3 STUPID MISTAKES NEW REALTORS MAKE - KEVIN WARD

you're gonna make mistakes however the fewer mistakes that you can make and the more mistakes that you can learn from others mistakes and avoid them the better off you're going to be if that makes sense [Music] hi there it's kevin award the founder of yes masters real estate success training helping you get more yeses and more successes in your business and in your life and when you're a new agent you're gonna make mistakes I know because I was a new agent and I made them and I made a lot of mistakes and today I want

to talk to you about three stupid mistakes that new Realtors make and the truth of the matter is you're gonna make mistakes however the fewer mistakes that you could make and the more mistakes that you can learn from others mistakes and avoid them the better off you're gonna be if that makes sense so I want to talk about three stupid mistakes or Realtors make that I mean one of the three and then the other two I just see too many real estate agents making these mistakes and it's crushing them and that's why I think they're

I believe that's the reason that there is an eighty to ninety percent failure rate in the real estate industry in general now when you really think about it an eighty percent failure rate in real estate is not really that surprising because when you look at bid new business startups they say within two to five years 80% of all new businesses fail well becoming a real estate agent is technically a new business startup because you're an independent contractor and it is your business so the good news is that you own it you control it the bad

news is you own it it's up to you if it's it's sink or swim you you succeed or you fail you win or you lose the worst thing you can do is just drag it out forever and be miserable making just enough money to stay in the game just enough to renew but not enough to really ever feel like you're getting a lifestyle or really getting ahead so I want to talk about three mistakes the real estate agents make that are all avoidable and that's the best part about it these three mistakes are all avoidable

number one starting to slow starting to slow and that is that you try to just wade into the water really really slowly because you don't want to get it's too cold if you just jump all in you know headfirst so I'm gonna go in slow now people ask all the time can I start Real Estate part-time and I've got a couple of videos that you can finally look up Kevin award part-time real estate or part-time realtor and you can watch those videos on how to get started part-time and go from part-time to full-time and should

can you succeed as a part-time agent the answer is yes but it's harder because especially if you're trying to start slow now here's a here's the reality of starting slow when I say starting slow it's like I'm not I'm not really gonna go in full-time or I'm not gonna go in 100% I'm just gonna kind of learn the ropes and get my feet wet a little bit and all that here's the problem it takes too long it takes too long to get skills and skills matter it takes too long to get confidence and confidence matters

it takes too long to get street cred then credibility matters it takes too long to get momentum and it's when you get deals piling on top of deals and this deal leads to another referral and this deal leads to this deal whenever those things happen and you get momentum it's like unstoppable and it just takes too long to get market presents which just means you get more deals from your deals and from the fact that people get to recognize you and know who you are so I just look at it this way do you want

to do this slow or do you want to do it fast do you want to make money slow or do you want to make money fast now for my money I want to make money fast I've made money slow and I made money fast fast is more fun and it's a whole lot easier over time when you go in fast you pump the pump you hit it hard even if you're coming in part-time just hit it hard work hard put in every hour you can put in all the time you can burn the candle at

both ends if you have to and then the reason that's critical is you get into that point of critical mass where boom you click over the top you click into that hyper speed of now you're making money you're making money making money and you can get out of your other job assuming that so that's the plan you get out of the other job and now you just bought back all your life you just bought back 40 hours a week the moment you exit another full-time job to go full-time in a real estate and then you

can really explode I I believe and this was a mistake I did not make I did not start slow when I started real estate the thing that I think I did right was I started fast and I think my success is largely because I put my back against the wall I had no plan B I had no options I had no savings I had no other job I quit my job I started out all I had was some credit cards I had no savings I it was sink or swim failure was not an option for

me and so I had to start fast I had to go in I was pedaling as fast as I could with both feet I was working six seven days a week I didn't have to do and I didn't have to do it for long but when I went in I went in a hundred percent and the agents that I see that dive all in and they go in full commitment full-bore as a professional they are much more likely to succeed both in the short term and particularly in the long term then when you try to

start slow so number one don't start slow that's a huge mistake number two second stupid mistake that new Realtors make is starting too smart starting too smart and that is you think I got this yeah I'm good that I got this I've been I've been studying real estate I've been looking at houses we're going to open houses you know I've bought and sold my own houses or because you have some type of background that you think will make you great at selling real estate like you may have a sales background or a finance background or

a marketing background or a construction background or I am an architectural background or a design background and I've heard all of these and I've heard agents come in brand new agents come in they're going well I have a background in architecture and you know real estate is architecture so therefore I'm gonna be great at selling and they come in and fam they hit their head against the wall and they find out that their architectural knowledge does not help them get a single deal you see it's kind of like saying because I know architecture and houses

or architecture is kind of like saying because I like birds learning how to fly an airplane will be easy for me it's it's a totally different thing and yes is there some connection probably you know you may know interior design that's not a whole lot connected to actually getting people to hire you to sell their house and then being able to sell it for top dollar don't be too smart start when you start start start stupid it's okay in other words start going like I don't know what to do I need to find somebody that

can train me somebody can help me get a mentor get a coach learn all that you can okay now I'm gonna be doing another video here in the near future on the worst place to learn how to succeed as a real estate agent I'm gonna give you the little insight right now and that is don't learn from other people who are brand new don't try to learn from other people who aren't good at selling real estate okay get them into our coach but get and get all the training you can but it's best if it's

from somebody who's actually got fruit on their tree you get somebody who actually has is selling or has sold a lot of houses that's had massive success and then learn from the learn everything you can from the shadow them talk to them go with them on a listing presentation not for you go on one of their listing presentation with them just ask can I go along and and shadow you I'll help you I'll do whatever you need me to do I'll do measurements I'll you know I'll put signs up I'll put on lock boxes you

tell me whatever you need me to do and do that with them with another top producer and learn from them work for them for free I know that's crazy you're gonna like why few minute work I I want you to learn from somebody who knows how that what they're doing and don't try to act like you're too smart and let your ego get in the way and I'm totally serious I would be willing to work with a new realtor a new Anu as a new realtor I'd be willing to work with the top agent for

free do stuff for them just so that I can learn what they do and I say join their team okay build your own team build your own business make your own money but learn from them and be willing to do things with them shadow them help them and all of that to get this credibility and to guess there's not learn from their knowledge learn from their success watch how they do it what they do and you'll find they make mistakes too and over time you'll learn and they do things that are probably not the right

things and if you find they're doing something that's BS you don't need that there's a better way you can get yes without the BS but don't go in thinking I got this and not and refusing to ask for help or trying to well here's that here's the third let me just give you the third stupid mistake that new Realtors make and that is they start to stingy they start to stingy and that is they're like I'm looking for the broker where I get to keep all the commission you know I want the cheap broker I

want the broker that's that I don't want a big split what are you kidding on what are they gonna do for me I want to get I'm gonna do all the work I want to make all the money well you may be doing all the work but you don't know what you're doing so don't be stingy don't be out there looking for the lowest splits now I'm not saying that you should look for the biggest splits but I'm saying there I'm look for the best support look for the long game where can I go and

who can I affiliate myself with what can I do as a new real estate agent that will help me get wins under my belt and I'm gonna tell you you want to make a lot of money in real estate wins under your belt success under your belt success breeds success you get wins under your belt you get listings you get sales I don't care if you're getting only 10% of the commission if you get listings and you get sells you're gonna get track-record you're gonna get confident you're gonna get experience all of that stuff you're

gonna get credibility and all of that is gonna help you get position where you can build your business but I've seen agents and if they're like I don't I don't want to work with a mentor because they want to split the they want to split the deal 50/50 and I know I'm gonna do all the work and all of that now let me say this about working with somebody and splitting a deal or mentoring all that the reason a lot of agents don't want to split a transaction with a mentor is because they've had a

bad mentor and and I totally agree a bad mentor is as bad as no mentor and in a sense they're worse because they're going to take half your money and they're not gonna really help you but finding a great mentor or finding some way that gets you the track record that gets you the listings that get you sales and get you success under your belt whatever it takes to get there that is worth it I don't want I want you to start with a long term plan not as short not short don't think about the

short game think about the long game the short game is oh my first deal I want to get all the Commission I'm just like if I if I can save the Commission then I only need to get half as many deals but the problem is you're gonna get fewer deals because you're trying to do it on your own and you're being stingy now I'm gonna give you one example of a friend of mine who's been in real estate a lot longer than I have that when he started real estate he did a strategy that to

this day when I heard it blows my mind and yet it put him on a track to become a top producer fast he is that he is the number one broker real estate agent in all of Phoenix Arizona even today after all these years and here's I did it when he was a brand-new agent he was young he didn't have a clue he had no low experience no credibility nobody knew who he was or anything and so he said here's what I'm gonna do I am gonna go out and I'm gonna market myself to everybody

I can and my market myself to force all the owners expires anybody that's looking to sell their house and I am going to offer to pay all of the commission to the agent that brings the buyer and so he went out and he started prospecting and he said make every agent the listing agent so when he would be prospecting he would talk to a potential seller and the seller would be why should I hire you what about all these other agents said outlets here's the deal I'll make every single age when you hire me every

age it becomes a listing agent because I'm gonna pay a full cut the full Commission the whole thing and I don't know what it was 6% 7% whatever it was but let's just say it was 6% he said I'm gonna pay the whole six percent to the agent that brings the buyer so when you hire me every agent is going to be the listing agent now he used that entity basically said I make no money they're gonna and with sellers go like why would you do that and he says well here's why you should hire

me is because one you know when I take your listing I'm gonna hustle to find a buyer for it because I don't find the buyer for it and another agent makes Bart I make nothing but if I bring the buyer I'm gonna get the full commission he went out there with that message basically saying I want no I get no Commission unless I sell it myself and I will promote it I'll put it out there on the MLS and if they the buyer they get the full commission I mean which agent is not gonna fight

tooth and nail to bring a buyer to that listing that's what he did in his first month he took eight listings because he'd go out there and talk to herself - expires and and for so many owners and if they were gonna hire an agent and most expires were he would go if you're gonna hire an agent hire me cuz I'm gonna give all my commission that they got why should I hire you to set him will he feel hire him he's not gonna have the same thing when you hire me you're actually hiring him

because if he has a buyer and he brings him I'm gonna give him the whole Commission he took eight listings in his first 30 days they're like well yeah but he's not gonna make any money on him well here's that here's what actually happened he took eight listings in his first 30 days he sold all eight listings he brought the buyer on two of them so on two of the eight listings he brought the buyer so he got the full Commission both the buyer side in the listing side and of all of those eight listings

that he sold he helped four of them to buy their next house so in 60 days he had eight listings sold and he had six buyer sales he got paid on all six of the buyer sells he got paid on two of the listings sold and in 60 days he had in story credibility and he had huge market share and nobody cared how he got it when it showed up on the MLS when it showed it was signs in yards they showed he showed it what's with this credibility after that he never ever again had

to do that now you can go out and get listings and he could do the full just regular commission splits and all that kind of stuff but now he went out with credibility as somebody who had actually taken listings and sold them and in 60 days he had more experience than most agents will have and the average agent will have in a full year because he was willing to go out there and he didn't start stingy and going well I'm not gonna give away all my commission now granted I'm not saying that you should do

that and you have to have a broker that was willing to let you do it basically the broker will use what we got to talk to broker and to say let me try it for 30 days they don't answer okay you try for 30 days he tried it for 30 days got eight listings after that couldn't do it anymore but it didn't matter because he wasn't thinking about how much money he was going to make on those eight listings what he was thinking about was how much business how much street credibility and track record could

he get create out of doing that and it wasn't he didn't it didn't matter so much how much he made in that first out of those first eight listings what mattered is that he had have a credibility in the track record they would allow him now get more listings and get more listings get more or less sees where he was guaranteed that he was going to get paid it's a long-term thinking strategy to get success knowing that the money would come and my whole point on that is not that that's a strategy necessarily you should

try not recommending it and I'm not your broker that you got to check with your broker and your attorney before you try anything like that but my point is don't be stingy think how can I get track record how can I get success I'm gonna say it again success breeds success get yourself in the game get things happening get business whatever it takes to find the business and get the business get the business get success and win if you liked the video give it a thumbs up I know this has got some interesting thoughts in

an interesting stuff and it so put your comments or questions down in the comments below share this video with other agents you think it will help especially if there are new agents and you like it again give it a bit give it a thumbs up subscribe to the channel or more videos on how to help you get yes without the BS and I'll see you on the next video