5 Strategies to Sell 60 Homes in 2024 – Strategy #1: Cultivate the Right Real Estate Mindset
I wanted to kick off my 5 Strategies to Sell 60 Homes in 2024 article series by sharing what I think is the single most important part of being successful as a real estate agent: your mindset. It might seem obvious, but actively developing and cultivating the right headspace for your real estate business is something that not all agents carve out time for, but that the most successful ones do on a daily basis.
How you view your overall career, potential opportunities, and day to day tasks has a direct impact on whether you’ll succeed or not. This is true in all sales roles, but is especially true in the real estate industry. Let’s take a look at why.
You Chose a Tough Line of Work
Sales is difficult. And real estate is one of the most difficult types of sales. Whether you’re a real estate listing agent, buyer agent, or both, the attrition rate across the industry is between about 75% and 85% within the first five years. That means that the vast majority of agents quit real estate within five years of starting out.
It’s a world of big ticket sales with a lot of competition and even more rejection. Developing the right real estate mindset is the only way to succeed over the long term. Because there are going to be tough times. Leads are not always going to be quick to come by. And converting those leads is not going to get any easier if you just keep doing what you’ve been doing.
Are You Reaching Your Real Estate Goals?
Let’s take a look at your own business. How effective are you at consistently reaching the real estate goals you set for yourself for 2023? Are you crushing them, on track for the year, or are you way behind? Once you think about that for a moment, I want you to think about your answer and the reason behind it. What’s the number one, biggest factor that prevents you from hitting your goals?
- The market
- No inventory
- Lack of leads
- Insufficient training
- Deals falling apart
- Buyers/sellers sitting on the fence
- It’s my fault
- I’m hitting all my goals, exactly the way I want to hit them
If you are reaching all of your real estate goals and there is absolutely no room for improvement, then hats off to you. That’s amazing and you don’t even need to read on. But if you aren’t, and you listed one of those bullets above as the reason why, then I’ll tell you that, most likely, the true problem goes a little deeper.
Not reaching your goals has less to do with those bullets than it does the reasons behind them or how you react to them. In other words, it has to do with your real estate mindset.
Lack of Leads: A Story of Prospecting
A lack of buyer or seller leads is one of the most persistent problems that agents say hold them back from success. But again, this gets back to whether or not you’ve developed a strong real estate mindset or not. At the end of the day, there are always enough leads out there. There is always enough business to be had. The difference is how you go about finding it, and how you frame those activities in your head.
An example of a poor real estate mindset is looking around at other agents on social media or in your market, seeing all the business they are doing, and becoming discouraged at the fact that you have to prospect endlessly, and they seemingly don’t. There are several things wrong with this line of thinking.
First, comparing yourself to the showcased, idealized version of another agent on social media is never a healthy comparison. You have no idea what is going on behind the scenes, how much work they are putting in, or if they are even actually getting a lot of business.
Second, what other agents are achieving or not achieving does not affect how well you reach your goals at all. They’re your goals, it’s your work, it’s your business. Cultivating the right real estate mindset means getting out of the world of envious self-comparisons and focusing on what can actually move the needle for your own career.
Don’t dwell on the fact that there is a lack of leads. There isn’t. Don’t look at other agents and become discouraged. If you feel like you’re spinning your wheels and not effectively prospecting, then dig deeper into better strategies and methods. Look at what other agents are actually doing, not just their glamorized results on social media.
Your Real Estate Mindset Is All about the Stories You Tell Yourself
“Whether you believe you can or believe you can’t, you’re right.” -Henry Ford
Telling yourself that the reason you’re not hitting your real estate goals is because of a lack of leads, no inventory, or the market in general, is really just a lack of confidence in yourself and your abilities. They are false ideas and perceptions with regards to what it means to do lead generation, make phone calls, and close sales.
If you adopt the idea that there are always enough leads and always enough business, then it becomes more about the method of finding and converting than it does about career life or death. If prospecting, follow up, lead generation, and your calls have positive connotations in your head, then you will be unstoppable. If you have negative stories in your head about these activities and what they mean about you as a sales person, then you won’t be successful.
Being productive, creative, making that next call, and even getting rejected are not things to dread. Cultivating the right real estate mindset means seeing these activities for what they are: stepping stones for producing value for your own life and for your clients. They are getting you closer to the life you want to live. The success you want to have.
Keep Your Eye on the Prize
Rejection and failure are all part of the journey towards achieving your real estate goals. Don’t be afraid of them. See the negative thoughts and comparisons in your head for what they are: FALSE. Work on actively switching your thoughts from envy and discouragement, to curiosity and growth. Don’t dread prospecting or lead generation, find a better way to do them. Focus on improving yourself and always remind yourself that there is enough business out there. There are enough leads. And they can be yours if you stay the course and constantly find better methods.
If you want to develop a strong mindset, learn tried and proven strategies to 5x your lead conversion numbers, and be held accountable to put in the work, then our Conversion University Bootcamp program is for you.