The Modern Motivation Pyramid
I don’t know one real estate agent who did not get in the business at least partly for the money, so it would make sense that sales training and recruiting are focused on financial goals. We join the business, learn scripts and knock on strangers’ doors all for the promise of a big paycheck. But we’re not even earning that paycheck: the median gross income of a real estate agent is approximately $43k (20% below the US MGI, per the Bureau of Labor Statistics). That hardly seems like a reason to keep up with the grueling demands of this job. So we don’t; when the going gets tough we lower the bar and settle. So one has to question pay as a sole motive for staying in the business.
We stay in the business for a couple of reasons: First, because our indoctrination, we do keep thinking that if we just get to the right brokerage, or follow the right system, or invest in the right tool, that paycheck is just around the corner. But we all know what makes a big break: big work, big sacrifice, big courage, etc. and we’re not investing those things at the rate we need to in order to see the payday. So what is the real reason we stay? If you ask any agent about their best day in the business, 9 out of 10 will recount a story about a deeply grateful client whose life they impacted with their work (and they got paid, by the way). The agent will say things like, “Days like that make it all worth it.” We keep doing this work because it is meaningful.
Let’s stop choosing to look at our work through the Pay lens. It’s a shallow, dirty way to do business and we know it. Some folks have figured it out. Some of the most consistently financially successful agents I know ARE dialed into a deep sense of purpose in our work. Everything we do is put through that filter of service/caring/helping/whatever you want to call it. So when we are considering prospecting, instead of seeing people through the Pay lens, each of them with a little dollar sign on their forehead, we look at people through the Purpose lens: How can I make this person’s day? What do I have that they need? How can I help them? It’s such an empowering, gratifying way to work, and makes the ‘work’ itself quite enjoyable.
Do you agree? Have you ever reached a financial goal? What keeps you going? I want to hear from you. Comment below or hit me up on IG/FB at @hellyeahbacon and let me know what makes you tick.