March 29, 2024

The Science Of Success in Real Estate



Published May 16, 2023, 6:20 p.m. by Violet Harris


Real estate science is the study of the factors that contribute to the success of real estate transactions. It is a relatively new field of study that is gaining popularity as the industry becomes more complex and competitive. The goal of real estate science is to identify the key factors that lead to successful real estate transactions and to develop models and tools to help practitioners achieve success.

Some of the key factors that have been identified as important to the success of real estate transactions include: market conditions, property location, property type, price, financing, and negotiation. Market conditions are one of the most important factors in real estate science. The market conditions at the time of a transaction can have a significant impact on the outcome. For example, if the market is hot, prices will be higher and buyers will be more willing to pay a premium for a property. On the other hand, if the market is cold, prices will be lower and buyers will be more hesitant to purchase.

Property location is another important factor in real estate science. The location of a property can impact its value, desirability, and marketability. For example, properties in prime locations are typically worth more than those in less desirable locations. In addition, the location of a property can influence its desirability to potential buyers. For instance, properties located in desirable neighborhoods are often more desirable than those located in less desirable areas.

Property type is also a significant factor in real estate science. The type of property can impact its value, desirability, and marketability. For example, properties that are considered to be luxury items are typically worth more than those that are not. In addition, the type of property can influence its marketability. For instance, properties that are located in prime locations and have high-end finishes are often more marketable than those that are not.

Price is another important factor in real estate science. The price of a property can impact its value, desirability, and marketability. For example, properties that are priced below their fair market value are typically more desirable to potential buyers than those that are priced above their fair market value. In addition, the price of a property can influence its marketability. For instance, properties that are priced below their fair market value are often more marketable than those that are not.

Financing is another significant factor in real estate science. The type of financing that is used to purchase a property can impact its value, desirability, and marketability. For example, properties that are financed with a mortgage are typically more valuable than those that are not. In addition, the type of financing can influence its marketability. For instance, properties that are financed with a mortgage are often more marketable than those that are not.

Negotiation is another crucial factor in real estate science. The ability to negotiate effectively can impact the value, desirability, and marketability of a property. For example, properties that are able to be negotiated down to a lower price are typically more desirable to potential buyers than those that cannot be negotiated down. In addition, the ability to negotiate can influence its marketability. For instance, properties that are able to be negotiated down are often more marketable than those that cannot be negotiated down.

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have you ever wondered how successful

people became so successful wait well

that obviously was not a very successful

sentence but you get the point today

we're going to talk about success

[Music]

welcome again to a new episode at prop

coach here again with Thank You coach

taco and today like we mentioned before

we're going to talk about success we all

want to be come successful I want to

become successful you want to become

successful I meet so many people that

want to become successful but what is

success what success means to your

business how do you get success now what

I want to talk to you is the science of

success what is it that success actually

means and what kind of formula what kind

of you know you are in a laboratory when

you're putting things together what do

you need to put together to create that

success now in prop coach we have a very

simple formula for that and maybe other

companies or other people won't agree

with that but we have studied so many

successful entrepreneurs real estate

agents real estate people around it that

have created success and it's very

simple there is a science to it if you

take the right steps if you follow the

right procedures you will guaranteed get

success now you must be wondering right

now what is that formula so you want me

to explain it just not a little bit yes

yes okay let's go so step number one in

the science of success is very simple is

everything that you do will start with

an idea yes your brain will come up with

an idea

so everything that you're going to do

and everything you're going to proceed

in life it starts with just a thought

and impulse something you come up with

in your brain all of us get loads of

ideas every single day every single

moment I can get a good idea right now

the question is what are you going to do

with that idea because most of us just

get stuck there I know that you there

what

right now you have a ton of great ideas

really good ideas and you know what

maybe one of them could be a million

dollar idea yes it could be a million

dollar that but here is where most

people already struggle because you need

the second step of the science of the

formula to start making things happen

what means that the first step is the

idea and the second step you have to

multiply that with implementation you

have to put that into action

the only ones of people that I know that

became successful they knew how to take

action so remember you have the idea and

you have to have the right

implementation but here comes the thing

most people think that they're done

there that's where it stops

unfortunately no because I still know a

lot of people you probably know a lot of

people that have an idea and they're

putting in the implementation and

they're still not successful so that is

obviously not the end after science the

formula has actually a second part that

comes after the idea and the

implementation so what is that second

part well let's put it like this if I

have the idea and I have the

implementation that you have to do plus

two other parts of this formula let me

give you the two parts the first part is

you have to work very very very hard on

that idea with the right implementation

you have to work very hard yes you have

to if the action is not enough you have

to work very hard on that action that is

just very simple in success nothing

comes easy you know you have to show you

have to prove that you want to roll up

your sleeves and really take hard action

and it just means you just need to work

very hard on it doesn't mean you need to

work hard till the end of your life no

you just needs to be hard for a specific

period of time and that brings us to the

end of the science yes that you have to

work hard times a long consistent period

of time that's the end of the formula

and usually

people out there in the world they don't

do it for a long consistent period of

time they just do it for a short time

because the first time they have the

idea they do the implementation they

start working hard and then they get hit

in the face and what did they do they

quit they stopped they cannot take the

rejection they cannot take the failure

they cannot take whatever is coming

against them and they just back off and

they just let the idea just blow and

they just move on with their lives and

that is exactly what success doesn't

want in order to have that success you

have to do it for a long consistent

period of time and you should watch all

the great movies you know about the

movie founder you know where where it

explains about the start of McDonald's

or the movie about Mickey meets Walter

you know the story about Walt Disney all

the successes of great entrepreneurs in

the world didn't come easy to have to do

it for a long consistent period of time

let's not think about it you as a real

estate professional you had an idea you

joined the real estate profession

you took the implementation and now

you're in the business but maybe you're

not having this success yet that just

simply means you're missing the last two

parts maybe you're not working hard

enough taking enough action to really

get the success and are you doing it on

a long consistent period of time some of

you are maybe in the business for a few

months maybe one or two years at the end

of the day you need to make the full

formula work in taking the right steps

in creating that success now I hope that

you understand the signs a little bit

because I never was very good in science

but it's just one simple formula so let

me just repeat it to you one more time

any idea multiplied by the right

implementation plus hard work multiplied

by a long consistent period of time will

always lead to success guaranteed

success

oh wait wait wait wait wait anyway weeds

sorry I cannot let you go yet because I

want to talk one more thing it's called

the agent accelerator this is program

that Alex and I have been working on for

trillions gazillions millions and

zillions of seconds we have spent a

whole lot of time creating this program

to help you accelerate in your real

estate business so if you are excited to

learn more about this just go to the

link below all the information is there

ok that's it thank you

[Music]

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