My First Year in Real Estate - The Hits & Misses / Peter Lorimer - The Real Estate Entrepreneur Podcast

Peter Lorimer - The Real Estate Entrepreneur Podcast

Greetings and Welcome to the Real Estate Entrepreneur Podcast; I am your host, Peter Lorimer, former hit record producer, now the host of the show Stay Here on Netflix, and Owner/Founding Partner of Corcoran Global Living. This episode is a new series called Fireside Chat, a more intimate journey where I dig a little deeper into my personal and professional life experiences. Today, I share my first year in real estate, including the failures, the triumphs, and those a-ha life-changing moments.

Golden Nuggets from this episode:

[02:58] "I had to kiss goodbye to a career that I had loved for 15, 20 years and took an enormous leap of faith with no income into a new job."

[04:27] "I remember speaking to my manager saying, you're advising me to go door knocking. You're advising me to send postcards to a geographic area. You're advising me to do cold calls. What do you say to other people who are joining the industry? And she said without missing a beat. Well, we tell them exactly the same thing."

[05:35] "I remember coming home to my wife, Cindy. And I said, I am hating this. I said, I don't feel like a, me. I feel like a fraud. I'm dressed up in a suit. That's really not me. I just want to wear, you know, my music business gear and my sneakers and my shorts and all of that stuff, which you could do in LA, and you still can. And she gave me the glorious words of: "Just do what you want to do. And then the universe will take care of the rest.".

[07:24] "My first listing was actually a hundred miles away, but I refused to give it away. I refused, my manager said: -Oh, you need to refer them out. And I said: - Not on your life."

[08:37] "If you're unsure, turn up at the property an hour earlier, that you're about to show. Scope it out and then write some notes, go look at where the Starbucks are."

[11:54] "I'm in LA and everybody talks about entertainment all the time. I decided to not mention anything to a soul. So the brokerage I was at, I just shuffled in the back. I sat down. I put my hand up as a new agent. I absorbed everything. I asked questions. I checked my ego at the door because I was on a one-way journey."

[11:55] "My thing was, I knew the numbers. I knew the streets. I knew the houses. I knew the bedroom count. I knew the comps. I knew them all in my mind. And I had it all in my iPad."

[17:07] "Social media allows us to get online and really bare our soul. Really show people who we are really kind of, give it all away. And it allows people to make their judgment calls and our character"

Take a listen and thanks for being here, PL