The ABC’s of selling real estate go like this: Always Be Closing. Whether prices are up or down or sideways, as long as you’re always closing, you’ll do fine.
The scary thing is when you haven’t had a fucking paycheck in 100 days.
It can happen even in a growth year. This year I’m doing $800,000-$900,000 gross commission, which nets $500,000 and after expenses, $300,000. It’s a great year. But there was a period this summer and the summer before where I didn’t get paid at all for 100 days. This business is a roller coaster, especially these days. Every deal this year has been a nail biter. Just because you have a signed contract and co-op board approval doesn’t mean it’s going to close.
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If you’re not getting paid, there are days where it’s like, oh my God, how are you going to pay next month’s bills, and waking up at 4 in the morning and sweating and going I just don’t have the money, what am I going to do. It affects your health, your mindset, your relationships, if you’re not closing.
A lot of brokers act like the sky is falling, and if you do that, you’re fucked. The desperation rolls off of you, and customers feel it.
I try not to let the shit hit the fan, because the bottom line is I have to keep doing deals or I can’t live the way I live. That’s what motivates me and everyone I work with.
I try to stay positive. I look at different motivational speakers on Twitter and even read fucking Tony Robbins once in awhile. You have to understand, before I became an agent, I never believed any of this motivational shit ever. I always believed you work really fucking hard, you hone your skills, and you become successful. Now I read excerpts from this book called A Happy Pocket Full of Money—it’s about manifesting what you want. If you dream that you already have it, you’ll get it. I look for quotes that just get me going. I listen to gangsta rap like Victory by P. Diddy—it gets me pumped up, it gets me fired up.
I also start looking at my assistant differently. She makes $900 a week so if I’m not getting paid for 100 days that’s like $9,000-$10,000 she’s getting paid. It starts to make me mad. I treat her differently. I make sure she is aware we haven’t closed a deal and she needs to bring more business in.
My darkest thought is that my wife and I might have to sell our apartment and move into a smaller one. But I don’t consider going into a different line of work.
I’ve never considered it, because I’m really good at this.