Written for new real estate sales agents but not limited to them!

“Try not to become a person of success, but rather try to become a person of value.”

Albert Einstein

Creating value creates success in the business of real estate. Selling houses doesn’t. Creating value for clients requires problem-solving, leadership, facilitation, and negotiation skills. And even though skills may not be enough. Success requires strategy.

1. Accept the idea that you’re not prepared. Most pre-licensing education is designed to establish a good foundation but won’t help you figure out what to do and when to do it. The system is designed for new licensees to “learn as they go” with guidance from the company holding their license. Some agencies have formal programs; some do not. The real estate business does not lend itself to a cookbook approach–one of the things that makes it fun. Be an observer. Ask questions. Read voraciously. Watch Ted Talks and YouTube Videos that aren’t necessarily about real estate. Create your own professional development plan.  
2. Have a long-term outlook. One big mistake new licensees make is becoming obsessed with closing a transaction. The closing should never be more important than the client. If you are dependent on the income at the outset, remember this: Someone wisely said, “Poverty often drives bad decisions.” Think hard about how you’re going to measure success. Write it down. Decide how you will measure that success in both the short term and long term. Commission checks are only one criterion, admittedly crucial for most people. But I can tell you that several of the most satisfying and rewarding experiences I had while practicing were the ones where I didn’t earn a dime.
3. Have a sales mindset but know what you’re selling. Make sure you are clear on what you’re selling. You are not in the business of selling real estate. You are in the business of selling yourself, your expertise as a problem-solver, and your ability to help clients think through their decisions. At one time, a licensee’s value was access to the “Multiple Listing Book.” The only way to find out what was for sale was to contact a licensee. Thanks to technology, that’s no longer true—clients may know more about the property for sale than the licensee. Real estate is no longer an information business at the licensee level. (If it ever really was.) Real estate is a relationship business. I haven’t kept concrete data, but many successful licensees have a background in “helping” professions ranging from bartenders to hairdressers to teachers. 
4. Develop a healthy attitude of “professional pride” that borders on arrogance. It’s more than a truism. “Desperation isn’t pretty.” I saw a licensee’s ad that offered, “Call me anytime–day or night…” and listed half a dozen phone numbers and contact routes. Think about what that licensee is offering as value. Think about what you are offering as your value. Make sure your marketing and advertising reflect what you offer and can deliver.
5. Don’t think being busy is an accomplishment or a measure of success. If you find yourself working non-stop, long hours, consider the possibility that you haven’t appropriately prioritized. When I teach classes attended by students who are already licensed, it is not uncommon to see two extremes. On the one hand, some students are relaxed and attentive. When I announce a break, they continue to reflect on the material, maybe write a few more notes. On the other hand, some students are sneaking worried looks at their phones. They are half out of their chairs when I start announcing a break and usually late returning. I sometimes wonder how they would feel if I acted that way while teaching. Acting busy and rushed sends a message to your clients that they are not important and you don’t have time for them.
6. Create accountability to yourself and your loved ones as well as your clients. Don’t lose sight of the big picture. These seven strategies all overlap and intermesh. Consider having your own policy manual as a way to remember and protect your values—and don’t hesitate to communicate those policies to others in words. I taught for decades before I wrote my philosophy of teaching. I wish I hadn’t waited. I know it changed over those decades, but I also see the common threads that ran through my teaching—the things that haven’t changed. You want to make sure your actions match your words. 
7. Know and act like you’re a business person, an entrepreneur. The real estate business is a bit unique–in a true sense, you, the licensee, are a business within a business (the company/agency). In an ideal model, it’s about mutual success–your success contributes to the agency’s success and vice versa. But don’t give up your responsibility for creating your own value and success. Do give up blame-finding. If you aren’t getting enough leads, why not? If you aren’t managing your cash flow, why not? How are you going to solve those problems? Remember, that’s the business you are in!

I haven’t written much about goals and objectives in this article. Those are tactics—things that enable you to achieve your strategy. They are essential, but they won’t make you successful without some strategies.