S = 5N x W
We have all met or at least heard or read about people who have been incredibly successful, and some have even made billions even without having their MBAs or at least college degrees from Ivy league institutions. However, there is absolutely no one who could be that prosperous without knowing the Three Rs which are the basic skills taught in schools; Reading, Writing, and Arithmetic. Properly used, any man can survive in our society even just with these basic skills.
It is just the same in Real Estate. If you want to have a sustained successful career, you need to have these Five Ns. There is no particular order as each one is equally important to complete the formula S = 5N X W where S stands for Success and W means Work…very hard Work!
Let’s start with N which represents your NETWORK. By Network, I don’t mean the thousands of FB friends who you hardly know and do not even like your posts. Not your collection of business cards in your shoebox that you have not even touched based yet, and definitely not the people you meet in events or parties who are merely your ‘pool of acquaintances’. I am referring to your ‘active network’ consisting of people who interact and collaborate with you on a regular basis for the achievement of your goals.
The challenge is in building and maintaining your Network. You can reach more people and motivate them to ‘tune in’ to your station if your broadcast in one particular frequency. Everyone only listen to one station and that is Wii FM, (What’s in it For Me). Why should they listen to you, work with you, be identified with you and maybe join you?
This is where the second N comes in, and that is KNOWLEDGE. What can you share with them? What can they learn from you that can also help them boost their careers? What is your expertise, and will they not be embarrassed if they refer their clients to you? Your Knowledge on the different ways how to make your investors’ money grow, how they can save and how to protect their investments will be of utmost importance.
Now, since you are in the business of offering real estate, keep in mind that what you are selling is not really the property itself but it’s POTENTIAL, more specifically, it’s potential for capital appreciation or for rental opportunities. Therefore, your most important asset is the third N, which stands for INFORMATION. Always make sure that you are updated with current events or better yet if you have access to advance information about what is going to happen in particular areas that may offer big opportunities for your investors.
Having the 5Ns will already give you a good edge but since you are in the selling career, nobody will want to listen to your sales pitch, much less, buy from you if you are very dull and boring. You may have memorized all the selling techniques and mastered how to handle objections but you can never make the client feel good unless you possess the fourth N, and that is ENTHUSIASM. It is with enthusiasm that your clients feel your confidence and conviction, your belief in your product, your eagerness to share it with them and not just to sell it to them to get your commissions. As Zig Ziglar puts it, Selling is simply a transference of emotion! Your clients should feel your excitement, your sincerity and most especially your Enthusiasm.
The Fifth N, and definitely not the least important, is INTEGRITY.In fact, it ties up all the other 4 Ns and makes them all useless if no one would want to deal with you or even be associated with you if you have no Integrity. Make sure that your practice is not only professional but more importantly, ethical.
Have all these Five Ns, multiply them with a lot of hard Work and I can assure you that you will enjoy a very long and productive career in real estate. The best thing about it is that, you will not only be enjoying the financial rewards of this career but you will be influencing a lot of people along the way to practice Responsible real estate and make it a really respectable profession.
ALEJANDRO S. MAÑALAC
Havitas Co-Founder | Chairman
Andy has 3 decades of sales management experience with some of the Philippine’s biggest real estate developers. He is a Licensed Real Estate Broker, an International REALTOR® Member and a Certified International Property Specialist of the National Association of REALTORS®.