HOW DO YOU MEASURE YOUR SUCCESS?...Many Real Estate agents measure it only through their commission checks!!!
We are in a very different profession today--after this recession, tolerance for the abusive agent who thinks they are better than anyone else is GONE! No more room for ill-treatment of agents who work so hard for the sellers; and no more working for sellers who are not happy about paying the agents!
No, this real estate market is like no other! Short-cuts don't work; give-away fees are no longer the way you survive. Good, hard work is what is needed now--A good reputation, a positive attitude and an abundance of local knowledge are the ONLY assets that will pull in business in today's market.
It is a very dangerous thing indeed, for me to look at my real estate business as a success only by the commission checks that I get! I say this because from day one, when I asked my manager how much I could count on making per year, he said: "Don't ever consider your commission as a way to measure your success in this business; if you do that, you will close up shop tomorrow--success is "cumulative" in real estate and if you think otherwise, you will fail!"
So, since that day I have never thought about my commission on a deal--only when I see the check do I count on it. I never calculate a commission before I see a signed contract and then I am careful not to count my chickens! I have seen agents who have become prisoners to the idea of how much money they can rely on making--as a result they have very little flexibility when they are dealing with the public, and the public knows the reason...nothing turns people off more than a real estate agent who is counting their money before they earn it....Both buyers and sellers are tuned into the signs of what they view as a "Money Hungry Agent". Once that client is finished with that agent--they are done!
- I measure my successes by the number of repeat customers I have--no matter if they are renters or buyers or if they are low end or high end--they all get treated the same way.
I measure my successes by how people treat me in the process of a deal...If they are nasty to me, demeaning to me or even resentful of me in any way, I do not pursue them after wards. I try to cut down on the stress of my job by clearing that kind of "clutter" from my life as soon as I reasonably can. I have never had a repeat customer from that group anyway; so why harm myself and my attitude for that kind of treatment?
I measure my successes by how I feel after a deal is done--was it worth my time and effort? Was the client/customer satisfied?
I try to measure my success in real estate by following a very strict set of rules. I make sure that I follow them to a TEE, so that I don't fall into the trap of psychologically trying to make a deal go my way--it is the buyers and the sellers deal--not mine!!!
MY RULES FOR DOING BUSINESS SUCCESSFULLY:
- I Never count on getting a listing or making a sale..let the situation unfold at it's own pace with it's own results---I always thank them for taking the time to talk to me and then I leave it up to the "Forces".
- I remain a neutral party to the deal from the first showing to the closing table.
- I KEEP MY MOUTH SHUT! The only time I talk is when I am giving information to the buyer or seller. Other than that, small talk and personal tid bits only.
- I Never calculate a commission to see "How much am I going to make on this one?" You will only be disappointed when and if it closes. NOT ONLY THAT, IT COULD JINX YOUR DEAL!!!
- I am always available to answer the phone as much as possible.
- I Take a day off a week without exception.
- I find that a happy agent is always with happy clients and customers--that is a "can't miss" for closing a deal and getting more business from that person.
- I never allow a client or a customer to miss-treat me in any way. If they do, I resign immediately--there is only more of the same coming my way if I stay!
I wanted to share these things with all of you because, after this recession, we are in a very different profession. It does pay off to review the things that work and the things that don't so that we can narrow our focus to the important things it takes to be successful.
Can you share what you find is essential to your success in the real estate profession today? What do you do differently now, to build a successful real estate business?
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY. The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
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