Most people are not born with the skills it takes to dominate as a real estate agent (which is just another word for entrepreneur in the real estate industry). The high level of confidence and instinct needed is rare. Most of us have to build our confidence and killer business instincts over time, and eventually develop the real life skills it takes to survive in this business much less be a Top Producer.
The biggest mistake I see agents making in the current market is that they know what to do, but are overthinking the situation and hold their self back from taking the sufficient amount of action needed to produce the kind of volume they need in order to succeed. It’s crazy to think that the problem is yourself. Not the market. Not your area. Not your education. Any agent who follows me knows what to do to succeed in real estate. Knowing what to do is not the problem for most of you. If so, reach out to me. I will be glad to do a free coaching call or answer an email.
The bottom line is that the general fundamentals of real estate is not hard whatsoever. Contact prospective buyers and sellers in your market, ask for business and secure relationships for future business and referrals. Boom! It really is simple if you have the right mindset and systems in place. What makes this so hard is two things. Being consistent forever, and overthinking (or making excuses). Lets face it. Overthinking is just another form of an excuse.
Three Forms of Overthinking
- Spending too much time striving for perfection
- Worried about being asked a question you are unprepared for
- Fear of rejection
There are many different ways to overthink your actions. Some agents spend so much time trying to get everything perfect before they take the high power, money-making actions, that they never make it to the action part. In other words, they spend all their time “getting ready” to take action, and leave no time to actually complete the process and follow through. Then, at the end of the day, they make the excuse to theirself that, “Its okay that I didn’t get the money making activities done because I was doing other things that need to be done.” The problem is that those other things DO NOT have to be done. This is things like researching the neighborhood before making cold calls, or learning how to write a contract before even talking to the first buyer. Sure, read a blank purchase agreement your first day in the business if you want, but that should take 30 minutes or less. I know agents that spend weeks mastering the paperwork before even making the first attempt to contact a prospect. Listen, there is no need to know how to write a contract if you have zero clients to sign one.
So, one form of overthinking is spending too much time trying to make everything so perfect. Another form is being worried about being asked a question you are unprepared for. Like, “Where did you get my phone number?” Or, “Didn’t you know my house is already listed?” Or, “What are the recent sales in my neighborhood?” These type of questions can stop a newer agent in a heartbeat. And, I understand. If you don’t know, you don’t know. But, that is what I am here for. To calm you of these worries and let you know that they are not near as big of a deal as you think. Here is the deal. Regardless of how well you prepare for any and all situations, you will always run into awkward moments in which you get asked a question that catches you off guard. There is no way around this. Therefore, if you can’t “prepare” your way out of these off-guard situations, why spend much time on it? The trick is when you find yourself in one of these situations, do two things. One, do not make it a big deal, or focal point of the conversation. And two, learn how to slide right past them by either answering the question fast, (but calm and moving on quickly), or (if you do not know the answer) tell them, “I am not sure, but let me research that and call you right back.” Like I said, you will always be thrown into these kind of moments. Get used to them and learn to brush them off.
The greatest form of overthinking is developing a huge fear of rejection. A fear so huge that it paralyses you from competing (or even starting) your most productive activities. Now, I can go on and on about overcoming fears and the necessity of fear in the process of success. But, the one thing I can say is that the fear you are creating in your mind is not even real. Think about it. You are creating the fear about the result of an action long before the action even takes place. If you are doing this and believe what you are thinking, then that means you are telling me you are a fortune teller who can see the future, and we need to go to Vegas together so you can tell me what sports teams to bet on. You ready? The fact is that no one can see the future. So, it blows my mind when you allow yourself to believe that you can do so. Are you hearing what I am saying? You are creating an opinion about the result of something that hasn’t even happened yet. How do you know it will end that way? Or, are you just afraid of the chance that it will not go your way. Either way, taking action is always worth the risk. If you win, you win. And, if you lose, you still win because you learn something and get future time back that you don’t have to spend on that prospect or deal anymore. Take that new knowledge and future time and go find five more deals. Everything is a win/win if you look at it with the right mindset. And, if everything is a win/win, then what are you waiting on…TAKE MASSIVE ACTION NOW.