10 Things Real Estate Pros Need to Stop Telling Themselves
Words are powerful, and the words you say to yourself can make or break you as a real estate professional. Here are 10 things you need to stop saying immediately.
March 5, 2014
For any of you who either follow me on Facebook or Twitter or have seen me speak at an event, you know that there is one common theme that I often bring up regardless of the topic at hand: The power that words have, not only over other people, but especially over ourselves.
Remember this old line that we bought into for decades? “Sticks and stones can break my bones but words will never hurt me…” Such nonsense. Words have amazing power to hold us back and do much more damage than sticks or stones could ever hope to do.
This is why I wanted to cover 10 things that real estate professionals need to stop saying.
1. When I slow down, I am going to…
How many times have you heard yourself say this? “When I slow down, I’m going to… organize my database, contact all of my top referral clients, finally set up my systems to follow up with leads,” and so on. Stop lying to yourself and commit to what needs to be done in your business; otherwise it will never happen. It’s that simple.
2. My broker is not giving me enough leads.
If your business is relying on your broker’s leads, then you don’t have a business. Broker’s leads are a bonus. Every day that you aren’t doing something to create business on your own is a day that you are coming closer to going out of business.
3. I’ve been getting leads, but they are no good.
So, you’re getting leads that don’t convert and it has nothing to do with your systems or you, right? Nonsense! Any lead that comes to us, by its very definition, means that they have some bit of interest in real estate, even if they don’t buy or sell in the next 30 days. Did you know that 80 percent of all sales happen on the fifth to 12th contact? How many of us even get to that point?
4. I’m just too old to understand technology.
This is one of my personal favorites; it’s something we say as a defense mechanism so that we don’t feel bad about not using something that could make us more efficient. Tools are learned through repetition, which takes effort. We are not too old, too young, or too anything other than maybe a little too lazy — I’m saying this with a smile on my face so you won’t hate me quite as much. As an industry, we have been teched to death, no doubt, but that doesn’t mean technology as a whole is irrelevant. The car replaced the horse and buggy; Google replaced the phone book; and e-signatures and the cloud have taken the place of carbon-copied contracts and fax machines. That’s just the way it is.
5. I can’t afford to hire an assistant, spend money on marketing, hire a coach, and so on.
As long as you continue to look at the cost of such services instead of the value they can bring back, you will continue to tell yourself this lie. Cost is what you pay for something, while value is what you get in return. Even if you started with a virtual assistant who automated your marketing efforts that cost you $300 per month but made you $30,000 in the next 12 months… Was it worth it? One of my coaching students e-mailed me last week and told me how he followed one of our marketing campaigns and picked up five listings in one week. Do you think he was telling himself that he spent too much on coaching at that point? Yes, you may need to be smart about it and start small, but the best businesses invest in themselves in order to get greater returns.
6. I don’t have any appointments today.
You may not have any appointments with potential clients, but if you’re doing it right, then you have an appointment with yourself every single workday. All of our coaching students have to schedule their “hour of power” with themselves every day, which is time to focus solely on activities that have the potential to create future business. It’s their job to keep this appointment whether their business is busy or slow on that day.
7. People don’t want to be “sold.”
Nonsense. People absolutely want to be sold. What they don’t want is to deal with a snake-oil salesperson. But they do want to be convinced that what they are doing is the right decision and can be justified to others. Some people do need to be convinced that they should sell their house for less than they wanted to, or pay more than they wanted to for a house — as long as you know it is the right decision for them in their specific market. That is why they hired you. If you were just going to follow every marching order they gave you without giving any input, then why are they paying you? That’s not value; that’s robbery.
8. That agent stole my client.
To date, I have yet to hear of an agent climbing into a buyer or seller’s house in the middle of the night, tying up your clients, and stealing them. Clients make decisions to be represented by someone else. As long as you are blaming the other agent, you will never focus your energy where it really belongs, which is asking the client why they want to leave in the first place, and what can you do better next time.
9. Buyers are liars.
Buyers aren’t liars. (Remember, words have power.) Are they confused as to what they want sometimes? Yes. Do they make an emotional buying decision at times even when a house doesn’t have the yard that they told you they wanted? Yes. But as long as you keep telling yourself that the very people you are supposed to be representing – and who help to pay your bills – are liars, then there is no way that you can view them in the manner that is required to truly care for their needs and represent their best interests.
10. I lost the listing because I wouldn’t take a lower commission.
It is rare that anyone has ever lost a listing because they wouldn’t take a lower commission. They lost the listing because the client didn’t see enough value in what they were charging. Have you ever seen someone try to negotiate the price of a Mercedes down because they can always go and buy a Pinto for cheaper? Me neither. Because they aren’t on the same value scale. If you are just like everyone else, don’t be surprised if they value you the same as everyone else. If I were to ask you what differentiates you from your competition, you better be able to tell me something other than how honest and hard-working that you are.
I could list 100 more things we have to stop telling ourselves, but you get the point. Nobody talks to you more than you, and it’s time that you start taking that seriously.