Table of Contents
Here are the top 10 traits why Real Estate Agents fail:
- Trait #1: Lack of Speed
- Trait #2: Inability to Have a Conversation
- Trait #3: The Fear of Saying No
- Trait #4: Inadequate Knowledge of Your Audience
- Trait #5: Lack of Organization
- Trait #6: Being Too Soft
- Trait #7: Not Having the Right Sales Skills
- Trait #8: Poor Time Management
- Trait #9: Resistance to Technology
- Trait #10: Lack of Follow-up
At this point, I’ve either spoken with or helped 1000s of agents across the country trying to help them scale their business through effective and efficient marketing systems and real estate web designs.
And as unbelievable as it may sound, I can usually pinpoint who has what it takes to be success full and who’s not going to last long within the first 30-45 minutes of talking to them.
The reason is the 10 traits below willingness or stubbornness to act on them.
So here are my top 10 traits that lead to failure:
So here are my top 10 traits that lead to failure
Trait #1: Lack of Speed
You see, oddly enough speed has a direct correlation to motivation. Agents that lack the speed to execute usually say things like, “I’ll get to it tomorrow” or “I don’t like the way this looks, it needs to be perfect” or get stuck in analysis and studying but don’t actually act immediately to get left behind.
Trait #2: Inability to Have a Conversation
It’s the reality that real estate is a business based on relationships but most agents are afraid to start a conversation and starting a conversation on the internet is actually easier than doing it in person.
Trait #3: The Fear of Saying No
This is also thought of as being too thirsty, chasing, or desperate.
In an industry where we eat what we kill, it’s easy for an agent to take on any type of opportunity that crosses their plate. The problem with that is you end up with a client that zaps all the energy out of you when you help them which inevitably leads to not being profitable because they take up so much of your time.
Trait #4: Inadequate Knowledge of Your Audience
This is the agent that is completely nose deaf to the fears, frustrations, aspirations, and goals of their ideal client.
They usually end up bombarding their leads or clients with generic market information that is completely irrelevant to them if they don’t live and breathe real estate.
Trait #5: Lack of Organization
These are things like keeping a messy contact list or not having a clearly documented process for all of your activities that are designed to attract new leads, convert them to clients, or deliver on what you said you’ll do for them.
Trait #6: Being Too Soft
This is the inability to handle rejection.
It’s the fact that real estate is a heavy rejection industry and without thick skin, the activities that will lead to the next transaction will usually become sabotaged by their fear to act – because they’re scared of the no.
Trait #7: Not Having the Right Sales Skills
For some reason, most agents on a pathway to failure seem to think that they’re good at sales. When in reality, the transactions they’ve had are likely from referrals or friends or family.
In sales – we call these lie-downs. That’s because there is absolutely no friction required to get these types of clients. The reality is, when you put these agents in front of a stranger and tell them to turn them into a client, they go in ill-prepared and typically fail. And it’s all because they lack the basic knowledge in a sales conversation to know how to handle the conversation for converting a stranger to a client.
Trait #8: Poor Time Management
Agents that have a pathway to failure fail to manage their time effectively. They lackadaisically work on things they need to be working on and then get easily distracted when it gets hard.
Trait #9: Resistance to Technology
This is the idea that knowing digital marketing is the pathway to success nowadays yet they refuse to learn the thing that will get them closer to their goals.
Trait #10: Lack of Follow-up
This is by far the biggest Achilles heel of any agent. How many times have agents said that they could have had an additional 1-2 if not more transactions a year if they just had a better follow-up? They don’t have a solid follow-up system in place, nor do they have any accountability to keep the follow-ups in check.
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Now, here’s how you can correct these negative traits:
Positive trait #1: Act Fast
Don’t think, just do. Agents that win are the agents that move quickly and implement, then analyze the results to see if they worked or not.
Positive trait #2: Start the Conversation
You need to commit to hitting those chat start numbers daily.
Positive trait #3: Know Your Capabilities
Successful agents know their capabilities and are willing to give a peer the business because they’d be better at it. They know that the money they make on the referral will far exceed the amount of money they might make doing it themselves.
Positive trait #4: Know Your Audience
Instead of bombarding their audience with irrelevant market information because you don’t know anything about them, the successful agent will get to know them instead. Ask questions, send out polls, or survey them. Get some intel once you have that intel, talk more about that stuff.
Positive trait #5: Document Their Process
Successful agents have SOPs for all of their tasks and dashboards that track their activities. Then use these dashboards to make better decisions that create more profit.
Positive trait #6: Look at Rejection as a Numbers Game.
Successful agents know that every no eventually leads to a yes so they focus on stacking the No’s quickly to get to their next yes.
Positive trait #7: Get Additional Education
A successful agent invests in getting better at sales. They’ll go in and talk to mentors or coaches, get access to scripts, practice, role play, and more importantly, get the numbers in talking to strangers. That’s because they know that their confidence and skills will grow with the number of calls they take.
Positive trait #8: Time Block
They stick to the time block and work on what’s most important during that time block.
Positive trait #9: Invest in Yourself
Times change and technology changes so the successful agent will spend the time to learn a new thing to be able to teach it to hire someone to help get their desired result.
Positive trait #10: Build Systems for Follow-up
They also have multiple ways to follow up so that they forever have enough trust with their clients and continue to create repeat business.
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Final Thoughts
Being a successful real estate agent requires more than just selling homes. It involves having a unique set of traits and skills that set you apart from the competition. From having a deep understanding of your target audience to embracing technology and effective time management, the 10 traits outlined in this article provide a comprehensive roadmap to success in the real estate industry. By incorporating these traits into your daily practices, you can position yourself for long-term success and become a leading agent in your market.
Looking for more real estate strategies to grow your business? Join our free Square 1 Facebook Group for similar content that can help you in your Real Estate journey. If you are interested in one-on-one coaching, then schedule a strategy session with me today, and let’s talk about how I can help you move your business forward.
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