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Always Be Learning and Earning

April 17, 2012 | Comments: 0 | Views: 179

Always be Learning is a concept that comes up often especially for new real estate agents or those that might be struggling to make sense of new techniques. The business is changing so fast that the way the consumer buys is morphing almost every quarter and you need to keep up with that pace of change. However, learning can be confusing and it's easy to get lost as you move in many different directions. What you quickly realize is that all your effort and energy is dissipated and you're not EARNING! That's the big problem here- are we really earning enough in the real estate business now or ever?

Therefore agents and brokers must beware the pitfalls of only working to learn and ensure from day 1 that their plan includes very clear objectives that focus on earning! The best way to do that is to set an exact amount of money that you would like to earn as an agent. When setting this earnings goal, it's important to be reasonable. Too many real estate agents, who are barely doing any business, begin planning by saying "I'm going to earn a million dollars" Really? How's that going to happen? Magic?

Start off with reasonable goals based on your level of experience, for example "I would like to net 50 thousand dollars, after brokerage splits and operating expenses", "I would like to make 100 thousand dollars working with an administrator", "I would like to make $500 thousand to a million dollars with a team." Also understand that all goals are scalable and you will build upon each level of earnings achievement by adding leverage with more and better marketing, technology advances and of course additional team members.

Once you have a clear earnings goal, there are three general categories to consider as you pursue the target. Primarily, you must learn what to do. This will include an understanding of the local market and how many sides you must complete at what price and commission range-very basic math. Secondly, you must learn how to do it. What marketing methods will you use to attract your ideal client; what technology tools will you need to compete; when will you need to hire people? Finally, you must ask yourself, did you do it. It's critical to stick to your simple plan and measure your performance against it. How will you ever know if you're on track to your earnings goal without constantly measuring the critical metrics. This is the only true path to self-accountability.

In summary, the critical point missed by most real estate agents is to always be learning and earning together. Clearly by starting with both of these goals in mind, successful real estate agents have a tremendous advantage as they continue to refine a bullet proof plan. The key ingredient for success of course is in the doing. When you become a doer, you learn the tiny distinctions that you will add to your plan to continue moving up the earnings ladder. You will find yourself not falling for the illusive magic pill and ultimately understand that you have what it takes to be a real estate sales success and all you need to do is be A.B.L.E.-Always Be Learning & Earning.

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Source: EzineArticles
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