Updated: Feb 19
Why 99% of all real estate agents fail at achieving a super profitable sales team business and what to do about it.
First, the facts. Almost all agents believe they will succeed. However… 80% of all agents quit the business every 5 years. 95% of all agents earn under $100k a year. 99% earn under $300k a year/1% over $300K.
The average salary for a real estate agent in Georgia is around $44,500 per year.
Getting a real estate coach can help... right?
Not really. Just like there are differences in Dr.s, lawyers, and real estate agents, there are differences in coaches. One coach who refers to himself as #1 has never had a real estate license, let alone built a super profitable real estate sales team business. Another famous coach who believes prospecting is the way to success does not do prospecting to fill his seminars.
The key to any real super success in any industry is to make a list of established norms and standards, then violate them. It’s not a secret, but few pursue it.
Why is this? Well, when you first got your license and got into the business, you looked around at what everyone else was doing and copied them. i.e. The way it’s done around here. And that continues to this day for 99% of all agents and brokers. The numbers above simply do not lie.
Doing what everyone else does gets you what they get.
Most agents eke out a living from their sphere. The most successful though, the top 1%, invest in marketing and become relentless at it. The higher up that pyramid you go, the more marketing that is being done.
To clear that up, buying leads from a lead generation company IS NOT marketing. Giving a 3rd party company your money, they run their own ads, and send you leads is not marketing. Those methods are the very definition of Abdication of marketing. I’m not saying do not buy leads or work with a lead generation company, but it CANT be your main system if you want a real business.
The topmost successful are experts at direct response marketing — a not so secret among 100% of Multi-Millionaire Agents.
Back on the subject of hiring a coach or relying on the Broker, consider this: Real Estate Coach vs. Real Estate Business Entrepreneur Mentor?
A real estate coach can help you become a better real estate agent.
An entrepreneur mentor will help you build a super profitable real estate business that will work without your constant involvement as a real estate agent – provided they have a proven system.
If your real estate business depends on you, it’s not a business, it’s a job. Only a business can make you truly rich. No real job can do that.
How to go from a solo agent to super profitable team business in no time flat!
Which one describes you right now given that if your business depends on you then you don’t have a business you have a job. Real Estate Agent OR Real Estate Sales Team Leader OR Real Estate Business Owner
Building a super profitable real estate sales team business won’t happen overnight, but it can happen fast.
Where would you like to be in 2 to 3 years? A super busy real estate agent helping 24-36 people a year (as that seems to be the ceiling for the solo agent) OR A super profitable sales team leader helping 100+ people a year (no ceiling).
Some believe that in order to accomplish 10 times more you must work 10 times harder. Obviously, that is not true since every billionaire on the planet has the same number of hours in a day as the average real estate agent.
What is the definition of a Super Profitable Sales Team Business? According to the guys who wrote the book on it*: A Team Leader At least one Admin Assistant and At least 2 OSA’s. Helping 100+ people a year buy or sell. Earn 30%+ net income (after expenses). Team Leader only does the parts of the business they choose, with great people and systems in place for predictable results delivering 5-star review service creating lifetime customers.
*Death of The Traditional Real Estate Agent and Rise of the Super Profitable Sales Team! - Todd Walters and Craig Proctor.
What is necessary to grow a super profitable real estate sales team business? On a personal level: Ambition. Discipline and Determination. An entrepreneurial mindset. Association. On a business level: Plan. System. Mentor. Association.
In order to grow a business, you must have an overflow of it, so the fastest growing and most profitable businesses have leaders who are experts at leveraging marketing, people and systems.
What makes it hard to succeed?
#1 would be association. You are the sum total of the 5 people you associate with the most. Underestimating this fundamental principle is why most do not succeed. This IS the proverbial shortcut.
What does my first step look like? Regardless of where you are right now, it will require change. Change in routine, mindset, who you currently associate with and/or learn from.
If you’ve read this far you possess an open mind and believe there’s something more to this business.
Go discover and study those who have been there and done it, preferably helped others do it, and willing to share their life’s work and mentor you on copying and implementing.
Go Serve Big!!!