Coaching and training real estate agents as a Principal Broker and Director of Sales is much different than coaching agents that really want it. Agents who have it pushed on them are less open. Agents who seek it out are more likely to listen and do the work.
Real estate is like a maze. When you are in the middle of it, everything is confusing. When you have an outside perspective of it all, the path is much clearer. This is what you get from peers/coaching/brokers/mentors.
Few agents get into this business with any idea of how hard it is or wide the variety of skills they need to have a chance to succeed. They get overwhelmed and hit smack in the face by the Dunning-Kruger Effect where they finally understand how little they know. Some recover from this and some don’t.
Almost every agent says their goal is to make $100,000. But there are some problems with this goal.
- It’s an arbitrary number and they always say even less is acceptable.
- There is rarely any business plan to how that is going to happen.
- The average agent makes about $40,000. Most aren’t willing to do the extraordinary to earn $100,000.
- When the going gets tough, agents will start looking around at jobs that will give them a similar income that they are comfortable with earning.
If an agent’s main reason of getting into real estate was to be thier own boss, they are in trouble. That is the easiest goal to hit. The agent doesn’t have to listen to anyone and just runs around doing busy work. Either you become a boss or you higher a boss/coach/accountability partner to hold you accountable to your big dreams. An ego can be the slow death of an agent’s career.
The ability to consistently execute is what is missing in almost all of us. Waiting for motivation is the fastest path to nowhere. Motivation follows action and we often get that backwards. I’ve seen agents with no skills or knowledge kill it because they just act. Sure, it can be chaotic but they will figure it out.
A clouded mind will do nothing. Agents need a clear vision and mission of why they are taking on this crazy career. The reason people say to follow your passion is because it takes an amazing amount of drive to push through all of the obstacles you will face in real estate.
Talent and charisma are no guarantees to success. Sometimes they are a hinderance because then the agent relaxes thinking they can rely on that instead of the hard work.
Too many come to me when it’s already too late. They don’t have the time or money to turn things around. There is no magic except in the work.
