The Arrogance of Ignorance
Bill Lublin joined us at the Revaluate NARnugget stage at the NAR conference in Chicago to talk about the Arrogance of Ignorance.
Bill operates a successful multi-office real estate firm, CENTURY 21 Advantage Gold in Pennsylvania. He has also been recognized as a thought leader for his insights regarding technology, social media, ethics and risk management in the real estate business. An international speaker and trainer, he makes complicated things simple in a fast-paced entertaining manner.
You’re probably wondering, what is the Arrogance of Ignorance?
Bill explains it in this video as new agents being given bad information and as a result, they end up with bad habits. He goes on to share what some of these bad habits are and why new agents should be aware of them.
- Agents are taught that they are a commodity before they’ve had any success.
- Agents are taught to confuse commission splits with compensation.
- When agents have a little success they start believing that they know the business.
- Recruiters make every agent feel like a rockstar before they are rockstars.
- Having an old license doesn’t make you experienced.
- When you don’t know what you don’t know, you tend to make mistakes.
He makes sure to leave us with tips to be better agents.
- Take time to learn to do the business the right way so that when the market shifts, and it always does, you’ll know how to survive a recession, how to work with listings when your buyers run out. You need to learn how to do more than just representing buyers.
- No one in the real estate business who learns how to list ever leaves it. People who know how to list, learn how to control the stock. If you’re controlling the inventory you’re always in business, whether there’s a surplus of stock or a shortage.
- Spend time learning about the industry’s institutions.
- You get from the business what you put into it. Work hard, work smart and stay close to the people who are active (buyers and sellers)