2 Years, 50 Closings, $12 Million in Production – 3 things that I’ve learned so far:
A few weeks ago I celebrated my 2 year anniversary of having my real estate license in Waco. This is “celebrated” in our industry with 90 hours of required continued education classes, but after that, I really wanted to reflect on the amazing success I’ve been blessed with. I have worked in various forms of Real Estate since before I graduated from Texas A&M, but having a license and being entirely independent/responsible for my own income has been a learning experience that is hard to explain.
Here are just a few of the things I’ve learned:
I am extremely numbers driven – I keep a detailed spreadsheet of every closing, every commission, every expense, and recalculating my goals vs. revenue is the best motivation ever. When calculating how much my client’s purchased their home for, invested in it, and now can cash in on? That’s the best good news that I get to share. I’m not very competitive with other people, as there are so many factors that set us all apart, but I’m very competitive with myself. Having to up my goals mid-year because I have met them PLUS calculating and sharing what goals my clients have achieved at the end of each transaction? It is the best, most addictive feeling ever.
Communication is KEY – Realistically, these days the real estate process should last anywhere from 35 days to 4 months. That’s no time at all and things can change drastically and impact the sale of your home by thousands of dollars within 1 day. If you can’t get ahold of your Realtor? That’s a problem. If people want to view your home and the right Buyer is only interested/available to view it on a certain day, and they can’t get ahold of your Realtor? That’s a problem. If your Realtor isn’t giving you up to date feedback or being totally honest with their professional opinions on your expectations, that is a problem! I’ve found that I may be an over communicator at pretty much all times in life. I may be too blunt, too honest, too chatty, and too opinionated, but when it comes to real estate? It has come in handy and I think my clients appreciate it!
No – we should not list your home way higher than the market calls for and just see if we can get it, then lower it if it doesn’t work. The longer your home is on the market, the quicker it becomes old news, sense of urgency dies, or people consider that something might be wrong with it. Sometimes it is absolutely beyond the seller’s control when their homes sit a little longer and their timeline may even call for lowering the price purely to speed up the process. The market may just have too much of what their home offers in that month or their home may just require a very specific buyer that takes a minute to show up. I have a great pattern of getting my listings sold at the peak of market price potential, but I also am super honest with my clients about how clean, how empty, how updated, and how readily available their homes have to be in order to even potentially achieve that goal. Your goals are my goals, and I love to score :)