Without these Qualities, a Real Estate Agent is Doomed to Fail

Selling real estate is no walk in the park.

You could be a real estate agent for many years who is still trying to catch a big fish. Or you could be a new kid on the block that has made a switch from a different industry. Either way, there are practices that you must be aware of if you’re in it for a long haul.

It goes without saying that the forthcoming claims are pretty evident. The profound advice was given. to me during my brief encounter with best-selling author of Think Rich Pinoy, Dr. Larry Gamboa.

Sir Larry is a Filipino entrepreneur, thought leader and a well-respected real estate professional in the Philippines for decades. Once I heard of his advice I didn’t think twice of putting my own take on it to share here.

So if you’re ready, take out your self-assessment pad and spare a minute to reflect. Here are the 4 Hs that every real estate agent must possess in order not to fail in the business.

HONESTY

Real estate is one of those industries where the potential to earn lucrative commission is one open house away. Compared to luxury retail items where sales people are bound in their plush, well-lit, champagne serving stores armed with CCTVs, dealing in secret is not impossible in sales and leasing of apartments especially when the stakes are high.

For some people, they may be tempted to keep a listing in secret from their brokers or associates. Other times, they may overprice a client and pocket the change themselves.

However, here’s a little (not-so) secret that goes against that: there is no amount of cash in this world worth living life without integrity.

Karma is real and instead of surviving, you might find yourself in a worse position than where you are now.

If you’re in rock bottom, dust yourself off, call up your family or friends, and get the help you need.

Don’t lie and cheat to people in order to get ahead because what goes around always comes back around.

HUNGER

I’ve seen many people get into real estate for various reasons. Some are truly inspiring where you just know they’re perfect for the job.

But there is one type that when I meet, no amount of mastery in poker face can hide my incredulous look: the person who goes in the business with a no-can-do attitude.

They are the opposite of can-doers who are known for their success because of their optimism and perseverance.

The no-can-doers may have entered the business without a solid plan or goals in life. Maybe mom and dad own the firm and so there’s not much need to exert effort to build himself.

Or it could be that the agent given his experience, are skeptical about change. He doesn’t embrace transformation and innovation. and easily gives up when presented with changes in plans.

It’s unacceptable when some agents try to fool themselves into thinking that showing up is enough. Going to the office without so much as a strategy on how hit a quota will not close the deals. And without closing deals, you don’t have a commission.

So instead of complaining and making excuses for the lack of resources, go and create it for yourself. Don’t sit around and whine when your broker or developer you’re under don’t extend enough support. Be proactive and be persistent in achieving your own goals.

HARDWORK

This would’ve like earned an “aha, of course” reaction from you.

Countless motivational videos, books and articles highlight hardwork as a must to be successful. I don’t disagree, but I have a subjective view of hard work.

In the millennials segment, young ones like myself have our own spin on traditions. We believe that working hard can’t be without working smart.

I firmly believe this became the norm due to the fact that we grew up in the digital era.

Gone are the days where an agent like my mother explains home payment terms manually to prospects. If there’s an error, she had to go back home, re-type it, print it. And then run back to meet the client at his home to go through them again.

Now everything is on a swipe of a phone. With technology, almost everything being done by human can be done in half the time.

So this puts the hard workers at great advantage because they can integrate all these new tools. For real estate agents, this means using technology to increase productivity by easily tracking workables. And with more time, the number of new and existing prospects talked to on a regular basis can be tripled.

When you’re consistently improving, creating, engaging and producing, there’s no stopping you from reaching the top. You can stay there for as long as you can, except if you forget to possess the next characteristic.

HUMILITY

So say after years of hard work, staying focused and consistently chasing deals you made it on top of your game!

Where before you only wore the most affordable suit you can find, now you can afford Zegna. You feel like a brand new person, looking and talking a different language that goes like ‘a me piace l’Prada’.

Now, going to client meetings is a breeze because you have your own chauffeured car. It even causes bystanders to stop and stare, or earn you points from your prospects.

Those are great rewards. Which you should bask in because you earned it!

But don’t forget to hold yourself in check.

An upgrade in wardrobe and wheels doesn’t have to come with a downgrade in attitude.

When does the new-found status start to make people around uneasy?

Well, sometimes it begins with humblebragging.

Then it can move on to something more apparent like walking with some sense of entitlement.

With a certain status is the tendency to leave old habits and hide things from your past. Soon you could be a little patronizing towards others to the point where as if you didn’t go through the same experience.

Don’t let success get into your head that brings negative results. You want to be the same realtor who’s friendly to his peers and patient with prospects. To last in this business, you want agents to collaborate with you, and not corroborate against you.

without-these-qualities-real-estate-agent-fail

Final Thoughts

Remember, the relationships you create and nurture in real estate are important aspects of the business.

If you’re not aware of your actions, you risk hurting your reputation and everything you’ve worked so hard to build.

Instead of taking account of how many wow or likes you can get over your new purchases, take account of the kind of person you’re becoming on the way to the top.

Life is so much better when you’re shining, not just on the outside, but also on the inside.

Be hungry.
Be honest.
Be hardworking.
And always stay humble.

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