So the other day I wrote about 39 common mistakes property agents make (including me), and many agents asked me to write in the solution as well.
OK, I heard you. And I’m simply adding in the solutions next to each mistake. They’re italicised for easy reference.
Here you go:
- Not differentiating yourself from all the other 28,000+ realtors in Singapore (SOLUTION: Craft your Unique Selling Proposition. I teach this in great detail inside my new upcoming book Property Agent Secrets.)
- Taking prospects for granted (SOLUTION: Practice gratitude and go out of your way to find their needs. Delight them. Surprise them in a good way.)
- Assuming prospects will automatically call you (SOLUTION: Make time for follow up.)
- Worrying often about too much competition (SOLUTION: Work on raising yourself above your competition. This is linked to your USP in point 1 above.)
- Thinking your Agency’s branding will work for you (SOLUTION: Your agency earns a cut from your commissions. So its branding is partially designed to attract other agents. You need your own branding.)
6. Expecting free handouts from Uplines and Team Leaders (SOLUTION: Don’t. Only you can solve your own problems. Only you have a direct stake in your success. You want to provide for your family right?)
7. Not taking full advantage of opportunities, resources and education provided by your agency (SOLUTION: There are so many free resources available out there that I’m often shocked at the lame excuses agents still give me. Start taking more responsibility for your own career and grab every opportunity. Every top producer once had to start from zero.)
8. Being unprofessional by stealing other agents’ clients (SOLUTION: Just don’t tarnish the real estate profession by doing this. The market is BIG. You need to shift your mindset from a scarcity mindset to abundance mindset. It works.)
9. Changing agencies often, thinking the next one will make you a top producer (SOLUTION: Want to know what is the real impact of an agency on your success? Debatable. What is the impact of YOUR own efforts? Massive!)
10. Not running any advertising at all (SOLUTION: You can’t rely on your circle of contacts forever. Real estate is a slow business and buyers don’t need a house in the next 5 years. You need more strangers to make this business work for you.)
11. Assuming you need a $10,000+ budget for marketing and advertising (SOLUTION: You don’t. Free ads still work, but require massive discipline, time and effort. It’s free for a reason. I teach effective strategies on the best free ads.)
12. Running some advertising but frequently pausing it out of fear (SOLUTION: If you look around, the reason top producers win is partially because their ads are running all the time. Never stop advertising out of fear of running out of budget. Earn more money to finance your next campaign.)
13. Not stopping bad advertising or killing bad ads in time (SOLUTION: Yes, you need to run ads, but you also need to run only ads that work. Only winning ads put more money in your pocket. Bad ads only suck your precious advertising dollars and make Google, Facebook and Media founders richer and richer.)
14. Spying on other agents’ listings to see what they have to sell (SOLUTION: Not really an effective use of your time. Did you really sign up to do this?)
15. Spying on other agents’ advertising and clicking their ads at their expense (SOLUTION: Again, don’t do this. This is partially the reason why we have a vicious cycle of ever-increasing advertising costs today. Other agents’ ads may not work for you, all the time. Do you enjoy to be spied on? No, unless you’re lying.)
16. Using ineffective marketing and not recognising what is effective (SOLUTION: This is always a constant problem in our industry because agents simply copy other agents without knowing what truly works with solid data.)
17. Using outdated methods in a post internet world (SOLUTION: Be more vigilant and flexible. Try out new things. Lower your expectations.)
18. Getting angry with PropertyGuru wanting to make money or any other service provider (SOLUTION: Build your own platform. Independence from media comes only from owning your own medium. Create one. At my company, we do this for our agents.)
19. Not wanting to learn new things (SOLUTION: It is human nature to grow fat and lazy when things are going well. Fight this to stay afloat in the bad times, which I guarantee will take you by surprise when it does arrive. Rekindle your fire.)
20. Thinking product knowledge is enough (SOLUTION: It’s not.)
21. Learning all the time but never applying anything (SOLUTION: Then you’re a big procrastinator. Get into the habit of getting sh!t done…)
22. Thinking you already know it all (SOLUTION: No you don’t. None of us can or ever will. The trick is knowing just enough to get things done efficiently and effectively.)
23. Assuming you don’t have the time for education (SOLUTION: Make time for it. Education is the foundation upon which you build tomorrow’s prosperity.)
24. Not learning how to use newer technologies or being simply too afraid (SOLUTION: You can’t run away from tech all the time. We will become more and more dependent on technology in future. Many of us already are. People are buried inside their phones! Tech is your friend. Embrace it. Master it. Use it.)
25. Not being flexible with new changes (SOLUTION: This has more to do with your own personality than your skill set. The type of person you are is an extremely important factor in your success or failure too. Work on your own character. This is often the toughest battle to win: against yourself.)
26. Wasting money on courses which are not specific/tailored to Singapore real estate (SOLUTION: Get someone who has a proven track record. The internet makes it very easy for anyone to sell any course, and course websites make this problem worse. More importantly, you need more implementation! My new and upcoming Top Producer Bootcamp is the only no-excuses solution for agents of its kind; to get you to take massive action right now.)
27. Not following up at all (SOLUTION: Follow up is everything. Period.)
28. Not following up fast enough (SOLUTION: You will lose your prospects and clients to the next agent who does a better job of this. Guaranteed.)
29. Assuming they will call you back after your first missed call (SOLUTION: They won’t. Who does? Only friends or family.)
30. Being disorganised and inconsistent with follow up (SOLUTION: You need to systemise the entire process of following up, or you will always struggle with chronic low conversions and still wonder what’s wrong with you.)
31. Taking past clients for granted (SOLUTION: Want me to tell you the cold, hard truth? You got fat and lazy. Get up and start showing them some love.)
32. Doing a mediocre job of servicing your existing clients (SOLUTION: This is the price you pay when you’re busy prospecting all the time and end up neglecting your customers. You need to stop doing that right now. Using the Reverse Prospecting methods I teach, you will never again waste time chasing prospects and will instead WOW your customers with service that delights.)
33. Not bothering to communicate often with past and/or current clients (SOLUTION: This is what happens when you are too busy working, working, working. You’re a slave to your business. You will need to work ON your business, not IN it.)
34. Assuming clients will automatically refer you to others (SOLUTION: They don’t.)
35. Recruiting too early when personal sales are not big enough (SOLUTION: Lower your ego and focus on your basic business foundations first. You cannot build a strong house on quicksand.)
36. Delegating ineffectively to downlines (SOLUTION: Most, if not all agents are bad managers. This area is where even top producer agents themselves struggle. We were never trained to manage subordinates. All we are occupied with is to sell, sell, sell. I teach effective methods and processes to solve this issue permanently, so you free yourself up to do what you do best; sell homes.)
37. Hiring the wrong agents in team (SOLUTION: This happens because your own priorities are wrong. You end up hiring clones of yourself. Stop gathering an army of ‘Yes Men’ and get agents who are your direct opposites in every way.)
38. Neglecting to train downlines, thinking they know (SOLUTION: They don’t. Nobody can read minds. If you have this problem, then it means you have a communication problem. Teaching is simply communication at its core.)
39. Expecting super salesmen within just days after recruiting (SOLUTION: All good things take time. Enough said.)
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Yasser Khan is a real estate coach, speaker, and trainer at YasserKhan.SG who teaches Singapore Realtors how to make more Money, have more Time and enjoy more Freedom.
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