The Secret to Being Successful in Real Estate - The 5 Things You Must Have

The Secret to Being Successful in Real Estate

The 5 Things That Everyone Needs

It is Easier Said Than Done

Thousands of hopefuls, every year, apply and sign up to get their Florida Real Estate License. It’s not so much that they have a dream to get their real estate license, it’s more that they have a dream to quit their job and start making a million dollars selling real estate and have a lot more free time and vacations at the same time.

Only about half of the applicants pass their state exam every year. Florida is welcoming about 27,000 to 28,000 new Real Estate Sales Associates every year. 

At the end of 2019, there were about 201,300 active Sales Associate licensees, 81,000 voluntary inactive Sales Associate licensees, 22,000 involuntary inactive Sales Associate licensees, 21,600 active Broker Associate licensees, 5,500 voluntary inactive Broker Associate licensees, 1,700 involuntary inactive Broker Associate licensees, 30,000 individual active Broker licensees, and 3,200 voluntary. inactive Broker licensees. 

This is approximately 366,300 individuals who have real estate licenses and are trying to get prospects and customers. If you believe in the 80-20 rule or the Pareto Principle, this now means that only about 73,000 to 74,000 or 20% will actually do anything significant and make real money. 

Are there any common factors to their success? YES! 

Here are the 5 most important factors to your success in Real Estate.  

1. You must have Goals Write down your goals. 

At the very least, you want 1-year goals and 90-day goals. If you do not know where you are going, you will end up somewhere and it will probably not be where you wanted nor intended. Hint: ‘More money’ is not a goal, it is a wish. 

After this, try creating and writing down your 5-year goals. Ask yourself a question: Think about where you are right now with your life. Where do you really want to be in 5 years? It is tough facing your own reality, but it will be worth it. 

2. You must have a Plan You must have a written Business Plan that maps out your steps on a daily and weekly basis. Hourly is preferred. You get so much more done when you know exactly what you are going to do that will get you to where you want to go. 

3. You must have Training Even though The Climer School of Real Estate is the very best at training our students to pass the Florida Real Estate State Exam on their first try, we tell all of our pre-license real estate class students that we are not teaching them anything about the real estate business and actually making money. You have to have training. It is surprising how little people really know after their real estate pre-license class. 

4. You must have Inner Commitment and Perseverance This is the one factor that cannot be measured. It is possibly the most important factor to success. Intelligence, brains, strength, looks, athletic talent, musical ability; none of these are as important as Commitment and Perseverance. 

Only you know the depths and level of these two things inside of you. No matter what, do not quit. 

5. You must have Inner Positive Energy and Thoughts Positive energy and thoughts attract positive things and people into your sphere and life. If you are a negative person inside, smiling on the outside will not change your inner energy. 

If you are angry, hurt, distrustful, mean, hurtful, feel entitled, and so on; you may want to see a therapist and do what you can to purge the hurts and negativity that is residing inside you. 

Nothing will change if you do not. Everything will change if you do.

The Climer School of Real Estate may be the happiest and most fun real estate school in Florida. We have so much fun in class and with our students. There is always a lot of laughing at our school. 

Every once in a while, we get a one-star review and to be honest, it hurts our feelings. They always seem to be from a negative and mean student that most of the other students complained to us about. They had to give us that review to feel better about themselves instead of taking responsibility for their experiences. 

Again, it does hurt our feelings when a student works to go out of their way to try to hurt us and say unkind and untrue things. “See Number 5.” 

Every single one of you can be in the top 20%. Make the decision to make it happen.

 

Since 1984, The Climer School of Real Estate

If you want to get your Real Estate License, then you want to take a Real Estate Class with The Climer School of Real Estate. We are considered to be the Best Real Estate School in Florida. We are the only school in Florida that uses the PASS F.A.S.T.™ System & Technology that trains our Adult Students to pass their multiple choice-based state exams faster and easier. The PASS F.A.S.T.™ System utilizes NLS™, Neuro-Linguistic Sublimatics™ that helps you remember what you need to remember at Pearson Vue more easily.

We have a variety of locations and schedules in the classroom and live streaming. We also have creative online real estate class study aids. There a many real estate schools to choose from. Choose the best, don’t settle, and find out what thousands of successful and happy students already know. Discover the Climer School Difference for yourself.

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Florida has a lot of Licensees but the Real Estate market looks Positive!

The Number of Licensees vs the Number of Sales and the Future of Florida’s Real Estate

Thoughts from Andy Brown and The Climer School of Real Estate, the Best Real Estate School in Orlando

Quite often I am approached by my students in a class with this one specific question:

“With all of your experience, can you tell is going to make it and who isn’t?”

My response is always the same. “ There are a couple here and there that I have a feeling about. There’s a couple in every class that I feel are going to be very successful and there are always a couple that I feel don’t stand a chance and should not be here. However, I believe very strongly in the Pareto Principle otherwise known as the 80/20 rule.

I look at every class and I know that approximately 20% of them will make approximately 80% of the income and be successful while approximately the remaining 80% of them will be fighting over approximately the remaining 20% of the business”.

The Pareto Principle

I just believe that strongly in the Pareto principle. It’s always there, in everything.

By the end of 2016, according to the most up-to-date numbers from the Department of Business and Professional Regulation (the DBPR) there were 173,957 active sales associates, 19,830 active broker associates, and 39,781 active broker licenses in the state of Florida.

This adds up to a total of 233,568 total active real estate licensees.

According to the Florida Realtors®, there were around 165,000 licensed members of which 74% were Sales Associates or Broker Associates. This means that around 122,100 licensed members were not Brokers.

Also, according to the Florida Realtors®, $78.9 billion in sales transactions were closed by Realtors in 2016 on 268,731 closed sales.

Let’s dissect this for a minute.

Using the Board’s numbers, and if you believe 80/20 rule as I do, this now means that 24,420 licensees (or 20% of all active licensees) earned 80% of the available commissions and closed 214,985 transactions, and the other 80%, or 97,680 licensees, fought over the remaining 20% of available commissions and closed on only 53,746 transactions.

Even better, in $78,9000,000,000 in sales and assuming a 6% typical commission in a transaction as an average, this generated $4,734,000,000 in total commissions. If we assume an average split of 80% (many are 100 %’ers, many “cap out”, etc.); this created $4,260,600,000 in payable commissions to associates in 2016.

Let’s break that down to the individual. The 80/20 rule now says that on an average, the top 20% of licensees who are a member of the Florida Realtors®, or 24,420 of you, closed on a total of $3,404,480,000 for an average of $139,600 each. The remaining 80% of you, or 97,680, closed on $8,724 each.

I like to take another 20% out of each because I believe that there are always 20% who aren’t doing anything at all.

This takes the numbers to $174,500 per person for the top 20% and $10,905 per person for the lower 80%.

So, first, anyone can be in the top 20%! You need a plan of action, and you need to commit to working the plan. Find a coach and a mentor.

Second, this is still a fantastic time to get into the Real Estate Business.

In his “Florida & Metro Forecast 2016-2019”, Dr. Sean Snaith, nationally renowned economist and current UCF Director of the Institute for Economic Competitiveness, writes that, among other things, 

• Florida’s labor force will grow at 1.8% per year • Professional and Business Services will have the strongest average job growth at 5.8%
• New Housing starts will begin to accelerate and increase year to year but not enough to match demand and,
• Real income growth in Florida will increase year to year and exceed the national growth by 0.8%

He also wrote “The fundamentals of the housing market in Florida continue to strengthen.”

Across the state, the number of people employed by the Real Estate and Housing market will increase from 182,600 in 2016 to 192,900 by the end of 2019.

In the Orlando-Kissimmee Metropolitan Statistical Area (MSA) alone; Dr. Snaith estimates that there will be 13,444 new single-family housing starts, another 13,514 in 2018, and another 13,649 in 2019.

As more and more people move into the state, especially into central Florida, more and more business and industry growth, and the new home builders are happy and keep building, Real Estate as a career will continue to change people’s lives. I haven’t even talked about the commercial nor the time share sector.

If you aren’t making enough money in your real estate career, consider looking in the mirror. A massive change is only one thought, one decision, one action away.

The Climer School of Real Estate is the Best Real Estate School in Orlando

Since 1984, The Climer School of Real Estate is The Best Real Estate School in Orlando. If you want to have the best chance possible of passing your Florida Real Estate Exam on your first try, then you need to attend classes at The Climer School. Call us at 407-822-3926 (EXAM), or stop by our website at www.ClimerRealEstateSchool.com . We have the Best Real Estate Instructors in Orlando