Four Things I Wish I Knew Before Getting Into Real Estate

When I began studying to obtain my real estate license, I reached out to everyone I knew in the industry. I would ask questions like "What has been your biggest challenge?", "Why did you get into real estate?", and "What advice do you have?". As I looked back on my notes from interviewing different agents, I was reminded of these four pieces of advice that were offered to me. At the time, their advice didn't fully resonate with me. I could not fully internalize the advice I received because I hadn't had enough experience to truly understand it. Now that I've gained some mileage on my journey, I would like to share four things I wish I knew before getting into real estate.

1. Failure is part of the process. In my first year in the business, I felt gut-punched nearly every day. Losing offers for my clients, losing clients who thought I was too "green", and getting hung up on when I would make cold calls, were just a few instances of gut-punches. It took me quite a while to get comfortable with rejection, and it was happening every day. All it took was a shift in mindset to start moving forward in the right direction. I had to realize that every single failure brought me closer to success. Once I put that into perspective, I realized I had to fail as much as possible, yet learn from those failures. All of the "no's" will lead to the "yes" that you work so hard for; all you need is time, effort, and patience. Fail forward, and fail often.

2. Patience is key. This career is like a bag of popcorn. First one kernel pops, then a second one. Then a few more, and before you know it, the whole bag is full of mini explosions. All it takes to get that popcorn bag popping is some energy. In addition to a positive mindset on failure, you’ll need lots of energy to keep going. Focus your energy on what will move the needle forward just a little bit each day and you'll soon have a compounding effect of repeat business, past customer referrals, and sphere referrals. Make sure everyone you know is aware that you are in real estate, and eventually you will experience the fruits of your labor.

3. This is a 24/7/365 business...

That's right, I said "business". As soon as you pass your exam and pay your fees, you effectively become a business. You have one employee and that's YOU! That means that you'll be working a lot of hours. Many people get out of the 9-5 and think they're escaping the rat race. The rat race is just beginning! Chances are that unless you are on a boat in the middle of the ocean, you will be doing something for your business every day of the year. Even on days where you gave yourself "off", you might find yourself negotiating a deal or responding to a quick text. That is the reality of this business. However, there is flexibility in the hours you work and how you structure each day, even though each day will likely bring some level of work into your routine. While not for everyone, the schedule of a real estate agent is where some people will thrive best. Keep in mind, you get out of this career what you put into it.

4. ...but remember to take care of yourself. Let me be straight: burnout is real. Even though you are running a business, you still need to listen to your body. Don't be afraid to set boundaries with others. That means clients as well. If there's a day where you will be out of pocket, make sure you have a colleague ready to cover for any time-sensitive tasks you need completed. It's important to have people around you that you can be open with and who want to see you succeed. This can be a lonely business, and having those people around you will make it a journey worth having.

I could go on and on about things I wish I had fully grasped before I entered into real estate, yet these four lessons have been fundamental to my growth. You cannot only gain wisdom from others' experiences. You must gain wisdom from both the lessons taught by others and your own experiences. That is why it is so important to jump in, head first. Don't worry about what you don't know; with experience, you’ll gain wisdom, and before you know it, you too may find yourself writing a blog post about your experiences worth sharing.

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