Do Real Estate Agents Really Want To Make Money?
October 16, 2008
This may seem like a real DUH! moment, but seriously, have you seen or read what is going on in the so-called Re.net? I mean every where I look I am seeing a post about everything EXCEPT making money in real estate.
Today I went to some of the blogs that are considered preeminent in the industry and after suffering through page after page of mindless drivel there was nothing I could take away from ANY of the posts that would allow me to implement in my business today that could have me on the road to making money.
I have begun to think that making money is no longer an objective for many real estate agents. Maybe with the government getting into our business lives it is to be expected that some would adjust comfortably into a Socialist atmosphere.
However, I can’t lose hope on all of humanity and I can’t lose hope in the real estate business that we as professionals in this sector have become over populated by agents who really don’t have the premise of earning a profit as a clear business objective.
Twitter this, and Zillow that, and Homegain and the other thing…whatever….are there any real estate agents left out there that still regard being in business to actually make a profit as being the primary reason for being in business?
One of the reasons we have been somewhat dormant over here at Real Estate Radio is because we have been taking some time and networking with some people in the real estate industry who are absolutely making a killing! I am talking about some people who are making five to six figures per month with little effort. I am speaking with some serious movers and shakers and wondering, where do so many real estate agents go wrong?
Is it the vortex sucking social blogs that get so many writing about nothing that’s got so many trapped? Are the “big dogs” and geniuses of the Re.net nothing more than country clubs for the similar thinking? I really don’t know. But what I do know is that we have been talking to some real money making killers out here in the field away from the blogs and it has really got me wondering…Do real estate agents really want to make some serious money?
Love to hear what you think. We’re going to follow this up with some profiles of some in the real estate industry who are actually making some fat cash and you’ll see what they have to say and what they’re doing.
It’s possible that you might learn some things and one thing I know…when you’re done listening to these guys, you’ll be able to actually do some of what they say and have the opportunity to make some cash that same day!
We know some will be skeptical. Don’t worry, there’s always the usual suspects for you to seek out that familiar, yet dampened shoulder to cry on, but if you want to actually wake up in the morning with a purpose and would like to see cash in hand by the end of the day, then you may want to read and watch our follow up segments.
I mean, that is…if you actually want to make any money.
“are there any real estate agents left out there that still regard being in business to actually make a profit as being the primary reason for being in business?”
Making money is pretty much the point isn’t it? (but I know exactly what you mean). It’s real nice to help someone buy or sell a home for the betterment of mankind and all, but I wouldn’t do this for free.
If I wanted to work for a small pittance and really help humanity, I’d join the Peace Corp.
I sell real estate to pay the bills, feed my children (ever seen a 17 year old boy eat?) and enjoy life. I’m not making six figures a month, but I’m doing OK. Our little eight agent brokerage we just opened in February has more listings and escrows than the 40 agent franchise brokerage we left. Either we’re doing something right or they’re doing something wrong (actually, it’s some of both I think).
Jay..you my friend are the exception and should be applauded.
When I hear the stat that 5% of agents do 95% of the work, I think of people like you. It makes you wonder why the other 95% even bother.
We can go back and forth about the low entry requirements but that is a futile argument and we both know that will never change. But it’s amazing the cleansing that takes place in a down market when so many don’t know how to generate business.
FYI..don’t kid yourself, having an operating and successful 8 agent brokerage ain’t just whistling Dixie. Sounds like you have assembled a very good team. Congrats!
[...] I wondered aloud if real estate agents even cared about making any money. I really don’t think earning a living and creating business and generating a substantial [...]
I would love to be mentored by one of those super agents you mentioned. I have come to find out that most of those agents had relationships with people who could open doors for them. Then of course they delivered the goods and now they have a solid business plan with effective marketing that allows them to dominate a niche.
I am in the process of developing those relationships and duplicating what those successful agents have done. Why reinvent the wheel? Problem is developing relationships takes time and for most agents, the mortgage is due on the 1st so they don’t have time. Then real estate becomes one transaction after another when if you develop good relationships the transactions come.
Hi Noel…one problem with your comment. You say that you would “love to be mentored by one of those super agents”. Where did I say that they were real estate agents?
What I said was we have been “talking about some people who are making five to six figures per month” in the real estate industry. Never said they were agents.
Most agents are constrained by profit limiting beliefs and bad direction and hopelessly misguided information.
My problem is that the so-called real estate professionals are not living up to their label. A professional needs to know how to profit from all facets of their business.
If I go see a lawyer, I expect that even if they have a niche focus like family law, they could still help me with other legal problems. If I go to a doctor for a throat irritation he more than likely help me with a cut on my finger. If I call a tradesmen like an electrician, he can just as well wire an outlet for me as he could install a light fixture.
Why, becasue all that they do helps them increase their income. They are not going to leave money on the table.
Here’s a question for a real estate professional. How many real estate agents would know how to work with a Buyer who wants to utilize a flex option in regards to the purchase and re-sale of a house? How many would even know what the document was? How many realtors would be able to facilitate a deal wherein the Buyer asks the Seller to accept owner financing on a property?
There are sssso many ways to make a deal happen in today’s market it would absolutely astound most real estate agents. They aren’t at all prepared to seize the opportunities in today’s market becasue they are wholly constrained by self-limiting beliefs.
It’s a shame.
Barry….you got me there. I thought the article was directed towards agents. Funny you mention multiple ways to make money in real estate. I have been turning over every stone to make money. Flex options and owner financing are great provided you can get the the parties to understand the process and that it is legal. There is so much misinformation out there that it is really sad.
Hi Noel,
The article WAS directed AT agents. It just wasn’t ABOUT agents. At least not the part about those making a killing in today’s market.
Not sure you intended to but you exhibited a real self-limiting belief in your comment. As a real estate professional…shouldn’t one already know if flex options and owner financing are legal?
Not coming down upon you but that’s the point. Too many realtors find reasons NOT to do business rather than learn how to facilitate business.
Let me ask you a question. Why do you think that flex options or owner financing may even be remotely illegal? Perhaps becasue you don’t know about them?
A real estate professional needs to educate themselves and become well rounded profit rangers that can analyze a deal very quickly and see where the landmines are, what the gross profit potential is, and the overall viability of the deal.
Seperate yourself from the confines of conventional wisdom and FIND a way to make various strategies work to your advantage.
Barry, I said the parites think they are illegal or sounds fishy. NOT ME! Read again!
Ok maybe I mis-wrote. To rephrase: Flex options and owner financing are great provided you can get the the parties to understand the process and understand that it is legal.
Hey Noel,
When I go to the Doctor and he prescribes medicine for my ailment, or if I go to a lawyer he tells me the strategy for my estate…do I tell him he’s wrong or it must be illegal? NO!.
Why, because I trust that he knows what he is talking about and he is a credible professional.
See where I may be going with this?
Yep. One question a lawyer or doctor wouldn’t make a decision based on which drug company or which law strategy would enhance their pocket book would they?
I can’t blame the public for rightfully being cautious of our industry. There are too many gurus and scumbags coming up with “new” ways to “help” them out of their situation like the loss mitigation/prevention companies. They would charge large upfront fees and do little else. 501.1377 attempts to deal with that but like anything the government meddles with, it forces those doing it right to play by tougher rules while the crooks just adapt to it and keep running their scams.
Oops I forgot. Thanks for the comparison to a doctor or lawyer, I am flattered.