Ever wonder how the big agents earn so much money? Why is that some agents make fortunes selling real estate and others barely make a living? Do you remember the 80/20 principle? Where 80 percent of the business is done by 20% percent of the people? Well in real estate, they (NAR) now claim it is 7/93. That is that 7% of the agents get 93% of the business. Well, I am not sure how they determine this, but there is one thing that is certain. The majority of the money is earned by only a small minority of the agents. Doesn't it make you wonder what the difference is? With so much information available, why isn't everyone at the top of their game? When I asked myself this question, I began to look for answers. And do you know what I found? I have found that there is a big "untruth" out there. I found that most agents believe that all that is separating them from the big money is information. They believe that if they only knew what the others know, success would be theirs. If information alone were the key to your success, you would still have to be sure you are getting the right information, wouldn't you? And there lies yet another problem. Not only are you told to get more information, you are more than likely getting the wrong information. Let's face it. Most agents with a little bit of experience are capable of seeing a transaction through from beginning to end. Yes, some are better than others, but most can get the job done. The first misconception is that you have to be great at what you do in order to get more business. And it is not true. It's the "build a better mouse trap" theory. If it's better people will buy it. Bull! Nothing can be further from the truth. Being a better agent by itself will not make you any more money. In order to first become a real estate agent, you must take a course and then a test. Once you pass the test, almost everyone asks the question, how do I find deals? They didn't cover this in the course, did they? And while most all ask this question, only some find the answer. But there are still some top producing earners who bring in big money. How? Well most of them have teams. When you see someone say they did 300, 400, 500 transactions or more last year, they can't do it alone. There isn't enough time in the day. This is not to discount their success though. They are good, very good. The only reason they are able to have a team and do those kind of numbers is because they do know how to find the deals. So well in fact they can give them out to team members. You see, they are not so big because they have all of theses people working with them. They actually have all of the people because they have the ability to keep them busy. They know how to get business. So the question now becomes, how do they bring in so much business? And the answer is marketing. They have become far better marketers than agents. This is why they are able to make the money that they do. When I say marketing, I am not talking about the typical things that real estate agents do. What most agents do is not marketing, at least it's not effective marketing. This is evident by the fact that most don't know where their next deal is coming from. The bottom line is that very few real estate agents know how to market their business. This may sound negative but it is not. The fact is that this is the greatest opportunity for you. With so few doing it, it's actually easy to succeed. Unfortunately, most of the informationt that is available won't help you. If you tried any of it and it didn't work, then you know what I mean.
Article Source: http://www.articlecontentprovider.com/articlesubmit
Ever wonder how the big agents earn so much money? Why is that some agents make fortunes selling real estate and others barely make a living?
About the author: Vince Testa is a real estate marketing expert, coach, and consultant. Get your Free Marketing Tips and Real Estate Advice here. Feel free to grab a unique version of this article from the real estate marketing Articles Submission Service
Please Rate this Article
5 out of 5 4 out of 5 3 out of 5 2 out of 5 1 out of 5
