No matter what your main source of leads is, there appear to be three distinct reasons that prevent REALTORS© from becoming successful. These are, in no particular order, fear, inertia, and projection.
Fear is an instinctive emotion that can paralyze people and prevent them from taking the necessary steps to succeed. Fear leads to self-immobilization, self-defeating and self-destructive behaviour. One of the greatest of these fears affecting real estate salespeople, is one we learn in childhood – the fear of rejection. If not confronted, this fear stops people dead in their tracks and prevents any chance of success.
However, fear is manageable; the secret to managing it is to realize that some rejection is inevitable and learn how to look at it differently.
The first principle in managing the fear of rejection is to focus on the benefits of prospecting and what it is going to help you achieve. It is the lifeblood of sales without which the sales cycle becomes stagnant and withers. Prospecting ensures you have a steady supply of leads which, in turn, creates a steady, predictable source of transactions and income.
The second principle is to avoid beating yourself up after a rejection. Most people avoid taking an uncomfortable action. You’ve gone for what you want, taken positive action toward achieving your goals and even though the result wasn’t favourable, you did it! Be proud of yourself for having acted!
Next, remember that you can’t lose what you don’t have. When you start out, you have nothing. When you prospect, only a few possible results can occur and the worst of these is that you don’t get what you wanted. You end up where you started, but at least you’ve acted.
Knowing a classy way to get out of rejection can help reduce the sting of the rejection and reinforce your resilience. Have a face-saving expression;
“OK, I understand. Thank you for the chance to speak with you. Have a great day.”
Don’t take it personally. Realize it’s not you who is being rejected, but your approach or what you’re offering. After all, they don’t know you!
By accepting that some rejection is inevitable and deciding to go for it anyway, you become more powerful.
Carl Jung said, “What you resist persists. What you accept, you gain power over.” To overcome the rejection, all you need do is accept that it will happen.
Change what rejection means to you. Rejection can make people feel weak and powerless. Changing the meaning in your mind to something more positive means you’re more likely to take action.
“I didn’t get the outcome that I wanted. Fine. This is not a comment on my worth as a person, but rather about my approach to getting what I wanted.”
“Do that which you fear, and the death of fear is certain” – Ralph Waldo Emerson
Isaac Newton’s First Law of Motion is “An object at rest will remain at rest until an unequal and opposing force acts on it.” There’s a natural tendency of objects (and, unfortunately, people) to keep doing what they’re doing unless something makes them change direction. The reason people fail is not because of what they don’t know. They fail because they refuse, on a daily basis, to put into practice the things they do know.
Oddly enough, one of the best motivators for overcoming inertia is our old friend, fear. Fear of not having enough money at the end of the month has a huge motivating effect on getting people to change their daily habits and take action.
Another effective method of overcoming inertia is to be accountable to another person, an accountability partner. Accountability ensures consistency in effort and activity. It creates an environment where you can overcome uncertainty by being able to call on someone who can provide positive reinforcement, review and support. You can overcome fear through practice and encouragement. You can learn to ignore distractions by having guidelines and directives in place to ensure concentration on critical items. And you can learn to manage time more effectively by establishing structures and outcomes designed to meet specific targets.
This is an unconscious projection of feelings from yourself onto someone else. This can limit a person’s ability to take a specific action. Some REALTORS© refuse to make phone calls as part of a prospecting program. The main reason is that they dislike getting cold calls and project that feeling onto others making the assumption that everyone feels the same way.
Overcoming projection can be a difficult problem and is well beyond the scope of this book. However, simply recognizing that this is at the heart of your avoidance behaviour and taking the action anyway, can go a long way to overcoming your unwillingness to take the necessary action.
Now that we’ve had a chance to take a look at what factors create issues for REALTORS© in moving from a hunter gatherer mind-set to a farming mentality, let’s look at what it takes to become consistently successful by incorporating both strategies.