“In the real estate business, you learn more about community issues. You learn more about life.
You learn about the impact of the government—probably more than any other profession that I
know of.”-Johnny Isakson
No doubt, an investment in real estate is seen as one of the most lucrative ventures in the
world. However, just because it is considered lucrative and profitable, it does not always mean
that it is right for you. Furthermore, there is no guarantee that you would succeed and flourish in
this particular field. Indeed, taking up a profession in real estate can be incredibly rewarding,
and it is easy to see why so many individuals would consider in trying their hand at real estate.
Apart from the persuasive pecuniary enticement entailed in this profession, individuals are also
given the liberty to work their own hours, have better leverage over their timetables and schedules
plus the income potential is unparalleled. Moreover, working in real estate is an avenue to meet
several people from all walks of life who might be interested in buying or selling properties
which would resultantly expand your social sphere. In just one profession alone, you can reap a
myriad of benefits that would somehow redound to a gainful future if you know just how well to
exploit it. The lure of a money-spinning venture coupled with the promise of prospective clients
would be enough to convince an ordinary individual to dabble in real estate in the form of
hooking up buyers and sellers of their condo in QC or elsewhere.
Unfortunately, their endeavors are not always so successful. But that begs the question: What
makes a real estate agent fail? While most professions have their drawbacks, what is it precisely
that causes one to flop in their endeavors? Well, this list will enumerate just some of the
reasons why.
1.) They do not work hard enough
Success in real estate takes a real commitment to do hard work. To ensure that your prospects
take off from the ground, you need to exercise diligence in your dealings which means you need
to do the hard work. In fact, it has been widely believed that success in real estate can be
achieved through ninety-nine percent hard work and just one percent of sheer luck. From that
assessment alone, you should know that making through it would require your sweat and
tears—occasionally your blood. If you are not ready to commit, perhaps the profession might
not be for you.
2.) They got involved in real estate for the wrong reasons
It might be that the promise of easy money was too tempting to resist and because of this,
individuals have committed their lives to a myriad of real estate endeavors. However, as stated
above, real estate takes hard work, and you certainly cannot expect all of your dealings to
succeed—much less, succeed immediately. It takes patience and a great deal of time before you
are going to see any significant results. If you are involved in real estate precisely because you
just want easy money, then you are guaranteed to fail. Another reason why some individuals
would try their hand at real estate is because of their unique flair for selling properties coupled
with their proclivity for looking at houses. However, know that being a successful real estate
agent would take so much more than just identifying which houses are pretty and which ones
are not. Examine your reasons for wanting to hop into the industry before committing yourself
to it.
3.) They do not save enough money
Real estate agents who are successful in their endeavors know that money is needed to develop
and build their businesses. Regardless of whether it is in the promotion of their careers or in
developing real estate marketing strategies, their endeavors would inevitably cost them. In this
regard, it is imperative that real estate agents who wish to build on their businesses would be
wise as regards their finances insomuch that they would have enough of it to finance their
budding prospects. Some real estate agents would fail because they do not know the projected
expenses entailed in their businesses. Once they realize just how much it would be, they would
find out that they do not have enough money to live on. Apart from building your investments,
now that you would also need money to buy groceries, pay the mortgage, make car payments,
pay bills in a timely manner—all of which you cannot neglect. For this reason, individuals who
are hoping to try their hand at real estate should know the financial obligations it would
connote.
4.) They do not set goals
Knowing what you want to achieve helps you create a daily, monthly and yearly plan. These
plans would then culminate into a realization of your goal which is why it is paramount to have
them. Your plans would help you map out your objectives for the day, month and year and it
enables you to keep track of where you are and steers you towards the direction you need to be
going to accomplish your goals. Operating sans a plan is akin to navigating rough waters without
a map—you are bound to get nowhere. Having a set of goals and a corresponding set of plans
are critical aspects of a successful business. Real estate agents fail either because they operate
without goals or simply because they do not know how to appropriately set goals or create
realistic plans that can be carried out.
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