A Floyd Wickman Blog by Mike Pallin “The market has always had a tendency to go up and down, and then up and down, and then up and down. It has always been that way. It will always be that way. Not only does the market go up and down, so does the population of real estate agents working. And yet, no matter what the market happens to be doing, 100% of the people who get into real estate have high expectations for themselves.”
That’s the first thing I remember Floyd saying about expectations.
Is that such a bad thing, to have high expectations for yourself? It is if you look at what actually happens to most people who get into real estate. They leave the business without coming anywhere near their expectations.
It can be especially disappointing if you got into real estate to build a business; to fund retirement; to put kids through college; to pay off a mortgage, or to enjoy the lifestyles of the rich and famous.
In fact, the second thing I heard Floyd say about expectations was something like, “The higher their expectations, the further they have to fall.” Keep in mind, he said that about working with buyers, and by that he means to guard against building up people’s expectations by overselling properties you’re about to see together. Prepare people for the worst, not just the best.
Wouldn’t it make sense then to issue an Expectations Permit along with a real estate license? Is Floyd saying that we should lower our expectations, and not expect most people to succeed at real estate?
No. Because he then went on to explain how to manage your expectations. “Keep your dreams and energy level high, and your expectations under control, and you’ll never be disappointed.”
That’s a great formula. Let’s break it down.
Keep your dreams high. In the absence of a specific and measurable goal, with a vision, a dream and a plan, there will always be an expectation. No matter what you accomplish and achieve, it can never measure up to expectations. They are too vague, wild-eyed, pie in the sky perfection. Dreams with a measurable goal bridge that gap between what you actually accomplish and the perfection you expect. That gap is the wellspring of disappointment.
Yeah, I won the lottery, but I expected more than just $43 million. I expected to be happier. I expected to live longer. I expected that new car smell to last forever. And on and on with perfection that we can never quite reach.
Keep your energy level high. That’s right, we have to actually work. Put in the time. Make the calls. Have the conversations. Watch the numbers. Put the word out. Get up and go the extra mile.
Here’s what doesn’t work. Well, I expected more people to show up. I expected they would call me once they knew I was in business. I expected things to be easier.
Keep your expectations under control. How do I do that? Set a goal. Make a commitment. Do the basics. Each day. Track your activity and measure your progress. Visualize the goal. Broadcast the goal. Burn a few bridges to remove the option to fail. Be responsible to the goal, and let go of the end result.
In other words, “Inspect what you expect.” Be willing to take a hard look at your inner expectations from the outset. What am I expecting in this situation, in this career, in this transaction, from this meeting, in this moment . . . and then bridge the gap between perfection and reality with a goal and directed, energetic action.