Some pundits say that these days the source of wealth has shifted from real estate to technology. However, it's worth remembering that technology is ever-changing; it's ultimately volatile and very similar in nature to the stock market. Steady cumulative wealth today comes from the same place it always has -- real estate.
The fan-favorite Game of Thrones, that recently returned to screens for its final season, illustrates the rules of real estate and its laws of success --which haven’t changed much over the centuries. With that notion in mind, peruse the following laws of success that remain never-changing and so entrenched in the real estate experience, that they are commonly portrayed and embraced inside -and outside- the world of Game of Thrones.
First Law: Knowledge Is Power
Christie's International Real Estate
Tyrion Lannister says that “[a] mind needs books as a sword needs a whetstone, if it is to keep its edge.”
By incorporating Lannister's motto, we create the first law of success in real estate: knowledge is power. The real estate market, particularly for investment purposes, is meant for voracious readers of real-estate-market dynamics and trends. The more you know, the more you succeed.
If you taste, savor and digest the driving factors of the market in order to develop a keen understanding of residential properties, you'll eventually conquer the real estate market. Your knowledge, like Lannister's, will be the key to your success. Your mastery of knowledge, coupled with your ambition, will be the advantage that will parachute you into the most well choreographed, and lucrative, sales and purchases. Where opulence knows no limits.
Second Law: Hard Work Pays Off
Petyr 'Littlefinger' Baelish says that "[c]haos isn’t a pit. Chaos is a ladder. Many who try to climb it fail, and never get to try again — the fall breaks them. And some are given a chance to climb, but they refuse. They cling to the realm, or the gods, or love . . . illusions. Only the ladder is real, the climb is all there is."
So, believing Littlefinger's maxim, takes us to the second law of success in real estate: hard work pays off. And there’s no substitute for the hard work. Make it diligent work with lots of inspired action because there are no shortcuts to lasting success. And lasting success is what you want.
Permanent success takes mastery. It is not a one-time event, regardless of how much wealth you attain. If you don’t continually practice the maintenance and improvement of your wealth, it will decrease. Even Loras Tyrell, the heir of the second-wealthiest family in Game of Thrones, succumbed to complacency and indifference. Where did his complacency lead him? Benched and eventually ruined.
Third Law: Networking Always Prevails
Tyrion Lannister says if you "[n]ever forget what you are, the rest of the world will not. Wear it like armor, and it can never be used to harm you."
Lannister leads us to the third law of success in real estate: networking always prevails. If you network and make the right connections, you will go far in real estate and in life, so long as you carefully manage your finances and alliances. Stay true to yourself and create genuine connections and you will be unstoppable and highly successful. You’ll easily turn the Game of Thrones into the Game of Homes. And the reward? Living and lounging in the most lavish of luxury lifestyles.
Real estate, like Game of Thrones, can be unpredictable at times, but there still remains these firm rules to success. You want to win the war, not just the battle. When you work passionately, and with perseverance, you reap great benefits from your efforts. And the result? It can be in the form of recognition, awards, money, position, prestige and/or promotion. Your well-earned millions can then effortlessly turn into some luxurious real estate: from high-end penthouses to waterfront fortresses to mega mansions.
Top Image: Sotheby's International Realty
