Ten Common Characteristics Of Successful Real Estate Professionals

There is a TV show on CNBC called “The Big Idea” hosted by Donny Deutsch, a Madison Avenue marketing genius and a self-made millionaire. From time to time, Donny invites well known successful people from many walks of life to talk about how they achieved their lot in life. One night Donny Deutsch asked special guest Donald Trump about his views on the secrets to success in business.

To my surprise, Trump replied that not everyone can be successful in business, and some people just have to accept that. What? What do you mean not everyone can be successful? Trump was making a powerful statement and he had my attention. He went on to say that we (business leaders, managers, authors, speakers, coaches, and so forth) have done a disservice to the American businessperson. We have led people to believe that anyone can be successful in business. Anyone.

It’s simply not true, Trump explained. Not everyone can be successful. No matter how hard you work or how long you stick it out, some will simply be marginal, average at what they do, or won’t make it. Success in business takes more than attitude, passion and nose-to-the-grindstone work. The formula for success is more complex than that.

THERE IS A FORMULA

Trump is right. Success in business is reserved for a special group of individuals who are willing to do more and give more so that they can get more. It’s a fact of life, and it is a fact about real estate salespeople as well. So why do some real estate salespeople rise to the top while others sink to the bottom or bob somewhere inbetween? Success isn’t simple.

There is far more than one thing it takes to be highly successful in this business. Success is a formula, a recipe. It’s complex. If it were not, everyone would be successful and there would be no such thing as a “top performer.”

COMMON CHARACTERISTICS

Let me identify ten common characteristics of successful salespeople in the real estate business. Spend a day or a week with a top producer and you’ll see these traits and characteristics evident. Spend some time with an agent doing poorly or struggling, and you will see the same things lacking.

1.) Top performers are in it for the long run. Unlike other real estate salespeople who are trying the business on for size and waiting to see if it fits, or are using their current occupation as a job gap until they find something else, top performers are committed to their career in real estate until retirement. This longterm focus and obligation means they will invest more in their careers every day than others are willing to invest. That’s why they succeed at the level that they do. They are in it for life.

2.) Top performers take risks. They are willing to try new things, experiment, change habits and go after big targets. Although they may fail at these endeavors as much as anyone else, because they are continually taking risks and trying new things, they succeed more as well. This risk-taking mindset moves their business forward and creates listings and sales others will never have. That’s why you’ll see top performers run ads and sponsor events. That’s why you’ll see top performers working with the best clients and properties in town. They take the risk, they go after the big opportunities, and that’s how they get them.

3.) Top performers invest in their businesses. Top performers are okay with spending some of their own money to do things. They purchase gifts for their clients and partners. They buy books and training CDs to learn new things. They pay to attend seminars and subscribe to industry magazines and Internet services. They spend thousands of dollars each year to market to their lead sources and databases. This is their business, and they know that they must spend a little money to make a lot more.

4.) Top performers align with top clients. They know it is hard, if not impossible, to become a success in this business if you don’t work with successful people. That’s why they are picky about the clients and partners they align with. They want to be the best; and to be the best, you have to have the best vendors and customers. Many real estate agents are content to work with just about anybody that will talk to them. They saddle themselves with lesser caliber, low quality prospects and partners. In the business of selling, your clients and partners are your business. Top performers get that. It’s a people business, and to be the best you must work with the best people.

5.) Top performers have systems that work. How do top producers generate so much business? It’s because they have built ironclad systems, procedures and checkpoints that can run a high volume of sales and listings through the process with amazing accuracy. They have client management systems, follow up systems, status review systems, marketing systems and systems to measure and track their leads, loans and sources of referrals.

6.) Top performers are stingy with their time. They know that their time is worth money; a lot of money! Top performers are particular about what they do with their time every day and invest the bulk of their time in activities and clients that are likely to have the highest payoff. They delegate. They stay busy. They get stuff done. Many average performers who aspire to be top performers will never reach the level of success they want because of their inability or unwillingness to manage their time properly. They spend too much time with marginal opportunities, too much time doing administrative tasks, and too much time hanging around the office waiting for the phone to ring or for something good to just “happen.”

7.) Top performers are in control. Unlike some real estate salespeople that let others tell them what to do, where to be and how to behave, top performers are their own masters. They make the call. They decide their schedule and agenda for the day. They choose whom to work with and how. This level of focus and personal control not only makes them extremely productive, it also sends the signal to others that they are confident professionals in control of their businesses and their lives. Watch a top performer move through her day. No jumping around, no emergency fire-fighting, no flying off the handle. She’s in control. She has a plan for the day, it is written down, and it is followed. Period.

8.) Top performers know their profession. Because they are willing to invest time in learning new things, reading industry periodicals, reviewing market changes and sharing ideas with others, top performing real estate salespeople build a knowledge base that allows them to sell from a level of expertise few others have. They know their market, what’s happening in the industry and what economic changes are coming down the road. Clients see this advantage, and gravitate toward working with these people because they trust their knowledge and confidence to help them find the right solutions to their needs.

9.) Top performers like to sell. While many real estate salespeople shy away from various sales activities, top performers actually enjoy selling. They enjoy the client conversations, conducting home-buyer seminars, delivering listing presentations and meeting new prospects. They don’t like sitting in meetings or spending a lot of time on conference calls. They do not enjoy hanging around the office talking about sports, movies or somebody’s kid’s problems. Frankly, they’d rather be out meeting people, making contacts and writing contracts. That’s what they enjoy because that is what they do best. When you spend a lot of time doing what you like to be doing, and getting paid well for it, it ceases to become “work.”

10.) Top performers are “can-do” people. Some real estate salespeople are making excuses instead of making results. They have all sorts of reasons why something can’t be done. “I can’t sell that house because the price is too high,” they say. “I can’t get to work on time because of the traffic. I can’t make more sales calls because I have e-mails to read.” This is how can’t do people work. Top performers, by contrast, are can-do people. This is reflected in their initiative, their approach to problem solving and their openness to new ideas. They look for ways to make things happen, not excuses why things aren’t happening. This allows them to change, grow, adapt and out-perform the competition and their peers month after month and year after year.

IN SUMMARY

We need to dispel the myths about selling that exist today. We must realize that success is special — a special thing for special people willing to do more and give more in order to get more of what they want. Perhaps, as Donald Trump says, not everyone can be successful in business. But that means that some can be successful — incredibly successful. Maybe that includes you. Maybe you are at a place in your life and career where you are fed up with “average” performance. Perhaps you are ready to push past complacency and are prepared to step up to the opportunity to become a top performer.