How to Fail in Real Estate

There are many articles on how to succeed at a career in real estate. What is overlooked is the many wonderful ways one can fail in this demanding career. This is not just a sarcastic look at the many ways that real estate agents ruin their careers. If you know how to fail spectacularly, it may be that by avoiding these situations and behaviors, you can succeed.

1. Go into real estate without being prepared

In order to fail really wonderfully, don't save anything. Not for living expenses, business expenses, unexpected expenses, emergencies… saving is as good as saying that you're going to fail and we all know that people who prepare for bad things are just wimps who aren't good enough to have real estate sales just fall into their laps the first time out.

2. Know everything

Don't bother taking classes or going to seminars. Never take advice! I don't care if it's the president of the NAR, the guy who has quietly made several million selling real estate or the senior agent at the firm where you work. NOBODY knows as much about real estate as you do - nobody. Don't bother listening to them; they're probably out to sabotage you for being so utterly brilliant.

3. Sit back and wait for the sales to come to you

Successful people like yourself never should have to market their services. An ad in the paper is about as much as you should do to promote your business. Travel around in your car. Sip lattes. Tell your friends what a great life you have now that you're working for yourself. Wait for your BlackBerry to ring.

4. Make the sale the be-all and end-all

It doesn't matter if you have to lie- er… creatively reinterpret the truth to your clients, other agents or the many people you will be dealing with during a real estate transaction. If your client needs a mortgage, encourage them to get one, no matter what. If you have to help them creatively interpret their income or other assets, well that's just part of the job.

5. Be polite to rich clients and rude to everyone else.

People who have money and can get you places are the people to focus on. Yeah, you can take on some poorer clients just to pay the bills, but that doesn't mean you have to be nice to them or work as hard. Make sure the clients looking for a more modest home know that you're taking them on only because you don't have anyone better. 

6. Expect family and friends to use your services

You have a right to your family's and friends' patronage. Let them know it, in no uncertain terms. It doesn't matter what kind of real estate transaction it is; they owe it to you by virtue of the fact that you gave them a stick of gum in the 3rd grade. If someone uses another agent when you know they knew you were in the business, call them up and demand to know why. So what if Aunt Catherine had used her agent twice before and was comfortable with him? No Christmas card for her this year.

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