Which Traits Have Higher Success Ratio (For Realtors)
In recent studies (by NAR) it has been revealed that most realtors who fail, tend to make similar mistakes and/or they lack similar traits. (More than 70% of new licensees tend to quit the business in their first 6 months). Let's quickly mention the most relevant points and help those who struggle to understand what stands in their way.
Here are the 4 personality styles and the difference they make on productivity:
1. Analytical. Most analytical personality types tend to over analyze information and they paralyze themselves when its time to take action. They must do everything perfectly and tend to avoid taking action until they believe its perfect. Well, as we all know, Nothing and No-one is perfect (accept G-d). In addition, analytical style tend to go after "safer" environments where they can get paid "for sure" and the commission environment is not their ideal choice.
Percentage of success: Low. I personally recommend all analytical types to focus on commercial/investment real estate sales (where analytics are a huge plus)
2. Amiable. Most amiable types tend to avoid action as well. They do it because they need to feel comfortable with what they do, and most of them will do whatever it takes to avoid doing anything they are not used to or anything that is outside their comfort zone. Since real estate sales activities requires them to step outside of their comfort zone on a daily basis, they simply prefer to quit than to feel the "pain" of discomfort. In addition, amiable hate confrontations. As we all know, in our business, confrontation is a huge part. In addition, amiable also (similar to analytical) tend to go after "safer" careers where they can get paid by the hour/day/salary, so a commission only structure will not be their favorite choice.
Percentage of success: Low. We recommend all amiable to work with referrals and focus on servicing others. They do very well in a team environment (as buyers agents).
3. Expressive. The expressive styles love to talk and express themselves. They feel very comfortable to be around people they know as well as those they don't. They are naturally outgoing, they love meeting new people and confrontations are not a big issue for them. For expressive style individuals, real estate sales comes very natural and they can do it very well (if they can manage to hire someone with analytical traits who can keep them on track). Their downfall is, they are very unorganized and its hard for them to follow a specific schedule/plan. Percentage of Success: Mid to High. We recommend all expressive style individuals to hire someone else to keep them focus and accountable as well as someone who can keep them organized.
4. Driver. The driver personality style is by far the highest trait for top producing. They are what we call "Go-Getters". They get things done. They do whatever it takes to achieve their agenda and they do very well in a commission environment (because they don't like to have a ceiling above their head). They run away from safe environment (its boring them to death) and are high risk takers. They do very well with confrontations (since their emotional side is not active especially while doing business). They do what is necessary without over analyzing. Their downfall is they many times step on toes and hurt other people's feelings (although not on purpose, it can still hurt their repeat and referral business). Percentage of Success: High. We recommend all drivers to work with an assistant (expressive/amiable personality) to do ALL their customer service activities.
If you don't know which is your personality style, we recommend you to take the DISC test (or similar). As a matter of fact we offer a complimentary test to all licensed realtors. Click here for ore info.