CampaignAgent sat down with Australia’s number one real estate coach and trainer, Tom Panos, to discuss his top 5 tips to avoid failure.
Don’t Let Your Ego Takeover
Those first few years as a listing agent can be brutal. Your Gross Commission Income is about the same as minimum wage and you’re fighting to survive pay check to pay check.
It’s important to remember that when you start to make the big bucks, learn to use the brakes before you start buying new suits and upgrading your car. Don’t start acting like a big shot when you start to become successful!
Don’t Let The Market Fool You
One of the most common mistakes I see agents and principals make is using their Gross Commission Income (GCI) are their KPIs. The truth is, when the market is good, it’s good for everyone – not just you!
Set the bar higher for yourself and compare your market value from 12 months ago versus your market share now. When you believe it’s all you, you’ll stop doing the things that made you successful in the first place. And that’s a dangerous situation.
Don’t Stop Setting New Goals
Someone wise once said “nothing breeds failure like success”. When you start seeing more money coming into your bank account, don’t forget the skills that made you successful in the first place!
Tenacity, grit, and the willingness to do a great job are the key skills that will not only make you successful but keep you successful. Never stop setting new goals for yourself and reaching new personal bests.
Don’t Get Stuck in a Bad Situation
At some point in all of our lives, we’ve either been stuck in a dead-end job, or we’ve been working for a bad boss. Don’t become complacent throughout your career because a negative environment will wear you down eventually.
You can never win while working in a bad environment – it’s exhausting, and your mental health will suffer while your career doesn’t progress.
Don’t Let Stress & Anxiety Run Your Life
There is a lot of pressure working in real estate. You’re managing the concerns of your vendors, while trying to reach the next sale so you can balance your cashflow.
Everyone deals with stress and anxiety at some point, but don’t let it take over your life. Make sure you’re taking care of your mental and physical health, and always prioritise things that will help you cope in times of stress.
If cashflow issues have been keeping you up at night, one thing you can do to worry less about money is partnering with CampaignAgent. They’ll provide capital for VPA, and can even advance your commission entitlement.