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More details here: http://investfourmore.com/2013/11/20/much-money-real-estate-agents-make/
The average income for real estate agents is low. Many sites show agents make less than ,000 or even less than ,000. However, these stats include part-time agents.
Honestly most agents are never trained how to sell houses or do not have the discipline to work without a boss. There are multiple agents in my office that make over 0,000 a year and many more than make over 0,000 a year. Two agents on my team made over 0,000 in their first year.
If you are looking to either sell or buy a home, an agent of real estate can be a huge help. However, it’s not always easy to know where to begin finding a good real estate agent. In this article, we will share some tips and tricks for finding the right agent for you.
One way to find a good real estate agent is to meet one who is in their working environment. It’s not always the best idea to step into an office, as most reputable agents spend little time working at the desk. Also, once you meet an agent, you will want to know a little bit about their work history, namely how many years they have worked and the number of closings they have in their portfolio.
A good place for meeting real estate agents is the open house setting. And don’t be nervous that the agent will be upset if you are not interested in the particular home that they are showing. Real estate agents are always happy to meet new people that they may work with in the future.
Do you have any friends or family members who have recently sold/purchased a home? If you do, call them up and ask about the experience they had working with the real estate agent who helped them. If they received positive results from the agent, chances are that agent will be able to do the same for you.
In the world of today, it’s important to be tech savvy, so make sure that the real estate agent you want to work with is available to speak to online. A good agent understands the importance of being available to answer texts, emails, and calls alike. You will also be able to see any homes they are selling online, which is a bonus if you are looking to move into a new home.
Don’t feel pressured to hire the first real estate agent that you come in contact with. There’s nothing wrong with shopping around to see who will be a good match for your needs. Interview several agents, and make sure that they are realistic about your hopes and goals, and not just telling you what they think you want to hear.
A sign that a real estate agent is a good one is that they are, in general, a busy person. If they have a good amount of clients they are helping, this is a good indication that they are well sought after, and therefore, reputable. However, try not to seek out an agent who is too busy, as they may not have the availability for another client at that time.
In conclusion, if you are buying or selling a home, a reputable real estate agent can get you the results that you are hoping for. Use the tips within this article to find a good, reputable real estate agent. Soon, you’ll be a pleased customer, thanking your agent for a job well done.
Saying all this I’m not going to sign off without selfishly plugging my in-laws realtor in Indianapolis. They were nervous and with me being in the industry wanted me to speak with him first and I would recommend his services to anyone. His name is Ryan Dossey, owner of Christopher Ellyn Homes in Indianapolis, IN. He not only is professional and courteous but took the extra time to help my family during this process find the right property for their family. Christopher Ellyn Homes primarily works as a real estate wholesaler and sends out letters to “Buy My House Now In Indianapolis“. They do however offer traditional realtor services and his firm is top notch.
SUCCESS SECRETS OF TOP REAL ESTATE AGENTS – What’s Working Right Now
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http://expiredplus.com – Borino – your real estate coach – interviews top US real estate listing agents who make from 0,00 to million per year in commissions. These top realtors share their tips and secrets that helped them get more leads, more appointments, and more listings to become successful listing agents. This video was recorded during Borino’s live LEAD MACHINE workshop where over two days agents learned how to get more leads (expireds and FSBOs), how to follow up with them, what scripts and dialogs to use, and how to convert them into great listings and loyal clients.
More Cool Stuff:
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In this session of Broker School we discuss how to determine if you should open a brokerage. We give you a lot to consider and questions to ask yourself in this short video that will help you decide if you should open our own real estate brokerage.
Why do you want to own your own office?
Ego- Control – Freedom – Money – Satisfaction?
Are you financially capable?
How Much capital will you need?
Are you emotionally capable?
Are you prepared for this type of commitment?
Understanding the difference of a business and an income opportunity
Which do you really want?
Do you have the required self discipline?
Can you create a budget and business plan?
Will you recruit? (Prospect)
PROS:
Greater Income Potential
Exit Strategy (Have something to sell)
Renewable Income Potential
Control
CONS:
Increased Risk
Increased Stress
Time Incentive at the Beginning
Do you have additional questions on this topic or want us to start a new discussion for Broker School? Join the conversation — Leave your comments right here on our blog and continue the conversation on twitter @RIOGenesis1
FREE BROKER SCHOOL is brought to you by RIO Genesis. Real Estate Agents and Brokers will now have FREE access to a complete series of lessons on how to open, grow and manage a more profitable real estate office. All offered in short easy to follow “coaching” style videos.
FREE BROKER SCHOOL – Everything you need to know, but no one else will teach you!”
A Guide to a Career in Commercial Real Estate Brokerage
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http://commercial-realestate-training.com/ A career in commercial real estate brokerage can be very rewarding. Here are some tips for agents and brokers or those considering entering the industry. These tips will help you grow your listing opportunities and commissions in office, industrial, and retail property. This is a commercial real estate training video by John Highman. You can get morecareer tips at our website http://commercial-realestate-training.com/
Brokers have untapped assets to reassert themselves this year
Threats to the broker-centric model from alt-brokerages, portals are real and growing.
But brokers have under-appreciated, underutilized assets that can be used to fight back.
On top of historical, legal and cultural advantages, network and data are underpinnings of a significant opportunity.
January is a time for predictions for the year ahead — and this year, strangely, I’ve noticed a sense of pessimism surrounding the broker-centric model of real estate.
To many, it seems as if the end of brokers is near. Yet as I spend time with brokerage executives and study technology trends, I come to a completely different conclusion. The doom and gloom is unwarranted.
Here’s why: Threats to the brokerage-centric model are, of course, real and growing, but the rhetoric that brokers are not in control of their future viability ignores the distinct and powerful advantages brokers have against their specific and systematic competitors.
By leveraging these advantages and assets, in 2017 and beyond, brokers can, and will, reassert their position as the center of the real estate industry.
Unwarranted pessimism?
Let’s take a quick look at the trends threatening the brokerage value proposition. The first to come to mind is the brute-force strategy for capital-rich companies (such as Compass) to flood the agent recruiting market with cash. Regardless of this model’s long-term sustainability, it’s broken traditional agent recruiting paradigms and raises some fundamental questions about broker value propositions.
Another area of disruption is broker-provided technology and marketing infrastructure. Portals are aggressive in providing increasingly valuable agent tools for “free,” not only eroding the value of broker-provided technology and marketing tools in the eyes of agents, but also affecting consumer perception of real estate brands.
Will the day come when being a “Zillow Premier Agent” is as valuable as being a “Coldwell Banker agent”?
Alternative model brokerages (or alt-brokerages) also threaten incumbents, with companies like Redfin and Opendoor going after consumer attention directly. Clearly, these companies have only made a small dent in the overall market, but as they gain further economies of scale and network effects, their impact will only grow.
These pressures on agent recruiting, broker-provided tools, and consumer attention threaten the brokerage status quo and is driving the surge of pessimism.
This pattern goes beyond opinion and rhetoric, however. It’s no coincidence that the frequency and magnitude of venture capital funding into disruptive real estate technology has accelerated in recent years.
Smelling blood, investors have placed bets on companies that seek to slash and burn the current real estate model. Compass and Opendoor have raised over $200 million and $300 million, respectively, and a flood of early stage startups like SideDoor, Reali and Open Listings have entered the market as well.
Taken together, one can’t be blamed for worrying about broker obsolescence.
I, for one, reject this narrative.
Untapped broker assets
I am a cautious optimist. Yes, the broker-centric model is facing serious threats in the industry, and I don’t mean to diminish their importance.
On the other hand, journalists, venture capitalists and even brokers themselves have undervalued the fundamental strengths that brokers have — to not only stave off existential threats, but to also find new opportunities ahead.
Most obviously, the broker is still, and will continue to be, the legal and transactional center of real estate.
This is not a trivial advantage.
Executional experience in risk-management, regulatory maneuvering and financial strategy — especially in a hyper-local industry — are not things that alt-brokerages or tech startups can garner in just a few years, no matter how much cash they try to throw at the problem.
The cultural and personal aspects of the broker-centric model can’t be ignored, either. Brokerages are meaningful sources of agent training, collaboration and community — they are central to how agents run their business.
Consumers clearly value and discriminate by brokerage brand, services and relationships, as seen in the dominance of traditional and local brands dominating most marketplaces.
The most under-appreciated and underutilized asset in a broker’s arsenal is the network and data.
The concept of a broker’s network isn’t anything new — it’s the collective spheres of influence of a broker’s agents. A broker with a large, high-quality network has an powerful platform to leverage for their business, and importantly, it’s a network that by definition, cannot be replicated elsewhere.
This network is the moat that protects brokers who choose to make it a strategic focus.
As a byproduct of this network, brokers have exclusive access to an incredibly valuable data-set of real estate listings, consumers and transactions, all of which are ready to be tapped for growth.
By managing and leveraging their existing network and data asset, they can drive transactions, win listings and even recruit more agents. This is the massive opportunity for brokers to solidify their footing at the center of the real estate universe.
There is a nuance when it comes to network and data, however. Too often, brokers don’t have the capacity to capture the network, extract the data and fully utilize it to their advantage. It’s like sitting on a diamond mine; without the necessary mining machinery, it’s little more than a pile of rocks.
It’s second-nature for brokerage executives to know exactly how many listings their agents won in the last month, but seldom do they know how many active buyers are affiliated with their agents at any given point. This blind spot, among others, keeps brokers from realizing the true value of their network and regaining their strategic edge in the market.
Year of the broker
As with any advantage, these aren’t evergreen. Regulations change, consumer sentiment evolves, and brokerage market share shifts. Yet in my view, in the near future and certainly in 2017, these advantages and assets are still robust and are ready to be extracted.
With the right strategy, partners and tools, brokers can, and have an obligation to, take control over their own destiny — not defensively, but by playing offense against their threats, making the most of the opportunities ahead. The broker head-start is still huge, especially in their network, and I’m optimistic.
2017 is the year of the broker, and it’s just the beginning of a bright future.
Andrew Flachner is the CEO at RealScout, the collaborative home search platform that empowers real estate agents to close more deals faster.
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You passed your real estate exam! Now you need to hang your license with a real estate broker.
Which one do you go to? Take a listen as I lis 15 things to keep in mind as you interview brokers to start your real estate career.
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1 – Commission split 1:00
2 – Internet presence 2:01
3 – Fees 3:33
4 – Brokerage size 3:57
5 – Facilities 7:00
6 – Location 7:27
7 – Training 7:52
8 – Mentor program 9:02
9 – Management support 9:45
10 – Administrative support 10:37
11 – Culture 11:13
12 – Specialties 12:23
13 – Broker’s reputation 12:48
14 – Referrals and leads 13:24
15 – Joining a team 14:33
CBRE senior associate Evan Fiddle recently completed his third year of office brokerage.
Part of his business strategy is using social media not just as a networking tool, but also as a medium for offering advice. His recent post on LinkedIn is an example of how young professionals use social media as a community for learning and growth.
How To Be A Successful Young Broker:
1. Find a mentor/team to work with. Find a senior partner who you can trust and who is willing to be your guide. It is the foundation for your success.
2-4. Invest in yourself. This could have been No. 1. Since it is not, it is numbers two, three and four. A major benefit of office brokerage is that you control your time. This gives you great power and a number of options. Learn how to become more social, more knowledgeable, more presentable and more of what you want and need to be. Improving yourself improves your business.
5. Schedule time to canvass. Cold calling is not fun, but it is critical. Carve out time and honor your commitment. It requires developing a system where canvassing becomes part of your routine, but you need to find what works for you.
6. Be positive. Be purposefully positive. When bad things happen, change your focus and find the lesson or the opportunity. Anyone can do this — read “The Obstacle is the Way” by Ryan Holiday for more inspiration.
7. Be present. Simon Sinek had a good interview recently on Millennials in the workplace. When you are in a meeting, really be in the meeting. Listen. Take notes. Ask questions. Do not look at your phone. You will learn much faster.
8. Say no. Do not say yes to everything. Consider who the person is asking you to do the assignment, the time involved to complete it and the potential money that can be made. If you find the “right” way to say no, your decision will be respected.
9. Don’t compare yourself to others. Comparing yourself to others only guarantees negativity. It is extremely hard to avoid, especially in a job where promotions are based on how much money you make. This realization came while reading “The Gifts of Imperfection” by Brene Brown. “I can’t tell you how many times I’m feeling so good about myself and my life and my family, and then in a split second it’s gone because I consciously or unconsciously start comparing myself to other people,” she wrote.
10. Understand your value. Young brokers are extremely valuable. You have time, new ideas, new relationships and new perspectives that can help your senior broker. Know you possess this value and make sure your senior broker realizes that.
These are 10 great ideas to get you motivated and thinking about how to put them into everyday practice. Have a comment to share? Connect with Evan to keep the conversation going. To learn more about this Bisnow content partner, click here.
