Real Estate Success Formula SOUL’D Chapter 3: TENACITY
Tenacity–old-fashioned sitck-to-it-ness–is a great character trait in all areas of life. If you want excellent real estate results, whether you are a Real Estate Buyer, Seller or Real Estate Professional, you must have tenacity.
At a real estate conference this past fall, many San Francisco real estate developers discussed the urgent need for more housing to meet the skyrocketing demand In the past year, there had been a whooping 69,000 new jobs and only approximately 700 new housing units. A surplus of buyers such as this creates a “Sellers’ Market” where each property will get many offers.
In this case, real estate buyers will have to be tenacious and pay a high price for what they want.
But they also need to look at the long-range perspective of owning: the tax benefits, San Francisco’s high appreciation rate, and the emotional rewards of owning: not to mention the convenience factor for those living in or near the city where they work.
In a Real Estate Buyers’ Market, where there are few prospects and lots of inventory, the opposite is true—it is the Real Estate Sellers who need patience and persistence.
In my new book, Getting the Property SOUL’D: A Breakthrough System for Successful, Stress-Free Buying and Selling I dedicate an entire chapter to tenacity.
This important quality of tenacity applies to all three parties involved in real estate transactions—Real Estate Buyer, Real Estate Seller and Real Estate Agent.In this chapter I explain that as Realtors, we need to get our clients, buyers and sellers alike, to like us and connect to us. We accomplish that communication and chemistry by building on whatever we have in common—whether it is playing tennis, raising children or going to church.
It is important to remember that real estate is a numbers game.
The more people you connect with, the better your chances of landing a buyer or representing a seller. Not every person you meet will be a prospect and not every prospect will become a loyal client. It is also important to also realize not every loyal client will result in a sale.
Even if you yourself are doing the most you can to make a sale or land a new client, other real estate agents may prove uncooperative in multiple offer situations or they may be overly protective of their clients and want to win even the smallest victories, or maybe they even hope to represent both ends of the transaction.
In any difficult real estate circumstance, if you want to succeed at signing on a client, getting an exclusive real estate listing, or closing the sale, you need to be patient, calm and above all tenacious. Like the turtle and the hare, the most persistent often wins the race. And please don’t cave the first time you hear the word No. In fact, be prepared to hear it at least seven times. Most of your competition will give up at two or three. Having tenacity will set you apart.
For more on tenacity and how it relates to success, I invite you to order my real estate book, Getting the Property SOUL’D – A Breakthrough System for Successful, Stress-Free Buying and Selling on April 28th and you can also subscribe to my blog by filling in the box on the right-hand side of this page.
Be aware that any clients’ names have been changed to protect their privacy. Furthermore, Paula Pagano does not accept any liability for the content of any Blogs and this Website or for any actions you take or resultant consequences of actions taken based on the information provided in this communication. Any advice is my opinion after being a 35 year experienced real estate agent in San Francisco.