Which Personality Types Work Best for Real Estate Investment?

Have you ever taken one of those personality tests that tells you whether you’re an introvert or an extrovert, or what type of job you might be suited for? They’re interesting for sure, and in some cases, they can even help you figure out which of life’s paths to go down.

But how much does personality factor into real estate investing? That’s the question I want to answer today, because in this industry, you truly do see all types of people. I know investors who are loud, outspoken, and aggressive in their tactics. I also know some at the other end of the spectrum, who are quiet and much more passive.

On the surface, these people seem to have little in common, but they do share one important trait: they’re all successful. And that’s because, in spite of their personality differences, they’re all hard working individuals who are committed to their profession.

So when it comes to personality, there is no certain “type” that works best for real estate. Instead, it comes down to things like work ethic, commitment, and grit. The real question is, regardless of your personality, do you have what it takes to stick to it and work hard enough to see positive end results?

Here is some more food for thought regarding personality traits as they pertain to real estate investing:

Labels can do more harm than good. Remember those words I was throwing around a minute ago? Aggressive, outspoken, quiet, passive. While they may be true about certain individuals, these labels don’t necessarily define individuals. In fact, they can hold you back if you’re not careful. If you’ve already labeled yourself a certain way, you may think that it’s not possible for you to behave in a different way. This simply isn’t true. Everyone is capable of change, and if you’re a shy person who finds yourself in a situation that calls for more aggressiveness, you have it in you to be more forward. The is also true for the opposite scenario. Not every circumstance calls for “in your face” tactics, and many people don’t respond well to them anyway. So, in spite of your self-imposed label as an aggressive person, you are capable of toning it down. Don’t live by your labels; be flexible and responsive to changing scenarios.

Focus on your strengths. We’ve all got strengths and weaknesses. Discover yours by taking an honest look at yourself. Once you’ve figured out the areas you’re strong in, play to those strengths. Let’s say you’re a great salesperson, but not so hot with numbers. Focus on making connections with people, and leave the number crunching to your accountant. You’ll save time, and eventually, money.

Let your passion guide you. Passion is an just one element of your personality, but it’s an important ingredient that every investor needs in their recipe for success. Find the thing that makes you tick and brings you joy, and let that guide you along your real estate journey. Maybe you have an affinity for restoring old houses to their former glory, or perhaps you find joy in providing housing to the families who need it most. Whatever it is, incorporate it into your business model; it will energize you and give you the fuel you’ll need when you’re feeling stressed or overwhelmed.

Personality is important in any profession, but it should never be used as a crutch, and you should never allow it to limit you. Success in real estate is non-discriminating; anyone can succeed by working hard, making smart decisions, and taking a leap of faith every now and then.