Tales Of A Serial Entrepreneur - Becoming The Real Estate Agent That You Dream About Becoming

<i>Becoming a real estate agent requires that you approach the profession with strategy, savvy, and an intense-focus on finding THAT real estate niche that will fit you.</i>

Becoming a real estate agent requires that you approach the profession with strategy, savvy, and an intense-focus on finding THAT real estate niche that will fit you.






I've always considered myself an entrepreneur.



I've started my first business when I was only 20 years old and not knowing as much as I thought I knew about the world.

Back then, I had a business partner (my boyfriend, now husband).



It's my hope that presenting you with my story will make becoming a real estate agent easier for you.



We went through the ups and downs together and it was very frustrating because I felt that we were always starting over.

I guess in business, it's inevitable.



Throughout many of our entrepreneurial ventures we had to deal many of the main problems listed below:



  1. We didn't have the capital to start the business;

  2. We were desperate for business (any new customers that called us was a "customer" even non-paying ones and those who took our time unnecessarily);

  3. I was working a full-time and another part-time job while going to college; and

  4. We didn't have anyone who really wanted to support us with guidance without having to pay them.




And much of our struggle had to do with not focusing on those customers that actually valued what we brought to the table.




In fact, our experiences were akin to the predator-prey experiences of the wild.

Predatory customers - who didn't want to pay what we were asking - preyed on our weakness and naivety.

They never really wanted to pay what we were asking, and they could smell our desperation when we accepted really low prices for services.




One such predator-prey service we offered was bulk mailing and sorting.



We ended up being paid a little bit above $8/hour to get the job done for this "customer".

He was a psychotherapist and he was really a bad person.

We treated him professionally, but he was unprofessional and demanded more from us on the same order each time he called.

He almost didn't pay us for the work and probably wouldn't have paid if I didn't play "collector" with him.



I had worked as a "Collection Specialist" so I was not afraid of people who didn't want to pay.



I subsequently started other businesses and some closed sooner than others, but each time, I tried to figure out what went wrong.



From the first year of our business to now, it's been about 11 years.




What I read in business books and what I learned in business classes are only theory.

MBA's get their degrees based on theories, papers, research and class credits.

Lecturers have elevated reputation because of how much they charge.

And I've learned all of this the hard way.




Now, I'm sure you're probably wondering how any of these stories fit into your dream of becoming a real estate agent.



Well..I tell you of these experiences to help make your dreams of becoming a real estate agent a lot less stressful.

You see, I am currently a licensed real estate myself.

And I've learned some strategies that I hope will make your goal of becoming a real estate agent more realizable.



If you are serious about becoming a real estate agent, then you must understand what it is that makes real estate a very difficult profession.



  1. A lot of people want to get licensed so they could "make the big bucks" and not concerned about their clients;

  2. A lot of people are not skilled or trained to work the real estate business properly and making it difficult for those of us in it for the long-term, through good and bad;

  3. A lot of people think that in order to beat the competition is to say bad things about the competition or to lower their prices; and

  4. There are many vendors who try to get real estate agents to purchase useless products or services.




I fell into the category of treating my real estate practice as a business a lawyer or doctor would -- professionally, with continued education, attending trade seminars and meetings and professional correspondence.



But at the same time, I was being managed by brokers who knew less than I did and brokers who didn't know how to manage their own businesses or didn't care as long as we paid our dues on time.



It's a shame.



What's a bigger shame is that some brokers compete with their own agents for business and the brokers don't share their "secrets" in getting new business.

I've heard so much about target markets and establishing my niche, but how could I when I was so new, looked so young and could not afford any marketing materials that people doing this for 20 years could?



After 6 years as a licensed agent, I've learned a lot of things the hard way, including how to spend wisely and how to stay focused and not to believe that any particular tool is essential to my business success.



Hopefully you learn from our struggle by finding real estate customers that actually value what you bring to the table.

I've found that the only essential tool was to rely on my own perseverance and desire to succeed.



When you begin your journey towards becoming a real estate agent, then just know that there will be obstacles.



When facing these obstacles, go through in your mind what visions you had for your business:

  • What you would like your business to be like in 5 years or even 10 years from now.

  • Will you be happy doing what you are doing today?

    • If not, change something and stop losing your health or your money.

    • Oh...and regarding health:

    • I've been pretty fortunate with my health, but along the way, I felt that I disappointed family members if I did not spend enough time with them or make enough money or when I bought a tool or attended a seminar that did nothing to help me but only offer me empty promises.




I am at the stage in my real estate practice where I finally found a way to reach my niche clients, something that no broker had ever known or wanted to show me.



The clients that I've always sought were entrepreneurial, professional and smart with money compared to the "first time buyers" I've worked with.

I had hoped to gain these entrepreneurial minded ones as clients, but always seemed to lose money and time because they always had a relative or a friend of a friend who's "an agent".



What they don't realize is that in order for me to make a living, I had to work over 80 hours per week and still provide excellent service while I was struggling to pay bills.



I've always known what my ideal clients were.

I guess my problem was attached an insecurity I felt due to the fact that I looked young when compared to my much older-looking competitors.

Thus, I allowed this fear of insecurity to keep me away from targeting those clients I really wanted.



I do have more knowledge and experience my past brokers had, now that I realize it.



Now, I am so glad that I am with a brokerage that is offering me support and opportunities to work with my niche clients.



When you begin your journey towards becoming a real estate agent, recognize that your secret to success is getting a system down.



The system that I use right is not yet perfect and it probably won't be until I have my own brokerage.

That will happen in about 5 years.



So now...let me answer my own questions regarding finding THAT niche of customers that I am crazy about:


  • Would I be happy with these types of clients in 5 years?

      Yes

  • In 10 years?

      YES

  • Until I retire?

      YES



Becoming a real estate agent - or any other entrepreneurial pursuit - requires persistence, strategy, and a niche-focus from you.



When you can answer the way I've answered, you are on the right path to fulfilling your own business and professional passions and you are realizing your balance.

  • I work between 60 to 85 hours per week and don't complain about it.

  • The only complaint I have is I am so busy and I have a lot of deadlines to meet.

  • (Which is definitely a good thing in a "down real estate market".)





Interested In Becoming A Real Estate Agent?

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Comments for Tales Of A Serial Entrepreneur - Becoming The Real Estate Agent That You Dream About Becoming

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Aug 07, 2015
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Good post
by: Thurman Wyman

Thanks for your brilliant articles! Your niche site is great!

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