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his market has been brutal! No?! How's your income? I suspect it is either about the same or worse than last year. Am I right? I'm not just pulling this number out of my hat. In fact, according to our latest survey, 59% of agents say their income is worse than last year. Another 21% say it is about the same. So, 80% of all agents’ income either stayed the same or got worse than last year.
80% of all agents income either stayed the same or got worse than last year..
ow do you explain this drop in income? 48% of agents said they did not have enough customers. So, they didn't have enough clients coming their way. 27% of agents blamed it on "poor market conditions". In other words, they have plenty of clients, but often they can't get financing.
Less than 1% said their income stayed the same or got worse because they lacked training..
n an agent’s business, it is crucial she knows where her customers come from. 82% of agents say their customers come from personal referrals, while 67% say their customers were previous clients. 19% say they received their customers from floor duty, while 6% say they received their customers from their broker.
6% of agents said they received their customers from their broker..
ow, let’s talk about brokerage firms for a second. Brokers for a long time have focused on a three tiered program: 1) Desk Fees; 2) Transaction Fees; 3) Agent Production. When agent production decreases, desk fees and transaction fees must increase in order for the brokerage firm to pay for the plush offices, conference rooms, computer labs, phones, copiers, printers and faxes. This is not to mention paying for the team leaders and brokers’ salary, the secretary, the accounting staff and any committee posts. This is why many of you may be experiencing an increase in desk fees and transaction fees. In fact, 61% of agents pay between $50 - $1,500 in desk fees and transaction fees to their company every single month, while the other 39% pay nothing.
61% of agents pay between $50 - $1,500 in desk fees and transaction fees to their company every single month, while the other 39% pay nothing.
eeping up with all the changes in real estate may seem like it’s a daunting task. While I believe education and training is very important in real estate, I don’t buy into the notion that the best agents are the most trained. An agent with business cards, a gift of the gab, a good business acumen, and determination to make it in this business will make it over any agent with all the training but none of these “soft skills”. With a background in education, leadership and management, I can say that. I started out with one of the largest franchise brokerage firms in the business. This brokerage firm relied heavily on education and training but I had to pay to attend classes in addition to the 36% I was giving them in commission. At the time, when I was “in the system” I wouldn’t have dreamed of leaving this company for another that didn’t provide all of this training and education. A month after I had left this company I wondered why it took me so long to leave. Less than 1% of agent’s, in the survey, said their income stayed the same or got worse because they lacked training.
Less than 1% of agent’s said their income stayed the same or got worse because they lacked training.
t Brown & Brown Realty, we make it simple. We give you the maximum amount of commission while providing you with a feature rich, state-of-the-art website package with 18 professionally designed themes to choose from, 30 active content pages, and over 100 pre-written real estate content pages to choose from. You also get a couple of mortgage calculators, an unlimited number of contacts you can store as well as an unlimited number of contact groups! You also get an email address with 100 MB of storage. That's 50 MB's of storage more than RealTracs! This package retails for $299. You're not going to have to pay $199 or even $99 for it. We're giving it to you for FREE, IF YOU SIGN UP TODAY, just for joining our firm!
FREE State-of-the-Art Website Package for Joining our Firm. That's a $299 value!!
eing a great agent requires that you have all the tools for the trade. We have a starter set of business cards ready for you to start today. CALL TODAY and get 15% off of all business cards, for sale signs, and sign rider orders! We also have a FREE 1-800# for you to assign to each of your listings that captures the callers cell phone guaranteed. They can’t block the call capture! You will never miss a buyer driving by your listing again.
kay, I am sure you are saying to yourself, "What's the catch". Well, if you are looking for the traditional office where you can come in, attend mandatory meetings ...we're not that kind of company. With all of the free training going on through local associations, realtor.com, REBar camps, and thousands of online training vendors, you don’t need a brokerage firm requiring you to attend mandatory training sessions. We do have however have online training sessions and videos in our agent back office for you to use to build your business.
mbrellas are very useful when it rains and that’s why when you need it, you have an office in which to meet clients. Most agents are mobile these days, so they usually meet clients at either their house or public places anyway. But, in case you need an office, one is available for you. We have two locations (Brentwood and Green Hills) where you can meet with clients should you find it necessary in your daily activities (a $5,000 per year value). You can fax, scan, and make copies there too. There is even a secretary that you can hire to assist you for a small fee.
alking with clients nowadays is the norm for most agents. That’s why our business model is one based on the Virtual Office Model. It makes good economic and business sense to do this. No more driving to the office…current files are always a few steps away. The old model of storefront realty offices are becoming passé. Office rent is expensive, usually $1k-3k per month, which cuts into our agents bottom line. That’s $12k - $36k per year! We prefer to give that back to you in an excellent commission split. If you do need to meet in one of our offices, it is $10 dollars an hour. I have used the office four times in the past year to meet clients and clients. That’s only $40 dollars! We feel it’s more important for you to be given all the necessary tools to succeed in real estate. This is why we have cutout the middle man like paying salaries to brokers, team leaders, executive committee members, and secretaries. Most agents pay double that every month just in desk fees.
Brentwood Location Green Hills Location
know! You want to know how much it’s going to cost you to have your very own state-of-the-art website (a $299 value), your very own email (a $50 a year value), two office locations (a $5,000 value) with 10 offices in which to conduct business, discounts on signs, riders, and a free 1-800# for all of your listings…a total value of over $5,349 dollars per year! If you call today, you will not pay $18,000 per year or even $10,000 per year. You won’t even pay $2,400 per year! In fact, you’ll pay half of that per year or only $1,200 per year! And actually, if you make a onetime annual payment, we’ll give you one month free! Alternatively, if you choose to pay per month, it is $100 per month.
How does 100% commission and either $1,000 per year
or a monthly fee of just $100 per month sound?
ake what you normally pay in desk fees, transaction fees and commissions and if it’s less than $1,200 and you everything we offer for just $100 per month, you had better stay put. If however, you are among the 61% of agents out there paying desk fees and transaction fees do yourself a favor and cut the cord! No other firm in the area is offering this. I am getting calls constantly asking me, "Dean, how can you do this?" It is simple; we cut out the middle man! Now you'll have more money to afford things like, professional photos and virtual tours, staging consultations, QR code riders, Realtor.com enhanced listings, Top Producer, and many other forms of marketing for your listings.
Best of all, we make it very easy for you to get started!
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