Preview Mode Links will not work in preview mode

The Real Estate Sales Podcast

Nov 28, 2023

Do you pay attention to other's mistakes? If not, you may want to start.

Learning from other agents can be the one thing that saves you from making mistakes within your real estate business. In this episode of the TRES podcast, host Jimmy Burgess delves into the critical factors that can make or break a real estate agent's business. 

Drawing from the experiences and observations of a top-producing agent, he explores the common mistakes that can potentially hinder the success of real estate professionals. The actionable insights in this episode aim to guide agents in making strategic shifts to propel their businesses toward growth and sustained success.

Avoid Waiting and Take Action

  • The first crucial point highlighted is the detrimental effect of waiting on an agent's business progression. 
  • Jimmy emphasizes the importance of taking proactive steps and seizing control of controllable factors, such as the number of phone calls made and overall activity levels.
  • The message is clear - waiting for the perfect conditions will not yield progress; action is key to driving the business forward.

Overcoming the Trap of Making Excuses

  • Jimmy addresses the tendency of agents to make excuses instead of taking responsibility for their progress. 
  • Whether it's blaming external factors like interest rates or lacking the necessary skills, the speaker highlights how excuses can hold agents back. 
  • He encourages agents to leverage today's abundant resources, such as online learning platforms, to acquire the knowledge and skills needed to excel in their roles. 
  • By reframing their mindset, agents can transcend excuse-making and instead focus on tangible actions that drive momentum and create opportunities.

The Power of Listening and Providing Value

  • Jimmy emphasizes the art of active listening and the significance of understanding clients' needs to provide genuine value. 
  • It urges agents to shift from talking excessively to developing a deep understanding of client's requirements. 
  • Agents should ask insightful questions and listen carefully to their clients to foster trust and long-term relationships.

Focusing on Relevant Value

  • Jimmy exposes the pitfall of fixing macro-level issues beyond an agent's control.
  • Instead, agents are encouraged to prioritize adding value to their immediate clients by addressing their specific needs. 
  • Concentrating on controllable factors and responding actively to clients' needs allows agents to minimize distractions and direct their energy toward meaningful interactions.

Balancing Planning and Taking Action

  • While planning is pivotal, the episode emphasizes the danger of becoming stuck in a perpetual state of planning without executing. 
  • Agents are urged to balance setting goals and translating them into actionable steps. 
  • Daily activities are the building blocks of long-term success, emphasizing the need for consistent action over excessive planning.

The Crucial Element of Keeping in Touch

  • The episode underscores the significance of maintaining regular communication with clients, stressing that consistent engagement is essential for nurturing relationships and preventing missed opportunities. 
  • Agents are encouraged to stay connected with active buyers and future sellers, recognizing that a lack of communication can result in opportunities slipping through the cracks.

The Influence of Surroundings

  • The episode concludes by addressing the impact of the people agents surround themselves with. 
  • Jimmy highlights the significance of engaging with productive individuals and seeking mentorship from top performers. 
  • By spending time with active, high-achieving peers, agents can elevate their own performance and outlook, fostering a culture of growth and self-improvement.

This insightful episode uncovers the crucial elements that can spell success or failure for real estate agents. Agents can navigate away from business-killing behaviors by embracing a proactive mindset, overcoming excuse-making, delivering genuine value, and maintaining consistent client engagement. These lessons can be helpful for agents looking to chart a path toward sustainable growth and success.

"We can't control interest rates, so why are we focusing on interest rates instead of how interest rates affect those buyers or sellers we're working with? Decide not to focus on the big things that you can't control. Focus on the things you can control." -Jimmy Burgess.

Do you have a video or content idea perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook, and his YouTube channel.  If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.