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Updated about 15 years ago, 11/10/2009

User Stats

204
Posts
187
Votes
Eric Medemar
  • Real Estate Coach
  • Grand Rapids, MI
187
Votes |
204
Posts

Tips To keep you in the Real estate game

Eric Medemar
  • Real Estate Coach
  • Grand Rapids, MI
Posted

“The Journey is as important as the destination” Keep in mind that real estate is a process that typically does not produce immediate cause and effect outcomes like many things in life. You don’t start to be successful as a realtor or an investor when you do your first deal, you start to be successful the day you start doing. Make your joy in real estate not come from the end sale, but from each successful effort toward the end goal.

There is a story of a climber who ran into another climber who was coming back from the top of a mountain. The hiker who was on his way to the top of the mountain asked “ Do you know the way to the path that will lead me to the top of the mountain” the hiker who was returning from the top said “simply make every step that you take go towards the direction of the mountain top and you will get there”.

If you are unhappy with the direction that your real estate or investment career is going then you need to change things. If you keep doing today what you did yesterday, then you will keep getting what you got yesterday. Take the time to sit down and find out what habits, beliefs, and actions got you to where you are, then change them to the habits, beliefs, and actions of a person who is where you want to be.

Be a super model. If you want to be a successful agent or investor do what other successful agents or investors do. If you want to fail in the real estate business then do what the failures do. Many times the time commitments between the two are exactly the same, what it really comes down to is what you decide to do with your time. When I was just selling real estate, I was making $100,000+ without working more than 15 hours a week. The amazing part to me is that all the agents in the office who “worked” were many times making 1/4 of what I was, yet they were working up to 50 hrs a week. They had essentially become experts at looking and feeling busy rather than experts at making money in real estate.

“Fake it till you make it” When you are talking to potential investors be sure you come off with confidence. People want to deal with successful people, but they don’t know the difference between someone who is successful or someone who acts successful. Imagine in your mind how you will feel when you have done 10-20 deals, how will you talk to people, how will you carry yourself (posture, facial expressions, tonality of voice). Once you can vividly picture in your mind how you will act when you many deals under your belt, then all you need to do is duplicate that picture in your mind.

These are all I have time for, I will shoot to add more later. Im sure the big dogs on the boards can fill in the blanks

User Stats

2
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0
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2
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Replied

Hi esnuts,

Great! It was enlightening.

I think in everything that we do, patience is important.

Success really do not come easily, it entails hard work and determination.

lady therese

User Stats

182
Posts
10
Votes
Mike Mitchell
  • Real Estate Investor
  • Lubbock, TX
10
Votes |
182
Posts
Mike Mitchell
  • Real Estate Investor
  • Lubbock, TX
Replied

Eric,
You have hit the nail on the head. I read that three times and I think I'll print it and read it some more! Amen.

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User Stats

3
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0
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3
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Replied

Real Estate and other businesses are no different.

That is why they call it business building, and not get rich quick.

Thank you for the informative post.

Joseph Ratliff

User Stats

41
Posts
1
Votes
Replied

I agree wholehardedly with your post. The whole concept of networking is key and coming across as a confident and able investor is part of the package we bring to the table. Would you really lend money to a nervous underconfident person? Of course not.

User Stats

50
Posts
1
Votes
Amy Vasquez
  • AZ
1
Votes |
50
Posts
Replied

Excellent Post! I started to copy a sentence but then realized I really need to copy the whole paragraph!

Then I read the rest of the posst and damned if I didn't need to copy the WHOLE THING. Thank you for the great post!

User Stats

695
Posts
43
Votes
Jason Hanson
  • Real Estate Coach
  • Oakton, VA
43
Votes |
695
Posts
Jason Hanson
  • Real Estate Coach
  • Oakton, VA
Replied

Confidence is probably one of the top 5 traits of all successful real estate investors. The sellers you are working with want to feel like they are working with someone who has done 1,000 deals, so you certainly must "fake it until you make it."

No one likes to work with someone who isn't confident in what they do.

User Stats

178
Posts
14
Votes
Donte Mazyck
  • Contractor
  • Charlotte, NC
14
Votes |
178
Posts
Donte Mazyck
  • Contractor
  • Charlotte, NC
Replied

you also need to find a niche, or else you will be spinning your wheels and burn yourself out.

User Stats

227
Posts
7
Votes
Robin Vidovich
  • Real Estate Investor
  • Reading, PA
7
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227
Posts
Robin Vidovich
  • Real Estate Investor
  • Reading, PA
Replied

esnuts,
Thanks for taking the time to compile what many of us may know or have read. It is important to bring it to the forefront of the mind. Your points certainly need reinforcement no matter how sucessful a person becomes.

By the was what does your user name mean???

User Stats

10
Posts
1
Votes
Maria Devereaux
  • Real Estate Investor
  • San Diego, CA
1
Votes |
10
Posts
Maria Devereaux
  • Real Estate Investor
  • San Diego, CA
Replied

Thanks for such a great post! To acquire success one must always emulate success!

User Stats

17
Posts
1
Votes
Erik Garcia
  • Developer
  • Illinois
1
Votes |
17
Posts
Erik Garcia
  • Developer
  • Illinois
Replied

Great post!

Another thing that contributes to future success are the people around you. You become, more often than not, like the people you hang around with the most. Being surrounded by successful people, you will have no choice but to be successful.

Erik G.

Account Closed
  • Real Estate Investor
  • Lancaster, OH
0
Votes |
87
Posts
Account Closed
  • Real Estate Investor
  • Lancaster, OH
Replied

No Name,

Your post reads like a newsletter.
Thanks for the tips.

Regards,

User Stats

38
Posts
1
Votes
Jimmy Rodriguez
  • Real Estate Investor
  • San Francisco Bay Area, CA
1
Votes |
38
Posts
Jimmy Rodriguez
  • Real Estate Investor
  • San Francisco Bay Area, CA
Replied

effing excellent post!!

That is what I love about Real Estate.... so much of its general rules apply to life in general. Becoming an REI has helped me in so many different aspects of my life than I ever imagined. Just to mention a few it has helped me enormously with

-Getting out of my comfort zone
-money management
-organization
-motivation

.... I could seriously go on and on.. but this is the only job i have ever had that has made me a better person. Almost everything REI requires.. it requires you first to get your life in order. I owe so much to it.

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User Stats

4
Posts
0
Votes
Simone Hardy
  • Involved In Real Estate
  • Atlantic City, NJ
0
Votes |
4
Posts
Simone Hardy
  • Involved In Real Estate
  • Atlantic City, NJ
Replied

Excellent break down. That's where I'm at - trying to figure out how to fake it 'til I make it - The "It" factor or the confidence factor is so crucial when you're just starting out which is why having a mentor can help tremendously. I'm looking for one now. Thanks for writing this.

User Stats

3
Posts
0
Votes
Ashiq Rahman
  • Alabama
0
Votes |
3
Posts
Ashiq Rahman
  • Alabama
Replied

The whole concept of networking is key and coming across as a confident and able investor is part of the package we bring to the table.

Account Closed
  • Real Estate Investor
1
Votes |
44
Posts
Account Closed
  • Real Estate Investor
Replied

Great post!

User Stats

53
Posts
4
Votes
Stephanie Barnes
  • Real Estate Consultant
  • Seattle , WA
4
Votes |
53
Posts
Stephanie Barnes
  • Real Estate Consultant
  • Seattle , WA
Replied

Wonderful post!! Thank you for this! I could not agree more.

User Stats

32
Posts
1
Votes
Tommy Giannopoulos
  • Commercial Real Estate Agent
  • Brooklyn, NY
1
Votes |
32
Posts
Tommy Giannopoulos
  • Commercial Real Estate Agent
  • Brooklyn, NY
Replied

I can really appreciate your post. Nobody said this would be easy and the only way to be successful is to get back up after you fall.

Fall 7 times, stand up 8.

User Stats

20
Posts
0
Votes
Trudy Hoekstra
  • Real Estate Investor
  • Sacramento, CA
0
Votes |
20
Posts
Trudy Hoekstra
  • Real Estate Investor
  • Sacramento, CA
Replied

Thanks for a terrific post! I am pretty new to this game, and today as I was talking on the phone I felt like such a lying hypocrite by acting all confident, pretending this wasn't just my fourth house. I guess I shouldn't worry so much about faking it.

User Stats

36
Posts
1
Votes
Dwan Twayford
  • Bailey, CO
1
Votes |
36
Posts
Dwan Twayford
  • Bailey, CO
Replied

Thanks for those wonderful tips you have shared with us here who are making it in the REI, we need those kind of motivation to get us through because I know being real estate it will really takes a lot of confidence and strategy and hard work of course, and most especially we should also enjoy what we are doing.

User Stats

3
Posts
0
Votes
N/A N/A
  • Real Estate Appraiser
  • tampa, FL
0
Votes |
3
Posts
N/A N/A
  • Real Estate Appraiser
  • tampa, FL
Replied

thanks for sharing such a wonderful post
its really nice man.............

User Stats

5,700
Posts
3,497
Votes
Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
3,497
Votes |
5,700
Posts
Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
Replied

Post was nice, but mostly general concepts that would apply in any business. Here are some I've found helpful and necessary in my 40 years in RE.
Diversify your methods
Have flexibility
And in this market and others like it, you better have creativity or you'll be out of this business in a hurry, imo. Rich.

User Stats

68
Posts
31
Votes
Shaun Steckler
  • Foreclosure Specialist
  • Lafayette, LA
31
Votes |
68
Posts
Shaun Steckler
  • Foreclosure Specialist
  • Lafayette, LA
Replied

Never ever quit, no matter how hard it gets and impossible it seems. Success is a lot closer than you think. It's easy to be good when things in your business are good.

But when things go south or you find yourself in a pinch, many times you will want to take the easy way out - just remember this idea. Never, ever quit.

When you look a back on this time in your life, even if you struggled, you will be will be filled with satisfaction.

Never quit during the struggle - the struggle makes us all stronger if we allow it to.

User Stats

3
Posts
1
Votes
Arlene Hinton
  • Real Estate Investor
  • Gulfport, MS
1
Votes |
3
Posts
Arlene Hinton
  • Real Estate Investor
  • Gulfport, MS
Replied

This post really helps me put things into perspective. Thanks alot for sharing the knowledge.

User Stats

181
Posts
29
Votes
George Bloom
  • Hard Money Lender
  • West Palm Beach, FL
29
Votes |
181
Posts
George Bloom
  • Hard Money Lender
  • West Palm Beach, FL
Replied

What a wonderful post. When I was weaned in the ways of real estate as a salesman then eventually a licensed broker in NY during the 70's the most important thing I learned from one of our syndication clients is that perception is everything.

If your audience believes you are successful then you are successful. It's as simple as that.

Of course you also had to be able to perform whatever it was you advertised you could do, but the first challenge was to ge people to believe in you.

Never forgot that lesson, it is true to this day.