We caught up with the brilliant and insightful Nicholas Yale a few weeks ago and have shared our conversation below.
Hi Nicholas, appreciate you sitting with us today. Maybe we can start with a topic that we care deeply about because it’s something we’ve found really sets folks apart and can make all the difference in whether someone reaches their goals. Self discipline seems to have an outsized impact on how someone’s life plays out and so we’d love to hear about how you developed yours?
Being in real estate means one wakes up every morning unemployed. How you structure your day, the people that you talk to, the systems and processes you have in place all determine if you are going to make a buck or two that day or not. Self discipline really becomes self preservation, you eat what you kill so to speak. If you are not hunting daily, you will starve to death. I think a lot of people get into relationships estate thinking that they can wake up at 8am, have some coffee, post on Facebook and then sit back and wait for the deals to roll in. There is a reason why 80% of new licensees are out of the business two years later when their license renews. Those that do renew, only 20% of those make it another 2 years. It is not simply a ‘cut-throat’ business, it is a self start business and most people simply do not have that. For me, failure was never an option, not something I ever even considered. It was simply “this is what I am going to do for a living, so get to it!”
Appreciate the insights and wisdom. Before we dig deeper and ask you about the skills that matter and more, maybe you can tell our readers about yourself?
I own a boutique real estate firm in the heart of downtown Phoenix. That said, it was never a dream of mine to open a brokerage, let alone manage other agents. It really started, I think, as most things do, with one day looking around and realizing there was something missing in my industry. After 20+ years of successfully selling real estate and constantly being lumped in with every other ‘Tom, Dick & Sally” real estate agent, it really bothered me that people felt we were all the same. So we opened Brokers Hub Realty, a firm that primarily only hires associate brokers, requires more than quadruple the annual education that the average agent receives and insists that our brokers treat their business like a business, not a side hustle. Shockingly, that is groundbreaking. We coined the tagline “Elevating The Standard” and I like to believe that we honor that code in everything we do. So while it was never on my bingo card to run a real estate office, I am damn proud of what we have accomplished.
There is so much advice out there about all the different skills and qualities folks need to develop in order to succeed in today’s highly competitive environment and often it can feel overwhelming. So, if we had to break it down to just the three that matter most, which three skills or qualities would you focus on?
My dad sold real estate. When I wanted my license he begged me not to. It is a tough job, the pay is very uneven, many people fail, blah blah blah. I remember calling him when I did one of my first sales and was bragging that I had sold this condo. He asked how much it was and I replied briskly “it was $87,000!’ He laughed and told me that was great, but selling a 87K home was the same paperwork as a 870K home and a hell of a better paycheck. Not that it is all about the money, but the lesson here was that our time is valuable, and you only have so much bandwidth, so choose how you spend your time making money wisely. He also scolded me for still working at the Olive Garden telling me that ‘slinging pasta’ was never going to build a career, so jump in full time or go find another career. I put 10 toes down and made it my life’s work and have never looked back. It was harsh advice, but it set me on a path of understanding the value of my day.
What do you do when you feel overwhelmed? Any advice or strategies?
Wine helps. No, really, it does. Being overwhelmed is a natural feeling. Everybody has it to some degree. Our business can be stressful, all consuming and sometimes just mean. It is easy to let it get the best of you. It can make you feel like a failure when things go wrong, and as an empathic person, trying to always be the hero is exhausting physically and mentally. However there are things that as a true professional you can do to help minimize it. Having systems and processes in place is paramount to running a smooth business. Will things still clog up? Absolutely; and you have built processes to compensate for that. Taking the time to systematically map out the blueprint of how you want a transaction/career goals, etc to go helps when the overwhelming feelings come. Look at your map, make a correction and get back on track. Also recognizing that you only have so much mental bandwidth and taking time to heal your mind is honestly more important than getting that next deal. That is where the wine kicks in. Open the bottle, smell the cork, pour out a small amount and swirl the glass to aerate the grapes. Let it sit. THEN take a sip. Think about how it tastes on your pallet. Enjoy the aroma. Think about all the things that happened to this grape to get it all the way to your lips. There was a lot of work involved, lots of people touched that process to get it to where it is right now. Your business is no different. It takes a moment to perfect, so don’t beat yourself up. Figure out your systems and processes and then go finish that bottle of wine. Your head will hurt, but your heart will feel full.
Contact Info:
- Website: https://www.brokershubrealty.com
- Instagram: https://www.instagram.com/nicholasyalerealestate/
- Facebook: https://www.facebook.com/TheNicholasYaleRealEstateTeam
- Linkedin: https://www.linkedin.com/in/nicholasyale
- Youtube: https://www.youtube.com/@BrokersHubRealty
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