A career in real estate can be incredibly fun, exciting, financially rewarding, and freeing. However, whether entering the real estate industry as an agent, investor, builder or tech start-up founder, there can be challenges. Real estate can come easy to some, as a proper education can drastically limit risk and increase profit margins. On the other hand, negligence can make this industry one of the most frustrating career paths known to investors. The key is to never give up and and to continue to pursue excellence. So how can real estate pros position themselves to never give up?
Funders and Founders recently released a new info-graphic on ‘How to Never Give Up’ for entrepreneurs. How can real estate entrepreneurs take this information and translate it to their business?
1. Embrace the ‘Dip’
The truly successful investors know that the big wins usually come after a big dip. Most never find out because this is when they quit. Don’t quit. Push ahead. Success it right around the corner.
2. Lower Expectations
This may be extremely unconventional advice to hear in the real estate world. Thinking big is good. However, one recent analyst said that while most entrepreneurs seriously overestimate what they can accomplish in one year, they seriously underestimate what they can achieve in 10 years. According to Funders and Founders, “99.99% of success took time.” Did you know that even Michael Jordan missed over 300 important shots? Aim high, be patient.
3. Recognize Your Strengths
When things don’t go as smoothly or quickly as planned, many individuals doubt themselves. In these times, remember your strengths, wins and unique advantages. Odds are you’ve been through a lot tougher things in the past.
4. Persist & Pivot
It can take a little time for efforts to materialize and snowball in the real estate industry. Keep pushing forward. Don’t shy away from continually tweaking things and trying new things. In fact, try lots of new things and adjustments until you hone in on your goals.
5. Quantity vs. Quality
A recent post on Medium posed that entrepreneurs and start-ups should be focused on quantity instead of quality. The bottom line is that instead of doing less and hoping it is good quality, the more you do the better shot you have at improving quality and success. This applies to making purchase offers, making sales pitches and even online content. Make it good – but do lots more of it.
6. Don’t Compare
If new real estate agencies and investment firms compare themselves to the largest online real estate portals, they will feel discouraged in just about every manner of the word. The same can go for the competitor with the new Lamborghini or larger office. Don’t compare. You don’t know the real story of what it took them to get there. They could be losing tens of millions of dollars a year to prop up appearances.
