by Mark Ferguson, InvestFourMore I love real estate and becoming a real estate agent was one of the best decisions I ever made. When you become a real estate agent, you give up a steady pay check and it takes a while to start making money in most cases. Unless you can start out as an assistant making an hourly wage, you are going to have to save money before you become a real estate agent. It could be a month, three months or six months before you sell a house and earn a commission check. How much money can real estate agents make? It is risky becoming a real estate agent; you do not have a steady income in most situations and it can take months before you make a sale. It can also take years before you become an established agent earning a steady income. Many people ask themselves why would anyone want to become a real estate agent under these circumstances? The biggest reason people want to become real estate agents is you can make a lot of money. In this article I talk about exactly how much money you can make as a real estate agent. The average income for a full-time real estate agent is $54,000, but many agents make much more money. You also are able to run your own business, create your own schedule and invest in real estate easier as an agent. I talk much more about investing in real estate in my complete guide to purchasing long-term rentals. Why does it take so long to make money as a real estate agent? One reason it takes so long to make money as a real estate agent, is [...]
by Mark Ferguson, InvestFourMore Becoming a successful real estate agent is not easy, because takes time to sell enough houses to make a good living. The great thing about being a real estate agent is you can make a lot of money if you work hard, have a plan and stick to it. You don’t have to do everything yourself as an agent; joining a successful real estate team is a great way to jump-start your career and make more money. Being on a team has huge advantages; you learn from experienced agents, you get leads, you have someone to go to for advice and you won’t have to pay for everything yourself! Why do real estate agents create real estate teams? There are many reasons an agent will create a real estate team. The goal of most agents is to sell a lot of houses by building up their client base and getting referrals from past clients and their circle of influence. When a real estate agent builds a big enough circle of influence they will start to see many referrals and leads come in; more than they can handle. Some agents are happy doing enough business to keep themselves busy, while others look to expand and take advantage of all those leads. When a real estate agent gets busy, their first hire should be an assistant to help with contracts and paperwork. After the agent has an assistant to help with the busy work and they still can’t keep up, they look to hire more agents. The agent who starts a team will make money off the agents they hire, because they take a split of the agents commissions. Some lead agents will provide [...]
BY JESSICA SCHWEPPE, Services for Real Estate Pros Have you ever considered working as a real estate team, or are you already part of one? If so, there are a lot of benefits to working as a dynamic duo, and if not, you may want to think about it. Stats from around the industry show that team agents tend to get more leads than solo agents... but why? Top 5 reasons real estate agent teams get more real estate leads: Reason #1: More Options = Broader AppealThink about home shoppers and sellers... in most cases, there will be two decision makers, sometimes even more. So it should be no surprise that having two agents, each with a unique personality, skill set and disposition, can increase the likelihood of home shoppers wanting to work with you. Reason #2: Two Brains Are Better Than One Think about it, as a buyer or seller, would you rather have one person helping you find or promote your home... or two? Real estate teams have more manpower, therefore can theoretically accomplish more than a solo agent can. Even if the search or promotion strategy ends up being the same as that of an individual agent, the perception is there. Reason #3: More Marketing Dollars & Connections As a seller, when the amount of exposure your property is going to get is directly tied to the amount of money your agent is willing to put into promoting it, seeing two faces means having access to two wallets and two sets of networks. That in and of itself can be very powerful, especially when the agents have been in the industry for a number of years. Reason #4: More Testimonials With two agents working with more [...]
Within our industry there is a simple truth: not every customer you come into contact with will buy. Anyone in sales can tell you this, yet very few salespeople actually conduct their business with this concept in mind. Too often the desire for a potential sale trumps all other logic and qualifying is forgotten. We have witnessed agents so blinded by the chance for a 6-figure commission that they completely missed the signs suggesting that they were in the middle of a scam and were only brought back to reality upon their client's arrest- true story! Well into an executed contract that agent's time and money was wasted and their reputation damaged. The art of qualifying- actually determining the ability and motivation of a client to purchase, is one of the most useful skills one can acquire and should be the first skill developed. Get to know your clients; not just their property criteria but what type of lifestyle they live and their intended use for the property. The more information obtained, the more clear the situation and the easier it is to notice when things just don't add up. As a professional, your time is valuable and should not be wasted. Yes, assist and educate but also prioritize your clients and determine quickly who is worthy of your time . . . and don't be afraid to walk away from those who aren't. As a boutique brokerage, we have an opportunity to work closely with our agents and offer insights that may help them take their business to the next level. If you feel you would benefit from this type of collaborative environment, feel free to contact us.
•65 percent of agents with High D’s are extremely successful. •58 percent of agents with High I’s are extremely successful. •42 percent of agents with High S’s are extremely successful. •28 percent of agents with High C’s are extremely successful.
The Showing Assistant is an individual who is highly sociable, draws energy from working with people, and is optimistic and outgoing. They will have a strong sense of urgency, but not at the expense of quality. They have a compelling desire to support the lead agent in achieving success, while being committed to growing their own skills and developing into a leader within the group. After the Buyer’s Agent performs a needs analysis, that individual will pass the desired criteria to the Showing Assistant. The Showing Assistant will pick up the baton and help find homes that meet the criteria, help set up showings, and he/she will drive buyer clients to those homes. As clients explore homes, the Showing Assistant will work with clients to confirm or refine criteria and will show additional homes as needed. The Showing Assistant will close buyers to contract offers, then pass the client back to the Buyer’s Agent. A Showing Assistant should be able to successfully show homes as much as possible, as he/she earns commission based on a percentage of each deal. The Showing Assistant must have a Florida real estate license in order to meet FREC guidelines, as well as MLS membership in order to qualify and fulfill the necessary duties in this role. Additionally, he/she will be eager to grow into the role of a full Buyer's Agent. Showing Assistants are forward-looking individuals who develop and maintain positive professional relationships. They have a track record of success and a palpable desire to succeed in this role, as well as their next. Primary Job Duties Assist the Buyer’s Agent by identifying homes that meet the criteria as specified by the Buyer’s Agent after he/she has completed a consultation and [...]