Yes, it would be nice to drive all customers around in a stretched hummer limousine, but let’s be honest… Are you taxi service? Are you on a prom date?
An easily preventable mistake real estate agents make is spending a commission check like another commission check is around the corner and buying a luxury car.
In one of Seth Godin’s podcasts he shared some interesting insight about this luxury car subject. His words, something to the extent, “…If I got into real estate sales, I wouldn’t do what most agents do…. I wouldn’t lease an expensive car… I wouldn’t spend money on advertising… I would spend two years becoming part of every local board, chamber of commerce and community organization… get to know people, learn how you can be of service, help people…”
Even the frugal, money wise, investment savvy Dave Ramsey a second generation real estate agent himself, is known for saying “Real estate agents should avoid car payments. Buy a 10-year-old luxury car that you can pay cash for, real estate is unpredictable.”
Success isn’t measured by the car you drive. In fact most high income earners, which are often thought of as successful are not buying expensive luxury cars either. They’re buying the same Toyota’s, Honda’s and Fords as the rest of us. Physicians, which most everyone envies for their abilities, skill set, hard work, and of course high paying profession are likely driving a Toyota or Honda.
As a real estate agent, if you think you need a luxury car because perception, not reality, is everything in the real estate business you’re very lost, equal to assuming every customer wants to work with a super-successful agent… You know what happens when you assume…
Do you like to laugh? This video will give you a chuckle…