Monday, June 10, 2013

Don’t be afraid of being an expert. In this game, you won’t always be great at something, but there will be areas where you truly are an expert. We all excel at one thing or another; however, we run into trouble, and our business suffers, when we’re unwilling to create crutches for the things we struggle with.
I am terrible at paperwork, or anything that has to do with organization. I lose everything! I once got off the school bus with just one shoe. So I’ve attacked my career knowing this about myself. I’ve certainly improved over the years (necessity), but I’ve also allowed for a crutch in this instance: putting great people around me that excel in the areas I don’t. Something I’ve learned in business is that behind almost every truly successful person I’ve had the pleasure of meeting is someone cleaning up the mess and making them look good. Not that they don’t possess the mindset or application to master their own success, but no one’s perfect, and even success starts to pile up and spill over. Next thing you know: you can’t find your shoe!
So, here is a totally new concept—you make your money within the areas you struggle, and not where you’re an expert. Think about it: you’re always going to profit in your “expert” areas (in theory). That money (should) always be there. But if you figure out how to profit off of your weaknesses, the sky’s the limit!
An example: I do a lot of bank-owned properties, which is the mother of all evil when it comes to paperwork. Do I do the paperwork? No way. If I did, I’d be living in a van. It’s simple: if I’m doing paperwork, I’m losing money. So I make the most of my strengths, and work around my weaknesses, until both areas are generating wealth. My lovely, and endlessly patient, assistant handles my paperwork (among other things). I recognize my strengths and my weaknesses, and capitalize in both areas.
But… And there’s a always a “but.”
At some point, you’ve got to figure out certain things for yourself.
Here are some common issues with real estate professionals—and suggestions on how to increase profits:
1. If you don’t like working with buyers, then don’t just proclaim: “I don’t work with buyers.” That’s crazy talk. Figure out how to get others to work with buyers for you. Hire a buyer’s agent, or make a referral agreement in your office with another agent. Don’t just flush the money down the toilet.
2. If you don’t like, or are not comfortable with, listing a house, then get with someone in your office that’s good with listings, and ask them to go on the appointment with you. Strike a deal with them.
3. If you can’t spell, then spell-check everything! (And get a proofreader.)
4. If you don’t like cold calling people, hire someone to do it.
5. If you don’t like networking face to face, then do it on the phone, or email, or text, or Skype, or, well, you get the point. Figure it out—work around it—develop your crutch. In this business, you’ll be as successful as your ability to make adjustments, and not excuses.