Being in real estate is a tough business.
Hell, any form of self employment is a tough business.
Often times you are CEO, CFO, Agent, Assistant, Coordinator, etc… You end up being one person wearing many, if not all, of the hats.
You work hard to find and retain clients, learn about them and their needs, work even harder to meet their expectations and promises you made to them, put their best interest above your own, create order out of chaos, and try to make the home selling or buying process as smooth and stress free as you possibly can.
People watch HGTV and think that real estate is easy money.
I used to think that.
The reality of real estate is that every day you wake up, you are broke.
You never know when and where your next paycheck is coming from.
Even if you have Closings scheduled, a dozen different things can happen between going under contract and the actual Closing that cause the transaction to get cancelled.
You can go weeks or months with no clients or payday in sight.
No, if you like stress and uncertainty, then real estate is the right job for you.
In order to survive in this profession, you must be dynamic and not static.
You need to be constantly flexible and open to change.
If you are not, you will die a painful death.
That is why I fired myself this week.
Let me explain…
Real estate is cyclical. It rides a wave of 10 year highs and lows. There is no escaping this. If you look at real estate from a historical perspective, the pattern is quite clear. Real estate prices climb, then enter in to a period of adjustment where the Market corrects itself, and finally the cycle starts all over again.
The signs are there, if you know what to look for.
The last market adjustment was in 2008. It is now 2018. You do the math.
Now, do I think we are going to enter a Crash like we did in 2008? No I do not. The 2008 Crash was the byproduct of deregulation and a ‘Perfect Storm’ of conditions, but over the next couple years, we are going to see an adjustment in the current Market.
For the past several years, I have stuck to the same Business Plan with little adjustment to that plan. It worked well for a while, but the data does not lie. It is time for a change, and I have been ignoring the data that has been staring me in the face.
Most often it is not unforeseen circumstances or forces beyond our control that result in failure in a business. Most often it is ourselves and our egos that get in the way. We unintentionally create a bottleneck that stands in our way of adapting and scaling to a changing market.
Over the past several weeks I have come to realize that I am my own bottleneck to my business. I am holding myself back from what I am capable of achieving.
So this week, I fired myself.
It is time to re-imagine and restructure my business to a changing market.
It is time to invest in myself.
It is time to take the ideas and concepts that I have been studying and put them to practical use.
I am destined to be more than just a real estate agent.
It is time to commit to making a positive impact in my community and beyond.
I owe it to myself and my family.