversion rates, or better serve your customer, so that you close 1 in 10 instead of 1 in 20. But it does mean that no matter what your ratio, it’s always a numbers game in the end.
The power of the WHY
You need to figure out your “why”. What is your key motivator to keep you a player in real estate agent space? You will frequently ask yourself this question, so make sure you have a good answer. Then consume as much educational content you can about the topics you are interested in. Read books, listen to podcasts, network with others in the industry. Find yourself a mentor who is already doing what you want to do and offer some value to them in exchange for their knowledge and experience. Most importantly of all, take action. You will not achieve your goals after only reading books and listening to podcasts. Put what you learn into action. Don’t be afraid to make mistakes, just try to minimize them.”
Whatever your “why” is, whether it is to provide better for your family, to ease yourself out of financial troubles, to work for yourself and leave the 9 to 5, whatever it is, have it firmly fixed, and use it to help you make it through the entire journey and your process.
When all has been said and done, you need to keep moving, forward. And your carefully curated and set up mindset, that has been placed most intentionally is what will help you keep going.
Stir in all of these into your pot, and eat up to become the most edified real estate player that ever lived.