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  • -Given that it's the entrepreneur, not the idea. You built a wonderful company and a fortune on yourself, right. -On people. Not ideas.

  • So what would your pitch have been?

  • To who?

  • To the sharks.

  • -Oh, if I was looking for funding for real estate brokerage firm? -Yes.

  • Wow, that's an interesting quesiton. I never was.

  • I had one guy who offered me $300,000 for 50% of my company, thank God he changed his mind, but that was a lucky break.

  • But what would I pitch.... as a young person started out? -Yes.

  • I'd probably say I don't do anything that the other brokerage firms don't do, but is a proven model.

  • People do brokerage for years, operating on that 5, 6% commission to make the money.

  • I'm really good at people.

  • I know how to spot people.

  • I can hire the right people and I'm really good at firing.

  • I get rid of the losers quicker than a wink.

  • -So I would say to you.... -I'm gonna give 50 million dolloars!

  • -No! Look at all of people who get the real estate license.

  • They've signed up. It's gonna be easy, I'm gonna sale some houses, get a commission.

  • What have you...why, how did you go and build this business?

  • Because I already knew at that point.

  • When I was 23, that I had 22 jobs and I felt that from quite a few of them.

  • I knew there was a lousy student and somehow maneged to survive.

  • I already knew that I, more than any other broker out there, was greater taking a hit and taking a rejection.

  • And what's the essence of world real estate brokerage or in any sales position? It's not how well you sell a talk.

  • It's really how well you can take a hit, and how long you take to feel sorry for yourself.

  • Now when you take the hit, and you come back from it.

  • Are you feeling the hit?

  • Of course you feel the hit.

  • So there's not....if you could get knocked back, that's not the problem?

  • Let me tell you something. The most passionate people, feel the hit the hardest.

  • They feel the hit the hardest because they cared more than the next guy.

  • And you wanna know? I have to tell you. My top salespeople at the brokerage group are earning 7,8 million dollars a year in my average income.

  • For typical salesperson is 48k~50k.

  • And I'm telling you, it didn't come down to context, it didn't come down even to how hard they work.

  • My worst workers. They often work the hardest.

  • They came down to something to prove and getting back up.

  • I'm telling you. That's it!

  • So "something to prove" is difference between "40 thousand~50 thousand dollars" and "7~8 million" a year?

  • Yes. Insecurity is a wonderful motivation.

  • I find at the Shark Tank when I can unravel something in a entrepreneur.

  • where that person has been injured, never had good guidance.

  • Everybody said this about of him, that about of him.

  • They had their shot and they took control of their own universe.

  • They were gonna prove that they could do something.

  • Nothing's better than that.

-Given that it's the entrepreneur, not the idea. You built a wonderful company and a fortune on yourself, right. -On people. Not ideas.

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B1 US brokerage real estate estate hardest prove entrepreneur

Barbara Corcoran explains the difference between those making $40K & those making $8M

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    VoiceTube posted on 1983/09/05
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