Today I lost my first paying customer at Nekst. I’ve had a good run with a large number of people paying for Nekst and being happy. The reason they cancelled their subscription was because a competing program offered more. It was better.
At first, it stung pretty deep. I spent time researching the competitor and trying to justify what I was doing. Within a few hours, the stinging subsided and I refocused on my future path. I felt determined to be better. This was a feeling I hadn’t felt for a long time. I’ve been married for 8 years and rarely lose a listing appointment in my real estate business. I’ve forgotten what it’s like to be turned down by a girl or subpar in my business. This feeling of rejection was miserable but at the same time, motivating.
Realtors need rejection to become better at what they do. According to the National Association of Realtors Report of Home Buyers and Sellers, it was discovered that 70% of sellers only interviewed one agent before hiring them to list their home. That means that more than 2/3rds of the agents don’t compete with anyone during their listing appointments. For the remaining 30% of sellers who do interview multiple agents, my guess is that they choose to interview the most successful agents in their area after doing their own online research and consulting many friends. As a result, it’s likely that 80% of real estate agents rarely, if ever, are in a position to be rejected by sellers.
Some of the most inspiring and creative people of this world dealt with a period of rejection. From Abraham Lincoln losing every election until he ran for president, to JK Rowling being turned down by a dozen publishers for Harry Potter, to the Beatles being shot down by the most popular record labels of the time, rejection can either be embraced and lead to great things or a reason to rethink one’s career.
Agents don’t face enough rejection. The fact that the average agent does less than 3 transactions per year is absurd. Agents are comfortable holding a real estate license yet failing to produce within their business. They assist close family and friends without ever being held accountable for their knowledge and performance.
It would benefit the industry for buyers and sellers to be picky. Interview multiple agents. Reject those who aren’t worthy of your business. This rejection will either make the agent determined to be better or give them a reason to exit the industry. Either way, we all benefit.