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 10 through 15 of the 19 Things They Don’t Teach You in Real Estate School:

   10. Treat It Like a Business. If you do that, it will pay you like a business. As an agent, it’s your duty to carry out your job responsibilities. This job is no different than any other, except you rely on yourself to make money. Each day you wake up unemployed so think about what you’re doing and ask yourself if you would hire you. If you had a boss, would they fire you for doing what you’re doing?

Realize that real estate isn’t something that you get instant gratification on. What you do today will manifest itself in 90 days so think about the activities you’re doing. Will they pay you in the future? Make sure you’re planting seeds and watering them, then follow a consistent routine in order to reap the benefits of your hard work.

   11. Associate with Like-Minded people. It’s no secret that who you do business with matters. You become the average of the top 5 people that you associate with, and they will either swim with you or sink you. One of the quickest ways to get where you want to be is to find someone who’s doing it and shadow them. There is more than enough business for everyone so be mindful of who you’re allowing yourself to be around. Don’t allow people who have no business being there to take up head space. Feed off the energy of others but don’t jeopardize your morals, values, or standards. Stay true to yourself, associate with like-minded people, and don’t give into other temptations.  Do that, and you’ll be well on your way to success.

   12. Master Listing Presentations. Note the word ‘Master’. We’re not talking about practicing or having listing presentations but really mastering them. In order to master listing presentations though, you must dedicate time to perfect your craft. Don’t wait to practice on your clients. 

In real estate, the 3 L’s are Leads, Listings, Leverage (in that order). If you plan on duplicating and/or sizing your business, or simply earning more time back without giving up income, then listings are where it’s at. You can’t effectively work with 15 buyers at any given time, but you can carry 15 listings at any given time. A well-known saying within the industry is “list to last”. That’s because it’s the most leveraged and time efficient way to grow your real estate business so take the time to develop your skill sets.

   13. Master Scripts & Objection Handling. Scripts are simply the language that we use to take people through a process to get what we want when we want it and to make sure it’s a proper fit for them as well. The point of scripts is to provide a roadmap. If you memorize them and the message they are intended to convey, when it comes time to use one, it can come out with your own style and language. Knowing scripts essentially fills your toolkit so that when questions come up, you can answer without hesitation but rather a thoughtful response. Knowing your scripts will add value to you so learn them, internalize them, and then customize them to fit you and your style. The language you use really matters. 

   14. Know Your Local Market. It will separate you from the other 95% in the industry and will position you to be the expert. Knowing your market better than anyone else will instill confidence in people, which will make them more likely to refer someone to you when they need help buying a home. 

How do you do this? Take 30 minutes each day to study MLS. Start with your neighborhood and the surrounding areas and educate yourself on the statistics. You don’t have to learn the entire MLS overnight, but you must start educating yourself. It’s all about competence and arming yourself with the knowledge. Doing so will increase the chances of others using you for their real estate needs. The goal is to be the local economist of choice.

   15. Set Goals and Create a Plan. If you put a pen to paper, it’s like a contract to yourself. And if you’re a person of integrity, you shouldn’t break promises to yourself. As adults, we don’t set goals because we don’t want to set ourselves up for failure, which only keeps us comfortable. Your plan of action and goals are so much bigger than you if you’re willing to accept that, along with the accountability and responsibility associated with them.

And goals aren’t always about money but rather what the money can do for you. Think about how your goals will fund you and your perfect life, then commit to the process. Keep your goals in front of you and revisit them often. Anything worth doing takes time, effort, and work to achieve. A goal not written down is simply a wish, so have fun and be un-realistic and un-reasonable in creating goals! If a goal is important enough to you, you’ll find a way. If not, you’ll only find an excuse. And remember, you’re never too old to set a new goal or to dream a new dream!