Workman Success Systems coaches encounter nearly every pitfall a broker, agent, or team leader can experience. Unfortunately, our coaches have seen that new agents are especially susceptible to being dragged down by common problems that real estate professionals face.
These are the top three reasons why new real estate agents can’t succeed in real estate, causing them to leave the business altogether.
1. An Unrealistic ‘Why’
Many agents enter the real estate business with unrealistic expectations. They think that real estate will be an easy way to make a lot of money, or they have a romanticized vision of what it means to be an agent — something resembling an HGTV career.
Agents who get into the real estate business without a clear idea of what it really means are quickly blindsided by reality.
“To become truly successful in this business requires a lot of hard work and a true commitment. You’re probably not going to be able to stick with it unless you have a really good reason, or what I like to call your ‘big why.’”Verl Workman (CEO of Workman Success Systems and Master Coach)
Having a solid ‘why’ helps you gain a realistic approach to your business and pushes you forward when things get tough.
Advice: Not only do you need to have an understanding of why you want to be in the business, but your reasons should be practical as well. Being in the real estate business is not easy, but it is worth it if you have the right reasons. The most successful real estate agents have reasons that go beyond money, so try digging deeper to find why real estate is right for you.
2. Lack of Training
The truth is real estate agents come out of real estate school with only the bare minimum of what it takes to run a successful real estate business. New real estate agents are starving for a higher level of training as they still lack the knowledge of best practices and proven systems. Some agents join brokerages or companies that claim to provide such training, but effective, in-house training is hard to come by.
Advice: Successful agents seek professional development beyond what is provided to become certified. This is necessary to gain in-depth training on the intricacies of the business. The best training is administered by mentors or coaches who specialize in teaching real estate best practices.
3. Lack of Personal Development
For real estate agents, personal and professional development go hand in hand because agents work with people and build relationships. However, many agents fail to realize that their professional success hinges on their awareness and proficiency of personal skills. A lack of personal development makes it hard to manage the relationships that are so crucial to the business.
“Successful real estate agents spend a lot of time investing in themselves, improving their communication and negotiation skills and becoming better listeners.”Tammie Slay (Workman Success Systems Certified Coach)
Advice: Seek professional development that has an element of personal development. Hone in on people skills that will come through in your communication style and ability to relate and interact with others to develop genuine trust between you and your clients.
The good news is that each of these pitfalls is completely avoidable. Workman Success Systems’ training platform provides an excellent curriculum with easy solutions for any obstacle that may get in your way of success. If you’re a new agent on the rise, check out RAMP — one of our four proprietary programs that provide real estate professionals with the necessary training to thrive in the business.
If you’re looking for real estate training as well as an element of mentorship and personal development, Workman Success Systems’ group coaching might be right for you! Schedule a free business consultation to find out how to create a thriving real estate business.