6 Common Myths that can Prevent Real Estate Agents from Achieving Success
Many past “beliefs” that were regarded as “truths”, were actually “myths” and later proven to be “false”. Even in this age, the same old skeletons still exist in many closets: what some people regard as “truths” are actually “myths” and have been proven to be false by those who discovered something new or succeeded where others failed or hadn’t yet succeeded.
Any real estate agent who wants to achieve success should base their beliefs on truths instead of myths; if they do so, their actions would have a strong foundation and be more capable of producing satisfying results and success. Some real estate myths—which some real estate agents regard as half or complete truths—usually tend to create unfounded fears and a life of unnecessary limitations during real estate practice.
Before we look at six common real estate myths that have prevented and can still prevent some real estate agents from achieving success, it’s important to be reminded or informed that history books are filled with many examples of myths that held people back and prevented them from knowing the reality of certain things.
During a period of time in the past, it was widely believed that the Earth was the center of the Solar System; Galileo was imprisoned for declaring that the Earth and other planets in the solar system revolve around the Sun and, instead of the Earth, the Sun was the center of the Solar System.
Until Christopher Columbus made some arguments to prove the Earth was round, many people were ignorant and held to their ignorant belief that the Earth was flat; his proof forced his audience to accept reality instead of continuing to believe in a myth that was far from reality.
The stories of Galileo and Columbus are two examples that show how people could ignorantly believe in myths, falsehood or false statements until the truth sets them free: for thousands of years, many people believed in false myths regarding the Solar System and Earth until the bravery of Galileo and Christopher Columbus set them free from their ignorance which could have even lasted much longer.
“Fears are educated into us, and can if we wish, be educated out”—Dr. Karl Menninger.
Some myths can stand in the way between any individual who believes in “myths”, and the type of success they are looking for. The following are six common real estate myths that have prevented and can still prevent some real estate agents from achieving success:
1. “I have a genuine aim but realize it’s negative”
Contrary to this real estate myth, the truth is that what should be realized as negative is having an aim without ever making any efforts or attempts to achieve it. Every genuine aim in real estate is positive, except if a real estate agent turns it into a myth and makes it become negative.
When any real estate agent who initially had a genuine or positive aim encounters the first failure, a challenge, or a few failures, they could mistakenly assume that in order to succeed, they have to avoid challenges or failure(s); as a result, they create a myth that their original aim is negative.
The problem with this type of myth is that it could make a real estate agent develop a habit of actively avoiding failure(s) and challenges. In most instances in life, no one will be able to acquire consistent success if they always avoid failures. Usually, a person becomes a failure by consistently avoiding failure; on the other hand, a person becomes a success by facing failure head-on until they conquer it.
Change your perspective on failure: the only time you can fail is when you actually quit
Many people have to change their perspective about failure before they can succeed. Every successful person usually experiences failure(s) before they ultimately succeed. Some people let their failures stop them from trying again and again, while other people decide to view failure as a learning experience rather than defeat; for them, failure provides another chance to experience success and their achievements or outcomes are determined by what they believe in.
Each time you try to achieve a dream but fail, you would have learned a lesson on how to alter or eliminate an approach to doing something the next time you try it. Failures serve as stepping stones. Always remember this: the history of successes has proven that each person will likely fail one or a few times before they succeed.
If Abraham Lincoln had quit in 1858 after previously failing in business and legislature, and suffering a nervous breakdown and several defeats at the polls, he wouldn’t have become President of the U.S.A. in 1860 and be remembered as an honored statesman.
Lincoln kept on trying despite having experienced many tough defeats. One important message history always tells us is that failure almost always occurs before success. There too many examples that prove this; one popular example is Mark Victor Hansen whose book “Chicken Soup for the Soul” sold more than 500 million copies worldwide—over the course of many years—after it was rejected by more than 30 publishers.
Another popular example is Thomas Edison who failed a thousand times before successfully inventing the electric lightbulb; what would have happened if he had stopped after the 999th failure? Probably, the lightbulb wouldn’t have been invented if he had decided to quit. Dr. Seuss’s (real name “Theodore Geisel”) work was rejected 27 times before he finally found a publisher.
2. “I will lose something or everything because it’s too risky”
In many cases, this real estate myth is a barrier to climb some steps for success in real estate investing. The truth is that the risk an individual or real estate agent faces is usually proportional to their ability to ensure that each additive or incremental cost they incur produces a corresponding additive result before they incur more costs to continue making long-term profits.
Top real estate agents know how to handle risk when the end result of any investment strategy is unclear or uncertain; also, they know how to hold their investments or costs accountable for results or profits, and massively minimize risks because they understand when to halt and when to continue, or when to increase their investment or expenses to accomplish goals.
Instead of throwing everything in at a go and complicating the whole real estate investing process, agents should safely make investments in bits, scrutinize the results they get, weigh their returns, and not spend a second time until they’re sure the first expenditure has produced profits or results! A real estate agent can greatly reduce the risk associated with incurring costs or expenses if they understand when it’s time to halt and continue.
3. “It will take my freedom and require too much of my time and effort to achieve it”
This is one of the greatest flawed real estate myths that people usually fall for; the truth is that freedom, time, and effort are not the determinants of success. Some real estate agents believe that to become more successful, they have to lose part or all of their freedom, waste a lot of their time, and make more effort than usual.
Except an individual decides to lose all their freedom and waste their time and effort, it’s not necessary to do so to succeed. Many highly successful individuals and real estate agents have proven that one doesn’t have to lose their freedom and waste their time and effort before they can be able to achieve success.
Depending on the strategy employed, an individual can put in sixty hours each week and make $100,000 per year. Another individual can put in the same sixty hours each week and make $500,000 or even a million dollars per year; still yet, another individual can put in the same sixty hours or less each week and earn several millions per year and experience no limit to their earning potential.
A real estate agent should always do the best they can with their time, and be devoted to their business; however, when they get to their limits, they have to add leverage in order to progress to higher levels of achievement. In many cases, they may have to employ more people or delegate authority and responsibilities to other staff or colleagues so that delivery and profits can be ensured, and standards can be maintained or raised.
4. “I won’t be able to achieve it”
This real estate myth is widely accepted by real estate agents who feel that it’s unrealistic to think or talk about achieving some high or outstanding levels of success. The truth is that until you try to achieve something, you can’t possibly know whether you would or won’t achieve it; even if you aren’t able to achieve it at the moment, you could be able to achieve it if you find out how to address any challenge or failure.
Except you hear personally from your Creator, it’s not even advisable to entertain any myth or thought that tries to persuade you into believing that you “won’t be able to achieve it”; this myth should never ever be considered.
“Whether you think you can or think you can’t, you’re right”—Henry Ford.
Whenever you say you won’t be able to achieve something, you’re automatically directing your energy to start limiting your potential. No matter what challenges or unfortunate circumstances you are facing at any moment in time, whenever you are setting out to do any activity, always have the belief that you might just be able to succeed in doing it.
Top real estate agents who achieve outstanding levels of success understand that the very first step to achieving something is by trying instead of quitting or ducking. The truth is that, until you try and don’t give up, you can’t really know what you’re capable of doing or achieving.
Don’t assume that the worst thing in the world has happened just because you made one or a couple of attempts but didn’t achieve your goal; the worst thing happens when you don’t try or make any attempt to achieve your goal. Many people have given up and not realized their dreams because a myth—“I won’t be able to achieve it”—made them to be unaware of how close they were to success. Always try, keep trying, and never giving up!
5. “It cannot be done in my own real estate market”
This myth has held many real estate agents hostage and is false because it can be done in your own real estate market if you try another approach that’s different from the one that has failed in your market but is surprisingly achieving results in another market or other markets.
Based only on assumptions, some real estate agents believe that certain things can only work elsewhere—in other markets—but cannot work in their local market. The truth is that once something has been done in a market that’s different from yours—no matter where—you can model around its success and find out how it can be applied in your market to get desired results.
Even if it hasn’t been done elsewhere, no myth should be used as an excuse that “it cannot be done” when in reality, no one has found the right way to make it work. Your real estate market could actually be waiting for someone to make the first step and try any new approach, or any old approach that has proven to be successful somewhere else.
Although it is true that each market could have different determinants and variables, how a real estate agent implements their scheme or strategy will always be the key determining factor for success.
Some real estate agents either cannot do certain things in their market or cannot do much more than they are capable of doing because their strategies or plans are stuck to one or a few things—like listing, deals, etc.—instead of diversifying into many more.
6. “I’m the only real estate agent my clients will work with”
This real estate myth is far from the truth, especially when some real estate agents who believe in it lack standards. The truth is that clients just don’t stick around an agent without having strong reasons for doing so; usually, clients are loyal to agents who have lofty and admirable standards.
Each real estate agent has a way or manner that they use to deliver their services; their way or manner represents their brand, while their services are by-products of their standards—i.e., the standards they represent.
No matter what services an agent provides—whether it is by acquiring information about properties, scheduling interviews with buyers or sellers of properties, or carrying out any major duties of a real estate agent—the way it is organized and executed should be at a high level and have high standards that will make clients satisfied.