Marketing Tips To Increase Your Real Estate Income!

What sets the big real estate income earners apart from the average agent who barely makes a living? Have you ever asked this question?

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.

Let's see how this really works. You decide to become a real estate agent because you think you can make a lot of money, and you can. You take a short course on licensing and you go and pass the test. Your first question will be, how do I get business? They didn't cover that in the course, did they? As if that isn't enough to discourage you, there are thousands of others with the same idea. They too are getting their license. In any business where the potential earnings are high and the barrier to entry is low, you will have a great deal of competition. Many people get their license and then don't know how to get their first deal. Who do you turn to? Your broker? He will train you because he knows how, right? Well, in most cases the broker isn't much help. Think about it, They depend on you to bring in business for them. If they were great at it, they would be giving you deals to follow up on all day long. But they don't, because they can't.

Why is it that most agents only do a few deals a year and only a select few others are able to do several hundred? Is it because these meaga agents have teams? Is that the difference? Well that is actually deceiving. They are able to have teams because they are successful. It's not the other way around as many beleive. Because they are very good at bringing in business, it becomes necessary for them to hire a team because they couldn't handle the volume by themselves.

So the question now becomes, how do they bring in so much business? And the answer is marketing. They have become far better marketers than agents. This is why they are able to make the money that they do. When I say marketing, I am not talking about the typical things that real estate agents do. What most agents do is not marketing, at least it's not effective marketing. This is evident by the fact that most don't know where their next deal is coming from.

The bottom line is that very few real estate agents know how to market their business. This may sound negative but it is not. The fact is that this is the greatest opportunity for you. With so few doing it, it's actually easy to succeed. Unfortunately, most of the informationt that is available won't help you. If you tried any of it and it didn't work, then you know what I mean.

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Author: Vince Testa is a real estate marketing expert, coach, and consultant. Get your Free Marketing Tips and Real Estate Advice here.
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