Marketing Tips To Increase Your Real Estate Income!
by Vince Testa
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 realize the old 80/20 principle, where 20 percent of the agents produce 80% of the business is now 7/93 according to the NAR. That is that 7% of the agents get 93% of the business. Although I am not certain these numbers are completely accurate, there is one thing I am sure of. Most of the business is being done by only a few 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.
It'not more information that will make you more successful. If it were, there would still be another thing to consider. You would have to be certain that you are getting the right information. I believe that most agents are able to do what it takes to complete a transaction. It's true, some are not as good as others, but most can do it. And here is the first lie. Alone by itself, becoming better at being an agent will will not increase your income significantly.
When you decide to become a real estate agent, the first thing you do is take a licensing course. Then you need to pass a test. The first thing that then pops into most minds is this. How do I make money at this? Something they neglected to cover in the course. But you are not alone. There will always be lots of competiton in any business that is easy to get into with the promise of making a lot of money. Most newly licensed agents don't have a clue of how to make money at this. Most turn to their brokers for help, but in many cases that dosen't help much, if at all.
So, how do those big earners make all of that money? How do they do hundreds of deals a year as they claim, when the average agent only does a handful? One of the things they have in common is that most have a team. They couldn't possibly do that much alone. But that is not why they are successful. Many people make the mistake thinking they do so well because of the team, when in fact, it's the other way around. They are able to have a team because they know how to keep a team busy. They can keep them busy beacuse they know how to bring in business.
How do they do it? Marketing! It's how good they have become at marketing that makes them money, not how good they are at real estate. If you think of marketing as sphere of influence, farming, post cards, fsbo's expired's, etc., you have been lied to once again. If you tried any of this stuff, you most likely found it doesn't work as well as you had hoped. If you are waiting for the next deal to come to you and don't have a clue as to where or when it is coming, you are not marketing effectively.
Quite frankly, very few people know how to market. Even less of them are selling real estate. This is why the door is wide open for you to succeed. If you want to be a success in real estate and bring in the big money, you will have to become a great marketer, well at least better than your competition. And you will be surprised to learn why the information that's being sold out there alone can not help you. It takes more, and no one else is telling you this. If you have ever bought a marketing program only to be disappointed at the results, then you know what I mean.
About the author: Vince Testa is a real estate marketing expert, coach, and consultant. Get your Free Marketing Tips and Real Estate Advice here. You are welcome to reprint this article - but get your own unique content version here.
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