What we know about real estate is that it always comes down to the fundamentals. The fundamentals always stay the same, but the ‘game’ just speeds up. Here fundamentals 6 through 9 of the 19 Things They Don’t Teach You in Real Estate School:

   6. Your MVVBP (also known as the Mission, Vision, Values, Beliefs, Perspective behind the business). This is Very important. Most agents get in the real estate industry and are only focused on their first deal and when they are going to start making money. But this should come first. When you have clarity on your MVVBP, it gives you power. When you have clarity on your worth, your value, your service to other people, the way you go about speaking to other people is much different. It will take you from being a salesperson to becoming a service provider.

Your business is simply a reflection of who you are. We spend so much time at work so this should be exciting because this is your way of crafting who you are. It will also help you know what to say when people ask you potentially dreadful questions like “Why should we pick you over another agent?” You’ll be able to stand tall on your mission, vision, values, beliefs, and perspective and your confidence in answering will shine through.

Knowing your MVVBP also give you the power to make business decisions because you’ll be able to be able to walk away from certain situations. Your MVVBP will serve as a compass through growth phases by keeping you levelheaded and grounded. There is a lot of temptation for recognition and money through growth and you don’t want to lost sight of who you are. Check in with yourself often to see if the decisions you make are in alignment with your core values and belief systems. 

Afterall, the goal of business is to do business with everyone who believes in what you believe. Knowing your MVVBP will attract the right clients to your world because now you have a crystal-clear picture for what it is you want.

   7. Use Social Media. Social media is the low hanging fruit and you’re missing out if you’re not utilizing it. It’s a great, free way to stay connected with the people in your life and those you care about. Try to keep the posting ratio around a 4 to 1 ratio; 4 posts being personal and 1 post being business. Don’t lean on your database only when you need something – be a friend first. Have normal, human conversations and real estate will naturally come up. But remember that what you post is the image that you’re going to create. You’re in charge of the biggest financial purchase in someone’s life, so make sure the post is going to show people that they can trust you. It’s okay to have fun, but be smart and conscious about the image being put out there.

   8. Be Learning Based and Action Focused. Stay engaged by going to training and implementing what you learn. Real Estate is changing every day and you owe it to yourself to stay current so that you don’t get left behind. Invest in yourself and then test things out in the real world, but don’t become a professional student. There is a difference between learning for learning sake and learning for doing sake and it’s important to know the difference. Be the agent who stays hungry to learn and invests in their personal growth.

   9. Track Your Business. It’s critically important that your business be run through logic. Numbers don’t lie and they also show some truths. Typically, real estate agents are great at making money, but they’re terrible at keeping it. The only know way to know what you keep is by running a tight business. As an agent, track the income in, expenses out and what that leaves you with. 

Here are some important questions to ask yourself: 

1. Are you tracking your business off of a profit and loss statement? 
2. Do you know your conversation ratios? 
3. How many conversations do you need to have before you get a listing appointment?
4. How many appointments have you gone on?

Tracking your business early and often matters. If you track your numbers, the impact that that will have on the legacy of your business will be life changing. At the end of the day, all that matters is what you keep, not your GCI or how many units you’ve sold. But if you’re not tracking your numbers consistently, how will you know if your business is running profitably?