While you may not be buying a business or starting a brick and mortar store from scratch, as a realtor you still are an entrepreneur. While you may not be the president or CEO of your own company, you are still just as much responsible for your success as the next business owner. Because your salary is in the hands of no one, just your own, it’s important to not take the idea of being an entrepreneur lightly. The level of responsibility is so high because the rewards you can reap are also just as high. Successful realtors understand that their tireless efforts directly benefit them, and because of it, are very entrepreneurial in how they tackle their work. They know that along with presenting the highest level of client service and constant communication, taking risks is how they will ultimately make a name for themselves.
Many entrepreneurs have very spontaneous qualities to them. Not only do they believe in their idea, but unlike others who may also have a great idea but feel complacent staying in their 9 to 5 desk job because it pays the bills, entrepreneurs literally take their idea and run with it. Smart entrepreneurs, while at times harness sheer spontaneity, start their journey very well knowing that they will have to work at it and it won’t be an instant success… it’s the strong-willed ones who actually make it.
Too many entrepreneurs start a business because they are very energetic individuals that get very excited about their ideas, and after a few months of the business not taking off just as they had dreamed it would, or maybe it just experiencing slower growth than projected, they begin to loose momentum. They stop fueling the business with new ideas and innovative marketing tactics and slowly gravitate towards something else. Being this type of individual will never be of benefit to you in the real estate industry; as a realtor, you must always charge on and simply know that with hard work and thorough preparation, your efforts will pay off.
Over time your chances of being successful will grow if the momentum is constantly present. Always take new risks; being your own boss is all about taking chances and seeing what sticks. Don’t be afraid to change directions mid course; successful entrepreneurs are always willing to take actions based upon the current market and will handle whatever is being thrown their way. As an entrepreneur, being able to adapt to varying situations and scenarios that are not always the most favorable is of the essence, things do not always go as planned or the way you wish for them to. Entrepreneurs do not imagine a perfect world where everything goes right the first time and they encounter no issues, they always have a plan (or two) in their back pocket. They’ve already thought out the obstacles, how they might present themselves, and they’ve already fought those battles in their minds.
The greater the risk, the greater the possible outcome. Having an open mind works in tandem with taking risks. Always be employing new strategies and see what your clients are most responsive to. In your area, targeted Facebook ads may catch buyers’ and sellers’ attention more than postcards and newspaper ads do, or maybe door to door prospecting is one of your best practices. Whatever has been successful for you in the past is worth holding onto, but always remember to research new tactics and apply them, you have nothing to loose. Just like any career, when you are an agent and entrepreneur, your risks might result in unsuccessful outcomes as your plans backfire. The entrepreneurs who are able to learn from their mistakes are always far better off than those who never took the initial risks. They have newfound knowledge and through their striving and perseverance, are the ones who are rewarded and successful down the road.
A crucial part of being a successful entrepreneur, and therefore, agent, is to know that knowledge is power. Know that you can control your success and destiny by how hard you are willing to work and how much motivation drives you. If you don’t naturally harness motivation and the ability to have an open mind and take risks, invest your time in coaching. Whether you’re a new realtor or have been in the business for years, the privilege of having a coach to introduce or reintroduce skills and tactics is extremely valuable. Having someone keep you on track and stay accountable for your goals is essential to your success; the perspective that a coach can give you is important and should be highly valued. In this sense, entrepreneurship can most definitely be taught, and while naturally being a go-getter is great, it is a skill that can be learned, too. Along with working hard, realtors need to step out of their comfort zones and be very comfortable speaking to anyone about anything – you never know when small talk can turn into you getting a new listing. Once you have the correct tools and knowledge, anything is possible and you control your success!
Forbes states, “The highest purpose of intellectual cultivation is to give a man a perfect knowledge and mastery of his own inner self,” which synthesizes everything you need to know about being a successful entrepreneur: the power is within!
The ability to make decisions quickly is also key and works hand in hand with being confident in yourself and your work. For instance, know what to list a property for based upon your preparations and research, and have the confidence to tell the owners that they need to invest in a staging service because it’ll skyrocket the selling price. Successful entrepreneurs are confident in their business model, product and offering from the start and are able to stand behind it as long as they’re in business. Confidence is contagious, when you are confident to sellers that you can easily and quickly sell their property, they will then share your confidence, as well. Be proud of your personal brand and always stay true and consistent to it, it’ll show that what you have to offer is genuine and, ultimately, coveted.
Taking opportunities as they present themselves to you is also a key fundamental attitude in the entrepreneurial realm. Being patient is also significant, good opportunities will not come knocking every hour on the hour, but when they do, know that you are fully capable of taking them on and ultimately benefitting from them. The more dedication and honest work that you put into the business, the more opportunities will arise. Stay motivated above all, confident in yourself and never be afraid to take risks while staying patient. The vast majority of flourishing entrepreneurs never experienced success overnight, they worked for it, pouring hours and hours of effort into their dream. Remembering that you can constantly learn new skills and polish preexisting ones will also keep you on top. Never be satisfied with your skill set or abilities, because there is always someone investing in more training and coaching than you, so invest in yourself, too! Never taking a risk can force you to loose out on the greatest potential outcome…