“Your income and comfort zone are connected. If you want to earn more, you can’t just do the easy stuff.”
– Tom Ferry, #1 Real Estate Coach, NY Times Bestselling Author & Speaker
By Realttorney®
If you are a new real estate broker who recently passed the 2023 Real Estate Licensure Examination last April 16, 2023, you may want to read and bookmark this article. This is an important resource for you. But, before we continue, let me congratulate all 581 Board Passers. God bless you in your journey as a licensed real estate broker in the Philippines.
Real estate is one of the most lucrative industries in the world and for good reason. It truly offers a plethora of opportunities for licensed real estate brokers and accredited salespersons to earn massive amounts of wealth, but only if they have a solid plan in place.
If you are a real estate broker or a salesperson, you know definitely know how challenging and rewarding this profession can be. You have the opportunity to help people find their dream homes, negotiate the best deals, and earn a substantial income. However, you also face a lot of competition, market fluctuations, and client expectations.
As real estate service practitioners, brokers, and salespersons are always looking for ways to improve their business and achieve long-term success. So, how can you stand out from the crowd and achieve lasting success in this industry?
The answer is simple: you need a plan. A plan that will guide you from setting your goals to growing your business. A plan that will help you overcome obstacles, leverage opportunities, and create value for your clients. A plan that will inspire you and motivate you to reach your full potential.
In this article, we will share with you the ultimate real estate prosperity plan that will transform your career and your life. This plan is based on four key pillars: mindset, strategy, action, and results. Each pillar represents a crucial aspect of your journey from goals to growth.
We will explore each of these pillars in more detail and how they can contribute to creating the ultimate real estate prosperity plan that can help real estate brokers and salespersons young and old alike achieve prosperity in the real estate industry.
Mindset: The Foundation of Your Success
The first pillar of your real estate prosperity plan is mindset. Your mindset is the way you think about yourself, your business, and your environment. It determines how you perceive challenges, opportunities, and feedback. It influences how you feel, act, and communicate. It shapes your reality.
A positive mindset is truly essential for achieving success in any field, but especially in real estate. As a real estate broker, you will encounter many situations that will test your confidence, resilience, and optimism. You will face rejection, criticism, and failure. You will deal with difficult clients, demanding markets, and changing regulations. You will have to balance the challenges and circumstances in your personal and professional life.
And often that can be overwhelming. Yet, you must prevail, be persistent and not easily give up. Because successful service providers are those who are able to effectively cope with the challenges life throws at them. They get knocked down by life’s hardships. But, they get up, dust themselves and continue their journey to better themselves every single day.
Also, the great ones are those who turn the hardships in life into learning experiences so that in the future they are able to cope better and faster when confronted with similar situations. They ask “How will I use these lessons to help me grow and improve myself?” The answer lies in your mindset.
A positive mindset will help you: (1) See challenges as opportunities to learn and grow; (2) Focus on solutions rather than problems; (3) Embrace feedback as a way to improve your skills and services; (4) Celebrate your achievements and appreciate your progress; (5) Maintain a high level of motivation and enthusiasm; and (6) Attract positive people and situations into your life.
Here are some tips on how you can develop a positive mindset.
Set clear goals. If you have known this already, we’ll say it once again. Start by setting clear, realistic, and achievable goals for yourself and your business. For real estate brokers, this means determining how much income they want to generate and how many properties they want to sell in a month, quarter, or year.
These goals should be specific, measurable, and time-bound. It is important to be specific when setting these goals because it will help you stay focused and motivated, and will provide a roadmap for success.
Is it really that easy to attain success in real estate? Write down specific, measurable, and time-bound goals? Not at all. After writing down your goals (or typing them in an app or Word document) you need to review them daily. Read them and if you need to re-write or re-calibrate your goals then do so.
The next thing to do is to visualize yourself achieving your goals and feeling happy. This is the fun part. And it involves you being silly and having fun with this process. It is recommended that you visualize your goals using all five of your senses.
Apart from this daily or weekly visualization exercise, it is crucial that you surround yourself with supportive and inspiring people. People who will push you to be the best in your field. But what if my family members are negative and totally against me being a licensed real estate broker. What will I do? If this is the case then we would recommend that you fill your consciousness with positivity by reading books, listening to podcasts, and watching videos that uplift, inspire and educate you to be a better and more productive member of society.
What else can you do to keep your mindset positive despite the negative people around you? Do this. Practice gratitude for what you have and what you have accomplished. Smile. Show humility always. Then, reward yourself for your efforts and achievements.
Strategy: The Blueprint of Your Success
The second pillar of your real estate prosperity plan is strategy. Your strategy is the way you plan and organize your business activities. It determines how you allocate your resources, prioritize your tasks, and measure your performance. It influences how you market yourself, serve your clients, and generate referrals. It shapes your results for you to review on a regular basis.
A smart strategy is vital for achieving success in any field, but especially in real estate. As a broker, you need to have a clear vision of what you want to accomplish, how you want to accomplish it, and why you want to accomplish it. You need to have a roadmap that will guide you from where you are to where you want to be. You need to have a system that will help you optimize your time, money, and energy.
A smart strategy will help you: (1) Define your target market and niche; (2) Identify your unique value proposition and competitive advantage; (3) Develop your personal brand and online presence; (4) Create a marketing plan that attracts and converts leads; (5) Build a loyal client base that trusts and recommends you; (6) Establish a referral network that generates repeat and referral business; (7) Implement a tracking system that monitors your progress and performance; and (8) Adjust your plan as needed based on feedback and results
As a bonus, here is a great tip. Experts said that the most effective marketing strategies for real estate brokers include social media marketing, email marketing, and networking. When you develop your marketing plan it should be focused on generating leads and attracting potential buyers.
Now, hand in hand with a great marketing plan is building a strong network. This is another crucial step for success in the real estate service. Why? Because our industry is built on giving the best service we possibly can to our clients, fellow real estate service practitioner, the government, and the general public.
If you have begun to build your network, here is a pro tip that will help you enhance your efforts even more. Aside from building a network among your peers include other real estate brokers from other service organizations, government officers and employees, and industry professionals such as lawyers, bankers, insurance agents, and financial planners. Having a robust network will make it easier to generate leads, close deals, and access valuable resources.
We end the discussion on the second pillar by answering the question: How can you create a smart strategy? In the grand scheme of things, here are some tips to consider.
First, conduct a SWOT analysis of yourself and your business. If you still don’t know it SWOT means – Strengths, Weaknesses, Opportunities, and Threats. Identify and list for each letter what you have within you and your chosen segment of the market.
Second, research your market and competitors. We would encourage you to learn about the market and your competition by researching their social media presence – websites, and the business model they may have, or to be specific, what type of sales funnel they have set up.
Third, define your ideal client profile and buyer persona. In the words of online marketers, create an avatar of your ultimate client – OFWs, Tsinoy, millennials, Generation Z, etc. Then you can identify different segments of each of the ones mentioned above.
Fourth, create a value proposition statement that summarizes what you do, or how you do it, and/or why you do it better than others. The tagline of Realttorney.com is “Solutions to estate and problem ownerships.” That is what we do.
Fifth, develop a personal website that showcases your skills, services, testimonials, listings, etc. Moreover, use social media platforms such as Facebook, Instagram, LinkedIn, YouTube, and others to promote yourself and engage with prospective clients. And lastly, create valuable content such as blogs, videos, and podcasts and let everybody know that you are a social media Rockstar.
And, it goes without saying that if you use these online applications, then you have embraced technology as a means to your real estate goals. Technology has revolutionized the real estate industry, and real estate brokers who embrace it are more likely to succeed. This includes using virtual tours, digital marketing strategies, and other tools to streamline the buying and selling process. Embracing technology (such as Artificial Intelligence) can also help real estate brokers reach a wider audience and generate more leads.
Action: The Fuel to Your Fire
The third pillar of the prosperity plan for real estate brokers is action. Without action, even the best-laid plans will come to nothing. To achieve long-term success in the real estate industry, it is essential to take consistent action toward your goals.
One effective way to take action is to focus on building professional relationships with your clients. By building trust and providing value to your clients, you can establish yourself as a trusted advisor in the real estate industry. And, how do you build trust? Provide exceptional customer service.
Providing exceptional customer service is another key factor in achieving success in the real estate industry. This means being responsive to client’s needs, providing timely updates, and going above and beyond to ensure their satisfaction. Happy clients are more likely to refer their friends and family to the real estate broker, which can lead to even more business.
Results: Measuring Your Metrics
The fourth and final pillar of the prosperity plan for real estate brokers is results. Results are the ultimate measure of success in the real estate industry. To achieve long-term success, it is important to track your progress and measure your results against your goals. Do this on a quarterly basis at the minimum.
One effective way to track your progress is to focus on your metrics – number of monthly or quarterly sales, gross commission income, number of listing secured, number of satisfied clients, etc. If progress becomes stagnant then calibrate your goals or focus on achieving new goals for your business and professional self. This will help you stay focused and motivated as you work towards your objectives.
You should also be willing to take risks and try new things, as this can help you stay ahead of the competition. By regularly reviewing your progress, you can identify areas where you need to improve and make adjustments to your strategy and improve yourself even.
How do you improve yourself often? Invest in your self-education.
The real estate industry is constantly evolving, which means that real estate brokers must stay up-to-date on the latest trends, laws, and regulations. Investing in continuing education through courses, workshops, and seminars can help real estate brokers stay ahead of the curve and provide the best possible service to their clients.
Finally, in combination with measuring your results, it is equally important for real estate brokers to focus on growth. This means continually expanding your network and investing in new technologies and marketing strategies. By focusing on growth as well, real estate brokers can achieve long-term success in the industry and reach their full potential sooner, rather than later.
As an ending, the prosperity plan is a framework that can help real estate brokers achieve long-term success in the real estate industry. By cultivating a positive mindset, developing a well-thought-out strategy, taking consistent action, and measuring your results, you can achieve your goals and build a thriving real estate business.
And, remember, the ultimate real estate prosperity plan involves setting clear goals, developing a marketing plan, building a strong network, providing exceptional customer service, investing in continuing education, embracing technology, and focusing on growth, among others. By following these strategies, real estate brokers young and old alike can achieve their financial goals and achieve long-term success in the industry.
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Atty. Jojo is a real estate attorney, an estate planning attorney, a licensed real estate broker, and a PRC-accredited Lecturer/ Speaker for Training Programs in Real Estate. He is a Chartered Trust and Estate Planning (CTEP®) professional who is committed to educating Filipinos about the value and importance of having an estate plan in their lives.
Realttorney® 