Mindset of a Successful Realtor

What is stopping your success story in real estate sales? Bruce Lye and I had a deep discussion on this when we were enroute to Myanmar to check out their real estate scene earlier a week back. Some of what we shared among each other were facscinating since they were all common when we were aligning them.

Ps. This applies more to self employed environment to most real estate salesperson in Singapore. If you can relate to it in your market, we do hope this is useful to you.

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1) The Ones that has ideas

They have the best planned routes, with back ups and the best text book answers for their real estate sales path. They consulted all the best people in the world for ideas. The ideas eventually… remain as ideas. We have the highest attrition rate here when it comes to this category who joins the industry.

The main problem is with the motivation of this group is not strong enough for them to overcome their physical and mental barrier to act on what was being advised, even if the advice could be sound. They did not act on their own belief or advices that was given.

They think they tried. 

2) The Ones that almost broke through

These realtors were hardworking. They’ve the best plan lined and work their way through. Business is of such, when you have no clarity, you preservere, grit your teeth and believed in your plan eventually breaking out from the tenacity you placed your heart in.

With that uncertainty, you can’t see the line. And the ones that did not have enough faith or believe in their plans eventually cowered their habits back to their safety net, and decide maybe the plan that was in front was not meant for them. Little do they know that, the breakthrough was just right ahead of them.

If the plan that you believe in after seeking advices from the good realtors is truly soundproof, you should stick through till you see results. Other better way of sticking through with your grand plan involves making small plans which will possibly bring you small successes before you eventually reach your goal. That would seem more jovial and realistic.

3) The Ones that reached a breakthrough and got lost in translation.

The six digit dream has been achieved, and you lie the crown of most champions in the Million dollar league of elite real estate salespersons. All your months or years of effort has finally seen fruits of labor. Time to take a break!

The break never seem to end, and you became lost. There are a lot of blaming mechanisms that happens in the process, either by way of how the market condition is, or just being physically tired and unable to rev the engine to warm up for work again.

The solution to such situations is to take small vacations, or alone time (technical breaks I call them) by forecasting them right ahead when you achieve small objectives along the way so you would not have a sudden big down time till you lose your momentum.

Why would some new salesperson in the market fair even better than those who has been in the industry for awhile whom already know what they should do? Momentum is the key, and sustaining that momentum requires planning and aplenty of action, whether it’s a big or small movement.

4) The Ones that decides to make money and leaves for another (or got sick of real estate sales)

Your aspiration to open a cafe, manufacture a product and distribute it to the world, run a spa business. The raving of your brains to think of the fastest way to raise the money to do what you love to do.

Sounds familiar?

People who successfully did real estate sales technically would be able to pull through whatever they do with the tenacity they had especially if they would have plan to do something else right from the start. But if there is no such intention from the very beginning to have even thought of the other business plans which they have wanted to start-up, they might eventually just fall back to real estate to seek second, or third chance at other business paths.

Brokering real estate deals is not simple, the part where you have your conviction of hanging your boots initially to be a full-time salesperson is the hardest hurdle. Let alone coming back at real estate again after leaving.

No doubt sales here brings the best form of returns and the best chance of breaking through quickly to reach your destination, but if you are really thinking of getting your money from here to fix your dream start up, make sure your own business plan for your start up is sound and practical.

Otherwise this vicious cycle will just keep repeating itself.

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5) The Ones that love what they do and continues to be on top of their game

The word love is big especially for a career choice. Some people like what they do and find the activities and results exciting to them, they continue to deliver consistently as if they were almost on drugs. These are the people who love embracing what they are doing.

Though most of you would think that these people have the love for money, which is not tangible, you would be surprise at the answers these top people will give you when you ask them what is their motivation.

Love for money rarely lasts for real estate salesperson especially the top ones, because they would not have enough time to spend them anyway. Also if they were just motivated by monetary gains, they would have easily made mistakes along the way, as real estate sales is based on trust and relationship building.

Reputation cost more than monetary gains.

Love for real estate sales can be cultivated. Ask yourself what is the motivation behind these apart from money. The freedom of time? The friends you make? The excitement of successfully closing a sale? The results from guiding along another salesperson friend?

Start from there.

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Written by Benson Koh
Benson is a professional real estate realtor with over 11 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages both SRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 7 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]