America is flooded with real estate agents. Im just curious as to what you think it takes to be a successful one? Is it more important to have a dynamic personality or be a hard worker? Does it matter who you know? or could you move to a new town with hard work be a success in the industry? Is it persistence that pays off or is it long hours?
Figure four to five% for the dealer(s), and a 30 to 50% cut up for the sellers. Example: $a million,000,000.00 residence Total fee is $50,000. If the directory agent and shopping agent are from specific firms, then each and every will most likely get a million/two of this quantity, or $25,000.00. If the agent has a 50% cut up with their dealer, they get $17,500.00 for this transaction. Keep in brain that sellers typically ought to pay for his or her possess advertising and marketing (commercials, and so on). But, approximately, that is the way it works. Some sellers get bigger or worse splits...
Everything matters: who you know may get you a foot in the door. Dogged persistence will pay off in the end. Dynamic personality will attract clients to you, but you still have to follow thru and deliver the goods. Now, moving to another town is a big handicap, especially moving to another state, because you need to know your territory! You need to know your way around town (all the streets, landmarks, stores, schools, etc). You need to know the flavor and reputation of every neighborhood, each school, churches, community organizations and facilities, etc. It takes years to know a town. Moving to another state, you have to start from scratch with courses, licensing, etc. But the very most sucessful real estate agents have something far beyond all the minimums above. The develop some innovative way of attracting clients and getting referrals. Your ability to innovate marketing techniques that work for you, your personality and style, and your community set you apart from the others. BTW, there is another factor. Have a solid, secure income from another source. Why are so many successful businessmen's wives so successful in real estate? They've put kids through school and know the schools, teachers, PTA school board members. They know the people who count and can pass the word. They have excellent taste, know their way around everywhere, know how to evaluate a floor plan and how the space will live breathe for a family, they've moved and know the shortcuts/tips/tricks, they are accustomed to knowing working with people from a wide variety of backgrounds... In short, they know their town, its people, and the motivations of buyers and sellers. And they are not desperate for the income so they focus on what their clients' wants needs, not their own neediness.
I have been in real estate sales for 30 years now. For me it is that I have gone out and become involved in a lot of groups. Once people get to know me a trust me they feel comfortable in hireing me to work to sell their home or help them find a home. I have met real estate agents that mostly seem to work with people they do not know. They seem to find people off of ad calls or open houses or whatever. If you need a boss to tell you what to do and when then this is not the career for you. You have to organize yourself and get yourself out to work. When you run an ad in a school program but don't show up at the game or concert or booster club- I think that is wasted money. Only back the events you will show up at. Make a list of what you need to do and when and do those things. Always have a long list of things to do and work hard at doing those things as quickly as possible. An example for me. I pass out calenders to established customers and people I hope to have as customers. I have a list of about 300 households. I feel like I need to drive out and knock on their door and hand it to them over the next six weeks so that so that they see me face to face at least once this time of year. That is 50 a week and I am more likely to catch them at home on weekends so that is when I schedule going out to see them. I schedule some sort of personal marketing at all times. The important thing is that I get them to see me as often as possible so that when they think of real estate they think of me.
I knew a woman who did not seem to have too much personality but was a very persistent person who became a successful agent after leaving a job as a teacher.
