Your First 30 Days in Real Estate – Think Like a Business

think like a business

Think Like a Business:

Part 3 of the series “Your First 30 Days in Real Estate”

In your first 30 days as a real estate agent, you need to begin every day and operate like a startup business. In other words, acquire the business mindset.  Now that you believe in yourself (part 1) and now you’ve got a goal in how much money you want to make or how many houses you want to sell (part 2), the third step is to say “I’m a business.” Let’s say that again. “I’m a business.” Don’t most of you get into real estate for a lot of different reasons, but some of them are “I don’t want to work for anybody anymore. I don’t want to clock in and clock out. I want to have the freedom to operate the way I want.” Well, that sounds like a business owner or entrepreneur. Step number three is you need to begin to understand what it means to run a

Most of you get into real estate for a lot of different reasons, but some of them typically sound like this:  “I don’t want to work for anybody anymore. I don’t want to clock in and clock out. I want to have the freedom to operate the way I want.” Well, that sounds an awful lot like a business owner or entrepreneur. Step number three is you need to begin to understand what it means to run a business because you’re a business. It’s time to think like a business and act like a business owner.

“I’m a business.”

The Awesome Thing About Real Estate

What’s awesome about real estate is there’s no ceiling to how much money you can make in any given year. There’s no cap. You can make as much money as you’ll go out there and earn, but technically there is a basement, isn’t there? If I don’t do anything, it’s going to be hard for me to make money. If you’ve ever run a business before, you already know the mindset. This is what it takes to think like a business.

As a business owner, I get paid last. All the bills get paid. All of our employees get paid. All of our vendors get paid. Every single bit of that gets paid before I do. If and only if there’s money left over, then I get paid. That’s the business mindset. I know I get paid last. I’ve got to produce, to make sure there’s money left over after paying expenses.

You’re a real estate agent. You need to establish the idea that every single day you have a routine, a schedule, and you need to get into the routine of what a business owner that owns a real estate business is going to do every single day. Now, don’t say, “Oh, good, I got into real estate, so I don’t have to work anymore.” No, work like crazy your first 30 days! Set up a schedule where you’re working five days a week. Then, the important thing is what is my routine going to look like?

as a business owner is that you need to learn the difference between being busy for the sake of being busy and being productive

 

So What Should You Be Doing?

You might say, “Work? What do I do?” What you want to understand as a business owner is that you need to learn the difference between being busy for the sake of being busy and being productive. Think like a business. At some point, you may reach the point in your career where you’re almost on autopilot to a degree, where you’re not going to have to work crazy hours because you’ve got a system in place and productivity at an all-time high to where you won’t have to work like that. But you’re a startup business. Your first 30 days, work as hard as you possibly can. Every waking hour that you have available for real estate, wo

You might say, “Work? What do I do?” What you want to understand as a business owner is that you need to learn the difference between being busy for the sake of being busy and being productive. Think like a business. At some point, you may reach the point in your career where you’re almost on autopilot to a degree, where you’re not going to have to work crazy hours because you’ve got a system in place and productivity at an all-time high to where you won’t have to work like that. But you’re a startup business. Your first 30 days, work as hard as you possibly can. Every waking hour that you have available for real estate, work on it. Then, when you’re working, do things that are productive, not things that are keeping you busy.

Do These Three Things in Real Estate – All The Time

 

real estate sales

If you want to understand the business of real estate, it’s three things. Real estate is all about prospecting, presenting, and closing. It’s really that simple. If you want to be productive, you better be prospecting, you better be presenting, or you better be closing, or else, you’re just being busy. Prospecting is the hard part. That’s the part you’ve got to really work on as a new agent, but if you’re not prospecting for new business, you’re presenting. You’re showing houses to somebody that may by or you’re sitting at a listing presentation with a seller that may hire you. Then, closing is getting transactions signed, getting your listing agreements signed, getting purchase agreements signed. Those are the three things you should be doing. If you’re not doing something related to prospecting, presenting, or closing, you’re just being busy. You’re not being productive.

Business owners understand the importance of making sure they’re productive. Do you have any idea how many emails and phone calls and messages we get in this office every day? What I want you guys to know is if I did just sit there, I could just answer emails all day long, but at some point, we’re going to have no more customers to answer, because I’m not doing the things that are productive to bring in new business. You’ve got to have the business owner’s mindset, to think like a business means to think about moving the company forward every day.

I would wake up in the morning and go, “Man, I just started a new business.” All the pressure and the fear that comes with that is good. It’s natural. Pretend you have investors. If you don’t get this business going, you’re going to have investors knocking on your door wondering when am I getting my money back. You’re a startup business. Operate that way every single day.

Hopefully, you like what we’ve got so far in this series. Look, I’ve been a full-time real estate agent. I’ve sold millions in real estate. I loved the business, and I still have clients that I work with, but what really gets me up in the morning, my why is helping share with you how you can build your real estate business.

If you saw something here you can use, please make sure to reach out and let me know. Hit me up on Twitter, I love seeing you there @christalksdaily. Hit us up on Facebook, @chrisdonaldsonHQ.

If you’ve got questions or curiosities, reach out. A specific question that you’d like to ask? –  that’s the fun! Email your question, chris@christalks.com. I’d love to hear from you. There’s nothing like being able to give you the value you deserve by answering questions, burning questions that you have. Also, let me know you’re finding these articles helpful by liking them and sharing them on social media! Also, if you are looking to get started in the real estate business click here for information on Donaldson Real Estate School and all of our courses and exam prep programs.

Your First 30 Days in Real Estate (Part 2) – Defined Goals

defined goals

The Importance of Setting Defined Goals

The following blog was taken from episode 03 of #OfficeHours.

 

defined goalsStep #2: Set Defined Goals

In the first blog in this series, I shared my thoughts on the importance of mindset. Once you have the space between your ears working in your favor, the next thing you need to do is set defined goals. Because if you don’t set defined goals, what exactly is it that you’re chasing every day? If am training to run in the Olympics I should have a very defined goal. “I want to win the 100-meter dash”, not, “eh, I just want to go run.” Who’s more likely to be successful, the guy that says, “I’m going to win, and I’m going to run this time,” or the guy that says, “Eh, I’m just going to go run.” Understand that you’ve got to have a defined objective. This is all about discovering your “Why.” Everybody here got into real estate for a reason. Remember that every day. “It’s because you need to make more money.” That’s okay. The one thing that people don’t seem to openly admit is that “I’m getting into this business because I want more earning potential.” You can say it. That’s okay. This is a safe space. There’s nothing wrong with that.

Is it a Dream or a Goal?

If you set a defined objective that says I’m going to sell 12 houses this year, just one a month. A very modest goal to some, but now, it’s staring you in the face. Everything that you do this year is going to be building towards 12 houses. You’ll be amazed how much that matters relative to, “Eh, I just want to sell some houses.” It’s really hard to, “eh, sell some houses.” You’ve got to have a defined goal. Talk to a top agent. They’ll tell you, “My goal is to do this.” It’s either to become a top agent, or is it to gross this much in commission, “I want to beat Susie across the hall because she beat me for a top award last year.” As a top agent, they’ve got a goal. A goal is a dream with a time limit. You’re saying, “I’ve always wanted to make $100,000 a year. Now I’m saying I have to do it this year. I better put a business plan into action.”

A goal is a dream with a time limit

If you don’t have goals, it’s really just a dream. It’s very difficult, as somebody that’s running your own business in real estate, to just get up every day and say, “Well, I hope my phone rings today,” or, “Man, it’d be really cool if I just sold a house.” It’s going to be hard for you to reach the success that you may want, and the reason is that you’ve got to have a defined goal. So take pen to paper and write down how much money you want to make this year or how many houses you want to sell. Nobody has to know what you write. You look at that. I cannot help you succeed unless you have a defined

So take pen to paper and write down how much money you want to make this year or how many houses you want to sell. Nobody has to know what you write. You look at that. I cannot help you succeed unless you have a defined target because without a target, it’s very difficult to make it in sales. You know why? Because people need to be driven by a goal. What is it? So you need to decide what is the why. Why did I get into real estate? How much money do I want or need to make? That’s the ultimate end game here.

Monetary Goals are O.K.

It’s okay for that defined goal to be monetary. You’ve got bills to pay. If you’re going to be a full-time real estate agent and you’re leaving a job where you made a defined salary, well, at least you’ve got to replace that, right? Write it down. Then, you can start to build your plan. How many houses do I have to sell to at least make that amount? Step number two in your first 30 days is you have got to establish clear goals. One, get your mind right. Get the attitude of a successful real estate agent. We’re talking about your professional goals because that’s going to drive you day after day. Why did I get into real estate? That’s incredibly important.

So let me say it again, it is o.k. to have defined goals based on money. It doesn’t, and shouldn’t, be your only motivation necessarily but it is just fine to be part of the formula. Remember, at the end of the day this is your career. You want and need to make money to survive, support your family, enjoy your life. Therefore stop being shy about your money and start getting real. And there’s nothing that makes it more real than defining that number and putting it down on paper.

Watch the Full Episode on YouTube

What to Do in Your First 30 Days in Real Estate (Part 1)

first 30 days in real estate

Your First 30 Days in Real Estate: Part 1

This series of articles is for those that really want to succeed in the crazy business of real estate. Because I’m here to tell you, there’s not necessarily going to be that fast, easy money like some people think comes in real estate. It’s going to take some work. It’s going to take some time. It’s going to take some patience.

What I do have here for you go-getters is a five-step plan, just five things you need to do in your first 30 days in real estate if you want to make it. Please take out pen and paper, pull out your laptop and work a little split-screen action, or however the heck you choose to take notes –  because I’m giving you real stuff that you can put into place right away. This is actionable advice on what to do as a new real estate agent or somebody that wants to restart their career, in your first 30 days in real estate.

Step 1: Check Your Mindsetmindset real estate success

The first thing that you’re going to want to do, literally as soon as you get your real estate license, is you need to work on your mindset. You need to get your mind right! What I mean by that is you’ve got to understand that it’s a certain set of skills, but also personality traits, that most successful real estate agents share. You want to learn what those traits are and start to cultivate them right away. Because I’m going to tell you: your attitude, your mindset, your drive is going to matter as much, if not more, than if I gave you some magic three steps. You know, just do this, this, and this, and you’re going to make a million dollars. Well, obviously, we would all be very successful millionaires if it was that simple. So, you’ve got to understand that when you first start in the business, you have got to get your mindset right to tackle the real thing.

It’s all about your attitude. What you need to understand is attitude and how you approach the business, how you treat yourself, how you are ultimately entering your new career in real estate matters more than anything. Let’s say, for instance, is that if you’re a new agent let’s say right out of real estate school. What we’re talking about is your business plan for your first 30 days after passing the real estate exam. It’s your first 30 days, let’s make it count!

You’re New – So What?!

You’re new, and I’m going to tell you, it doesn’t matter. One of the things I want you to understand is getting the type of phrasing out of your system now, “I don’t know what I’m doing because I’m new.” “I’m too new.” “This other agent knows more than me.” “I don’t deserve this listing because I’m really just too new.” At what point are you going to decide, okay, I’m not new anymore? Because if you keep telling yourself, “I’m new. I don’t know what I’m doing. I’m new, I don’t know what I’m doing. I’m new, I don’t know what I’m doing,” the problem is, at some point, that’s going to become a self-fulfilling prophecy.

What I want you guys to understand is part of getting your mind right is having the confidence and believing, from day one, that you can succeed and that you are 100% capable of serving your client as their real estate agent. What I want you guys to understand is don’t assume that these other agents in the marketplace know more than you. Don’t assume that you don’t have enough information to be able to serve your client. You can kind of fake it till you make it at first, but your mindset is key. You’ve got to have the confidence to understand that you can do this.

At what point are you going to decide, okay, I’m not new anymore?

 

I’m Going to Fail…Wait Am I?

Think about your license exam. If you’re reading this, it’s likely you just passed your exam or you might be enrolled in a real estate class. What happens if you go into the testing center and you’re going, “I’m going to fail. I’m going to fail. I’m going to fail. I’m going to fail. I’m going to fail.” What are you going to do? You’re going to fail miserably because you’ve convinced yourself that you were going to fail!  It becomes a self-fulfilling prophecy. You are going to literally make yourself fail that exam. It’s the type of thing that I want you guys to understand, that what you believe about yourself is what you become.

You Have to Believewear your real estate dreams

You have got to get your mind right because you work for yourself now. You’re in sales now. You just started a real estate business. If you don’t believe in you, how is anybody else going to believe in you?! Sure it’s your first 30 days in real estate but that should not be stopping you from having the confidence to get out there and do it.

How am I going to hire you to represent me if you don’t even believe that you can do it? Therefore, it is critical that you start from day one, “I can do this.” You’ve got to have the mindset that “I deserve success, I belong in this industry, and that I can do this.” What I want you to understand is if you’re new, this is your first 30 days, it’s okay to make mistakes. It’s okay to not know what to do. It’s okay if you mess up. The idea of trying to avoid messing up or making mistakes by just hiding from it, what you guys need to understand is you’ll never get anywhere. Everybody makes mistakes. Everybody screws up. Don’t have this mindset like “I’m new, so I’m going to make mistakes and I’m going to screw up.” It’s okay if you do (legal and ethical matters aside). What you do is you learn. You either win in a particular situation, like you get that listing, or you learn from it. You never lose. You either win or you learn.

Please say it with me –  it’s okay to be new. Everybody must have their first listing appointment. You’ve got to have your first contract negotiation. You’ve got to have the first client that tells you to get lost! You’ve got to have the first deal that you thought you had clear to close –  only as it falls apart at the last minute. Your first commission check. Your first million dollars. Whatever it is, everybody’s got to have their first one, so don’t worry about it. You’ve got to start somewhere, so make sure you get your mindset right and you are confident and prepared for what’s coming.

You either win or you learn

I’ll say it one more time –  it’s okay to be new. Ask your broker, ask your trainer, ask your coach if you don’t know what to do. Let them help you out. It’s also important that you start to remember that you are a real estate professional, you have a real estate license. Respect yourself as a professional and others will respect you, too.

Tell Yourself the Right Things

An important piece of your mental mindset is that you’ve really got to start working on your daily self-talk. How you talk to yourself is going to really matter in how you’re going to work in this business. I strongly suggest that you begin the practice of daily affirmations. Write down on a piece of paper, pen, and a pad, write down, “I am an awesome real estate agent. I can do this. I’m going to make money in real estate.” You write it down and you sell it to yourself. You repeat it. “I can do this.” Every morning, first thing in the morning. Go in the mirror. Lock the door, nobody can hear you no matter how strange you think it sounds. Read your affirmation out loud, because you are going to believe it the more you say it. Your self-talk is big. I mean, how many times do you see somebody make a mistake and they say something like, “I’m an idiot.” No, you’re not an idiot. You made a mistake. You’re a human being.

Start monitoring your attitude and your self-talk. It’s really going to matter, because real estate is sales. You’re going to get told no more than you’re going to get told yes. You can’t let that kind of stuff bother you. If I send out a marketing piece to 1,000 people and only five people call me, but it’s five lock-solid clients, that’s not necessarily a failure.  I wouldn’t focus on the 995 people that didn’t respond to my mail. I’m thinking about the five that did. Really concentrate on how you talk to yourself.

You write it down and you sell it to yourself. You repeat it. “I can do this.”

Remember: Being New is O.K.

It’s okay to be new. Remember, we are talking about your first 30 days in real estate here! Get your mind right. Understand that this business is not supposed to be easy, but the first 30, 60, 90 days are the hardest part. It gets better. It gets easier in some ways. Once you start swimming in clients, you’ll have a whole mess of new problems that come along with success. Good problems, bad problems, really just different problems. More importantly, you’ll experience more success and more of the good stuff if you take the advice here and apply it to your life. You’ve got to remember this real estate thing is new to you. Don’t expect to be an overnight success. It might take a little bit of time. Be patient, be confident, and be prepared to work hard.

By the way, if you would like to watch the full video where Chris explains all of this just click right here!

Working with (Serious) Buyers ONLY

Working with Buyers

Whew, it is exhausting just to think about working with all those buyers sometimes! But in reality, helping a buyer through the homebuying process can be one of the most rewarding parts of your work in the real estate business.

However, especially as a new real estate agent, you really need to understand the difference between serious buyers and what I call “shoppers.” Check out this clip from Superstars 2.0 to see what I really think about this subject:

Mindset: Adopting the Attitude of a Winner

 

mindset success formulaMindset. One thing that comes up all of the time, especially with the questions I get about success and what it takes to be successful, is the idea of having the right mindset. Unfortunately as is too often the case the big mistake that I see people make is to go out and search for the right mindset instantly – in other words I want to know the right mindset and I want it right now! The problem with this idea of instant gratification is the concept of adopting the right mindset is a collection, it’s even a lifetime of strategies and practice and the way that you look at the world that is going to take time and practice to get right. It’s an unfortunate reality that as human beings we are predisposed to be negative. In other words – we are so good at focusing on what’s wrong rather than what’s right that it becomes a poison that affects people in all aspects of all businesses. Therefore, if you want to learn the idea of having the right mindset let’s talk about the first thing which is probably the most important piece: adopting a winner’s mindset.

Winner’s Mindset

winner's mindset

The idea of having a winner’s mindset is not simply the idea of winning and losing, or I have to win and you have to lose. Having a winner’s mindset involves the concept of looking at the world and things that happen and how you will typically react to those things differently than everyone else. In other words, it’s understanding how to view situations and how they affect you and actually steer you going forward. Therefore, rather than looking at things as wins and losses you need to start looking at things as victories or learning opportunities.

Wherever you are today if you are looking for the right mindset to become more successful it means that the place that you’re sitting in right here at this moment is not where you want to go. In order to get you there guess what? You’re going to have to leave your comfort zone and try things at a different level. You’re going to have to do things that are uncomfortable; that are new, that might be completely different than anything you’ve ever tried before! If you are getting results now that you’re unhappy with, if you keep doing what you’re doing you’re never going to get there. So the idea of the winner’s mindset is to first of all make sure you remind yourself regularly that you’re going to have to try new things and really put yourself out there – far far out of your comfort zone – to reach this true success that you’re seeking.

You Need to Retrain Your Mind

mindset-retrain your mind

When you put yourself out there not everything is going to work out. You’re going to experience failure. If you have a winner’s mindset you won’t look at things as wins and losses. Every single thing that happens is not necessarily a scoreboard moment. You don’t have to believe that as an entrepreneur you are looking at a win and loss record. You’re either going to win and succeed – or you’re going to learn and move on. You either win or you learn – that’s the art of having the winner’s mindset. It’s not that either I win and I lose and become a failure; it’s either I win when I succeed or I’m going to learn from it and move on to what’s next!

You either win – or you learn

You’ve probably heard that they say the definition of insanity is trying the same thing over and over and trying to get different results. Well, I am here to tell you that’s definitely true. So in order to get different results it means you need a new strategy and new techniques. This usually means trying something new, and well, what if it doesn’t work? Well if you are afraid to fail and you are afraid that it’s not going to work and all you’re ever going to do is stay in your comfort zone and not going to try something new because you’re worried it’s not going to work you’re never going to reach the success that you’re looking for!

Winners Look at Failures in a Different Light

Let’s use an obnoxious example to prove this point. If I came out with the iPhone in 1995 – I want you to understand that it would be a huge failure. Huge! The reason is because the world would not have been ready for the $700 cell phone that can browse the internet and make social media access very easy. I mean think about it, in 1995 there was not a whole lot of broadband internet out there and there really wasn’t any social media that you just had to check 50 times a day on your phone. People weren’t text messaging constantly, they were actually still calling each other. Imagine that! So if I invented the iPhone 1995 I could have been the greatest inventor in the history of mankind. It would have changed the world (so I thought), but the world would not have been ready for it yet. People would have laughed at me for coming out with a cell phone that cost $700. Consumers would be asking – like how do I sign into my AOL account using this phone?

What I want you to understand is even in business sometimes you’ll do things that are great, they might be great product, but the marketplace just isn’t ready for it yet. Or you might try a new style of marketing campaign, something that you’re putting out there providing value in the marketplace, and the marketplace just may not understand the value you thought you created. What you need understand is you’re going to have to try things, and sometimes they’re going to work and you’re going to win and sometimes they’re going to fail. But you – the person with the winner’s mindset – you’re not going to lose you’re going to learn! The adoption of this winner’s mindset is that you look for these opportunities to learn from the things that you did and didn’t work so that your business can grow in the future.

The Success Formula Includes Looking at the Failures as Learning Opportunities

The successful mindset, a winner’s mindset is all about looking at the world differently than everyone else. It is understanding that I’m going to have to try new things. I’m going to put myself out there. I’m going to have to really stretch out of my comfort zone in order to become the success that I so desire. I’m going to be happy about my wins and I will revel in my success, but then I also need to understand that if things don’t work I’m not a loser. I didn’t lose. I didn’t necessarily fail. I learned. And the next time I try something similar, or launch a new product, or think that I’m doing something innovative; the trick there is I’m going to make sure that I don’t repeat the same mistakes again. Adopting the winner’s mindset is all about looking at my business efforts and judging them on the results. It’s about making sure that I either win or that I learn, and so when I win I’m going to keep that in mind going forward and I’m not going to repeat the same mistakes; if they are mistakes at all. Likely they are learning opportunities, to get me from where I am now to where I want to go.

Three Hacks to Pass Your Real Estate Exam

Real estate exam or testPassing your real estate exam is no easy task. Having prepared literally thousands of real estate agents for their exam over the years, I have learned a few things. In addition, I am the type of person that believes there is a method to everything. Anything can be “hacked,” you just need to figure it out. If you want a few easy hacks to help you pass your real estate exam the first time, this is your guide!

Real Estate Exam Hack #1: Understand the Purpose of the Test

I believe that an undeniable principle to excelling at anything that is new or unfamiliar to you is to view the task from 30,000 feet. Just like flying above the scene in an airplane, if you can step back and see the big picture it helps you understand why the test is there and therefore you can prepare with the right goal in mind.

The purpose of the real estate license exam is to protect the public. That’s right, the purpose of the test has nothing to do with you being a successful real estate agent. The real estate exam is not designed to test your sales skills, or your people skills, or even measure your ability to sell real estate! The real estate exam is designed as a minimum test of competency to make sure that folks who get a real estate license actually have a real estate background before interacting with the public.

Protecting the consumer

So, keeping this in mind, what do you think is going to be important on the test if the purpose is to protect the public? Easy:

  • Real estate laws and regulations
  • Consumer protection laws
  • Agency responsibilities (fiduciary duty)
  • State specific real estate regulations

Since the reason the real estate exam is there is to maintain minimum competency and protect the public from real estate agents who don’t know what is right or wrong, the real estate exam is going to have a lot of focus on these issues. So if you want to hack the real estate exam and pass it the first time, know your laws, know your consumer’s rights, understand your fiduciary duties, and know the state specific regulations where you live!

Also see: Top 5 Reasons People Fail the Real Estate Exam

Real Estate Exam Hack #2: Study Based on The Test OutlineStudying for exam

Since I got my start in Louisiana, I will use that as a baseline to help you understand the test outline and how it can help you. In most states, there is generally one testing company or administrator who is charged with preparing and administering the real estate exam in your state. For instance, as long as I can remember Louisiana has contracted with PSI Exams in order to administer the test. In other states, for instance, this company might be Thomson-Prometric or Applied Measurement Professionals (AMP) – it just depends on whom your state agency decides to contract with to administer the test.

Typically as a part of public policy and also their state contract, your testing service will issue a test outline to show exactly what is being asked on your license exam. Of course, this outline does not show you the exact questions but what it does is show you the topic areas and how much they will show up on your exam. See an example below from my home state of Louisiana:

PSI Test Bulletin

As you can see, the outline shows you every single topic area that you need to be prepared for in order to pass the test. In fact, PSI even tells you exactly how many questions you will receive on your exam from each area. Therefore, your studies should keep the test content distribution in mind. Let’s look at an example from the PSI Exam Outline:

Financing – Salesperson (6 Items)

Real Estate Contracts – (11 Items)

What this means is that if I am a test-taker, I will get exactly 6 questions about real estate finance and 11 questions on contracts. So which one should I study harder? Contracts, of course! There are almost double the amount of questions on the exam concerning real estate contracts than there are about real estate finance.

I am not saying to ignore some areas of the test, what I am saying is to hack the exam and use your study time efficiently you should study the most what you will be asked the most about! So, if you are the type of test-taker that really doesn’t like real estate finance – or math – keep in mind how much those sections actually will impact your score compared to others on the test outline.

The test outline is distributed for your benefit – so use it and know what to study and how much to study it!

Real Estate Exam Hack #3: Don’t Overload Yourself with Information Sources

It is the year 2016 as I right this. I am a millennial. I grew up with the internet, search engines, and have lived through the rise of things like Facebook and Youtube. (shameless plug to find me on Facebook and YouTube). It is because of the amazing amount of free information available to people that I know some students are pulling real estate exam prep information from all over the internet – and some of it is wrong. Like, really wrong.

Information overload and stress…Consider the Source

It is easy to become overwhelmed when you are in real estate school. For some people, they simply have not been in a school of any sort in quite some time and the amount of information alone can be exhausting. For others, they just may have no prior exposure to real estate and you will learn a lot of things in any real estate course (at least, you will in ours). However, if you turn to the internet and places like Amazon and buy every “real estate” prep book and aide you can find – it just might do more harm than good.

For instance, have you ever been told not to believe everything you read on the internet?? Well, don’t fall into that same trap when it comes to pulling information for your real estate exam! If you have chosen a school wisely like ours at Donaldson Educational Services, you should understand that everything has been prepared for you to give you the best chance to succeed. We have done everything we can to give you all the tools to pass your real estate exam the first time! Therefore, don’t overload yourself with information by buying a bunch of crappy real estate books from eBay or Amazon. Don’t go find some guy’s YouTube that you have no idea who he is or where he is from and try and learn from whatever he is selling. Stick to the plan, you chose a school like Donaldson for a reason. Remember, we are largely judged (fairly or unfairly) by the success rate of our graduates on the real estate exam so it is in our interest to give you the BEST materials ON THE PLANET to pass the exam.

Make sure you choose your exam prep program carefully, and try to trust in the materials you are provided and don’t overload yourself with too much. At the end of the day, the real estate exam is an organized animal and with the right preparation and guidance you can pass it the first time with no problem.

Use these three hacks as you prepare for your real estate exam, and I sincerely hope you pass the first time! Feel free to comment below with any questions or general comments – I will be around to connect with you for sure.

Good luck!

Why an Expert Level CMA is Critical to Real Estate Success

In this snapshot of our exclusive Superstars 2.0 real estate training program, instructor Chris Donaldson breaks down the importance and reasoning behind having an expert level CMA (competitive market analysis).

Due to the massive amount of real estate information available to the public, having a real estate expert break down the marketplace and explain pricing and value to clients is a critical real estate skill. Whether you are deciding where to price a seller’s home on the market, or you are working with a buyer and trying to decide what to offer, the real estate agent MUST have this essential skill in order to deliver first class service.

For more information on the Superstars 2.0 real estate training program – please visit https://donaldsoneducation.com/real-e…

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Three Phrases to Eliminate as a New Real Estate Agent

real estate ideaNew Real Estate Agent “Tanking Talk”

As a new real estate agent just starting out on the journey to success, one of the pitfalls far too many agents fall into is a common pattern of what I call “tanking talk.” Tanking talk is the type of phrasing, words, or simple expression that can TANK your real estate deal before you even get the chance to show your stuff. In other words, as a new real estate agent just starting out every prospect, lead, and client is precious – therefore you ought to put as much thought into what you will say to them as what you will do for them.

Three Phrases to Eliminate “Tanking Talk” as a new real estate agent

tanking talk

1. “I’m doing this part-time”

Well why don’t you just tell that potential client that you really aren’t a real estate professional, and that you are going to treat their real estate deal as a “part time” transaction. Real estate isn’t your mistress, this is your profession! Would you hire a doctor to operate on you that does detailed heart surgery part time? Eh, probably not. So why would you turn around and tell a potential client that you only work part time? The solution is don’t say it! Your goal is to ensure the other party knows that you are a real estate professional, that you care about what you do, and that you will put full time effort into providing them the highest in quality service.

2. “I am doing real estate on the side”

Wait – you are doing what on the side? Look, very similar to #1 above you don’t want to lead a potential client to believe that you don’t take yourself seriously or worse that you don’t take their real estate deal seriously. “On the side” makes me feel like you are simply working real estate deals with anyone who will let you in order to bring in money. And hey, since I am only doing it on the side it really doesn’t matter as much to me as whatever is my main occupation. You wouldn’t want to do business with someone who only “does it on the side,” so don’t go out there and portray the same thing to others! Even if it is true, and you don’t have the client base built to quit your other job, don’t TELL people that real estate is just something you do on the side. Real estate is your profession, make sure the world knows it.

3. “I’m New”

Think about the last time you had an issue with a product or a service, you called customer service, and the person on the other end had no idea what you were talking about or how to solve your problem. You press them, you get angry, and then you hear those precious little words “I’m new.” GET ME A MANAGER!

You don’t want to portray to others that you are new and don’t know what you are doing, so simply eliminate this phrase from your vocabulary and come up with something better. There is nothing inherently wrong with being a new real estate agent, but the reality is most people want someone with experience and knowledge. Therefore, rather than just tanking your talk up front by telling people you are brand new find another way to direct a conversation and just avoid bringing that topic up altogether if you can. Remember, there is nothing wrong with being new – you just don’t need to say so every time you meet with a potential client. Make people believe you are a real estate professional, because you are – and you work full time and are dedicated! Yep, that is the ticket to real estate success as a new real estate agent.