How Investing in Yourself Can Help Your Real Estate Business

How much effort do you put into your professional development?

“Every job requires hard skills,” said Ted Wolf, president and owner of The School of Biz. “Most Realtors® believe they have to memorize five closing techniques, figure out how to overcome the five principal objections or learn to write a foolproof contract. Hard skill development is great, but if you ignore the soft skills of understanding how you impact others and events, you’ll lose money and opportunities for growth.”

Wolf said that while some Realtors® may have mastered the technicalities of the business, their other skills may be lacking, leading to wasted opportunities.

“Soft skills are more important than the hard technical skills. Building a team sets you up for significant growth and opportunities, because for a number of reasons, such as inflation and interest rates, 2022 will be a very challenging year for real estate,” added Wolf. “Think, feel and act in ways that help everyone win. That way, everyone will make sure you win.”

Prioritizing how you spend your time day in and day out is key, said Wolf.

“Make sure you’re investing your time in what energizes you,” he said. “Invest in what really gets you excited and what you can’t believe you get paid for doing. Hire others to do the things that you hate doing, don’t do well or never seem to get to. Knowing your priorities and sticking to them requires you to understand how real estate really works and what you have to do to make it all work in a seamless, organized manner where everyone wins.”

Setting goals for yourself is another tip Wolf offered, especially in income, freedom and wealth. “Define the problems and obstacles you’ll need to overcome in order to reach those goals. Develop the hard and soft skills that will enable you to surround yourself with the right people,” he said.

“Realtors® are entrepreneurs, and thereby members of the greatest personal development school on the planet,” added Wolf. “The school of personal development asks you to build greater self-awareness so you can manage the impact you have on others, events and yourself. Developing your soft skills, including an agile and resilient mindset, is the fastest way to build lasting wealth and freedom in real estate.”