The assumptions you make about what works, and what doesn't, may be flawed. Find out what seemingly contradictory truths lie at the heart of business-building.
Over the years, some of the biggest gains I’ve made in my business were the results of activities often contradictory to common beliefs. This article shares the six most surprising paradoxes I’ve found for success in real estate.
The giving paradox
The giving paradox states that the more you give, the more you will receive. This contradicts the training I received when I first entered this business.
Many trainers during that time taught the acronym ABC (always be closing). The script training of old was seemingly set up to almost trick someone, via language, into feeling pressured to decide and sign on the dotted line.
That is how I operated my business for years, and I sold many houses aggressively. But when I finally began to look for ways to serve and provide value, my business reached levels I never thought possible.
I began to focus on identifying the biggest pain points my ideal clients had and giving them solutions. I began finding neighborhoods that lacked a professional who was providing value to the owners of that neighborhood, and I began giving it to them. When I stopped focusing on the results and started focusing on the value I could provide, my business grew to a level I never dreamed of.
When it comes to your business, look for ways to give and the results you desire will follow.
The growth paradox
The growth paradox states the success you desire will take longer than you anticipate, but once it begins, it will happen faster than you can imagine. Have you ever had those times in your business when you hit a dry spell, but you knew you were doing what it took to have success? Then all of a sudden, out of nowhere, you move from having no listings to having four people who call ready to list their home.
I find this cycle of growth to be true with many agents when they first get into the business or with experienced agents while transitioning their business utilizing new strategies. Why does this happen?
Most agents forget that our business operates on a 60- to 90-day cycle, meaning the work we do today at best shows up in a closing 60 to 90 days from now. This leads to panic for many agents when they don’t see immediate results from their actions.
Trust the process, and know that your hard work and the value you are bringing to the market will be rewarded. It may take longer than you would like, but once it starts coming, it will come quickly.
The problem paradox
The problem paradox states that the more problems you encounter, the more opportunities you will have to show your worth and grow your business. When you find yourself with difficult transactions, remember that by guiding your clients through these difficulties, you can build clients and referral partners for life.
One of the lingering issues for agents now is that when the market was so hot during the pandemic, many agents were nothing more than order-takers. The transactions moved quickly, and that left very little opportunity for agents to show their value or build relationships.
The only way to fix the lagging results of limited relationships is to begin by focusing on the opportunities, the problems, or the difficulties you are faced with today. Now, clients need your negotiation skills to put deals together. Now, clients need a steady hand at the helm to help them navigate the challenging road from contract to close. Now is the time to add value in a way that builds trust and relationships.
Look for ways to solve problems, and your business will grow.
The selling paradox
The selling paradox says the less you try to sell someone, the more they want to buy from you. When people don’t feel pressured to buy it gives them the room they need to calmly consider what is best for them and to freely make the decision to buy.
We’ve all been around salespeople who push us to buy because they want, or in some cases need, the commission. Even when I want to buy, I back away when confronted by this type of salesperson. Buyers and sellers operate the same way. They want to buy, or they wouldn’t be talking to you and viewing homes. The homeowner at the listing appointment you are on wants to sell their home, or they wouldn’t be meeting with you.
Stop pressuring them, provide the information they need to reach a decision, and give them room to do what they want to do, which is to either buy or sell real estate.
The money paradox
The money paradox says you need to spend money to make money. In a business like real estate where income can be seasonal or inconsistent, there is a tendency to be extremely frugal with money when it comes in. The key is to consistently invest in your business through marketing, training, and assistance that helps you scale your business.
The agents with thriving businesses are usually the ones that strategically spend money on direct mail to geographical farms, invest in videography, and spend money on innovative marketing for their listings. Their investment in marketing leads to more business and in turn more income.
Top agents invest in coaching, conferences, and learning. They understand the knowledge and guidance they invest in will lead to business growth. They invest in transaction coordinators, assistants, or social media specialists that help them build their brand.
The problem is that most agents tell themselves they will invest in their business when they get more sales. But investment is a discipline, and most top agents invest in their business early on and even when it is difficult to do so.
Be strategic, but if you want your business to grow in the coming year, invest wisely.
The fear paradox
The fear paradox says the thing you fear the most is probably the very thing you need to do the most. What is it that you fear the most? Are you afraid to shoot videos? Go shoot the videos. Are you afraid to call past clients you’ve lost touch with? Pick up the phone, and reengage. Are you afraid to pull the trigger and invest in coaching? Hire a coach as soon as possible.
Whatever it is that makes you nervous, odds are that is the exact thing you need to do to see the results you’re seeking. Overcome the fear, and take action. The business you desire is available on the other side of your fears.
When you do the things others aren’t willing to do today, you’ll have the life and business others can’t have in the future. Understand most people won’t embrace these paradoxes or realize their value. Be different. Be bold. Be the agent today that your future self will thank you for being.
By Jimmy Burgess
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