FOUR PERSONAL TRAITS THAT WILL HELP YOU SUCCEED IN REAL ESTATE!
Updated: Feb 14
As I look back at 2019, which was a year of big lows and big highs, I am thankful that I have had the opportunity to spend the last half-decade of my life working in the property industry.
When I think about the ups and downs that I have experienced throughout the journey so far it is clear that property sales and development is not an endeavour for the faint of heart. The stress of the real estate game can literally drive people to an early grave.
So what traits do you need to be successful in real estate? Below I have put together a few key traits that I believe can have a real effect on your ability to make a career and build wealth from property.
1. Lateral Thinking
This is probably the most important trait that you can have to ensure you are successful in your property endeavours. If you are like we were when we started, then your technical knowledge will be very little but you will be amazed how much value you can add if you can think outside the box.
There have been too many situations to count in the last three years where our qualified trades could not work out a solution to a problem that, through asking some simple questions and thinking from a difference perspective I managed to solve saving thousands in the process.
Sometimes the lack of knowledge is actually a benefit as you have an open mind to think of abnormal solutions. Just remember there is a solution to every problem so think laterally and don't be afraid to try something new.
This is another really important quality you must have if you want to be successful not just in property but also in life. I honestly believe that the major difference between those who are successful in life and those who are not is that the unsuccessful ones give up while the successful ones persist at all costs!
There are too many people who sense defeat and give up so as to ensure they are not embarrassed by a public loss. This tendency to quit when it gets tough means that those of us who persevere through will be few and far between and the rewards are massive.
When you are working on property projects there will be many opportunities to pack it in and give up but if you make sure you push through and learn from your mistakes you will grow and eventually will reach your goals.
3. Think Skin
Property is an interesting industry in that everyone has some involvement with property in their life. Almost everyone either owns, rents, lodges or has some connection with a house in someway.
We have found throughout the last 3 years that everyone also has an opinion on property and, whether they know what they are talking about or not, they will tell you it. It is extremely important that you can identify what information is legitimate and have a thick skin to everything else.
If we got upset every time a plumber or sparky told us our property wasn't worth what we paid for it we would have had a very miserable time!
4. Forward Thinking
As with most things forward thinking is incredibly important when you are looking to get stuck into a property project. As the project manager it will be your job to ensure trades and deliveries are on site when you need them.
If something is missed it can literally delay a project by weeks or maybe even more, which means more holding costs and less profits for you. In more extreme situations if you miss something big such as a certain aspect of a build that needs construction approval from an engineer the costs in trying to rectify it can totally decimate your profits.
If you want to be really successful in the real estate industry it is important to always be learning and growing from project to project, however, if you can adopt the key traits mentioned above you will give yourself a great head start and will move yourself significantly towards your goals!
Thank you so much for reading!
As always this article is based on our experiences and point of view and should always be read as such!
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Have a great day!