phil is a real estate agent who is well qualified. This is a topic that many people are looking for. bluevelvetrestaurant.com is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, bluevelvetrestaurant.com would like to introduce to you Top 3 Reasons Why People Quit Real Estate. Following along are instructions in the video below:
Three reasons. Why people quit real estate. So if youre first getting started would wouldnt it be good to know why people leave the business.
Youre looking get into and if you are on the verge of quitting you definitely to watch this video because real estate is a transient business. Yeah makes a ton of money for some people. But for others they leave in this video youre going to find out why hi.
Im phil booth kiosk is freedom intercom. Im a full time real estate investor real estate mentor and coach to many of the most successful real estate investors all across north america best selling author of two books. My first book how to be a real estate investor which i give away for free up here on this link also my newest book real estate investing gone bad.
This tells you what not to do also this is the number one youtube channel on real estate investing worldwide. And theres a reason for that and just last couple of years over 15 million views. Thats because im sharing information.
They can find nowhere else ive been in this business. Over 15 years. Ive been a part of will over 2000 deals.
I have seen pretty much it all and when it comes to real estate. Its transient people common people go when i first got started the vast majority of real estate agents mortgage brokers other investors all those people theyve gone and left theres a relative. Few that are still around when i first got started and of course.
The one theyre doing the best so theyre going to find out why theyre quitting the number one reason is not what you think wrong expectations expectations can be so dangerous in life expectations. The main thing is people expect to make money quickly. And i know theres a lot that say i understand phil real estates not a get rich quick scheme.
Its not obviously. But they think hey look i put in about a good solid month to work if i dont get paid and obviously. This business is not for me look.
30 days is an incredibly short period of time in real estate. If youre first getting started. It can take months and months and months to get your first deal now.
If you knew everything that you needed to know if you are intelligent in this business as i am. Then you could maybe shortcut that a little bit. But look there are so many factors and this is something you need to remember write this down real estate is about big paydays and long pay delays write that down big paydays and long pay delays.
So if youre expecting to get paid quickly when you first get started those expectations are going to be ruined in fact i want to take this a step further and mention a book by viktor frankl called mans search for me its a very intense book where he as a psychologist or psychiatrist. He is in a concentration camp during world war two and he is making notes on his experience and heres what he discovered. There is plenty of people in these camps that had this attitude.
This expectation that they were going to be out by christmas. So they were going to be released from the concentration camp by christmas well christmas would come and go and they werent released yet and many of those people passed away now none of them are the ones that went to the gas chamber. They just literally passed away starvation thats what they mean while others who looked at the same situation.
Didnt say and expect ill be out by christmas instead. They said. This is horrible.
This is heinous this is the worst that humans could ever be to each other and i dont know why im in this i dont know why god would put me through this. But theres got to be a reason those are the people that survived thats an amazing lesson from that book and how that applies to this business. Because were not talking about something quite as morbid as that is the idea that you need does not set expectations.
But instead you can set goals and if you dont reach those goals in the timeframe that you had allotted thats fine you can look and say okay. Why didnt i get there all right what can i adjust what can i change so having the wrong expectations in this business can be catastrophic. Its the main reason.
Why people quit you have to have more of a goal mindset youre rid of expect and think. This is where i want to accomplish if you dont get there then at that point you can reassess and figure out what you do differently all right number two this one youre not going to expect either then again this is a big one real estate is tough my mentor used to tell me fill real estates not for sissies when he meant by that was real estate can be tough no. Its not physically tough right youre not going into the octagon.
This isnt the ultimate fighting championship. This is mental and emotional if anything as far as intensity and thin skin are people that can get offended real easily and are letting other people push them around and theyre kind of like a doormat well those kinds of people if theyre not willing to grow thick skin has no business in real estate. Thats right.
I just told you that so if you get pushed around a lot. And you have no plans of getting tougher in life. If you are expecting to stay that way dont get into real estate.
Because ages investors title companies you name it theyre all going to push you around especially real estate agents. I got a quick story this happened just this week. So i got a property on the mls.
I have my assistant listed. Shes also a licensed agent and the patient calls and says whoa. This is this is not zoned for a triplex and this agent just rips into my assistant you cant do this and veteran turned this against these rules and shes going crazy to which my agent goes.
My assistant goes actually it is zoned as multifamily it can be a triplex and she goes no its not and then my assistant goes you can look it up so she looks at that for the woman goes okay well maybe this but youre in the community redevelopment zone. Im on the board of directors militant and she goes crazy again on my assistant. My assistant goes since youre on the board of directors for the community redevelopment area.
Then you probably of all people with nowhere to get your hands on the map for that because this property is not in the community redevelopment area. And maybe you can look that up and the woman. I guess whats in front of her computer.
So it shows okay maybe maybe thats right. But i mean this was going on and for a while and finding my citizen. Why are you treating me this way i have a curiosity because youve been threatening me.
But frankly if anything youre the one that is breaking the code of ethics as a realtor by treating me this way youre not supposed to do that as you as well. Im just trying to get the best deal for my client. Thats all there you go.
And that is a microcosm for this business. Theres a lot of clashing going on everybody is jocking jockeying for position because theyre all trying to get the best deal for you themselves or whoever theyre representing. So you cant take it personal.
Its just part of the business. You got to have thick skin thin skin is why a lot of people quit. Ive watched it over the years now.
I did have two skinny ones that you can believe that i would such a once and im such a pansy. But over time i got tough i might like my skin thickened a lot of experiences in real estate. Got me tough and so now i mean being tough doesnt mean youre jerk at all you can be kind and respectful.
But being kind of respectful. But dont let people push you around and so thats another reason why people quit and if you are willing to accept the fact that youre going to have to develop thick skin. Then you can be great in real estate.
Doesnt mean you have to be a jerk. But it does mean that you cant allow people to push you around because theyll try it if you dont know let them if you dont let bullies push you around real estate. They wont dont move on to other people theyll dont realize that youre tough and smart enough.
So you know what im not going to try any more games. With this person because they arent going to act. Theyre doing okay number three just one is obviously the most obvious muddy.
People quit. Because of money issues. The first one is that they lose money on a deal.
Okay. That is absolutely unacceptable unacceptable in real estate to ever lose money okay. So obviously ive already mentioned the fact that ive got this book real estate investing gone bad that can help you with things not to do i also have some other amazing videos number one reason.
Why people lose money in real estate. Ill put that link up here thats a great video that shares the lesson on making sure you have plenty margin of safety. If youre putting your own money into a deal also ive got a great video on seven reasons.
Why real estate esthers fail. Ill put that one up here as well you make sure you steer clear of those seven items as well. Ive got another video on this topic called the worst way to invest in real estate.
I got that one right up here so back to back to back those are three videos you can pause this video go backward. If you need to go click on each one so ive got some quick resources to help you dont ever lose money you shouldnt thats ridiculous. This is real estate.
The second one is no money now this one happens a lot with beginners and what theyll do is they will take advice from friends and family that have no idea about the business and theyll give it a try though dabble a little bit in a month. Later they havent made any money and this is what they say oh that doesnt work around here. Yeah that just you know it may work were still limps.
But it doesnt it doesnt work around here boulogne this business makes so much money for some people. I dont care. Where you are there is always money being made right in your own backyard.
Always some people are making the killing right now so you cant use the fact. That you havent made money as an excuse that the business doesnt work. Im surrounded by people and all different facets of real estate.
That are making a killing whether theyre buying 75 million dollar commercial properties or theyre flipping little houses in the worst parts of town. There are so many ways to make a killing or knows. Its such a great business.
You can make so much money that that should never be an excuse this this is lack of education. This is making mistakes you shouldnt make this right here is usually because of excuses and not being able to execute know what youre doing and i guess the third one is not enough now this one i havent seen almost anyone in this category right here. Because once people take the kool aid of real estate.
Making money. They dont go back. They love it because like what i said begin the video.
It is big paydays and long pay delays. So when you make those big big paydays thats when it gets real exciting is you realize why i can make fifty thousand dollars. On one deal.
I can make a hundred thousand dollars on one deal thats more than most people make in a year. So money can be a big driver for why people quit. But that shouldnt be the driver be the business is so good.
If you want to learn how to be a market leading absolute money making machine in this business. Consider applying for my apprentice program thats when my team and i worked with people step by step hand in hand and we turn them into absolute professions in this business. You can be successful.
If you want to be the business is there for the taking now if you cant get into my apprentice program. I got another really cool feature up here. Ill put a link to it it is a video course like over ten hours of videos on exactly how we do this business now i dont tell you every secret.
But i give you enough so you understand what were doing and how were doing it check out that course that is a creative real estate investing and flipping houses. So either way youve got plenty of resources after watching this video. And if you are considering quitting right now.
This is my last part of the video. I would encourage you to not dont give up dont ever give up on this business. Because every new experience is a new distinction and if you stick to it long enough youre going to be very thankful.
You did anyone who stuck around the real estate. Long term has all been very very happy with the results. The money is huge the experiences are fantastic once you get it dialed in so dont give up dont ever give up what there at the time.
And i wanted to give up can you imagine. If i would have given up on real estate. Millions and millions and millions of people would not have been able to benefit from what ive been able to share through these trades.
These videos dont give up dont ever give up alright. Im still boost the options freedom mentor calm. I hope you enjoyed this video.
If you got questions comments put those down below this video. I try to carve out time out of my schedule to answer those. And what are the three reasons.
Why people quit wrong expectations. But were going to get rid of that all together with our meet expectations. We can set goals number two were going to develop thick skin really get tough.
I can let people push us around and number three. When it comes to money execute correctly. And this will not ever be a problem.
This will never be a problem. And ive never seen that to be a problem because in real estate. When deals closed money is made alright thanks.
So much for youll see in the next video. .
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