Chapter 1

So, you’ve decided to become a successful real estate agent. Have you really decided this, or is it something you are just hoping for? The reason I pose this question is to get you to understand a specific mindset. That mindset is one of an entrepreneur.  But I know you may be thinking, “No, I just want to sell real estate and make lots of money. I am not interested in being an entrepreneur.” The truth is, if you do not see yourself as an entrepreneur and approach this business with an entrepreneurial attitude, you are probably setting yourself up for failure. Through my years of coaching and training thousands of real estate professionals I can tell you, agents that do not approach this business as an entrepreneur tend to fail within their first year in real estate.  

So, what is this entrepreneurial spirit, you may ask? It is your ability to approach your real estate career as a business. Think back for a moment to all the reasons you have wanted a real estate career in the first place—to be your own boss, make your own schedule and have no boss telling you what to do. All of this means you are in control, so you need to remember this is your business and treat it as such. And with that thought, understand you are the chief executive officer, chief financial officer, chief marketing officer… and that can be a good thing or a bad thing depending on how you approach it. One of the big keys here is to understand that this is a business, not a job, and your ability to wake up in the morning and do what you need to do to move your business forward is your key to success. 

Looking at some specific areas of the entrepreneurial spirit should help you to understand and build the framework for a successful career. These areas are be mindset, planning and daily activities. 

According to the National Association of Realtors (NAR), 87% of all new agents fail after five years in the industry. I believe the reason for this is that they do not possess the mindset of an entrepreneur to demonstrate best practice to sustain and grow their business. The three areas that I am talking about are Writing down your goal and keeping them in mind, developing self-discipline, ignoring the temptation to procrastinate and working actively to build your business.  

Writing Down Your Goals and Keeping Them in Mind 

There are many people who say they have goals, but very few of them write their goals down. Having your goals written not only gives you a visual but gives you something to refer to frequently—keeping you on track. You should reference your written goals on a daily basis, and they should guide your actions.  

Developing Self-Discipline 

To have self-discipline in your business means that you are in control of your future. Your ability to know what you need to do each day and execute it is a main part of reaching $100,000 your first year in real estate. If you do this consistently you will build a habit to continue earning a six-figure income throughout your real estate career. Self-discipline is your ability to execute your plan on a daily basis despite temptations not to.  

Ways to cultivate self-discipline: 

• Keep you goal in front of you. If you can keep your reason for doing what you know you need to do active in your mind, this can assist you in pushing forward. 
• Remind yourself of what would it be like if you didn’t follow through with your actions. 
• Set up positive routines to keep you on track. As an example, try getting up an hour earlier in the morning and use that time to plan and think about what you want to accomplish in the day.  
• Surround yourself with other high achievers.