Here's what nobody is telling you about what it takes to succeed in real estate:
- Sleepless nights
- Mental stress
- Emotional distress
- Hard work
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Yasser Khan is a real estate coach, speaker, and trainer at YasserKhan.SG who teaches Realtors how to make more Money, have more Time and enjoy more Freedom without all the B.S.
The price for success. That's a scary sentence, isn't it? Did you know the price of success is not just in terms of dollars and cents, it's also much more than that... in terms of effort, time, convenience, opportunity cost... So it's much more than just the price in dollars and cents. I think we should adjust our expectations in terms of what it really takes to succeed in real estate. Hi, my name is Yasser Khan. I'm the author of Property Agent Secrets book, which is the most powerful book in the entire real estate industry, guaranteed. You can get this book for FREE, at propertyagentsecrets.com and just pay a small shipping fee. So, why is it that everybody is talking about the price of success but nobody is talking about the other aspects? I'm sure you know it takes a lot to succeed.. You've got to invest in advertising, you've got to spend dollars on marketing, printing costs for flyers, whatever stuff that you need to do... And there is definitely a lot going on to get your (seller's) home sold... to get a commission cheque. So, success is not simple. It's not just about spending money to make money. No, it's not just about that, although that is true to a certain extent. But beyond (spending) money, there comes a point of diminishing returns, where the amount of money you put in and the returns you get lower and lower. (This is true about the Breakdown Effect inside Facebook Ads.) And that is where you may need other stuff... other things to help you succeed. And some of that has to do with skills, teams, technology, your own self, your entrepreneurial personality, you successful habits... all of these come into play to determine your success. So if you want to make a million dollars selling real estate, then the amount of marketing you need is definitely going to be much higher than, if you want to earn a hundred thousand dollars or even $10,000... So different levels of success, as you define it, require different resources and inputs. The higher you go, the more it requires you to master the skill of managing people and systems. It becomes more systems-dependent, less about your own skills. Conversely, when you're just starting out, it's not so much about systems but it's more about your own skills. You may not need a whole team when starting out. It's also becoming the case where property guru has been increasing their fees year after year.. It's the same thing with Facebook, with Google, etc. Every agent is using these platforms and contributing to the saturation over there. So, how do yo make sure you succeed? (Let me emphasise,) the true cost of success is not just about dollars and cents anymore... There is no denying that hard work is important for success. But not many people are willing to put in the hard work, which is the reason why not many people succeed either. If success was so easy, anybody would achieve overnight success! Everybody would be a millionaire! Everybody would have millions (of dollars). So obviously, (in the real world,) success is not easy... there's a price to pay for success. It requires hard work. Second, persistence; you need to be persistent to the point of not giving up. Too many people give up too easily and too early. If you look at all the successful businesses out there, most of the times the founder failed and failed and failed before even tasting success for the very first time. They never gave up! Even when we hear about fairy tale-like instant success stories, where the entrepreneur struck gold on their very first try, we must understand that that is actually very very rare. What is more likely to happen is that success requires a ton of hard work, tenacity, persistence, never giving up even in the face of seemingly impossible obstacles. Success looks so deceptively easy. Don't be fooled by that. It takes hard work, persistence, getting things done no matter whatever is required... Even if it takes working late at nights, sacrifice your sleep, sacrifice your comfort.. You see, many agents are not willing to sacrifice.. They're not willing to get out of their comfort zone... They don't want to temporarily give up their comfort... They just want to stay comfortable... So, comfort is highly overrated. And for this reason, people who are very comfortable, it's very very hard to motivate them. It's very hard to get them out of their comfort zone. Another uncomfortable aspect present to attain success is that it takes a lot of rejection. Rejection is a normal part of sales. If you're doing sales, you're bound to come across rejection. You're going to hear so many 'NO' before you hear a 'YES'. It's going to be a case of multiple NO's before just one Yes. This is part and parcel of sales, and life in general. So every No brings you closer to a Yes. Every rejection brings you closer to success. If you take rejection as an opportunity, as a learning journey, to improve yourself, then you're going to be improving... But if you're going to feel bad about why people are rejecting you, if you take rejection personally, then you're not going to see success, my friend! Earlier on I touched about sacrifices and rejection, now I'm going to touch on discipline and criticism. Discipline is very important. Discipline means that even though you don't feel like doing something, you still get shit done! And that takes guts... That takes discipline. And it's NOT easy... You have to get out of your comfort zone in order to get stuff done! And that requires discipline. That is closely tied to your motivation, your 'why'. Why are you doing this? Why do you want to do this? Why? So the motivation for your success must come from inside you not some external source like your upline or your mentor or peer pressure. It has to be coming from yourself! Otherwise, your chances of success are going to be very low. Now, the thing about criticism is that you have to be perceptive enough to listen to the right kind, and tune out the wrong kind of criticism. What many agents do is that they tune out every single criticism. First, you've got to determine which is constructive criticism, and which is destructive. You need to be able to read between the lines so that you recognise where you came up short, when you were wrong, so that you can view your progress objectively in order to move forward with your personal and professional growth. And that requires you to be open to criticism. You have to be vulnerable, you have to be open to criticism, for personal growth to take place. A sign that somebody is growing is that they're open to criticism, listens objectively, analyses themselves, put themselves in others' shoes, replay the event in their mind to understand what they did wrong, so they do things the right way.. That means you're ready to listen to criticism and grow. And a lot of times, you will face doubt. You'll doubt your decisions. That's normal. Doubt is not a sign of craziness! Normal people face doubt several times a day! That's perfectly normal! Sometimes you plan something but things don't happen the way you want to, causing you to doubt yourself. What you should do instead is look at things objectively, as a learning. That's it! When you're learning, you are getting better! You're able to grow as a person, you're able to grow professionally. So whenever faced with doubts, you should just move on! Be bolder than you are! If you're too bold, then tone down your boldness! And there is one more thing; risk. You know, a lot of people are very risk-averse. By risk I mean things that are not proven. By the way, even your own business may not be proven, so there's definitely some risk! There's a risk of missing out on better opportunities, which is an opportunity cost. So you have to give up on an opportunity to focus on doing what you're doing right now. So if you love real estate, if you want to get more top producer awards, then you have to be willing to put in the effort, get out of your comfort zone, take constructive criticism, face rejections, open to making sacrifices, willing to work hard, be persistent, be disciplined, face doubts be okay with failure as learning... that is how you're going to have a much better chance of success!
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