Are you looking to join the real estate industry? Perhaps, you are an agent looking to better yourself. Whatever it is, we are here to share some tips on the path to success in the industry through learning from Aaron's 12 years of experience.
Summary:
Many people wish to join the real estate industry, be it as a part-timer or otherwise. The three main challenges of getting success is lack of a network in a tough industry, not keeping up to date with the latest developments in the industry & having limiting beliefs.
Read on to find out how to find success by dealing with these challenges.
Part-time real estate agent
There are many questions regarding how and if someone can make it in the real estate industry working part time. It's not impossible, but seeing as the industry is already tough as it is, working part time just stacks the odds against you. It therefore is very hard to find success working part time in this industry, considering also that it is much easier to quit as a part-timer.
Unless you are someone with a rich network with family and friends considering property transactions on a regular basis, it is hard to close enough deals as a part timer. So, being a part-time real estate agent and finding success is rare.
Common problem for not making it
The real estate industry is one that is ever-changing. Tactics and techniques that have worked previously might not find equal success now or in the future. As an example, in 2009 when Aaron was starting out, there was much less regulation and the Council for Estate Agencies (CEA) was only formed in 2010. Things like dummy ads were par for the course and Aaron even went through periods of using bus advertisements, car park gantries advertising that yielded results. However, such advertising techniques might not be as useful today.
Strategies have changed with the changing demographics, clients today need agents that can provide consultancy advice, with demonstrated knowledge of the industry being a prerequisite before they will engage an agent. Gone are the days where a simple referral or low fees are the keys to picking an agent.
Therefore, agents need to constantly keep up with the needs of the industry and be ready to keep learning, gain knowledge and exposure in order to best serve the interests of clients, in order to find success.
Quick route to success
Often, people look for a surefire method of finding success quickly, or looking for a hard and fast rule to earning more in this industry. This is akin to looking for a shortcut. You might have guessed it by now, there is just no short cut.
Compared to looking for a magical solution that would help an agent close 10 deals once it's found, success in this industry looks more like building a pyramid. This industry values the idea of building. One has to build their own base, learning the fundamentals, building branding and exposure at the same time. Only through consistent efforts and time, would success be possible.
Be heartened though, this industry is one that promises scalable rewards, with ample chances to improve and earn more money in due time.
Limiting Beliefs
There is a common thread amongst many people whom feel stuck or can't find a breakthrough in their careers and business. This is often due to their personal limiting beliefs. Agents with self limiting beliefs often think that a client is difficult to handle or that a deal is 'impossible' to close.
When faced with advice or offers to help, people with limiting beliefs tend to take in only 10% of what is being taught or offered. Growth therefore, is being limited by these individuals. Aaron's personal advice is not to listen to everything that anyone says, of course. Instead, by being more open in beliefs, it's best to experiment and try out what is being shared and deciding after that. Perhaps, the advice can able be used as a reference point for further innovation and growth.
In the end, facts triumph over opinions. So, be ready to do your research, gain more knowledge in order to test these facts through the market.
Conclusion
Many people are interested to join the industry, and it is a good sign. The industry and the work involved is a great place for those who want to take charge of their own career, and be in charge of their own growth and earnings potential.
By being ready to learn, put in the effort to build over time with an open mind, one would find success easier to come by.
Watch Aaron share his own experiences and beliefs on his life as a property agent!