Are You A Sales Person Or An Entrepreneur?

Real Estate Marketing Dude

Over the next 12-18 months we're going to see who's a sales person vs an entrepreneur. With commission compression and NAR lawsuit, outside sources are doing everything they can to eliminate the need of using a real estate agent or lender. It's in times like these that HUGE opportunities come up, it's just a matter of whether or not you see them. My predictions over the next few years is that agents or lenders will pivot in ways we don't even know about yet, but however they do it, they will be wearing their entrepreneur hat. A long term career in real estate or mortgage will involve you thinking long term, not short. On this week's podcast we bring in business expert, Jen DuPlessis, where she shares the fundamentals in letting go to grow. There are going to be some hard choice everyone needs to make, but it's going to be those choices that will be the difference between success and failure. Consumers Expect More From Their Real Estate Agent Roughly 1 in 5 people regretted hiring an agent and wished they did it on their own! Yes folks, 19% of home sellers surveyed regretted using an agent. This isn't a real estate problem, this is an industry problem and the exact reasoning behind why all of these "let's cut the Realtor out of the equation companies" are growing. Lack of value is the industry's problem right now. I believe that the answer to this problem is rooted to how we, as real estate agents, view our occupation. Are we sales people or business people? There is a major fundamental difference between the two and we now face an option as to how to respond to the the increased competition and the "less expensive" options. The public is speaking up and telling the industry to shape up or ship out! We aren't entitled to a 6% commission! We aren't entitled to be involved in a transaction! We need to earn it! The public doesn't want more real estate sales people. They want more real estate problem solvers. If the industry as a whole began to teach agents to run their practices as small business owners vs. sales people, I believe we will redefine the value a good Realtor brings to the table. The reason for this is simple. Sales people play the short game and business owners play the long game. Let's start off defining the main difference in motivation between the two. A sales person, by nature, is motivated by closed sales and personal gain. A business person, by nature, is motivated by creating and maintaining the best product or service that can become salable at some time. Let's use these questions to spell out the difference in mindset the two may have. You can then use this questions to analyze your own business. 16 Questions That Determine if You're An Entrepreneur vs A Sales Person Here is a list of 16 questions on how you view, market, or run your current business. The answer to these questions will determine whether or now you are running a business or just another sales person chasing a check. 1. Do You Have A Database? A business owner has a database they consistently market. They view their relationships as future business and make staying in touch with their network a priority. They most likely have an email or direct mail list to keep in contact with network. Over 60% of business comes from referral or past clients, but it's impossible to attract when you're not top of mind. A sales person doesn't care to keep track of a database. If they have one, it's on a spreadsheet or CRM, but nothing is actively done with it in terms of consistent communication. A sales person does not consistently stay in touch with past clients. NOTE: If you are having trouble marketing your database, sign up for Referral Sweet. 2. Do You Have A Website You Own? A business owner has a website they fully control vs one they lease because they are playing the long game. A business owner constantly invests in working on their website always looking to improve or add value with it. A sales person may also have a website,