Recently I was analyzing the data for the Real Estate and came across an interesting fact. In majority of the brokerages, the top ten Realtors are doing good business and after that on an average the no of transactions were approx 5. The more surprising fact which I realized even the top 10 Realtors, the average no of transactions were 15-20 at the Max with few exceptions where the no of transactions goes beyond 40-50. But those are very few cases.
Before we go further deep down to it, let me share an interesting fact of life with you. Your level of success is determined by your surroundings. The same person who is a hero when he is among common public, can become zero when he is surrounded by the equivalent or better talent. To elaborate it more, let’s say you are seeking an admission in a university and you choose to go for the institution where the cut out mark for admission is 70% and your score is 80%. You will be considered as a topper there and will get the welcome like a hero. But just imagine what will happen to your heroism, if with the same percentage, you try to get an admission in other university where the cut out marks are 90% or above. Unfortunately you won’t even get an admission there, forget about the warm welcome.
The same happens in life especially in Real Estate. If you are working in a Brokerage where the average no of deals are 5-10 and you are doing 20, you are a top Realtor, as compared to, if you are working in a brokerage where average no. of transactions is 30 or more, by doing 20, you are an average performer. Now the million dollar question comes, then why we choose that brokerage. The simple reason is, our comfort zone. It’s a human nature that we are afraid of developing a high level of competence, as it needs a lot of hard work, sacrifice and of course inconvenience to mind and body. We become so used to that comfort zone that we don’t want to join a competitive atmosphere. The other biggest reason is our surroundings and our friends and family members who always preach us to stay in our comfort zone and become a hindrance from exploring our real potential.
Recently I met with a Realtor at my office, which was making 250K as gross commission and he was one of the top Realtor in his Brokerage. He was so happy and overwhelmed with his success and was boasting about his accolades, awards and trophies which he was getting from his brokerage as one of the top agent. I patiently listened to him for almost 15 minutes and then I shared the average performance of Realtors in Save Max where more than 20 people out of a team of 50 made more than 500 K as gross commission and won a Mercedes car from the brokerage with an exception of few who touched a 7 figure income. The best beauty that majority of these Realtors are an average 3 years of experience in Real Estate. After getting this information, he was feeling that he is not even an average performer as per our standards.
This is all about the atmosphere where you work. If you are working in a non competitive work place, with an average performance, you can become a hero but in a highly competitive place, you really need to be the best to reach on top. But as I mentioned, we love our comfort zone and try to keep giving our logic. The same thing this gentleman was trying to do and giving me logic that he is better off making 250 K as he is working on a low split of 90/10 as compared to 50/50 split of Save Max. I was so surprised with his mindset that without having the right information, he was working on the assumptions of life. When I furthered explained him about his expenses which he was incurring to make that 250K, as compared to expense sharing model of Save Max, where company spend all the money to conduct day to day business operations including staging , advertisements , sign boards and so on. Not only that when I showed the career path which he could never realize in his existing brokerage, finally he understood the no’s and future prospects. I can understand it was not an easy decision for him as work against the taboo in his mind but can assure that his final decision to join Save Max will change his career path in coming 1-2 years.
There are thousands of examples of those Realtors who are stuck up in their mind set and feel satisfied as top performers without realizing they are working in a non competitive brokerage which is the biggest hindrance to explore their potential to the fullest. Also they have to understand that there is no consistency in their performance, even that 250K is fluctuating and every time it’s going up and down. When it’s a good market they will make money and when it’s bad, they won’t. The simple reason that they are not working on a proven system and their success come by chance only. If they are working in a system, their performance will be stable and they will always look towards growth and a stable career in the industry. I have seen many Realtors who reached on top after working hard for 2-3 years and then had no further way to grow as they were lacking the direction and mentor-ship. Now if they don’t have a vision to grow then you can well understand what will happen. They have no choice to be stable or go down on performance. They didn’t work on to build a system for them and their success was totally dependent on their own presence. If they have to go out for vacation, all their business was on hold.
****P.S : Lastly my humble submission to all those Realtors to please stay in their comfort zone and don’t look for the competitive place to work, as it will help us to grow further and will help team Save Max to do more and more business and keep growing . ****
Wish you good luck for your future. You will understand what I said after 3-4 years of success when your career graph will start going down and then it will be too late for you.
If you care, you will share