The Rules of Real Estate
This is a simple title that was created by years of tears.
In the last thirty-five years, I have been mentored by the best or I have mentored the best. Violate the following rules at your own risk! You can think up some reasons why these rules don’t apply, but over time, ignoring them will pay you back in the future. Some agents pay me thousands of dollars to cure problems that probably wouldn’t have occurred had they followed “the rules.”
1. Be careful in implementing rules learned from mentors who are not where you want to be in net worth, happiness, family, fun, and peace. You won’t know – so ask a lot of questions!
2. At a meeting, spend more time learning a client’s motivation than anything else. Unless you can verbally restate what it takes to achieve a client’s clear goals and the clients agree that their goals are in sight, you will have pain.
3. When you are being sold an expensive or time-consuming solution for a small real estate business problem, just say “NO!”
4. Proactive seller lead generation for two hours every day is the only way an individual agent will excel to the head of the class.
5. Most average agents are great in great markets. Only great agents are great in rotten markets.
6. Occupancy prior to close is a mistake you’ll only make once.
7. Huge deposits cure most closing problems.
8. The client remembers the close, not the price.
9. Hey, teams – net is more important than gross. That goes for everyone else, too!
10. CE credits are a government agenda and may not teach you how to sell more, make more, and have happier clients. Don’t choose your training based on CE needs.
11. Spend very little time or money generating buyer leads in any market. Spend it on generating seller leads.
12. Be loyal to one affiliate and ask them to be part of your team with responsibilities.
13. Remember, you are in sales. You can’t help anyone until you understand the client’s needs, offer solutions, ask for their business, and overcome objections – in one sitting!
14. Hanging out with real estate agents in your town will make you little money.
15. Trust a lender to whom you give most of your business.
16. You need to talk to the “right” database twice a year.
17. Technology makes great business systems faster and cheaper. If you are purchasing it for any other reason, understand the cost.
18. All great agents run out of energy. Invest well.
19. You work for free until closing so write contracts that close as quickly as possible with clients who have reasons to close.
20. Having Jesus Christ and the Holy Spirit within you allows you to do many miraculous things!