One of the best benefits of being a real estate agent is the freedom and flexibility of working in a dynamic and competitive environment because they can choose to be their own boss.
Real estate agents do not have to be tied down to a 9 to 5 desk job or be confined to the four corners of an office.
However, the work of an agent is not just a walk in the park, nor is it something that can be done by just anybody. An ideal agent needs to possess certain qualities that can make them succeed in their chosen career such as self-discipline, determination, committed, resourceful, good communicator and problem-solver, just to name a few.
It is critical to stress the value of self-discipline in the real estate business, especially if you want to succeed in your real estate career.
One of the main objectives is to make the most of your career to raise profits for the business for a couple of reasons, you do not get a regular stipend or salary and your productivity is based on your closed deals, not the amount of time spent on doing the work.
Here are three key ingredients to raising your real estate profits.
Set your goals and manage your expectations
Get a pen and paper to write down your goals because it will be much clearer to have them noted down than simply put them into your memory.
Regardless if it’s a short or long-term plan having it noted down so you could see your goals will help you visualise your attention on what to focus on and what you need to do in the coming days, months or years.
If you have a lot of goals, start with highly realistic goals and create a plan on how you traverse that journey towards your goal.
Set deadlines and indicate the tools or resources you need to get the work done. Break your time-bound projects into daily or weekly steps so you do not overwhelm yourself with the tasks at hand.
Stick to your schedules
Always remember to stick to your timelines. Avoid the temptation of breaking off from one or two steps thinking it might just be a slight speed bump, but it can actually snowball into something that you may not be able to handle and end up abandoning those milestones and falling short of your goals.
Having a week-on-week checklist can be a great tool to help you stay on schedule and as an added measure, make sure to hold yourself accountable for each and every one of your tasks and goals.
Start removing distractions such as social media from your workstation so you can focus more on doing your work rather than waste time and become unproductive.
Don’t forget to reward yourself once you have completed your tasks and reached milestones so you can be motivated to push on ahead and finish the race in your set time.
Find help and seek feedback
Finding help when you need it is alright because learning and progress is a never-ending process and the only thing constant is change.
In order for you to adapt well, be mindful of keeping yourself updated with industry developments and everything that is related to your career and growth as a real estate agent.
Be proactive in checking out what’s new and when in doubt or question, never fail to seek help or advice.
Another effective way of ensuring your relevance and profitability is to always seek constructive feedback because that is how you will be able to maintain your value and your service to your clients.
Manage your finances
Always be mindful of your spending. Smart financing is critical in the industry because it can make or break your profitability.
Determine your budgets based on the appropriateness of your projected income or revenue for each sale, rather than putting all your money without the assurance of getting a good return.
Take time to figure out your budget plans relative to your projected outcomes for you to avoid overspending because the more you save on costs, the higher the profitability.
Of course, it does not mean you should be penny-pinching on your budget, just be prudent enough to balance it well and within thresholds.