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Learn why almost all Realtors fail -- and how to not to be like them.
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0:00
87% of Realtors fail let that sink in
0:04
for a moment so if you're watching this
0:08
and most probably you're headed for
0:11
disaster but don't panic because for the
0:13
past four years we have been helping
0:15
real estate agents get their start in
0:17
the industry and today I will reveal the
0:21
reasons behind the Staggering statistic
0:23
how you can flip the script and avoid
0:25
them and tips to ensure you don't crash
0:28
and burn are you ready to join the
0:31
successful
0:32
133% well if so then let's dive in
0:36
reason number one interested but not
0:39
invested real estate is not a hobby
0:42
success in the industry requires full
0:45
commitment and let's face it many
0:47
entered the field as a second or third
0:50
career often lured by its glamorous
0:53
portrayal in the media while the Sleek
0:56
suits fancy cars and luxury property
0:58
deals can be part of the story they are
1:01
definitely not the beginning most
1:04
probably you won't see your first
1:05
commission check until your six month in
1:08
the industry but if you want to succeed
1:10
in real estate then do what it takes
1:13
even when it is not
1:15
convenient and please remember to keep
1:18
your vision in
1:19
Focus well success takes time and effort
1:23
reason number two no Role Models the
1:27
second reason why most real estate
1:29
agents fa is because they don't have
1:31
Role Models remember the saying that you
1:34
are the average of The Five People You
1:36
spend the most time with well real
1:38
estate agents usually don't surround
1:41
themselves with other agents they want
1:42
to mirror if you want to average
1:45
250,000 a year over 5 years but don't
1:49
have an agent on your team with that
1:50
kind of track record achieving it will
1:53
be exceptionally challenging this is why
1:56
I always stress interviewing Brokers
1:58
before joining a team
2:00
ask about their achievements especially
2:03
Financial achievements find out the type
2:06
of support they provide to agents and
2:08
how they plan to contribute to your
2:10
overall success at the end of the day it
2:13
is crucial to make sure that you join a
2:16
brokerage flooded with the type of agent
2:18
that you want to emulate and then tear
2:20
them apart I mean not literally but
2:23
study their financial achievements
2:25
character relationships Etc and simply
2:29
try and replicate them reason number
2:32
three they don't join a team third place
2:36
is the lack of support and it ties back
2:38
to not having the right Role Models
2:41
while Independence is really admirable
2:43
but attempting to run solo as a newcomer
2:46
can be detrimental and as we discussed
2:48
in our previous video seven proven
2:50
strategies for success for which I will
2:53
leave a link in the description below
2:55
joining a really established team can
2:58
provide you with invaluable benefits
3:00
such as access to experienced
3:03
professionals knowledge and strategies a
3:06
support system during the challenging
3:08
early stages opportunities to learn
3:10
various aspects of the business
3:13
handson so after you get that license
3:17
don't just join a team to have a place
3:18
to hang your license find a team that
3:21
can help you grow reason number four no
3:25
number goals another reason why many
3:27
real estate agents struggle is because
3:29
they don't set clear and quantifiable
3:32
goals saying that you want to make
3:34
60,000 this year is not really a goal it
3:38
remains a desire until you don't curve a
3:41
path to it and to curve a path to it you
3:44
must understand your numbers for example
3:47
a general rule of thumb in real estate
3:49
is that it takes a new agent 40 to 60
3:51
conversations to close one transaction
3:55
so if we go back to our 60,000 goal we
3:58
need to understand what is the average
4:00
commission you can make from a sale
4:02
according to Zillow the current average
4:03
house price is around
4:07
$362,000 if you hopefully still have a
4:09
working Commission of 2% then you would
4:12
make around
4:16
$7,300 at an 8020 split you take home
4:21
around
4:23
$5,800 that means you have to close at
4:25
least 10 deals a year to hit that goal
4:28
now work backward how many conversions
4:31
do you need in a year let's say
4:34
according to our calculation you need
4:35
around 600 calls then divide this number
4:39
into quarterly calls monthly weekly and
4:42
then daily calls but and I mean this is
4:45
a crucial rule don't miss your daily
4:48
numbers if you miss those daily numbers
4:50
then you won't see any success an extra
4:53
tip always bucker to increase your
4:55
margin of success reason number five no
4:59
stress strategy a well-defined strategy
5:02
is everything and many agents fail
5:04
because they don't have a clear and
5:06
comprehensive plan for their business
5:08
just imagine getting your license and
5:10
jumping into the industry without a plan
5:13
of success but here's what a
5:16
comprehensive strategy should
5:18
Encompass number one market analysis you
5:22
have to conduct thorough research on
5:24
your local market understand property
5:26
values neighborhood Trends and economic
5:29
factors influencing buying and selling
5:31
patterns pick a neighborhood and Pitch
5:34
your tent there then do your target
5:37
market identification Define your ideal
5:40
client profile are you focusing on
5:42
firsttime home buyers luxury Properties
5:45
or commercial real estate streamlining
5:47
will make it easier to provide better
5:50
value what is your unique value
5:53
proposition determine what sets you
5:55
apart from other agent this could be
5:57
specialized knowledge exceptional
5:59
customer service or Innovative marketing
6:02
techniques if you don't know what your
6:04
cutting G should be then I'd recommend
6:06
starting with customer experience that's
6:08
always the safest bet simply put spend
6:11
time researching the industry know what
6:13
is happening in your community and why
6:16
do your lead generation make your calls
6:19
have a schedule and stick to it reason
6:22
number six don't generate enough
6:25
lead can I State something annoyingly
6:27
obvious lead generation is the lifeblood
6:30
of your business and many agents fail
6:33
because they don't have a systematic
6:35
approach to attracting potential clients
6:38
to develop an effective lead generation
6:41
strategy you need to know yourself your
6:44
lead generation effort should be always
6:47
tailored to your strengths and your
6:49
personality don't try to force a tactic
6:52
on you that work for other agents else
6:55
you will always have a tough day at the
6:57
office choose methods that align with
7:00
your personality and skills if you excel
7:02
at face to- face interactions and
7:04
prioritize networking or even community
7:07
events like pot loocks you could even
7:10
create your own events and invite people
7:12
from your community focus on the core
7:15
four number one your database look for
7:18
leads in your sphere of influence
7:21
contact those people on your mailing
7:22
list who are on the market for a new
7:24
home or better yet who can refer people
7:27
to you number two openhouse
7:30
make your open houses social events use
7:33
them to network and get new contacts
7:36
three geof forming focus on one location
7:40
and increase both your visibility and
7:43
influence in that territory you may need
7:45
to do some door knocking join Community
7:49
organizations or crash a few community
7:51
events just kidding make sure you have
7:54
an invite and number four dominate
7:57
social media with over 5 billion users
8:00
social media platforms are no longer
8:03
just communication tools they are
8:05
marketing platforms use your accounts to
8:08
advertise your listings build trust and
8:11
provide value but that doesn't mean your
8:13
content should be extravagant post a
8:16
simple workout picture to show your
8:19
morning routine or a quick behind thes
8:21
scenes video of your lead generation
8:23
efforts to cement your Authority and
8:26
remember be consistent lead generation
8:29
shouldn't be a once a week activity it
8:32
should be a daily practice so set aside
8:35
dedicated time each day for lead
8:38
generation tasks reason number seven no
8:41
sales game Real Estate is fundamentally
8:44
a sales profession but not everyone who
8:46
will enter the industry having measur
8:48
the art of selling eyes to an es schemo
8:51
but if you want to be part of the
8:52
successful 13% then you have to inhance
8:55
your sales abilities and that starts
8:58
with master ing the art of listening
9:01
effective selling starts with
9:03
understanding your clients needs and
9:04
desires practice active listening
9:07
techniques develop your negotiation
9:10
skills and practice these skills
9:13
regularly learn to handle objections
9:16
anticipate common objections and prepare
9:19
thoughtful
9:20
responses understand buyer psychology
9:23
study the emotional and logical factors
9:26
that influence buying decisions in real
9:28
estate practice your pitch regularly
9:32
refine and practice your listing
9:34
presentation and buyer
9:36
consultation roleplay scenarios practice
9:39
different sales situations with
9:41
colleagues or mentors this builds
9:43
confidence and helps you prepare for
9:46
Vari scenarios and develop emotional
9:51
intelligence understanding and managing
9:53
your own emotions as well as those of
9:56
your clients is crucial in sales
9:59
reason number eight no followups
10:03
effective follow-up is often the
10:04
difference between a successful real
10:06
estate agent and one who struggles to
10:09
build a sustainable business many leads
10:12
and potential deals are simply lost
10:14
because of poor followups following up
10:16
with a potential once twice or even
10:19
three times is not enough you have to
10:22
keep at it and the best way to do this
10:24
is to have a structured approach when
10:28
creating a follow-up system system
10:29
remember to personalize tailor each
10:32
followup to the individual client or
10:35
lead reference previous conversations or
10:38
specific properties they were interested
10:40
in and try by all means to avoid generic
10:43
messages an example of a message you
10:45
could craft to follow up on a former
10:47
client could read something like this
10:50
hey Sam I was reviewing some recent
10:52
Market data and came across some
10:55
exciting information about your property
10:57
can you believe that since you purchased
10:59
your home 5 years ago its estimated
11:02
Equity has increased by
11:04
50,000 if you'd like I'd be happy to
11:06
provide a more detailed analysis of how
11:09
this appreciation compares to similar
11:12
properties in the area or discuss what
11:16
this might mean for your overall real
11:18
estate portfolio feel free to reach out
11:21
anytime if you have any questions about
11:23
the current real estate market but for a
11:26
New Prospect you could send a text like
11:28
Hey sir
11:29
I've just come across a new listing that
11:31
perfectly matches your criteria it's not
11:34
on the market yet but I can arrange a
11:37
private showing this week interested in
11:39
getting an early look before it goes
11:41
public let me know if you'd like to
11:43
schedule a viewing or need some more
11:45
details to keep your leads warm and
11:47
engaged develop a long-term follow-up
11:50
schedule align with their needs your
11:53
schedule could look something like this
11:55
day One initial response day three fall
11:59
follow-up Coral email day seven checking
12:02
with relevant Market info day 14 Another
12:06
Touch Point day 30 monthly market update
12:10
but don't forget the golden rule of
12:11
marketing communication do not spam if a
12:14
lead says no thank you then it is no
12:17
thank you thirdly try to provide value
12:20
in every interaction don't just ask if
12:23
they are ready to buy or sell offer
12:25
something of value in every followup
12:28
this could be Market updates relevant to
12:31
their needs new listings that match
12:33
their criteria and information about
12:36
local developments by measuring the art
12:39
of followup you will not only close more
12:41
deals but you will also build a loyal
12:44
client base who will provide referrals
12:47
and repeat business for years to come
12:50
there you have it eight critical reasons
12:52
why 87% of Realtors fail and most
12:55
importantly how to avoid being part of
12:57
them remember testing real estate isn't
13:00
about luck or Charm it's about
13:03
commitment strategy and consistent
13:05
action please like subscribe and hit the
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notification Bell interested in more
13:10
real estate success tips then check out
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this video and now go out there and
13:15
dominate your Market
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