The Hardest Part About Getting Started in the Real Estate Business

 ….is the fact that starting cost something. Starting cost time, effort, and money. When you first get started you figure that maybe you could do it part-time. You reason that it’s possible for you to do it in conjunction with your full-time job. You also figure that it wouldn’t be too hard to do it on the weekends or maybe even six months out of the year after you put a certain amount of money in the bank from commissions. 

Suddenly you figure out how difficult it can be to generate leads, then turn leads into conversions, and conversions into sales, and sales into closings. The amount of time and effort you had to devote to the craft suddenly causes you to wonder about what you got yourself into and rather the headache was worth it all. 

But no one told you about the cost involved did they? You thought it was all about selling to family and friends and that they would keep you from having to spend any of the money you personally saved away. But somewhere along the line you started to realize that in order for you to make any money you were going to need to spend some too. 

Sure, starting can be exciting….

And, starting can be stressful….

Starting can also be a mystery. But it doesn’t have to be.

As with anything worth doing there’s always investments that must be made on your end. In order for the venture to work it requires labor (both emotionally and physically), time (more than you think), and money (more than you were willing to spend). And there’s no way around this fact. Shortcuts are often made but rarely do they pan out. To build the kind of business you dream of will always require real sacrifice and risk. All agents start their business with plans and ideas but few execute. Here are a few things you may want to commit to as you walk down the volatile road of running a real estate sales business.

  1. Plan the day – Figure out what you’re going to focus on the day before. Dwindle your task down to two categories. Lead Generation and “Everything Else.” Spend 80% of your time on lead generation and 20% of your time doing “everything else” that you have to do but isn’t as important as bringing in new leads which is the life blood of your business.
  2. Execute – None of your plans matter unless you actually do what you said you would. This is where most agents fail. They don’t execute! They come up with new ideas, get distracted by task that don’t produce revenue, then lie to themselves and say they’re going to work from home because they got nothing else better to do. Execution is the name of the game. The more focus you place on doing the work the better the end result.
  3. Keep it Simple – There’s really no big reason to re-invent the wheel in this business. Unless you have some sort of innovative idea and financial backing to make it work chances are you’re going to need to rely on the fundamentals business of building (consistent advertising, good customer service, sales, referrals, and good ole fashion hustle). Keep it simple and focus only on the work that matters.

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