Why The Industry Is Obsessed With GCI And Why You Shouldn’t Be.
Do we need to be raking in millions to be considered a career success story?
In real estate, I’m afraid the answer is Yes.
When we think of the word success, or that someone is successful, one often places money at the top of the list for reasons to promote such a title.
And yes, financial success is definitely a thing and there is no doubt that us career driven beings are out to get the dollars (amongst other things) but it’s not just about the money, or is it?
Success comes in all forms and what I find particularly fascinating, is that it can mean different things to different people.
What I consider success may be completely different to what you, or the next person considers success and this is the real mystery surrounding success and how it is interpreted.
Ultimately, success is personal.
You decide what it is for you.
But society has imprinted certain standards and ideals for what one should (and shouldn’t) consider as success, and this is where we get caught up.
If we’re not meeting that societal standard, our self esteem plummets and the shame of feeling less than begins to set in.
But it damn well shouldn’t.
I didn’t consider myself successful until I had a certain amount of money in the bank, and as for career success, it wasn’t until I had a business that was putting six-figures in my pocket for three consecutive years that I considered myself to be successful in this part of my life.
Success for me has long centred around the money aspect, but as I have grown as a person, I have come to accept and embrace numerous milestones for success that have had nothing to do with money or wealth.
Relationships, mental health and friendships to name a few.
In real estate, the pressure to earn more is further fuelled by our industry’s awards and accolades system that typically acknowledge only the highest income earners.
This has always irked me because I feel it doesn’t represent a true and accurate picture of who should also be considered a success in this industry.
What about the agent who does say 5-10 deals a year, earning below the average salary for an agent and writing a lot less business than the “top performers” —— but she’s built a fiercely loyal client base because she puts her heart and soul into giving those people a wonderful real estate experience?
She earns $80,000 a year, works part-time, has time to pick up her kids from school and ultimately, feels fulfilled.
Is she a success?
In my eyes - that’s a big fat yes.
If we place her next to the award winning agent who wrote the highest GCI (gross commission income) last financial year but burnt every second client in the process and had zero time for family, I would happily take that award from Mr GCI and hand it to Miss $80K.
To me, that is not success.
Sure, it indicates financial performance in the industry, but perhaps not necessarily ethics or personal fulfilment.
And these things matter.
Unfortunately, our industry is so far in favour of putting the money-makers on the pedestal that it can be somewhat disheartening for agents who consciously choose to limit their clientele or take longer to turn a deal around for the benefit of the client, rather than focus on volume.
Sometimes it can feel like you’re failing when everyone else is spruiking the numbers.
But we have to find our own ways to give ourselves the pat on the back and validation for sticking to our own game plan and trusting that this is what is best for us.
I have never chased awards or wanted to be a “volume agent” and rather, have focussed on my own set of standards and ideals for my career.
Admittedly, it’s been a lonely road at times, and it has been challenging to dismiss the external validation I know I would receive if my GCI numbers were into the millions.
But I’d rather have the work/life balance so I soon forget about all of that.
For me, my validation comes by way of a client testimonial.
That’s my sugar hit to remind me that I am doing a great job and I am successful.
It can be emotionally difficult to challenge the success status quo in your industry but at the same time, I have found it incredibly empowering to know that I choose to play the game differently to most, and that’s ok.
You can too.
Or you can choose to write millions in GCI per year.
The best part is - it’s completely up to you and either way, you will be a success.
As long as you believe you are.
THE POLISHED PROFESSIONAL
ABOUT THE AUTHOR
Wendy Russell writes about the highs and lows of a career in real estate. She is a self-made woman and Independent Buyer’s Advocate based in Brisbane Australia, representing busy professionals in luxury home purchases.
