How to Know When to Quit Real Estate

Why are you trying to get started in the real estate or note business?

Do you have an answer? Is it just “more money”.

If you’re just getting started I’m talking to you.

Why Are You Doing This to Yourself?

Here’s the thing… if you don’t have a BIG FAT WHY, I want you to quit. Yep, in fact you should quit right now, don’t wait until tomorrow, quit today.

I want you to quit because if you don’t have a WHY then you won’t have the fortitude to make it through the tough spots and if you can’t make it through the tough spots then why are you wasting your precious fleeting time on this planet?

Find another hobby the real estate hobby is too expensive.

Go for long walks. Take up macrame. But for Pete’s sake don’t pretend you’re going to make money in the real estate business because frankly you won’t be able to hack it … without a BIG WHY.

Your BIG WHY is your goal, your dream, your definite major purpose, it’s a lifestyle, a vision, it is the future ‘you’ and it is VERY SPECIFIC.

It is not “I want more money“. No my friend that is much too easy, we all want more money.

You need specifics. You need to be able to practically taste it.

  • Where will you live?
  • What will you drive?
  • How will you spend your days?
  • What qualities will you exude?
  • How do people think of you?
  • By WHEN will you have, be, and do all this?

You need to be specific because you need to be able to taste it because from time to time you are going to be in desperate need of the motivation to continue and without your WHY you are sunk, you are dead meat.

So answer these questions above, and more, and answer them in detail. That’s how you set goals and define your BIG WHY.

So…

  1. You decide what you want and why you want it
  2. You write it down
  3. You be very specific
  4. You set dates for achievement
  5. You keep the BIG WHY right in front of you every single day
  6. and you GO FOR IT, always.

So plan to keep your JOB. Or else figure out your BIG WHY right now, today.

It’s Too Hard

You should quit today because making any serious money and achieving real success is hard, especially at the beginning. You’ve heard it all before “if it was easy everyone would do it” , “nothing worthwhile is easy”, yadda… yadda…

ALL TRUE, these tired old statements are true.

Here’s a secret though, most of the time it’s hard because of YOU.

YOU make it hard. You are, in fact, the problem.

You make it hard because you build things up in your mind, walls, hurdles, “reasons” you can’t do this or that and you make mole hills into insurpassable mountains.

Want to know what the number one cure is for your molehillmountainosis?

ACTION.

You must take action.

Brian Tracy talks about the “corridor principle”.

Imagine your walking down a very long corridor and as you’re walking down it you start passing doors on your left and right. You start opening them and behind each is an opportunity and now suddenly the things that you’ve been looking for start flowing into your life because they were behind those doors.

But you would never have even seen the doors had you not started walking. There’s no telling from where you are now what’s behind each of those doors, heck you can’t even see the damn doors.

So you just have to start.

But wait! If you don’t have your WHY you will never Take ACTION, it’s too hard. You’ll pick at it, poke at it … but you won’t do it.

If you do have your WHY then decide right now what your very next step is and take that step now. Start down the corridor TODAY.

Or else, please, quit.

You Have No Idea What You’re Doing

If you don’t know what you’re doing right now you need to find a mentor.

Find a way to educate yourself, or else you should just quit.

Mentors come in different forms, none of them are free. You’ll be paying with sweat, splits, or cash.

Other people have already done what you’re trying to do, they’re miles ahead of you. The uncertainty that is swirling in your head over the minutia in this business, all that little stuff that you don’t know how to do, will chase and taunt and torment you and even with your freshly minted BIG OL’WHY and your willingness to take ACTION you will freeze because uncertainty breeds inaction, or another way to say it, “a confused mind does nothing”.

If you are unwilling to find someone who will show you the ropes and if you’re unwilling to compensate a mentor appropriately you should quit.

Ask anyone who is a success in real estate how they got there and you’ll find out that they got there by paying their dues.

  • They had to split all their transactions with the top dog in the office.
  • They did all their CCIM training for some $12,000 AND THEN they had to split all their deals with someone in the office.
  • They bought dozens of books and tapes and attended seminars
  • They lost their shirt on some deals
  • Or worse maybe they went to college for real estate for 4 years and $100k then found out it DOESN’T MEAN SQUAT

If you don’t know what you’re doing yet AND you don’t want to pay your dues, you should QUIT. Because like it or not you are going to pay. You’ll pay in lost opportunities, you’ll pay in wasted time, you’ll pay with shitty deals.

You will pay.

So forget real estate, it’s expensive and it’s hard. Keep your job and quit real estate..

Sincerely, If You’re Not Up for it, Please Quit

If you’re not ready to quit then define your WHY, take some ACTION, and EDUCATE yourself.

Come to think of it… why not get started today.