Author: Eric Lowry
There are eight stages of a real estate business that agents will find as they grow and build their real estate sales career. Each stage comes with its own set of challenges, its own mindset shifts, and its own set of skills that need to be mastered before moving forward. Understanding which stage you are in right now is one of the most important things you can do for your business. When you know where you are in the stages of a real estate business you can stop guessing and start taking the right actions to move forward. In this article we will cover the first stage of a real estate business that agents will face.
The First Of The Eight Stages Of A Real Estate Business
The first stage of a real estate business that agents face is that beginning stage, called the “Solopreneur”. Generally agents in this stage are new to the industry and have done less than 12 transactions in the last year.
In this stage the agent is operating on their own with no real support. You got into real estate and nobody really showed you how to get clients. Oftentimes this stage comes with a high degree of frustration as you are unsure what to do to find clients and make sales. Frustration can also be caused here by the lack of direction being provided.
Many times agents in this stage start to ask themselves questions like “what don’t I know that I should?” or “what isn’t someone telling me that I need to know?”
In this stage the agent is often living paycheck to paycheck.
A real pain point of this stage can be a lack of clarity on exactly what to do. No leads and a lack of experience can make this stage tough to push through. A real feeling of being lost can show up here.
The skills needed to master this stage and move to stage two are (1.) having a positive, determined mindset, (2.) having clearly defined goals, (3.) being coachable, (4.) investing in yourself and (5.) having a very strong work ethic.
Having a strong daily routine and being focused on self improvement are critical components to have in this stage.
A couple of common mistakes agents make in this stage are following the herd, listening to the wrong people and not investing in themselves and their business. For example, new agents hanging around other new agents, going to coffee with them and following their advice.
A key factor is being aware of and being purposeful about the environment you are in daily, who you are in business with matters!
Your goal in this stage should be to establish yourself as a market expert among your sphere of influence, have clearly defined goals that you have a really strong desire to achieve and a plan that you are confident that you can execute!
Are you looking to push through to the next level of your real estate career? I can help. Understanding the stages of a real estate business is just the beginning. Knowing what stage you are in is one thing — having a plan to push through it is another.
The agents who successfully move through the early stages of a real estate business are the ones who find the right mentor, commit to daily action, and refuse to quit when things get hard. Stage one is tough but it is also temporary. Every successful agent you admire has been exactly where you are right now and pushed through it.
I would love to help you do the same. Book a totally free call with me and we will tackle your biggest challenge together and map out exactly what you need to do to move to the next stage.
Book a free call with me here!
Keep an eye out for The Eight Stages Of A Real Estate Business – Stage Two coming soon!
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