I’ve been in the real estate business for 39 years, and over time I’ve learned real estate professionals succeed when they master 3 basic principles.  If you learn and regularly practice these 3 principles, you’ll eventually master them and thereafter enjoy great success in your career.  I call these 3 steps the 3 P’s of real estate success.  They are people, product, and programs.

People

All real estate sales professions are people oriented businesses, but real estate is especially a people business.  So your success is totally based on how well you deal with people and build your clientele.  Speed and consistency are key here.  Virtually all the real estate top producers in your office focus on being listing agents and they all have massive numbers of prospects and clients they regularly communicate with.  They’ve made a habit of seizing every opportunity for adding prospects to their database.

So for professionals new to the business, it’s especially important to build your database like the top producers do.  Get the contact information (especially the email address) of as many people as you can.  Top producers do this on a daily basis, and so should you.  The first program you should launch on your PC in the morning is your contact manager.  Having it always open will help remind you to add people’s contact info quickly whenever the opportunity arises.

Product

Product knowledge is critical for your success.  That product is homes, so part of your daily routine should include viewing 2-3 homes minimum per day.  It will help you in so many ways, especially if you’re a rookie.  Having extensive knowledge of the homes in your farm area prepares you for expertly handling inquiries from prospects.  Your expertise builds a prospect’s faith in you and helps you get more appointments and new business.

Programs

A real estate professional’s job is really just three things:

1.    Finding The Right Client
2.    Finding The Right Home
3.    Finding The Right Mortgage

Programs are being current on the latest financing information available for helping clients secure the financing they need for the home they want.  You should have a team of experts available for helping you and your clients throughout the buying or selling process.  These should include

-    Mortgage Brokers (More Than One)
-    Real Estate Lawyers
-    Home Inspectors
-    Home Warranty Agents
-    Home Insurance Agents
-    Credit Advisors
-    Appraisers
-    Title Insurance
-    Technology Expert

I teach more about the 3 p’s (people, product, programs) in my course Excelling In The Real Estate Profession.  This course was been approved by the Registrar, REBBA 2002 to qualify for 9 Credits. The Online version is available here