Try This Tactic And You'll Never Live Off Your Savings Again

Property Agent Basics / Motivation

Try This Tactic And You’ll Never Have to Live Off Your Savings Again


How Committed Are You?

The biggest sign of your commitment to YOUR business is to GROW it.

Yes, that's right.

If you're not growing your business, then it's dying!

But many agents might say,

"Hey Yasser, I don't have the money to grow my business..."

That might be because they're struggling to close deals, so they don't have enough money.

Or they might be already living off their savings.

So they think it takes money to make money...

They think top agents stay at the top because they have the money to reinvest back into their businesses.

Many agents are telling themselves that business is tough, and you've got to have the money to make a business work.

Well, I've got news for you.

There's hope for you yet!

There’s Still Hope For You

It's not true that it takes money to make money.

Anyway, that idiom is only relevant to the bankers. And we're not in the banking business. We're in the business of selling real estate.

So, let me tell you what I was discussing with my mentor the other day.

He told me the old-school definition of an entrepreneur was to solve problems for a profit.

And I agreed with him.

Let's think about it at a deeper level.

What this means is that we always forget that we're problem solves first. The money comes later (after the problem is solved).

Meaning, nobody pays us upfront!

Have you seen any realtor getting paid BEFORE he provided his services? No right?

That doesn't happen, ever.

Yet, it's still so easy to forget.

Well Known But Little Understood

Don't you realise that, ultimately, our clients pay us to solve THEIR problems?

It means we've got to come from the frame of mind of contribution; that is, solving their problems first, and expecting the money later.

So what we should be doing is to focus on people who have problems to solve, and then serve them!

Easier said than done, isn't it?

Here's what nobody is telling you.

Pleasure VS Pain

I learnt this from my mentor David Sandler.

He taught me that prospects are either:

  1. moving towards Pleasure or
  2. away from Pain.

In boom times and prosperity, people are all thinking of looking good, feeling good and showing good.

That's why they're busy buying cars, condominiums or luxury watches.

Do they do that in a downturn? Nope.

They're moving AWAY from Pain, that is, busy cutting losses, liquidating in cash, putting  up defences.

Sandler also taught me that people buy emotionally, but justify it intellectually. That is, I bought my expensive Rolex watch, because I wanted to look, feel and show good. I wanted to feel rich. But my wife was horrified. So I justified to her that Rolex watches stay in demand and increase in resale price. I bought my Rolex emotionally, then justified it intellectually.

So, back to pleasure vs pain. Let me ask you, which emotion wins? Which emotion is stronger? Please or pain?

It's pain. Pain is the STRONGEST emotion of all.

People will do ANYTHING to avoid pain. Literally anything.

That's why there are sellers who are willing to get rid of their property because it is bleeding them dry!

And your prospects are doing the exact same thing; buying emotionally and justifying intellectually.

So What Should You Do?

It's as simple as this:

  1. Find a Big Pain your prospects or clients have
  2. Offer them a solution
  3. Repeat

That's it.

Let me elaborate a bit here.

How do you find out what pain your prospects or clients are having? It's quite simple really. You ask them. In person. Via Whatsapp. Via a Phone call. I'm still surprised by many agents who just assume what their clients want. That's like driving in complete darkness with  broken headlights. You're bound to crash!

And how do you offer them solutions? When you use active listening and interviewing skills, you'll know what issue syour prospects have. You'll have a clearer idea and then you can simply go do some market research. It's what you were taught while taking up your license.

Third, to grow your business, you must keep doing this.

That, my friend, is how you will never again have to rely on your savings.

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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.


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