There are tons of career choices out there for you. Why should real estate agent be one of them?
You may have asked yourself this question before. Chances are, you’ve encountered a real estate professional at some point – whether you bought a home, sold a home, had one help you with a rental agreement, or just had one who is a friend or family member.
Seeing them work may have prompted you to ask yourself, “Could I do that? And, more importantly, would I want to do that?”
As real estate pros, we think that most people have good reasons to contemplate becoming a real estate agent. It’s not for everyone, naturally, but plenty of people have the chops to become a pretty good agent. The ones who do have just understood the benefits and decided they wanted those in their lives.
Here, we’ll talk about why you would decide to become a real estate agent.
The Secret to Being a Successful Real Estate Agent
Everyone knows that being a real estate agent can be a very lucrative career.
But what many agents don’t know is that in order to make more money, you have to have the right philosophy: focusing solely on doing right by your clients in everything you do.
That is the secret to having a long, productive, and successful career. At LAH Real Estate, our agents know that clients are the lifeblood of our agency. Our agents prosper when their clients prosper, and that’s really the only way it can work.
Agents who focus just on making money are missing the point, and they’re limiting their potential for success. By having a single-track mindset of “make as much money as possible,” an agent is harming his or her long-term prospects, for several reasons:
- Clients talk, and when they have bad experiences, they’ll tell others;
- If you don’t serve a client to the best of your ability when you help them buy a home, they won’t turn to you when it’s time to sell it and buy another;
- Clients won’t give you referrals from their friends and family.
Homebuyers and homeowners want to know that their best interests are being served. They want to know that the agent will go to any length to benefit them. They want a friendly, personable agent who builds close relationships with them.
Possessing all of these traits means an agent will be more successful, ultimately, because clients will want to keep working with him or her and sending more referrals their way.
Keep in mind, though, that your focus must be on client service first, not how much money you can make. That’s just the right thing to do. Our clients deserve the best, and it’s our solemn duty to focus on them first, and ourselves second.
Take care of your clients, and the rewards will naturally flow from that.
How to Maximize Earnings as a Real Estate Agent
Once you’re an agent, how can you make more?
It’s clear, first and foremost, that focusing on providing exemplary client service is the best way to maximize your earnings, and that’s the philosophy we follow at LAH Real Estate. Do whatever you can for your clients and treat them like members of your own family. Money is secondary to that.
Beyond treating your clients well, there are other ways to maximize your earnings. You get paid on commission, so there are two basic ways to improve your earnings: get more listings and represent buyers and sellers who are involved with more expensive property.
The first is easier said than done, naturally; if it were easy, every agent would do it. This is where joining a prominent real estate agency comes in handy. If you affiliate yourself with a strong brand, you’ll have an easier time promoting and marketing yourself because people will be familiar with your agency’s brand. They’ll trust an agent with a reputable name behind them more than they will an independent agent.
The second – landing higher-value deals – is limited by your market, but can be achieved by any agent who wants to learn how to specialize in the higher-end properties in a market area. If you help someone sell a $250,000 home, your 3% commission take (before the agency’s cut) is $7,500. If you help someone sell a $500,000 home, your gross take is $15,000 – and believe it or not, making twice as much money in commission per sale doesn’t usually mean you have to work twice as hard.
Naturally, though, it’s all about balance. There are far more $250,000 homes in a given market than $500,000 homes. You have to find your ideal sub-market – the market within a market – and find the right approach that will maximize your earnings.
If you join a reputable real estate agency, you’ll have help doing this. In fact, one of the best ways to make a great living in real estate is to find an agency that will help you develop as a professional. (That’s one of the things we’ll talk about later in this series.) Long story short, most agents make far more money as members of prominent agencies with strong brands than they do on their own or with agencies that no one knows about.
If you want to become a real estate agent, money is a powerful motivator. But, it’s not the only reason. Check back later as we cover other key reasons why you should consider becoming an agent and joining the real estate profession.
Want to take the first step toward becoming a real estate agency with the area’s leading locally-owned brand? Visit the Join LAH page for more information!