How to Go Broke as a Real Estate Agent

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I thought we’d start the week with a little financial advice. Specifically, how to go broke as a real estate agent. After watching this business for a long time, I’ve noticed there’s actually a pretty reliable formula for it.

  1. Keep doing what worked three years ago.
    Whatever you do, don’t change. The market shifted, buyers and sellers want something different, and lead generation looks nothing like it used to? Ignore all of it. Eventually the market will realize you were right and come back to you.
  2. Treat your business like a hobby, but expect it to pay you like a CEO.
    No budget, no business plan, no schedule and no tracking. Just vibes. Then at the end of the month, stare at your bank account and wonder why real estate is so unpredictable.
  3. Let your phone run your business.
    Wake up, check your messages, your email and Instagram, then spend the rest of the day reacting to whatever shows up next. At 6:00 PM, sit back exhausted and announce, “I was SO busy today.”
    Doing what, exactly? Excellent question.
  4. Stop prospecting as soon as you get busy.
    Land a couple of listings, put a few deals together and decide you’re too busy to prospect. Then, three months later when the pipeline is empty, start again. Nothing improves your prospecting voice quite like a little desperation.
  5. Confuse activity with productivity.
    Answer emails, play with Canva, scroll Instagram, check group chats and reorganize your database for the fourth time this year. You can fill an entire day without ever talking to someone who might actually buy or sell real estate. It’s quite impressive when you think about it.

Okay, that’s the list of what not to do. Hopefully nobody was taking notes.

Here’s your assignment for this week.

  1. Protect your mornings. Block the first 90 minutes of every workday in your calendar this week, before you open texts or email, and use that time to prospect, follow up and plan. Treat it like a listing appointment you can’t move.
  2. Have five real conversations a day. Not likes, comments or DMs dressed up as prospecting. Actual conversations with people about real estate. Keep a simple tally on paper and see where you land by Friday. And if you’re busy, do it anyway. Especially if you’re busy. The work you do today is what keeps you from waking up 60 or 90 days from now wondering where your next deal is coming from.
  3. End each day with one honest question. Before you shut things down, ask yourself, “Did I actually build my business today, or was I just busy?” Write the answer down. Sometimes it might sting a little, and that’s exactly why it’s worth asking.

And please, whatever you do, don’t follow the first five pieces of advice.

Have a powerful week ahead.