Low Commissions: Don't Give Up

Written by Realty Times Staff Posted On Sunday, 06 September 2020 05:00

One hundred percent of people who go into the real estate business have good intentions and high expectations. It is easy to see why. Real estate is a lucrative profession offering great rewards to those agents that know what they are doing.

The problem though is that not every agent is good at it. Here is a sobering thought. Roughly seventy percent of all real estate agents quit during their first year in business. They don't always leave right away, though. Sometimes they hang around in a state of "quit" for years before they finally clean out their desk and walk out the door. Some people even get part time jobs before they leave real estate for good.

But will quitting solve your problems? You didn't get into real estate sales to fail. My guess is that you got into real estate sales as a means to an end, to make your and your family's life better. If your commissions aren't paying your bills, don't get out of the real estate business, get into it!

My first year in real estate I sold five homes -- and two of those fell through. I wanted to succeed so much that I worked 12 hours a day, 7 days a week. At the end of this first year I looked back and realized that whatever it was that I was doing wasn't working.

After a year under a broker who gave little instruction -- I found another broker to work under and learn from. This guy told me what to do and I did it. The result? I sold 91 homes my second year in real estate and averaged 86 homes a year for seven consecutive years. As a manager, my office of nine collectively listed one house a day for four straight years.

I was not more talented than the next real estate agent and not more educated either. The only thing I did differently was to follow the direction of my teacher. We don't need to reinvent the wheel folks, just do what successful agents already do.

When you are starting out: copy, mimic, imitate. Those are the keys. The top producers I know are more than happy to share their knowledge because they know, just like I know, the secret to true success. You get by giving. I don't know of a successful real estate agent today that wouldn't give you the shirt off their back.

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