Elite AgentOPINION

Tim Snell: why failure is the centrepiece of success

An unfortunate lesson I’ve come to terms with is that watching Tiger Woods play golf isn’t making me a better golfer.

I’ve viewed the tutorials, studied the tips, maybe even tried to implement a few of the changes in the backyard. But, in that critical moment standing over the ball, executing what I ‘know’ is far harder than I want it to be. 

Whether it be on the golf course, changing habits in your lifestyle or improving in your craft during listing, vendor management or negotiations; knowing what to do is the easy part.

Doing what you know inlays the challenge. 

So, do you know what to do? Good, now get better.

Improvement requires failure. It requires repetition. It requires refinement. 

Why should navigating a tough marketplace be easy? Little value lies behind a task that anyone can do.

The gap between good agents and great is starting to widen and those willing to remove their ego of what they ‘think’ they know and are willing to learn, improve and re-evaluate their craft are creating their own marketplaces.

So, what lessons can we learn from those starting to separate themselves from the pack?

How can some agents encourage double-digit registrations to auctions when others struggle to get one?

They are better at creating urgency, motivation and value to buyers.

How can some agents keep their clearance rates well above market averages?

They are better at providing evidence, empathy and trust to vendors that they have seen the markets best.

How are some agents able to bring stock to market?

They are able to create confidence in the process, understand the objectives and remove friction from entering the market.

The market has changed and real estate practitioners have had to sharpen their skills to get deals done. 

We can either complain that what we are doing ‘isn’t working.’ Or, we can learn to do what we do, better.

In the words of James Clear, “humans are imitation machines – we tend to learn by copying the behaviours of those around us”.

Therefore, the theory of ‘learning by osmosis’ means that the people we surround ourselves with have never been so important.

Our ability to refine our language, create critical outcomes and general energy around our ability to list and sell is created by:

  • The Close – What are peers are doing
  • The Many – What the masses are doing
  • The Powerful – What the best are doing

While who you allow into your sphere of influence is important and who you listen to will certainly point you in the right direction; nothing will help you grow without failure. 

Great agents fall in love with failure. They see failure as a necessary component of winning. 

Whether it be handling rejection on the phone, losing a listing to a competitor or losing a buyer to another property; failure is at the centrepiece of success.

The point is – if you want to get better, fail faster.

If you want to be a better door knocker, knock on more doors. 

A better lister, lose more listings. 

A better closer, lose more deals.

Your beliefs of what is possible in the marketplace creates your reality.

Are there no listings in your market? Look on the portals, you’ll see them everywhere.

Are there no buyers in your market? How are properties still selling?

If you fight for your limitations, you get to keep them.

The market doesn’t need to get better. We need to get better

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Tim Snell

Tim Snell is the Head of Performance for the Ray White Group.