Why Most Agents Fail in Real Estate

When you work inreal estate sales or leasing, the success you achieve as an agent is geared closely to the way in which you focus your efforts and how you plan your progress. Unfortunately many agents are what we call ‘stop and start’ salespeople. They do not stick to something long enough to make a go of it; after 2 or 3 days they stop one strategy and start another. Their business is as erratic as their plan; listings and commissions are unpredictable.

Success in the industry takes time and effort on the right things. Directed action to a particular plan of personal marketing is critical. It really does not matter too much about who you work for; it does matter how you promote yourself as a property specialist in the local area. Getting the message out to your prospects and property owners is really important. Sitting around the office waiting for the telephone to ring is a waste of time.

So how can you focus your efforts and what does this plan look like? Here are a few ideas to help:

  1. Some agents fail because they do not define their market area on a map. You are only one single person, so you cannot spread yourself over a very large area; it does not work that way. Get to know a defined area or territory that is manageable by one person. Get to know every property and property owner in that area on a personal basis.

 

  1. Others fail because they do not have a specialty in what they sell or decide what property type they would want to focus on (industrial, office, or retail). Without specialty, it is difficult to be versed with what you sell particularly with the facts and figures associated with property and this affects your performance for your market sector. In that way, you can speak as a specialist.

 

  1. Another reason why some people fail is that they cannot handle rejections, objections, and criticisms. As a business person, if you cannot handle the above-mentioned feelings, then you will always have issues because not everyone will always buy, talk positively about you or accept what you say even when you feel you have put in your best.

 

  1. Again, some real estate agents do not succeed because they do not know how to present themselves to their clients. With real estate, marketing is always the key and one of the ways is to be well versed with your products plus using the right mediums to reach out to your target buyers. Plus you have to be able to monitor all the other listings that are available for sale or lease. This means getting to know essential points such as the improvements offered in the property, the cash flow, rent, tenant mix, the risk, the price, and the reason for marketing now. When a property comes on the market, start to track its progress and time on the market.

 

  1. Also, one of the reasons some real estate agents fail is because they do not want to put in the required hard work. Some of them remain in their comfort zones and expect things to just work out perfectly well. The real estate business like every other business requires that you should work out; this includes, outsourcing clients, property, marketing (traditional and social media) plus advertising. Failing to do this can either slow down or kill your business.

 

Do not be like that! Start taking action, be coachable, committed, self-disciplined and consistent!

 

Kati

 

 

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