The good news about being around for a long time is that the mistakes you made early in your career are now behind you.  When you’ve been around even longer, you can tell some of the humorous stories in a What-Not-To-Do manner and it may be of help to others.

Here are four mistakes to avoid in the last 60 days of the year and be financially ahead because of it!

Mistake #1 
I went by the office on Christmas Day to get something and the phone rang.  Being eager, I answered it and was told by the caller that he was a homeowner, wanted to list the house today, and was going to keep calling until he found someone who would list his house!  He said he would pay 6% and that I needed to be there in 45 minutes.  I thought this was a Christmas miracle!  Upon my arrival with the hastily thrown together comps and listing presentation, I was told how much I would list the property for and “Not a penny less.”

Word to the wise:  That client ruined my Christmas, verbally abused me, and made accusations of un-professionalism to my Broker after their property hadn’t sold within two weeks.   It was a Nightmare.  Do not let yourself be pushed around ever!

Mistake #2 
I was a Title Sales Representative and had been trying to break into a particular real estate office when all of a sudden the Manager called and asked if I wanted to participate in the year-end company party.  I thought, ‘Wow, this is my chance!”   So I spent lots of money on food to make a big impression because I was sure that this opportunity would lead to a tremendous amount of business!

Word to the wise: If they’re not using you during the year, they won’t be using you because you brought food to a party in December!  I should have spent that money on the clients that had used me during the year and maybe even on my own family!
 
Mistake #3
As a Loan Representative I was trying to generate more loans during the last quarter of the year and someone suggested that I get involved with the local Association of Realtors.  So for the majority of the last quarter of that year I helped gather toys, made center pieces, set up tables, delivered food to the needy, etc.  I made many short term friends and generated only 2 loans.

Word to the wise:  Let those professionals who can meet their financial obligations have these charitable opportunities because I was foolish enough to think that because it was for a good cause that this would all work out great!  Well it didn’t and it turned out that the other volunteers I was working with had spouses who were working while they donated their time.  I should have never tried this method as a way to generate loans.  Charity work is not a business development opportunity, it is charity!

Mistake #4 
As a young manager I was told that being in charge of the company party was a particularly important job.  So without input I rented a hall, picked out meals, had glass plaques made and hired a band for after dinner dancing.

Word to the wise:  Long gone are the days of company loyalty and bonding.  The parking was horrible at the hall, it rained, the food was cold for some, one of the glass plaques broke, and the band was drunk when they started!  The cost of this disaster also ate into the amount of the bonus each person received.  It is much better to have a nice breakfast, wooden plaques and larger bonus checks.  Trust me!

I hope this has been helpful and brought a smile to your face.  Enjoy the last 60 days of the year.  It’s the most wonderful time of the year!

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