Real estate agents need at least a dash of entrepreneurial spirit if they hope to maintain a successful business. Here are six ways to see if you’re a true entrepreneur.
One of the hallmark characteristics of any truly successful real estate agent is a natural inclination toward entrepreneurialism, which shouldn’t come as much of a surprise considering that most Realtors work as independent contractors. The internal drive and ability to stay motivated even when the market isn’t performing as well as you’d like is paramount to any sustainable business, and its what brokerages should be looking for when they bring on new agents.
It can be difficult to spot a true entrepreneur from a pretender, but you can look for these qualities to help you make the discernment:
1. They’re willing to make changes – A true entrepreneur is not beholded to something just because “that’s the way it is.” They’re innovators, willing to experiment with formulas until they discover the perfect combination. If entrepreneurs run into a hurdle, they surmount it.
2. They’re problem solvers – It might be something small like finding a property with a waterfront view, or something large like additional financing options, but whatever the challenge, entrepreneurs are the first to be on it. They love not only solving problems, but finding the problems that need to be solved – even if nobody else consider them a problem to begin with.
3. They want you to win – When you think of a successful businessperson, Hollywood films make it easy to conjure an image of a fat cat in a sleek business suit with a thousand skeletons in their closet and a thick cigar hanging from between their lips. That’s the typical business bad guy. In reality, however, true entrepreneurs are not politically motivated, and instead prefer that everyone win. They want to be recognized for their good work, of course, but at the same time they don’t want their victories to preclude those of another. They appreciate both hard and good work, no matter where it comes from.
4. They’re self-aware – A successful entrepreneur is only successfully because they had the wherewithal to evaluate and revaluate themselves and their work constantly. Good work tomorrow means doing better than today.
5. They like lighten the load – Entrepreneurs don’t like to waste time on trivial matters. They don’t like to crowd their schedules with things that, when you get right down to it, simply don’t mean all that much to their own betterment. As a result, entrepreneurs tend to systematically eliminate daily time-wasters by creating routines. You’ll often see them wearing similar clothing and eating similar foods, but that doesn’t mean their beholden to those habits. If they see an opportunity for improvement, they’ll take it.
6. They love input – Entrepreneurs are not ruled by their egos. They don’t cringe at the sound of criticism. Instead, they embrace the feedback. Entrepreneurs love to learn and improve upon themselves and their practices, which can be especially impactful in real estate where agents deal with clients on a daily basis.