The bad news is not only do they end up quitting but also they bad mouth the entire industry saying “you can’t make money in real estate,” just because they couldn’t.
The good news is their failure does not interfere with your success.Here’s the most important concept that you need to master in order to make sure your ends meet:
THE NUMBERSAs a professional it is your job to analyze the market and know the tools to use and how to use them.
For example a modern real estate agent knows they must have a dynamic interactive website that captures leads and is integrated with social media in order to approach today’s buyers and sellers.It’s a numbers game as to how many website visitors it will take to result in a new listing.
You can now take these ratios and use them to drive results for your business objectively.
For example. You launch an advertisement campaign in order to attract listings. As a result 100 leads are generated on your website. You follow up with these leads and get two new listings. You then eventually close one of your listings as the other cancels.
- You spent X amount of money on your advertising campaign which resulted in 100 leads.
- You spent X amount of time screening and qualifying leads which resulted in 2 listings.
- You spent X amount of time managing and promoting 2 listings which resulted in 1 commission check.