John Powell once said, “The only real mistake is the one from which we learn nothing.”
Over the years, In Touch Today has interviewed dozens of top producers in the real estate industry, and we’ve asked them about mistakes they’ve made or seen other agents make. What is one thing they’ve all had in common? No matter what their mistake, they’ve LEARNED from it and have gone on to even greater success.
We believe you can learn from their mistakes as well. Alll of our past interviews can be perused, at your convenience, on our archives page. However, we know you are busy working towards your own success, so we’ve compiled key quotes on the topic of mistakes from these top producing real estate agents. We hope you enjoy reviewing them or reading them for the very first time.
What is the biggest mistake you have made, or seen other agents make, in the real estate business?
“I think the biggest mistake is thinking that this is an easy business. Some people get into it thinking they can get rich quick. Most people don't treat it as a business. This is a business like any other business. You have to be willing to invest money… you need capital to market yourself.” Mark Spain
“Many agents are afraid of spending the money… It takes money to make money in this business, just like anything else.” Mark Eibner
(Editor’s note: It doesn’t take a lot of capital to market. At In Touch Today, we can set you up with an economical and effective digital newsletter for a mere $35 per month. If you receive even one referral from a past client as a result of the newsletter, you’ve more than paid for the entire year’s subscription!)
“In this business, the biggest mistake is playing rather than working… If those people spent their time prospecting and asking for business from friends, relatives, aunts, uncles, previous clients and so on and provided their clients with unbelievable customer service, they would catapult through the field.” Craig Lerch Jr.
“I think that most of them get into the business thinking that if they get a couple listings (from the relatives or the next door neighbor), they'll be established. However, those types of listings aren't long term. In less than a year, they are usually out of the business again. They are looking for quick money because they think that's what real estate is. They need to be going out and knocking on doors, making the phone calls, and basically doing the work required. They think it's easy - but it's not.” Carroll Peel
(Editor’s note: While asking everyone you know for business may seem like a daunting task, we can make it easy. Consider our referral source postcards. Sign up for automated mailing of the series to your database of past clients and referral sources and we’ll do all the work for you!)
“(One mistake is) thinking that this is an easy business and that they can make money just by showing up. I don’t think they realize that this is a full time job. I think a lot of new agents are under the pretense that they can do real estate part time.” George Wilkinson
“One of (the mistakes is not) assigning a value to their time. What is their time worth? If they don't have an assistant for an example, they aren't utilizing the contact management and software programs to their fullest; they really need to focus on those areas. What can they delegate?” Allan Domb
(Editor’s note: We understand that you are short on time, and that not every real estate agent can afford an in-office assistant. So at In Touch Today, we provide you with your own virtual assistant! Sign up for database maintenance (only $25 per month) and we’ll add your monthly closed loans to your database, remove duplicates, take care of address changes and deletions, even email you a copy of your database whenever you need it!)
“If they are too focused on themselves and their pocket books, rather than the people they are trying to serve, they won’t be successful. If you concentrate on serving your clients, and serving them well, you’ll find that your level of satisfaction with what you’re doing is enhanced - and so is your pocket book.” Tupper Briggs
“I think one difficulty is not keeping everything new and exciting for buyers and sellers. I hope I can always share in the joy and excitement of the purchase or sale. I was working with one Realtor who had done so many transactions you could feel she was just going through the motions.” Susan Farrar
(Editor’s note: It’s easier than you may think to make your clients feel special and share in the excitement of their new home purchase. Whether you choose a hand-written greeting card or a special closing gift, we have products that will help you show your clients just how much you’ve appreciated their business.)
“They lose perspective and get complacent in their position. They begin to feel that they are above doing "the basics" every day. Those veterans who are successful are still learning about new technologies and opportunities. The one great equalizer in the real estate business is that it doesn’t matter what walk of life you came from or what you have today, but what you do today that is going to make your success for tomorrow.” Jim Wanzeck
“I don’t think they invest in themselves enough. I was passionate about getting every designation I could possibly get. I believe in education, and I believe you should know your product. New agents should go out and study how a subdivision is built, even down to how the sewer lines are put in. Get to know houses from the ground up, in order to know what can, and will, go wrong with them.” Carolyn Wheeler
“The biggest mistake agents make is that they don’t change with the times. They are stuck in their original technology, they don’t update their systems and they’re still doing it the old way. If I hadn’t changed for the times, I wouldn’t be where I am today. I would be left in the background with a negative attitude, negative energy and burned out.” Kathy Koehler
(Editor’s note: At In Touch Today, your success is our success. Check out our website for FREE special reports on a variety of marketing topics. Or give us a call for one-on-one consultation with one of our professional marketing consultants)
© 2009 by In Touch Today Corporation and its licensors. This article may be reproduced only in its entirety. In Touch Today is a marketing company based in Denver, Colorado, that assists professionals in increasing their repeat and referral business as well as building professional referral sources and prospecting new clients. www.intouchtoday.com
|
