I’ve been in real estate for almost two decades. Within that time, I’ve built a successful real estate business and taught more than 800 agents to do the same. Whereas I’d like to tell you that there’s some secret formula, the truth is that being a successful agent is neither magical nor mysterious. Success is the natural consequence of consistently applying a few fundamentals over and over again.
Change Your Mindset
The key fundamental is lead generation. But obtaining your real estate license doesn’t mean your phone automatically starts ringing with new leads.
Accepting this may mean changing your mindset. You need to realize that you are an entrepreneur. The day you received your real estate license, you became a business owner. To grow your business you need to dedicate time every day to lead generation.
Accepting this may mean changing your mindset. You need to realize that you are an entrepreneur. The day you received your real estate license, you became a business owner. To grow your business you need to dedicate time every day to lead generation.
Know the Basics for Generating Leads
What does lead generation look like? When I received my license, I had no idea where to start. There’s a good chance you feel the same.
In fact, lead generation comes in multiple forms. When I’m working with my coaching clients, I give them a model and a calendar to follow that uses proven lead generation tactics. These are the basics:
Focus on Your Sphere
Each day, be proactive in adding contacts to your sphere of influence. Genuinely care about what they need and strive to constantly provide them value. This is called making an impact to make an income. Gaining real estate referrals will happen naturally when you provide constant value to your sphere.
Build New Relationships
In addition to focusing on your current contacts, your lead generation time should include some activities that help you build new relationships. This will allow you to grow your sphere. After all, if your sphere doesn’t grow, your business doesn’t grow.
Although being a successful real estate agent is about providing value and service, it’s also a numbers game. The more leads you generate, the more leads you’re able to attract and convert. Simply put, if you lead generate a little, you’ll gain a little business. If you lead generate a lot, you’ll gain a lot of business.
Lead generation needs to come above all your other activities. There’s no point waiting until you have the perfect website or the perfect branding — you need to start lead generating now.
Focus on Your Sphere
Each day, be proactive in adding contacts to your sphere of influence. Genuinely care about what they need and strive to constantly provide them value. This is called making an impact to make an income. Gaining real estate referrals will happen naturally when you provide constant value to your sphere.
Build New Relationships
In addition to focusing on your current contacts, your lead generation time should include some activities that help you build new relationships. This will allow you to grow your sphere. After all, if your sphere doesn’t grow, your business doesn’t grow.
Although being a successful real estate agent is about providing value and service, it’s also a numbers game. The more leads you generate, the more leads you’re able to attract and convert. Simply put, if you lead generate a little, you’ll gain a little business. If you lead generate a lot, you’ll gain a lot of business.
Lead generation needs to come above all your other activities. There’s no point waiting until you have the perfect website or the perfect branding — you need to start lead generating now.
Deliberate Practice
Being a successful agent is less about having a natural sales ability or some special talent and more about hard work. The true champions of real estate are brilliant at the basics.
You can read more about this concept in the book “Talent Is Overrated” by Geoffrey Colvin. The primary message of the book is that people are not born with the natural talent and abilities that will make them great in life. Colvin says that deliberate practice in your chosen field is the key to greatness. As a real estate agent, your deliberate focus needs to center on one thing: lead generation. The rest comes after.
You can read more about this concept in the book “Talent Is Overrated” by Geoffrey Colvin. The primary message of the book is that people are not born with the natural talent and abilities that will make them great in life. Colvin says that deliberate practice in your chosen field is the key to greatness. As a real estate agent, your deliberate focus needs to center on one thing: lead generation. The rest comes after.
Accept Your Own Limitations
At this point, you may be thinking that it’s necessary to become great at scripts to lead generate effectively. Alternatively, you may be thinking that it’s necessary to handle many sales before you can become better at negotiating and contracts.
Actually, to become good at either of these, you need to lead generate. Think about it: you’ll never have the chance to put those skills in action if you have no leads. That’s because no leads means no customers.
This idea may make you nervous. It’s normal to want to become great at everything before you lead generate. But you need to overcome this worry. If you don’t, you won’t make it. There’s no time to become comfortable and to learn everything before you put yourself out there. Your bills will soon pile up and you’ll be out of business.
It should come as a relief that you don’t need to be great at everything. Instead, you just need to work at becoming great at the basics of lead generation. By also partnering with a good company, you’ll have someone who can help you with the rest as you progress.
Actually, to become good at either of these, you need to lead generate. Think about it: you’ll never have the chance to put those skills in action if you have no leads. That’s because no leads means no customers.
This idea may make you nervous. It’s normal to want to become great at everything before you lead generate. But you need to overcome this worry. If you don’t, you won’t make it. There’s no time to become comfortable and to learn everything before you put yourself out there. Your bills will soon pile up and you’ll be out of business.
It should come as a relief that you don’t need to be great at everything. Instead, you just need to work at becoming great at the basics of lead generation. By also partnering with a good company, you’ll have someone who can help you with the rest as you progress.
The Takeaway
From my experience, I can tell you that talent is not a necessity to becoming a successful agent. You don’t need to be the most dynamic person in the room. You don’t need to know everything before you start. Instead, become disciplined, learn the basics, and get into the habit of daily lead generation. Everything else will follow.
Now that you know the secrets to a long and profitable real estate career, it’s time to take action. If you haven’t already, go to your calendar and time block some lead generation time. Treat this time the same as you would an appointment: protect it. You would never cancel a listing appointment — and lead generation time should be no different. This is the most valuable time for your business and your bottom line.
If you need any help getting your lead generation time organized or if you need support creating a model and system to generate continuous referrals, feel free to give me a shout.
Now that you know the secrets to a long and profitable real estate career, it’s time to take action. If you haven’t already, go to your calendar and time block some lead generation time. Treat this time the same as you would an appointment: protect it. You would never cancel a listing appointment — and lead generation time should be no different. This is the most valuable time for your business and your bottom line.
If you need any help getting your lead generation time organized or if you need support creating a model and system to generate continuous referrals, feel free to give me a shout.
2 comments to "Secret to a Successful Real Estate Career"