Bed Rock Business...How to Thrive while Travelling the Tide of Shifting Sand!

By
Real Estate Broker Owner with Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate
http://actvra.in/4Cy


Almost 16 years ago, I obtained my real estate Salesperson's license.  So much has changed!  I can still remember buying my first laptop computer.  I couldn't access the Internet and the dial up connection to the real estate MLS system was at best a hit or miss proposition when I connected via a land line. bedrockThe listing agreement back then was two pages of text...today it is six! The leading real estate companies all advertised in the paper.  Hardly anyone had a website. No one had heard about a blog.

But in spite of the dramatic shifts in the business, I think there are are things that will not change regardless of how drastically technological advancements redefine the real estate business.  

As a new agent in the mid 90's, I profited from the wisdom offered by experienced veterans in our industry.  Today, their advise still resonates as true and their longevity in the business is a testament to the validity of their convictions.  Here are some of the lessons I've learned along the way.

The Code...

Have you read through the Code recently? The first core foundation for the real estate professional is the REALTOR Code of Ethics, a standard which defines the rules and practise of professional behavior for real estate practitioners.

The Code of Ethics stands alongside the laws of each State to support the ethical conduct which should define every real estate transaction. Although the Code of Ethics is modified from time to time to encompass new arenas such as the Internet, it remains the bedrock solid foundation which defines the conduct of the well mannered agent.  An agent who thrives on repeat business and the respect of peers & colleagues.

As new agents continue to funnel into the business and more experienced practitioners find themselves working in unfamiliar territory, here are some additional qualities which will continue to provide solid guidance for success. I refer to these as theThree P's of Priority, Perseverance and Patience.

Proper Priorities...

 
Knowing what your priorities should be is the biggest single factor which determines success or failure for many agents. There are only a few things that actually make money for a successful agent. These are: listing or selling a home, prospecting for new business, following up on leads and asking for the appointments necessary build relationships and build our business. Everything else that we do, including attending closings, is a result of the above activities. When we loose sight of this and spend little time on these basic activities, our business is bound to suffer.

Perseverance...

 
Persevering involves keeping on, in spite of, not because of. The old saying 'when the going gets tough, the tough get going' is true. Many agents give up far too quickly. This is where it can be helpful to talk to other successful people or read their books. One will quickly discover that everyone has struggled in one fashion or another. It's a fact of life. Persevering is a pre-requisite for success because it proves that you are willing to do what it takes to get the prize...your goal of a successful career.

Patience...

 

Patience develops character. I'm often amused to hear the term 'overnight' success. To the individual who supposedly achieves this feat, it most often feels like a very long, long, night! We tend to refer to the achievement as an overnight success because we are unfamiliar with the journey that enabled someone to gain the status that they now enjoy. Upon closer examination, it is often revealed to have been a far longer more involved process than a cursory glance would suggest.  

A well known author recently wrote a book entitled Outliers which highlights the fact that it takes almost 10 years to become an expert in anything! Patience is what enables what you are doing to mature to the point where it becomes a fruitful endeavor.

A wise man was once quoted as noting that 'there is nothing new under the sun.' Knowing HOW to do something is as important as having a clear understanding of WHAT one should actually be doing. Success follows from following through and being consistent in the effort required to achieve true competence.

So, regardless of how quickly technology shifts our business, the solid foundations of a business built on Right Priorities, Perseverance and Patience are the tools that a determined professional will need to cultivate in order to thrive and succeed

 

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Greater GRAND RAPIDS, MI Real Estate
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Comments 24 New Comment

Anonymous #20
Anonymous
David DeBruyn GRI CRS

Just yet another great post from you Lola>> Patience>>> indeed is one of the three Ps that is needed by all now

January 30, 2011 04:40 PM
Rainmaker
372,329
Lola Audu
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate

Thank you for your comments.  I am reminded that although this seems like 'basic' stuff, the DOING of the 3 P's is the work of life and requires a great deal of sustained effort and practice on a regular basis.  I find myself talking to a number of people in various walks of life including real estate and these principles are bedrock anchors which are applicable across a wide range of life experience.

January 30, 2011 05:36 PM
Ambassador
470,881
Kate Elim
Realtor 540-226-1964, Selling Homes & Land at LA
Dockside Realty

Hi Lola...I often think of how important patience is in some markets such as mine.  Second-homes and retirement homes do not have to be purchased quickly.  They may be but they do not have to be.  Patience pays in this way also.

Kate

January 30, 2011 09:26 PM
Rainmaker
278,508
Terkel Sørensen
Realtor, 951.805.0773 , Bank owned and Short Sales
Real Estate Places

Great post Lola. 
Malcom Gladwell has written a number of good books, outliers is one of my favorites. 

Knowing the basics is good, beign an expert at them - GREAT!

January 31, 2011 12:29 AM
Rainmaker
372,329
Lola Audu
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate

Thanks for dropping by Eloise!  Hope all is well.  Have a wonderful week. :)

February 21, 2011 04:10 PM
Rainmaker
372,329

Lola Audu

Audu Real Estate~Grand Rapids, MI ~Welcome Home!
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Grand Rapids, Michigan real estate information including houses for sale, rent and home buyer/seller tips. Also includes wisdom and insights from Lola Audu, CRS Associate Broker.

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