S.E.C. Real Estate Observer

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How many of us throughout our real estate careers spend enormous amounts of time searching for new clients? Our hunt for transaction income (aka commissions) takes us to all four corners of the planet earth. We spend time cold calling owners, seeking referrals from satisfied clients, networking in our communities, and generally working every angle known to man in our quest for new product to bring to market and for new clients to assist in creating wealth or solving their problems and, ultimately, to make them money in real estate while we earn our commissions.

Ever wonder if there is a better way? Have you ever thought about creating wealth for yourself?

Well, there is another way. However, getting there requires a change in latitude. Most importantly, you’ll also need a change in attitude.

To find this new life course, all you have to do is conclude one day that:

“I am my own best client.”

So, how does one become “my own best client,” you ask? Well, it’s really pretty simple. First you start with a plan…a written plan for your life and your business. What do you want to achieve and when? What are your long-term and short-term objectives? What expertise do you have? What are your weaknesses? What are your strengths? What level of risk are you psychologically ready to take on?

How strong are your banking relationships? What about your education plan…do you know it all or are there some things left in life for you to learn? Do you have a stable of investors clamoring for the opportunity to invest in your projects? Or are you just starting out and searching for investors who will trust you with their money? What assets do you have today that you can put to work to grow your net worth? How do you spend your time every day? Are there aspects of your life that need to change if you set forth on this adventure?

Only you can answer these questions and the answers need to be realistic, in writing and part of a plan to achieve your objectives.

Now I know that you are probably chuckling just about now…everyone has told you about the power of writing down your goals but you just never seem to see the value in that exercise or just can’t seem to find the time to get it done. There is always tomorrow…. except one day you will wake up and tomorrow will be here.

There is an old saying that I like that seems to say it all: “If you don’t know where you are going, you will probably end up somewhere else.”

So, to start on your journey to becoming “your own best client”, write your life plan and share it with those in your life who will help it become reality. Then, work the plan.

Oh, and begin today because tomorrow is just around the corner.

Editor’s Note: Phil Corso, S.E.C. and Mark Johnson, S.E.C. together teach a two-day education program entitled “Broker Estate Building.” The program is based upon the original class created and taught by Colby Sandlian, S.E.C. and Cliff Weaver, S.E.C. in the 1970’s and ’80’s. Totally rewritten to reflect the realities of the real estate business today, the program is offered nationwide. For additional information, contact either Phil or Mark or visit the S.E.C. Education Foundation web site: www.secedfoundation.com.