Your real estate business might be suffering from you staying in your comfort zone. We'll talk about how you can escape from it and why it is important to do so.
So you have a consistent client base and you enjoy selling homes in your particular market, in your particular price range. After all, you've spent literally YEARS building your farm area - growing it and reaping its benefits. That's awesome.
However, your faithful client-base is a great income generator for your business...but, is it a true reflection of your true potential? Personally, I don't want to see agents be limited with thoughts of what they think they can and what they think they can't accomplish in this business.
Everybody has power within them that comes from who you are as a person, who you are as an individual.
The trick is to find that person that you are and amplify that into the world. That's how you are going to absolutely crush it - in whatever business, it doesn't have to be with real estate, it can be anything you want to achieve.
WHY WOULD YOU NEED TO TAKE ON BIGGER LISTINGS?
You feel you have hit plateau. This is a normal feeling of lack of growth, being stuck in a pattern, and you seem to be waiting for something else to happen or tap into something that has great potential.
It's not exactly a bad place to be at, because on it you can look at how far you've come and how much farther you can go.
You can earn a greater amount of money for essentially the same amount of work. Moving your price range up 100% or 200% isn't really going to impact your ability to manage each listing; you will be essentially "front-loading" the work by getting higher-priced clients in the beginning and reaping more benefits in the future.
You SHOULD use every angle to take advantage of this seller's market. Another great thing about 2018 is that we are at the seller's market where there are a lot of cash-happy investors out there yet there are still too little listings so realtors can keep the pricing high.
None of us knows until when it's going to last so you MUST seize every opportunity.
WHAT'S HOLDING YOU BACK?
- "Nobody knows me in that area."
- "That's not my clientele."
- "It's somebody else's client."
- "I don't have sales in the luxury market therefore I'm not gonna try to break into the luxury market or take on bigger listings."
These are the limiting beliefs that you have as a real estate agent that's keeping you from breaking into bigger deals and more success in your business.
It is absolutely natural for you to be afraid of doing something different at first but eventually you have to take on bigger listings to grow as a professional. Fear and growth are both inevitable.
The quickest way to break into an unfamiliar market, is to partner with someone who is already thriving in it. Acknowledge your weaknesses, lack of experience, or whatever and find a top-producing agent who can help take you to the next level.
Be sure to partner up with someone you trust. Get to know their strengths and weaknesses and the strengths of their team.
This is a great way to break into the bigger market because:
As a team, your past sales (smaller deals) become your partner's past sales and VICE VERSA. People are going to equate your name with your partner's brand name that is already established in the market you're trying to break into.
You get to utilize their co-listing team. We have discussed this in our previous article, a lot of these top-producing agents already have their team who can handle the marketing, showing, scheduling, everything that you had to handle by yourself.
Having less manual work will allow you to become more of a liaison to your future clientel and you become much more effecient.
Remember, when you co-list with a top agent, you don't necessarily have to co-list for the rest of your life.
The idea is to sell a few listings with with the top-producing agent. Now, use those past sales as a springboard to break into the bigger market by yourself. It's like a perfect recipe right there. This works out extremely well as there are a lot of agents do this.
Don't let your fear rule your business
Once again, here are the things you need to do do take that leap of faith and break into a new market:
- Co-list. Think about who to partner with.
- Put your plan into action.
- Reach out to clients in the bigger market.
JUMP OUT OF YOUR COMFORT ZONE AND BE UNSTOPPABLE
Always, stay true to your heart. Be your true self and people are going to accept you.
Particularly in the luxury real estate markets, sellers have a keen sense of who is real....and who is trying to be like someone else; ala, fake
So always come from a genuine place (don't be the next Josh Altman, Frederik Eklund, etc) and your career will go much farther than you could have ever imagined.
I hope you take this into heart and use it and crush your market. I wish you guys the very best and I'll see you in the next blog post with another fresh video.
Take care and go some listings!!
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