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How to overcome the fear of chasing your dreams
Day in, day out, we speak to agents who want to start their own business. For many, fear is the only thing that holds them back.
Are you a successful real estate agent working for someone else, but dreaming of breaking free and starting your own business? Are you held back by the fear of failure? It’s time to face the music: the fear of staying unhappy in your current situation should be greater than the fear of starting your own real estate business.
Starting a business can be scary, there’s no denying that. But the truth is, staying in a job that you hate can be even scarier. When you’re not fulfilled in your work, it can affect every aspect of your life. You may feel unmotivated, stressed, and unfulfilled, and these feelings can spill over into your personal relationships and overall happiness.
Sound like you? Read on.
What are the most common fears and how can you overcome them?
1. Fear of Failure
The fear of failure is perhaps the most common that agents face. It’s natural to worry about the possibility of losing money, time, and reputation.
And the fear of failure is often closely linked to a fear of rejection.
However, it’s important to note that Agents who partner with UrbanX on average achieve 40% growth based on their previous year and 140% growth in the second year of business. Some of our most successful agents have achieved up to 300% growth in just the first year of business partnering with UrbanX.
Overcome a fear of failure by reflecting on your success.
Think about where your last 20 real estate sales came from and write them down. Were they from your personal reputation, relationships, and referrals, or from the brand you work for?
As Hanan Cawley mentioned this during his launch “I used to think that people only wanted to list with a big brand, which isn’t true. People list with people.”
We’ve seen time and time again that vendors do not decide on which franchise they are going to list but choose the person they feel most comfortable with.
2. Fear of Financial Risk
Sure, your income is dependent on your ability to list and sell – but how is that different from what you do now?
Can you think of a time that you NEVER made any income, or is your head creating stories that just aren’t a reflection of reality?
Think about the risk you face today. If you stay where you are and make less GCI due to market conditions, you’re losing 50% of that reduced income… Now if that doesn’t scare you, I don’t know what will!
Overcome fear of financial risk by reviewing your numbers and making a plan.
Look at your numbers and write them down. If you could increase your comms split to 75-90% of GCI, how much better off will you be? To make it easy, we’ve created this calculator for you.
Create a business plan that outlines your goals, strategies, and action steps. This will help you stay organised and focused, and give you a roadmap to follow as you start your business. Using the numbers from the calculator and your new comms %, work backwards and see how many listings you’d need to maintain your current income (generally, it’s about 30% less listings to make the same money).
Start with no buy-in costs or fixed business expenses.
Yes, it’s possible to start your business with little to no investment. UrbanX mitigates 99% of costs with starting your Real Estate office and you’ll have NO fixed monthly fees. We invest in you, and provide everything from Branding, Marketing, Administration, Business Management, Trust Account Management, Software, Accounting and Finance.
So instead of using your money to buy-in for a tiny percentage of someone else’s business, you can reinvest it into marketing your business with 100% ownership.
3. Fear of the unknown
Fear happens when we live in our mind, thinking about the things that don’t exist. As philosopher Sadhguru puts it:
“If your fear is about the nonexistent, you fear is 100% imaginary. If you’re suffering the non-existential, we call that insanity.”
The question you need to seriously ask is, what’s the worse insanity – not following your dreams or remaining stuck where you are and giving away 50% or more of your income?
Overcome this by focusing on reality and your ‘why’.
Why did you get into real estate and what keeps you in the game? Why do you want to start your own real estate business? What is your purpose and passion? What do you do (and will continue to do) to be successful?
When you focus on your why, it can give you the motivation and drive to overcome the fear of perceived unknowns.
You can also surround yourself with a network of supportive people who can help you stay motivated and accountable. This could be your friends and family, a mentor, a coach, or a group of like-minded entrepreneurs. The great news is, when you join UrbanX you get immediate access to our team of over 75 real estate experts, and networking opportunities with over 160 elite agents.
Where to from here?
In the end, the fear of staying stuck in a job that doesn’t fulfil you should be greater than the fear of starting your own business. You have what it takes to succeed – all you have to do is take that first step. Together, we can help you overcome your fears and build a real estate business that aligns with your passions and values, and creates a life that fills you with purpose and meaning.
So, it’s time to take action. Don’t let fear hold you back from pursuing your dreams and take that first step to start building your real estate business. Get in touch today.
To learn more about UrbanX and how we can help you build your business, fear-free, please get in touch.
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