What Does it Take to Be a Successful Real Estate Agent?
Last week at BluePrint, I was standing up on stage looking out over the room at so many of my clients and hundreds of the top producing people in real estate when something hit me… It was something I obviously already knew because I stake my life on it, but it was one of those moments when you feel a truth with your whole body…
Being successful is easy.
That’s not an insult, and it absolutely does not mean that you don’t work hard – it just means there’s a formula for how to be successful in real estate. I’ve spent my career mentoring thousands of the top producing and successful real estate agents around the world, and they’re all completely different, and yet they all have eight specific things in common.
Want to know common traits are shared by successful real estate agents? Keep reading…
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Common traits shared by successful real estate agents
They’re Uber Competitive and Possess a Growth Mindset
Napoleon Hill called desire “the starting point of all achievement.” If you don’t really, really want to be the top producer in your market then you won’t be, because there will be someone who wants it more than you.
But motivation alone isn’t enough. Always be checking your mindset and doing everything you can to keep it healthy. Make sure you’re meditating, exercising, getting enough sleep, and asking yourself the 5 Most Important Questions every single day.
They Add a New System Every 18 Months
This goes right back to your mindset. Where do you see yourself in 10 years? If you were to break that down into 18-month blocks, what are the steps you’d have to implement to get there?
Maxine and Marti Gellens, my personal clients of 23 years, had one of their best years ever in 2021 ($6,600,000 GCI) and all they did was step up their social media and email. Their direct mail was already bringing in plenty of business, but it was adding those extra steps that saw them grow.
So, what is it for you? Double-down on video? Hire an assistant or some new agents? Start an ancillary service?
They Know Their Market
Don’t be fooled by that simple title. Yes, I want you to sign up with Keeping Current Matters, keep tabs on HousingWire, Inman, and whatever other real estate news source you like. Yes, I want you watching all our shows and never missing This Week in Housing. You need to make it a part of your morning routine to read this stuff every day.
But what I also want you to do is bring some analysis and creativity to it. Find correlations between what is happening right now and what has happened historically. Find ways to explain this to your clients and prepare for objections.
And beyond this, I want you to have a story for each and every house you’ve sold. You have stories for the market as a whole, but now bring it down to the micro-level. Tell your new clients about the families you’ve helped, know the names of every family whose gone in and out of a property, and show that there is a life behind every listing.
They Have Great Marketing
One of the most common things our clients come to their coaches about is help with real estate marketing, because it’s not always easy to know what to do. You want to position yourself everywhere – except for all the places you don’t want to be.
Ask yourself:
- Am I releasing video every day?
- How many signs am I putting out for every open house?
- How many emails am I sending weekly and how much do they offer?
- What could I be doing better?
Also, don’t forget to stay current on This Week in Marketing.
#5. They Trade Money for Time
I know that it’s scary to start hiring people when it seems like you can barely afford to pay yourself. But freeing yourself up to your HABU (Highest and Best Use) is the only way you grow.
Your schedule is always going to be busy. The questions are:
- Could I pay someone to do this so I can focus on the tasks that really matter?
- Would hiring someone with different strengths than me help bring in more business?
If you suck at marketing, stop wasting time and hire a marketing person. If you’re bogged down in paperwork when you could be at listing appointments, hire a transaction coordinator.
#6. They Have a Coach
I’m not going to try to sell you too hard here, but it has to be on the list because it’s a fact. The top performing players in any industry will tell you that they have a coach. It’s not a sign that you need help, it’s a mark of greatness because you’ve gotten to that level and committed to your growth.
#7. They Make Their Calls
When it comes to success, there is absolutely nothing you can do to replace the hard work. If real estate was easy then 50% of agents wouldn’t be dead-broke while the top 10% (who make their calls EVERY DAY) are making millions of dollars a year.
James Harris went from being the new guy in LA to starring on Million Dollar Listing by door knocking in Bel Air. He attributes his success to getting his hands dirty and making all those uncomfortable calls even when he didn’t feel like it.
#8. They Choose Their Hard
I know, I know… Making cold calls is hard. Shooting video is hard. Hiring the right person… hard.
Wanna know what’s also hard? Being broke.
You get to choose, because it’s one or the other. This formula is very simple, very straight forward, but it’s not easy. You can choose to struggle, or you can choose to lean in.
We’ve helped scale the businesses for thousands of successful real estate agents.
When you start with a free real estate coaching consultation, chances are we can help scale yours as well. Schedule yours today!
