Building My Real Estate Business… One Mistake at a Time
If you’ve ever wondered how to build a successful real estate business, I have the perfect blueprint for you.
Step one: make a ton of mistakes. Step two: survive them. Step three: repeat step one until you have enough stories to make people think you’re an “experienced” agent instead of a “walking cautionary tale.”
Truth is, I didn’t just wake up one day with a thriving real estate business. No, I tripped, stumbled, and face-planted my way here — and somehow turned the wreckage into wisdom.
Today, I’m the Managing Partner of The Agency Oklahoma — a luxury real estate brand with over 140+ offices worldwide, representing clients from Beverly Hills to Barcelona. But here’s the thing: I’m not building a huge, bloated roster of agents. I don’t want “just anyone with a license.” I only want the best. And I’m not talking about “best” as in biggest sales volume. I’m talking about people with integrity, character, and a client-first mindset. Skills can be taught — character can’t.
And while we take the work seriously, we also make sure people love being here. The Agency isn’t a cubicle farm where agents hide from each other — it’s a collaborative, drama-free environment where we push each other to grow, celebrate wins together, and have a little fun while we’re at it. Because if you’re going to spend most of your waking hours working, you should enjoy the people you’re with.
Mistake #1: Thinking "I Can Do It All Myself"
In my early days, I thought hiring help was a waste of money. Why pay someone to do marketing, paperwork, photography, or staging when I could do it?
Well, here’s the thing: I could do it… poorly.
-
My “professional” listing photos looked like they were taken on a flip phone from 2004.
-
My “staging” skills mostly involved hiding laundry in the oven.
-
And my transaction management? Let’s just say I learned very quickly that “losing a document” and “delaying closing by two weeks” are best avoided.
Lesson learned: hire great people and let them do their thing.
Mistake #2: Believing Every Buyer Is a Buyer
I used to get excited when a buyer said, “I’m ready to buy a home!” What I didn’t realize is that “ready” can mean “ready to look at houses for the next 14 months and then decide they actually want to move to Montana.”
I’ve driven clients around for days, shown them 37 homes, and then learned that they:
-
Weren’t pre-approved.
-
Hadn’t sold their current home.
-
Or, my personal favorite… just wanted decorating ideas for their cousin’s place.
Now? No pre-approval or proof of funds — no showings. I value my time, my gas, and my sanity.
Mistake #3: Saying Yes to Everything
If someone needed me to show a home at 10:00 PM on a Tuesday, I said yes. If someone wanted me to list their house for $200,000 over market value “just to see what happens,” I said yes. If someone wanted me to help them buy a chicken farm in exchange for “future referrals,” I… well, you get the picture.
The result? Burnout. The kind where you fantasize about becoming a barista because “coffee doesn’t argue with you.”
Now I’ve learned that the magic word in real estate isn’t “yes” — it’s “no, but here’s what I recommend.”
Mistake #4: Thinking Expensive = Effective
I once spent thousands on an ad campaign that looked beautiful, felt important, and… produced exactly zero leads. It turns out that just because something is flashy doesn’t mean it works — especially if it’s targeting the wrong audience.
Lesson: marketing without strategy is just a really expensive hobby.
Mistake #5: Forgetting That People Remember How You Made Them Feel
Early on, I was obsessed with numbers — sales volume, price per square foot, days on market. I forgot the most important stat: client happiness.
Real estate is stressful for clients. If you can make them feel understood, protected, and confident, they’ll remember you long after they’ve forgotten what they paid in closing costs.
That’s how I went from “transaction chaser” to “relationship builder.” And yes, it pays better in the long run — and it’s why The Agency Oklahoma focuses on trust, service, and results instead of just numbers on a spreadsheet.
Mistake #6: Hiring the WRONG People
The biggest mistake I have made in my career? Hiring the wrong people. Yes, HUGE mistakes with this one. It’s the kind of lesson that costs you money, sleep, and possibly a few years off your life expectancy.
I’ve gone through enough issues and drama with previous team members to make an entire season of reality TV. I lost tons of business because of bad hires — and I’m not just talking about “not a good fit.” I’m talking theft, lies, manipulation… you name it.
One person I hired could have had their own episode on Dateline. And I’m not exaggerating — the story would’ve had dramatic music, grainy reenactments, and a narrator saying, “Friends say they never saw it coming.”
The silver lining? Every bad hire made me sharper about who I bring into my world. Now, if someone joins The Agency Oklahoma, it’s because they’re not just great at real estate — they’re great human beings who will contribute to a positive, collaborative, fun culture.
Mistake #7: Listings — Taking Every Single One
Yes, I get calls from sellers asking to interview me. In the beginning, I took every listing that came my way. If you had four walls, a roof, and a pulse, I was your Realtor.
But I quickly learned that was a huge mistake. These days, I take about 75% of the listings I’m invited to see. Why? Because I’m also interviewing the seller.
I’ve realized that not all personalities mix well — and if I can tell within 15 minutes that the seller and I won’t survive working together, I politely decline.
I can already hear the red flags in some conversations:
-
“I know my home is worth $150,000 more than the identical one down the street.”
-
“I’ll only sell if I get my dream price… and I’m not in a hurry.”
-
“Oh, and I’ll be handling all the showings myself because I know more about selling than Realtors.”
When those moments happen, I smile, thank them for their time, and walk away — because experience has taught me that not all money is worth earning, and not all listings are worth taking.
The Biggest Lesson of All
If you’re building a business, you’re going to mess up — repeatedly. But here’s the good news: mistakes don’t just teach you what not to do; they shape your style, your systems, and your story.
Today, as part of The Agency, I take those lessons and combine them with world-class marketing, global reach, and a handpicked team of the right people — not the most people. People who are here for the long haul, who believe in integrity, and who actually enjoy showing up to work every day.
Because at The Agency Oklahoma, we’re not just selling homes — we’re building a culture where agents can do their best work and have fun doing it.
If you want to work with someone who’s been there, done that, and built a career on lessons learned the hard way — with the global power of The Agency and a team you’ll actually enjoy working with — you know where to find me.
Wyatt Poindexter
The Agency Oklahoma
405-417-5466
www.WyattPoindexter.com
