1. Not willing to work hard enough.
From webinar comment: "This sounds more and more difficult than I thought and more work than expected!"
2. Not willing to face fear.
Greatest fear is the fear of the unknown.
So they give up way to easily.
3. Lack of effective guidance.
Try to figure it out on their own.
(looking for cheapest way...no real mentorship or coaching.
Ask other agents just as lost as they are.
And worst is they look for guidance from social media and youtube.
HOW TO GUARANTEE SUCCESS:
I got lucky…looking for #1 office and I had no Plan B.
Invest in the best coach.
Work your butt of to become the best.
Determine to succeed no matter what.
Face fear of unknown…get comfortable being uncomfortable.
One of the things that bothers me the most is the number of new real estate agents that get in the business and then they fail. And the reason it bothers me is because it's totally avoidable.
Today I wanna talk about why most new agents fail. Why does that happen? Is it the market? Is it the times? Is it technology? What is it that makes most real estate agents fail? It boils down to three primary reasons that real estate agents fail. I wanna go over those, and then we're gonna talk about how can you, as a brand new agent, guarantee your success?
1) They’re not willing to work hard enough
Number one, agents fail because they're not willing to work hard enough. And I say that because I'm looking here at a comment that I got from an agent on a training I was doing recently. And I was training on how to succeed in real estate, and this was the comment that they posted in the chat bar. They said, "This," and this was probably about an hour into the training and they said, "This sounds more and more difficult than I thought and way more work than expected!"
So you're starting a new business. As a real estate agent you are an independent contractor, which means you are self-employed, which means your you're own boss, which means it's your business, which basically means you are an entrepreneur. You have the opportunity in America, or wherever you're watching this, you have the opportunity to build a business that can make unlimited income. They sky is the limit. And you're upset because you're gonna have to work too hard?
If you're not willing to work hard enough to make it in real estate, go get a real job because you only have to work and do exactly what they tell you, and you can get by with as little hard work as possible. But look, if you want success, and real estate is a business mentality career. It is not an employee career where it's like, "Oh, do I really have to do all that? It's gonna be hard." Yes, my friends, if you wanna achieve greatness, if you wanna achieve success, you're gonna have to do some things that are hard, and you're gonna have to work hard. I know we wish we could have it easy all the way beyond growing up. But if you wanna be successful, you're gonna have to work hard.
Agents try it, but they're not willing to put into the required amount of effort. Maybe there was a misconception. Maybe you thought it was gonna be harder. Maybe you thought it was gonna be easy. I like houses. I like people. I'm just gonna get to drive around and show people houses and make money, and you found out when got into real estate, no, you actually have to build a business. You actually have to generate business. You gotta find clients. And they're like, "Well, I didn't think I was gonna have to do that. I thought I was just gonna show houses and write offers," and I wish it was that easy but it is actually a job. It's actually a business. It actually requires effort. But it happens.
Second reason that real estate agents, why most new agents fail is because of fear. And here's what's crazy. What do you think is the greatest fear that stops real estate agents? And most people would say, "Well, it's the fear of rejection," or the fear of failure, and I will grant those two are pretty powerful. They were powerful for me. The fear of rejection was power that was horrible for me. I hated the idea of rejection. However, I don't think it's the biggest fear that stops real estate agents. And here's what I think it really is. It is the fear of the unknown. It's that, "I don't know. What if this doesn't work? What if somebody gets mad at me? What if I fail? What if I make a mistake," what if, what if, what if? And it's that fear that we've never been here before. And so, because of that we have this lack of confidence.
And so, real estate agents get into it, and all of sudden they're like, "I don't know what I'm doing. I got my license. I thought I would know what I was doing, and I got my license and I don't know what I'm doing," and we have to step out of our comfort zone, and it's too uncomfortable, and so it's too easy for agents to quit. It's easy to get into real estate, and so it's easy to get out. And so, they give up too easily because they get afraid and they're like, "I don't know what to do," and they don't know, and so they let the fear of the unknown stop them.
3) Lack of Effective Guidance
And then the third thing that I think causes new agents, who are willing to work hard, who are willing to go at it and face their fears, and they're willing to do whatever it takes to do it, is lack of effective guidance. Agents get the wrong advice, or they don't get enough advice, and they don't get the right guidance. And so, they try, and they try, and they try and it just doesn't work. And they think it's them, or they think it's the market, or they think it's the times or the technology, and they're like, "It doesn't work." And so, they quit.
And I think there's several mistakes that you make as a brand new agent. So here's some of the mistakes you can make and I want you to avoid, in terms of getting effective guidance. Number one, I think agents try to figure it out on their own. We all have our ego, and we wanna look good, and we wanna do that, and so we're like, "I got this. I got my license. I can do this," and we like, "I got the internet. I got social media. I got YouTube. I can figure this out," and we tried it. We're almost like the for-sale-by-owner of realtors. And that is, what's a for-sale-by-owner, they're somebody who thinks they can do it on their own. They don't need help. Well, and you got your license and that's how you approach it, "I don't need help. I can figure this out on my own," and you try to reinvent the wheel, and it works. I can work, but it's gonna take a lot longer and you're probably gonna get a lot more bloody noses and waste a lot more dollars and a lot more hours and months trying to figure it out on your own.
Another thing that they do is they trust that because they're in an office that has a lot of training, or the broker says they're gonna help them, they think that that is gonna be effective guidance for them. In some cases it is, but a lot of cases it's not. And they find out once they get in that the broker's too busy for them, or they actually don't sell houses anymore and they don't know what's up, or maybe they do sell houses and you're actually competing against them, or you ask your fellow new agents, or other agents in the office who's just willing to give you some advice, and that agent probably doesn't have the success that you want, and what worked for them may not work for you, and so you don't get the effective guidance that you need. O you get a bad coach, or a bad mentor that tells you things that are not really productive, and not really powerful and that takes down a bad road as well.
And I think, for me, I was kind of lucky. So how do you guarantee your success as an new agent so that you don't fail like most agents? Just think about it this way, if 80% to 90% of all realtors fail, within two years 80 plus realtors are out, if that's the case and you wanna succeed what do I gotta do different? And that's the answer, I gotta do something different. So if you see all the agents going this way, and you know that 80% of them are gonna go off the cliff, then you probably wanna look at one of the 20% doing that are going this way. That's the first thing, is to think, "I don't wanna follow the masses." If the masses of new agents are failing, they're being told, "I don't wanna do that.
I gotta think, "Whatever they're doing that causing them to fail, I gotta do something different." And I think, for me, I was kind of lucky. So I'm gonna say say, how to succeed, I'm gonna tell you how I succeed. And luck hard part to do with this, but I had it ... I got this in my mind that I wanted to find the number one office in the market, because it seemed to me like if you wanted to go where agents succeed, the number one office that had the best agents that sold more homes than anyone else, that would probably mean that they do something that helps people succeed. Something like ... So that's what I did, and I went and found the number one real estate agent in my market and that's where I joined.
Now, in doing that, in making that decision, I didn't know that the reason that they were successful is because they had some of the best training anywhere. And it had an office where at every different level you had a mentor, and you had a coach, a manager that trained you until you reached another production level, then you got a new coach or new manager in the office. And they were very intentional about training and mentorship. And so, I got real lucky, and that is I had good guidance. If you wanna succeed in real estate, get good guidance. Get the best coach, the best mentor you can find.
And don't think that because you got technology now that I can go on social media, and this is one of the big mistakes, is they go into social media and they find a real estate group and in there, they go like, "I'm new, any tips?" And now you got 150 tips from mediocre agents who maybe have been in for a year or less. Some of them been in for more. And some of them are great tips. I'm not saying they're bad tips, but you think that because you get that you got guidance, that that's gonna help you do that.
Look, I love that fact that if you're watching this as a video you're watching it on YouTube and you got it for free. And you're like, "See, I got good coaching. I get free training on YouTube." Look, here's what I would suggest about YouTube training, and there's some great free videos on YouTube, and if you are just now new to my channel make sure you subscribe to the channel and watch all my videos you can, because it's the best training that's out there, but it's not enough. What it does for you, and what you can do with great videos and stuff on YouTube, they'll help you and they'll give you a lot of guidance, I think the best thing to use it for is to help find the right coach for you, somebody that resonate with, somebody that you connect with, that they know what they're talking about and that you like the way they approach success.
So get the best coach, the best mentor you can. If you wanna be successful, invest in yourself, invest in your success, invest in your training and that's what I did. By the way, the company I went to had the worst splits of any company around. I was on a 50/50 split, plus on my first three deals I had to split my 50% with my mentor, so I was literally on a 25/75 split on my first three deals where I got 25%, and that was before the franchise took off their big chunk off the top. So it was like, horrible split. But it was the right training, and I had the right mentorship.
And the second thing I think really helped me was I was desperate. I jumped into real estate full-time. I had no savings. I had no plan B, and because of that I was absolutely committed to do whatever it took, and I was willing to work hard. I was willing to face my fears and jump out of my comfort zone and just, in a sense, I had to get comfortable being uncomfortable.
If you're watching this and you're a new agent, do you realize that we have been here, as I'm recording this in 2019, we have been in one of the best real estate markets. It's been an up-market for the last five, six, seven, eight years. There's been an incredible good market, and there's still 70% to 80% of real estate agents are failing at it. Imagine what happens, it's starting to happen right now, the market starts to turn down, it's gonna get tougher. So you've gotta have an absolute determination, "I will do whatever it takes to succeed. I'm willing to work hard. I'm willing to step out of my comfort zone and I'm gonna find the best coaching and training that I can, so that it will guarantee my success." Because here's what I can tell you right now, if you are willing to learn, invest in yourself, and you're willing to do the work, and you're willing to face your fears and step out of your comfort zone, you can succeed in real estate, period.
Now, if you're interested in more about what I can do to help you succeed in real estate as a new agent, I wanna invite you to go to AgentPowerLaunch.com. AgentPowerLaunch.com is training that I have for brand new agents. You can download a free real estate success blueprint, some other great stuff there, and also then just an introductory training that I have for brand new real estate agents called Agent Power Launch that will help you power launch your business on a path to guaranteed success because you can do it. You got into this for a reason, and I know you didn't get into real estate to fail. So do whatever it takes to succeed.
If the video's been helpful for you, make sure that you give it a thumbs up. If you haven't subscribed to my channel yet, subscribe to it for more great training. And also, what questions do you have? What are the things you're struggling with and post those down in the comments. They'll help me. And one, I'll answer some of those questions, but it'll also help me decide what are the next videos that I'm gonna shoot to help you on your path to success.