The Taxi Driver Who Wasn't Afraid to Grow

The story of a man who had big plans for his future

As big changes in real estate market happen, I’m reminded of a NYC taxi driver who had big plans for himself — all in good time. When I met him, he was busy planting seeds of his future growth. Sound familiar? Let me tell you a story.

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The Cabbie and the Philosopher

Many years ago, I hopped in a New York City taxi. As we took off, the driver asked me why I was all dressed up. “What do you do for a living?” I explained I was a philosopher, on my way to give a seminar about navigating growth and change.

“A philosopher! Really? You make a living doing philosophy?” He seemed quite excited. “What university?”

“I own my own company,” I explained, “I share ideas at conferences, through seminars, writing, mentoring, and retreats. It’s been my career my whole life.”

“Hang on!” he said, dialing his phone. “I need you to talk to my son.”

Hey, Taxi! Let’s Grow! © 2018 MATTHEW FERRARA.

It seemed a little odd, but I was a captive in his cab. He spoke to his son in Arabic, then put the call on speaker. “He’s studying philosophy at school. He was thinking of changing his major to something else. Tell him what you told me - how you made a great career out of it.”

He shoved the phone through the glass divider.

“Hi,” I introduced myself. “Your dad seems very excited to have us talk. I understand you’re studying philosophy. Why are you considering dropping it?”

“My friends don’t think I can make any money,” he said. “I guess I could become a teacher. But I’m not sure. And I don’t want to disappoint my dad, who has worked so hard to send me to college.”

I could see his dad’s eyes glistening in the mirror. I coughed. “Well, listen, I know I’m a stranger but may I offer a suggestion? Don’t try to outsmart the future. If you love what you’re studying, and it fires you up, stick with it. You’ll find a path, even if you don’t see it now. If I hadn’t studied philosophy, I wouldn’t have met someone in class who introduced me to the real estate business, which I had never heard of. That one moment changed my life and my career.”

“But I need to earn a living,” said the son.

“And you will,” I said. “There are many ways to make money. Making money is actually easy. What’s hard is doing good work. Work you love - that makes a difference. Stick with that, and trust yourself. You’ll find a way to succeed.”

I handed the phone back through the window. The driver and his son spoke for a moment, then hung up.

“Thank you,” he said to me. “Thank you so much,” and he turned off the meter.

Why are you growing forward?

This story came to mind after a class recently, where the participants were overly focused on the money aspects of what’s going to happen in real estate. They were psyching themselves out. Who’s going to pay and how was consuming their thoughts. It tempted some to quit, or try to trick the situation rather than aiming to excel at it.

One person told me buyers would never pay; another said sellers would quit offering compensation. First-time buyers have no money, neither do VA borrowers, or low-income consumers! Every objection — all about money — came pouring out.

I called a time-out and asked a question:

“Why do you do real estate? Is it just to make money? You might be in the wrong career, if so.”

I sat and waited for a response. The class was silent. When it started to get awkward, an agent in the front row raised her hand.

“I want to help people live well,” she said.

“I want to help people build wealth,” added the woman next to her.

“This business changed my life,” chimed a man in the last row. “I want to give back.”

One after another, the class started to respond.

“Hold on,” I interrupted, “How come none of you mentioned your commission first? All these reasons for doing hard work — but commission isn’t one of them? Really?”

A few of them looked down, so I continued. “I’m betting that most of you have worked for days or weeks or even years with buyers in the past who never paid you any commission. Not a penny! So, why are you worried about the money now, when you were content to step up before with no contractual promise to ever be paid before?”

Silence.

“Let me offer a possible answer,” I said gently. “Think about your answers to my question. Now, you’re all panicked about the changes but: maybe it’s not the compensation you’re worried about?”

“Could it be that you’re not worried about losing your commission, but about being prevented from pursuing your co-mission with clients?

Suddenly, everyone sat up.

Get Back On Your Mission

By now, most dedicated, serious and professional real estate brokers have things figured out. You’ve studied the law and reviewed the paperwork. You’ve practiced your messaging and can explain the options to both buyers and sellers. With less than a couple of weeks to go, the practicalities aren’t your problem.

So what is? Where’s that panic coming from?

Maybe it’s the worry that the changes won’t just impact your revenue, but your reward.

The real reason you love this career. Not the ability to do a deal, but to make a difference. Not fears of going out of business, but of being left without a purpose.

If that might be so, then remember this:

You’re adapting, but not because of the law alone. Give yourself more credit. You adapt to market cycles, new technology, and consumer needs all the time. Doing tasks in new ways is par for the course in real estate. Anybody can do it to just earn a fee.

But you’re not chasing a commission. You’re going on a co-mission with your clients.

Your new approach - creating contracts with clients up front - isn’t a challenge, but a promise. You’re not asking the buyer to commit to paying you out of charity but in exchange for what you’re committing to them, too.

An equal exchange. A fair trade. A transaction of justice.

Which, by the way, is something consumers like — and usually demand. Like a confirmation for upcoming services. A copy of tickets with their obligated seats in the theater. A contract of carriage from airlines; a written agreement from an attorney; and a clear set of expectations from the contractor, investor, lender, or even landscaper.

Consumers sign contracts all the time because they, too, want the security of knowing that paying a commission commits you to doing your best to fulfill your commitment to them.

And isn’t that the reason you’re in this business in the first place?

Not Driving a Taxi Forever

It’s time to change the conversation in our heads from having to change to wanting to grow.

Maybe even speed up the process. Why wait for August? You can change now! Nothing that will happen in August can’t be offered today. No need to wait for a starting bell.

The answer lies not in the technicalities of how you’ll make money in the future. It’s found in your answer to the question, Why are you doing this, at all? Reflect on that and your worries will be replaced with excitement.

You’re changing not because it’s required, but because it’s something you truly desire!

After the taxi driver hung up the phone, we kept talking about our careers. When we came to a stoplight, he snapped his fingers as if remembering something. He reached across his seat and then shoved a spiral notebook through the divider. “Write something down for me to remember! Any piece of advice.”

I flipped through a few pages, covered with different kinds of handwriting and pieces of advice. A book of quotes! “Who wrote all of these?”

“Different customers. Everyone I pick up. They all have something to say.”

“Why are you collecting them?” Was he writing a book? I began to write my favorite piece of advice.

“I read them when I’m sitting in line, waiting for the next fare.”

“How do they help you?” I asked.

“They give me ideas and encouragement.”

“What for?” I asked

He smiled in the mirror, as the light turned green and we sped off through the city.

“Well, you don't think I want to be a cabbie forever, do you?”

Five Pieces of Advice to Grow Like a Cabbie

Imagine if we could read through some of the cabbie’s quotes in his notebook. Here are five exciting pieces of advice I am sure would have been on those pages. How can you apply them to your career?

1. “Find your Why and you’ll Find your Way.” John Maxwell reminds us to get clear and specific about what motivates us, and nothing can stop us from succeeding. Spend some time thinking about the purpose of your work. How does it make a difference — for yourself, as well as your clients? What’s exciting about your career, that gets you out of bed in the morning or keeps you up late at night? Your purpose is the greatest power behind your success. Write your answers in your journal or across the top of your monthly calendar, so you can see them every day!