Having success in real estate agent is no easy task. From what I have seen, it requires a great amount of effort, dedication and most importantly that desire to achieve results and succeed.
It’s all about how you approach things, and the mentality you wield in order to have success in real estate. In my experience, having the right attitude comes first and the right mindset leads to things turning in your favor.
Can’t seem to relate?
Some of his clients consider him to be some kind of real estate wizard because he almost always exceeds his client’s expectations and in ways, they can’t imagine.
However, this wasn’t always the case. From what I remember, Jay was struggling at the start of his career and it was not until he made some duly needed changes in his life, things started to turn around.
As far as I remember, Jay’s lack of success was triggered by some of the bad habits he had adopted.
- He woke up late
- Drank at the wrong times
- Never exercised
- Spent too much time on the couch
- Ate too much junk food
Overall, he was a mess a few years back.
It’s still not clear to me what made the impact but a few years down the road something hit him, it’s as if something gave him a big jolt, his wake-up call.
He had enough of it and one day he said to me:
“I have to get my sh*t together, I got to work hard to provide for my family, I want to make every moment of my life count.”
A few months later, I met Jay again and it wasn’t the old Jay. The new Jay was much more confident, he was in better shape, and most importantly, his career had taken a turn for the better, he was closing A LOT of deals.
I was amazed at Jay’s transformation and I asked him “what happened???”,
I was very curious as to how he went from nothing to being among the
Top 1% of Successful Real Estate Agents?
We had quite a conversation, we discussed many things and among those were the changes he made in his life in order to become a better agent.
Jay told me about the struggle he had faced simply because he was unable to overcome some of the bad habits he had adopted over the years.
But then the conversation transitioned to the changes he made in his life, highlighting the 5 habits he had adopted to bring his career back around.
Obviously, I did not believe him at first but then I started reading into it and observed other fellow agents in my area who were very successful.
It was only after I had spent a reasonable amount of time observing other agents, I came to the realization that Jay was right and in one way or another, it all came down to these 5 habits which were an integral part of many agent’s success.
Jay my friend was right.
“5 Habits of Highly Effective Real Estate Agents”
In today’s blog, we will first cover the 5 habits that I found common in the top 1% real estate agents and then we will talk about how you can implement EACH and EVERYONE of them in your real estate business for success. Utilize these habits at the PRECISE time and place will allow you to close more deals at a faster rate and as a BONUS, they will help you improve your personal life as well!
Let’s dive right into this.
“Ideas are easy. Implementation is hard” Guy Kawasaki
1. Becoming A Hunter
The first habit Jay adopted to was that he became a hunter. Getting confused? Okay, let me explain.
There are 2 types of real estate agents in this world:
- Reactive: Focus on things they can’t control such as market conditions, competition. Jay used to be in this category until he had enough and decided to focus on improving himself instead of waiting for a miracle.
- Proactive: Proactive agents are the ones who understand complaining doesn’t work so they put all their energy in being positive and focus on what they can do. They’re the ones who hustle. This is the category that Jay eventually ended up in through hard work, dedication and passion.
Proactive agents are like Rambo with a Knife. They use anything and everything at their disposal to become more productive in order to achieve their goals.
I will be pretty straight with you folks. Most agents fall in the “reactive” category and would complain about high competition or terrible market conditions but don’t do anything different that would make them stand out.
So I want you to ask yourself, are you one of those agents? The ones who can’t seem to establish control of the situation they find themselves in.
Can’t figure it out? Let me paint a scenario for you.
Say you are representing your client and the house has been on the market for a few months now.
What do you do?
- Let it stay on the market as it is
- Pull out Rambo’s knife and HUNT
The obvious choice for a pro-active agent would to choose option 2. Because proactive agents don’t want to wait for an opportunity to arrive on its own to close the deal. They knock down doors, get into action and create opportunities for themselves.
So in this situation, a pro-active agent will pick up the phone and call all other agents and people who have seen the property – find out everything they can about the property.
The questions you should be asking are.
- What is wrong the property?
- What need to be fixed?
- What turned you away from this property?
Only when you know the answers to these questions, you will formulate an action plan and get to work – that’s called the hunter’s mentality.
“A dream without a plan is just a wish” Katherine Paterson
2. Staying Headstrong and Having Clear Goals
To get anywhere in life, one must begin with the end goal in mind.
Why focus on the end, when you don’t know where to start?
Let me explain, the secret behind this concept and why is it NECESSARY to have YOUR end goal of being a part of the
Top 1% of Successful Real Estate Agents
“It’s the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen.” Muhammad Ali
We all know who Muhammad Ali was, right?
The legendary boxer who won the Athlete Of The Century Award and was known worldwide for his lifestyle CHOICE that he affirmed on himself as being the greatest.
Yes, I said “CHOICE” for a reason.
Muhammad Ali knew he was the greatest before he even became one.
This is a living example for all of you agents, you have to see the EXACT outcome you want to get out of your real estate career before you even start.
To get anywhere in life, YOU MUST envision your end goal, YOU MUST know where the destination you want to be is and YOU MUST affirm to your goal of making yourself an expert real estate agent.
It’s all about the decisions you take in different situations.
You can either wait in your office for an entire day for business to come ( which won’t, ever) or you can go out and prospect; knock door to door and meet potential new clients, get new listings in the area, host open houses, and do whatever that needs to be done in order to get more business.
Affirmations and visualization work in harmony. Once you believe in yourself and that you WILL accomplish your goal, then NOTHING can stop you. Whether you want to close 50 deals a year or open up your own top brokerage, IT WILL HAPPEN!
A strong mindset and clear vision will bring you a different level of self-confidence.
3. Making Time Management A Priority:
Time is limited, no matter who you are and where you are in the world, you only have 24 hours in a day.
For real estate agents like yourself, this means each day you must be:
- Working with clients
- Marketing your business, both online and offline
- Expanding your real estate knowledge and staying up to date
- Networking/Prospecting (online and in person)
The concept of time management is number 3 on our list.
This habit has been adopted by EVERY effective and successful real estate agent of all times.
Let’s get to the details of it.
The first thing you need to do as an agent is to prioritize.
How can putting ‘The First Things First’ benefit you as a real estate agent?
A real estate agent on a daily basis has a lot to do; meetings to attend, prospect, they have to find properties online, and the list goes on and on.
So, it’s important for every real estate agent to acquire time management skills to get their tasks done and stay productive.
There are multiple ways for you to manage your time, which includes:
- You Need To Have A Plan
Have the destination in mind (what’s your end goal?)After you’ve figured out what you’re aiming for, it’s time to seek out the best route to get there i.e what you need (knowledge, resources). The way to do this is by setting S.M.A.R.T goals.
Set S- Specific, M- Measurable, A-Attainable, R-Realistic, T-Time bound Goals.
- Employ The Time Blocking Technique
Assign specific tasks to very specific time blocks. Work on tasks rather than working on time.
Let me give you an example: Assign a specific time during the day to check emails rather than checking every few minutes.
- Pomodoro Technique
You will need a timer to break down work into 25 minute intervals. After every 25 minutes(Pomodoro sections), you get a 5-minute break . After 4 Pomodoro sessions, you get a 30-minute break.
After you master these time management techniques, you will have to know how to prioritize your tasks:
Popularized by Stephen Covey’s “The 7 Habits of Highly Effective People” All your activities can be simply broken down into 4 quadrants with this real estate tool.
Now It’s Your Turn!
This real estate tool, if made PRIOR to each day will be the best way to not only manage your tasks in time but also benefit you in completing them efficiently and productively.
4. Be Value Driven
Providing value in real estate is crucial when trying to be a real estate agent, that’s not like the rest.
Your value propositions should be powerful enough not to just convince your potential clients but leave them, without a doubt, that your service is the best.
Your Value Proposition is your best resource.
You must be wondering “How else can I stand out?”
Well, providing value can branch out to different niche markets, if you choose to focus on luxury properties only; you better know the entire luxury market inside out. From prices to elite areas, the builder’s company, how many homes they have built, and more.
Providing value begins from the idea of “Selling Yourself”. This process is ONLY offered during the listing presentation (The ONLY time you can sell yourself).
Your main goal for this entire section should be viewed from the client’s point of view. You must answer the questions like Why me? And, Why would your potential client choose you?.
If your answers include:
- I am honest
- I am hard working
- I am a market expert
Then you might as well get booted out the door.
Your potential clients can see this value naturally and without you forcefully trying to shove it down their throats.
How you can make this happen?
- Through your confidence and body language
- Using your knowledge at the appropriate times
- Making yourself available to your client
- Answering client’s questions to the full potential
Luckily for you, we have derived the greatest real estate formula you will need for providing value during your listing presentation.
The Formula For Delivering Value Propositions:
Title of offering (TOF) + Strategy + Benefit + Result = Value Proposition
- Title of Offering-Clearly defining the value you are giving in 10 words or less
- Power Script (Strategy)-Description must be result oriented and impactful in no longer than 45 seconds
- Visuals (Benefit)-Supported by photo or video
- Proof (Result)-Supported by testimonials, a personal experience, or your portfolio
While keeping this formula in mind, you will be able to cut out all the fluff and unnecessary content and jump straight to the point. You will be providing enough value during your listing presentation for the potential clients to not only choose you but to have complete trust in you to sell their home.
5. Sharpening the Saw: Always Learning
There is no point of trying to chop down a tree with a dull saw.
In real estate, gaining knowledge will be your new best friend to succeed in the competitive environment.
Every free moment you have should be devoted towards SELF-GROWTH.
Learn to effectively manage time in order for you to learn new things, gain more knowledge and become a highly skilled agent that is always learning.
There are 4 sections to sharpening your saw:
- Physical-Exercising, Diet
- Mental- Reading, Learning, Mindset
- Spiritual-Music, art, meditation, nature
Each of these categories have their own purpose.
You cannot just master 1 of these sections, they work in harmony.
With a healthy diet, you will gain more confidence, you will look sharper and better which will lead you to close more deals.
The balance of life formula is all about relationships between friends, family, and work. If you work out a portion EACH DAY, you are going to be a successful Real Estate Agent.
“The more you read, the less you know” Albert Einstein
You must be CONSTANTLY learning, whether it’s about the market, working on your CRM, conducting a Comparative Market Analysis (CMA), editing your Area Analysis Report, or just reading on self-motivation.
Keeping yourself grounded puts this entire Real Estate Formula for success together, you will be carrying happy vibes, you will be more approachable, and you will be more valuable. A Strong spiritual side is your ticket to infinite prospecting potential.
Just think about it, if there were two options, the client can choose between you, a positive and grounded agent, or a negative stressed one.
What do you think will happen? Who will they choose and put their trust in?
The Bottom Line
This is where you set a fine line from just reading a blog and going out and doing what you just learned.
These 5 habits, if adopted properly can have the potential to lead you to your end goal of becoming one of the top real estate agents in your area.
Lastly, I would like to thank Mr. Jay for 5 habits so I could introduce them to you.
They worked for him, they will work for you too.
At the moment, he is among the top 3 earners in his firm and is looking to improve further. In just a year, he went from being an average joe to being the man – a changed man.
For your valuable feedback, don’t hesitate to use the comments section.