Are These Myths Holding You Back?

May 25, 2009

There are many misconceptions real estate professionals have that hold them back from achieving their true potential.  Once we realize these myths for what they are, we free ourselves from our own limiting beliefs and we get onto the road to true success.  Here are two of the most pervasive, damaging myths many real estate sales professionals believe.

“Earning 6 Figures Takes Too Much Time – I Would Lose My Freedom”

Some people believe that success is proportional to time.  Put in a 40 hour work week and you’ll earn $X amount per year.  Put in an 80 hour work week and you’ll earn twice as much as $X per year.  I can tell you there are real estate professionals putting in 40 hours per week and earning $50,000 per year while others are earning $200,000+ per year with the same amount of work each week.

The key is understanding how efficiently you spend your time is the key to making more money with the same amount of time as others.  In my previous article about the 80/20 rule I demonstrated how 20% of our actions deliver 80% of our results.  That means only 1 in 5 things we do is contributing to our success.  Ask yourself what those other 4 things are and do your best to outsource them to someone else, even if it’s someone you hire part time for a few hours a week initially.  Your productivity will start growing in leaps and bounds and you’ll soon enough be able to afford hiring them on a full time basis.  The key thing here is leverage.  When you can leverage other people, systems or resources, you free yourself up to focus on your most important sales activities that generate the most business for you.

“It’s Too Risky – I’ll Lose Money”

Many real estate professionals take this sort of attitude when it comes to investing in their business.  When they don’t know enough about what’s offered, they tend to take a cautious approach: they don’t invest.  Risk is often simply our ignorance of something.  We never say something is risky if we have a full understanding of it.  I have a saying: “If you can’t measure it, you can’t manage it”.  For instance, many real estate professionals make the mistake of having a custom website built and expect lots of traffic to come to it.  When it doesn’t, they take the attitude that internet marketing in general is for the birds.  In reality, if they’d invested money in getting their website search engine optimized, they’d realize they simply didn’t understand the internet and that the internet is actually an incredible marketing medium.

Learn more about getting loads of traffic to your website in my course Building Your Ecommerce Business.  This course has been approved.  This course has been approved by the Registrar, REBBA 2002 to qualify for 6 credits.

Filed under: Marketing Tips,Networking Tips