Top 10 Things I Hate About Real Estate

SUMMARY

Here are the 10 things I hate about real estate:

1. B.S.
2. The egos.
3. I hate how easy it is to get in…and get out.
4. The Amateurism.
5. Our reputation.
6. How slow we are to adapt.
7. The whining and complaining of agents.
8. Rejection.
9. The boredom of repetition.
10. Lying clients

FULL TRANSCRIPT

Today, I wanted to have this conversation about the top 10 things that I hate about real estate. And I got to tell you, I love real estate. I love real estate. I love real estate sales. I’ve been in it for over 20 years and it is just my passion and I love helping real estate agents succeed. But I don’t love everything about real estate and that’s one of the things that I think everybody has to understand, is that whenever you do something and you love it, it doesn’t necessarily mean you’re ever going to love everything about it. If you’re going to be a parent, you’re not going to love everything about being a parent. There’s going to be things that you probably aren’t going to love, smelly diapers. If you’re going to have a great marriage, that doesn’t mean you’re going to love everything about being married, it’s just that’s the way it goes.

But you deal with those things and you look at and say, okay, what can I change? What do I have to accept? So, today, I wanted to have this conversation about the top 10 things that I hate about real estate because let’s face it, not everything about real estate is good, and not everything about real estate is fun, there’s some things I hate, there are some things you can do stuff about and there are other things you can’t do anything about, but I thought it was worth having a real legit conversation, kind of some fun, but also a legit conversation about what are the things that you hate about real estate and why can you do about it?

So, I’ve put together my list of my top 10 things that I hate about real estate, and I’m going to take you through those top 10 things from number 10 and we’ll count down to number one.

Number 10  – Liars

So, number 10, thing that I hate about real estate is, I hate liars. I hate them. You hate them. We all hate them. Buyers are liars, sellers are liars, agents are liars. Look, the reality is, in any part of the world, in any industry, anything you do, there’s going to be liars, but I hate them. And so, the main thing is don’t be one. If you’re going to be successful, and have massive success and you want to build relationships and have clients that want to use you over and over again, and you want to succeed and prosper in the real estate industry and in your market, you do not want to be one of these because when you become one of these, word gets out in the real estate community really, really fast, that you can’t be trusted. And so whatever it is, don’t do this. Shoot straight, tell the truth, be strong and don’t be a liar. And then when you have them, you’re going to have them. You deal with them. Okay. Trust people, but have your eyes open.

Number 9 – Repetitious Boredom

Second thing I hate about real estate is if you’re going to be great at it, this is just part of the game. I hate the boring stuff. I hate the repetitious boredom. Number nine is repetitious boredom. And that just means what are the things that you have to do over and over again to be successful, to be great. Especially stuff like training, like role playing scripts, like prospecting, even prospecting lead generation where if you’re calling people day after day, calling your personal … let’s face it, it can get boring. Doing Open House events. You can do everything in the world to mix it up and so forth, but if you’re going to be great at anything, there’s going to be things that have to be done over and over again that aren’t sexy, they aren’t romantic, they aren’t glamorous, they just got to be done.

So you do the things that you have to do, but keep your focus on the things you want, not the grind, but on the goal. And when you do that, even though you may hate the repetitious boredom, you can still survive it.

Number 8 – The Feeling of Rejection

Number eight thing I hate about real estate, I’m just a softy, I hate the feeling of rejection. Now 99% of you, just like me, I hate this. How do you deal with it? Have bigger goals. Look, if you’re trying to get one deal a month, then you’re trying to get one big yes. And what happens is every time you get a, no, you go like, that could have been my, yes, I failed. And rejection becomes a big deal. The smaller your goals are, the bigger rejection is.

But if your goals are huge and your goal is, I want to get three listings a week, my goal is not 12 deals a year, my goal is 12 listings a month, then rejection becomes very small because you’re like, if I get a no, that’s just part of the journey and I got to get so many yeses that a no is like no big deal. And so, even though we may hate rejection, the bigger your goals are and when you know, it takes massive action and I just got to get used to this, I got to get used to the no’s, it’s going to happen, rejection becomes nothing. You may hate it, but it’s nothing.

In fact, getting a no is less than nothing. It’s like N-O-T-H-I-N-G is nothing and no is not even a full nothing, so, no is less than nothing so get over it. You’ve got to deal with it.

Number 7 – The Whining and Complaining

Number seven thing I hate about real estate is I hate the whining and complaining. I hate agents who bellyache about the market, about technology, about the industry, about whatever’s going on, about their broker, about commissions, about commission cuts, about discount brokers about whatever it is that you want to complain about, real estate agents seem to have this amazing gift to find things to whine and complain about. If you want to be massively successful while the masses complain, the masters train, and that’s the difference. Whining and planning, be gone.

Number 6 – How Slow we are to Adapt

Number six thing I hate about real estate is how slow we are to adapt, how slow we are to change. We don’t like change. We just like, no, I don’t want to change and we resist it and we fight it, but change is a part of life, it is a part of the journey of success, embrace it. The road to success is always under construction. And so, when Charles Darwin came up with the theory of organic evolution, he talked about that it’s not the strong that survive it is the most adaptable, the ones that can adapt the quickest are the ones that survive and thrive. You may not like it, but it’s real. You can hate it, but you’ve got to embrace it. There you go. So, how slow we are to adapt, I hate that, we’ve got to adapt faster.

Number 5 – Our reputation in the Industry

Number five, the fifth thing I hate most about real estate is I hate our reputation in the industry. We talk about it that our reputation in the community is right below used car salesman, or right above them, or wherever it is, but it ain’t good. I don’t like it. Well, how do we change the reputation by being better? At raising the bar, by going pro and quit being an amateur, and quit … just this right here is what creates … 90% of the objections you get is because of this, because of their people’s experience with bad realtors, and incompetence, and unprofessionalism, and unethical behavior by real estate agents, we earn our reputation. And if we earned a bad one, we can create a good one. So how bout it? Commit with me. Let’s raise the bar for our reputation in the industry because I hate having a bad reputation.

Number 4 – Amateurism

The fourth thing I hate about real estate, and this is the cause of number five, our reputation and that is I hate amateurism. I just hate the fact that so many real estate agents are just amateurs. They show up like amateurs do. They don’t train, they train like an amateur tennis player would train, they show up like an amateur tennis player shows up, they play when they want to and they don’t make any money, just like amateurs. Amateurs don’t make money. Pros make money. And amateurism is just the bar, and I hate it and one of my commitments is is that I train agents to go pro and to really be great at what you do because when that happens, not only do you have more success, but you raise the bar. You raise it, you improve our reputation and you improve your own reputation. So I hate this, don’t be an amateur. If you’re going to do real estate go pro and treat it like a true professional, not like a part time amateur.

Number 3 – Easy to get IN and Easy to get OUT

Number three thing I hate about real estate is I hate how easy it is to get in and how easy it is to get out. Reason I hate how easy it is to get in is because people can get in and they’re still incompetent. You go to a few classes or take a few online courses, pass 150 multiple choice question at your state exam and you all of a sudden have a license and costs you a couple of thousand bucks and be like this $2000 and then I had to join the board and that was another $200 and that’s so much. I mean, try starting a real business. There’s not any real traditional business you can start for $2000.

And if your business requires a college education, now we’re talking tens of thousands of bucks. It’s too easy. It’s too easy to get in and because of that, it’s too easy to out. You could try it for three months, you didn’t like it, you try it for a year and you quit. Well, if it costs you 100,000 to get in, it would be a lot higher bar but it would also be a lot harder to get out because you’ve got more skin in the game, you’ve got more heart, and soul, and sweat, and equity in the game. And so, what would happen? You’d be more successful. You’d treat it more seriously. You’d be more of a pro.

But it’s always going to be easy to get in, always going to be easy to get out, so what do you got to do? You got to come in with a high level commitment, even though it was easy to get in, you got to come in with a commitment that it will be impossible to get me out because I will not fail. And if you come in with that level of commitment and you’re willing to train and go pro, you’ll succeed just that’s the name of the game. But it’s so easy to get in, it’s so easy to get out that people get discouraged too easily. So, I hate that about real estate.

Number 2 – Overinflated Egos

Number two, the second thing that I hate the most about real estate before we get to the big number one is, I hate the overblown overinflated egos. It doesn’t drive you crazy. Every agent who wants to like look how good I am. Look, I’m totally for promoting yourself and all that, but the overblown ego self promotion of agents when they don’t have the fruit on the tree to back it up, just drives me crazy. And also the way they show up in negotiating contracts and offers is when they have their egos and it’s all about them, your customers don’t like it.

Here’s how you win, you put fruit on the tree, you succeed massively. You’re going to get all the recognition that you need, all right? Don’t let your ego run your business. Don’t let it run your game. It will drive people away from you. All right? If you’re an achiever, you’re going to have ego. So it’s not like ego is a bad thing, but ego is so powerful and it gets over inflated it can really, really crush your perspective. So don’t let your ego get out of control. Keep that ego in check and just become massively, massively successful and let everybody else sing your praises. All right. Let everybody else bring you the business. All right. You don’t need to do it for yourself.

Number 1 – The B.S.

And then number one, the thing I hate most about real estate, and I’ve talked about this before, in fact, you probably could guess what is the number one thing that I hate the most about real estate and it’s this, I hate the BS. Nobody wants it. Nobody needs it. Your sellers don’t want it. Your buyers know on it. You don’t like it, but you’ve been trained, so many of you were trained that if you’re going to succeed in real estate, you got to BS people. You’ve got to use bait and switch strategy. You’ve got to use bogus statistics. You’ve got to use all this stupid stuff that is BS. And it is a large part of what leads to having a bad reputation.

And one of my commitments has been you can get yes without the BS. I published this book in 2016, The Book of Yes, because I was committed to help real estate agents learn how to do business, how to have conversations with people, how to lead people to decisions, how to help them, how to get them to set appointments with you, and list with you, and hire you, how to inspire them to do that without any BS, and this book was created because I wanted to help you and the industry know that you don’t need BS to get people to say yes to you.

So there you go. These are my top 10 things I hate about real estate. I’m curious to know what do you hate about real estate? And so, just comment in the comments below, what do you hate? Let us know. Share with me if you got something else that I didn’t include in the top 10, maybe we need some honorable mentions, or maybe you got something that’s even better than one of my top tens, I’d love to know what you hate about real estate and post it down below. If you liked the video, give it a thumbs up. If you don’t like it, give it a thumbs down. I’m totally cool with that. Subscribe to the channel if you want more great videos on how to help you get yes without the BS. Thanks for your time. I’ll see you soon.