Negotiating Secrets From a Million-dollar Realtor | Layla Yang | TEDxShaughnessy Live

Summary

In this inspiring talk, a former flight attendant turned real estate mogul shares the secrets to her success, emphasizing the importance of problem-solving, building trust, and mastering the art of closing deals. She candidly discusses overcoming challenges and the power of relationships, ultimately providing a step-by-step method for others to achieve similar success in their fields.

Takeaways

• 🏡 The speaker emphasizes that viewing a real estate transaction as a collaborative problem-solving opportunity, rather than just a sale, is crucial for success.
• 💼 The speaker's background in criminology and experience as a flight attendant taught them valuable skills in problem-solving and service, which they applied to real estate.
• 💡 Knowledge of clients' needs, lifestyles, and aspirations, as well as understanding the market, is essential for offering tailored solutions in real estate.
• 🌟 Success in real estate is not just about making sales; it's about building a reputation and maintaining trust with clients and the community.
• 🔧 The speaker faced significant challenges and setbacks in their career, including damage to their reputation, which taught them the importance of resilience.
• 🤝 Building trust involves not only understanding clients but also allowing them to understand your values, principles, and what you stand for.
• 🕘 Trust is built through actions, not words. Keeping your word, being objective, and valuing clients' time are key components.
• 🔄 After facing a crisis of trust, the speaker focused on rebranding themselves to be more visible and approachable, which helped to rebuild their credibility.
• 💡 Networking and collaboration with other professionals, including Realtors and mentors, are vital for growth and learning from each other's experiences.
• 📈 The speaker shares that mastering the art of closing deals involves taking the lead, presenting options, and guiding clients towards decisions that meet their goals.
• 🚀 Success is not just about achieving financial goals but also about becoming the kind of person who attracts success through their character and actions.

Q & A

What is the primary challenge the speaker identifies in the real estate industry?

The primary challenge is the tendency to view transactions merely as sales, focusing on maximizing profit from each deal rather than seeing them as opportunities for collaborative problem-solving to satisfy client needs.

How does the speaker redefine the concept of a 'deal' in the context of real estate?

The speaker redefines a 'deal' as an opportunity for collaborative problem-solving, aiming to provide clients with something better than any alternatives or the status quo.

What was the speaker's educational background before entering the real estate business?

The speaker studied criminology in University with the initial intention of attending law school.

Why did the speaker decide to become a flight attendant before law school?

The speaker wanted to save enough money to attend law school and also had a desire to see the world.

In what way did the speaker's experience as a flight attendant influence their approach to real estate?

The experience taught the speaker to be a problem solver and to offer solutions, skills that later translated well into the real estate industry.

What was a pivotal moment that led the speaker to fall in love with real estate?

The speaker's trip to China, where they saw tremendous potential for growth in the real estate industry, was a turning point.

How did the speaker build significant savings in their first two years as a realtor?

The speaker did not provide specific details on how the savings were built, but it is implied that it was through successful real estate transactions.

What challenges did the speaker face after achieving their first million-dollar year in real estate?

The speaker faced a loss of support, negative publicity, and damage to their reputation, which threatened their career and credibility in the industry.

How did the speaker rebuild their reputation and career after the setbacks?

The speaker focused on rebranding themselves, becoming more visible and approachable, building trust with clients, and establishing relationships with other professionals.

What is the speaker's advice for building trust with clients in the real estate business?

The speaker advises getting to know the clients' interests and desires, being transparent about one's own values and principles, and consistently delivering on promises.

What are the three crucial steps the speaker suggests for closing more deals in real estate?

The three steps are offering solutions, building trust, and mastering the art of closing.