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Are You An Average Agent?

By
Real Estate Agent with Coldwell Banker Dynasty

   Recently while having a cold iced mocha frapaccino at a local Star Bucks, I was overhearing a couple of people on the next table talking about homes, mortgage rates, and prices. The next thing I heard is this lady asking the guy in front of her if he is an average agent? First the guy seem offended and then speechless. The lady then said that doesn't most real estate agents know this much or do this and that and how is he different then the rest?

Don't be an average joe

    This is very interesting but I didn't want to bud into other people's business even though agents different in a vareity of scopes. According to the National Association of Realtors, the average agent sells about 3-4 homes per year and plently of them 0 per year, while 90% of the transaction is done by the top 10% of the agents. I also learned that the average career span of an agent is 5 years where a majority of new agents leave the field within 9 months.

    Even though I have not been in real estate full time for 5 years and might not have over 100 transactions per year to consider myself in the top 10% agents yet, I know that I am not an average agent because my mindset is different and I am actually doing things to make sure I am not an average agent.

    Don't want to be an average agent? Change your mindset, have goals and follow a productive schedule, have systems to generate and follow leads, get contracts signed, and constantly learn. If we follow this we would all be super agents.

Be a super agent

Carla Dimond
CATARRA - Mountain View, CA
(Silicon Valley)

Interesting stat, I knew most new agents were gone in the first year but I did not know the 3-4 transaction #.  Thanks for sharing

Sep 15, 2010 06:02 PM
Stacey Smith
Keller Williams Realty - Aliso Viejo, CA
Your Orange County Beach Cities Realtor

You cannot achieve greatness if you settle for average... Great post, I am going to reblog it!

Sep 15, 2010 06:03 PM
Joan Valverde
HomeSmart - Colorado Springs, CO
GRI,CDPE,CNE,MRP,SRES Colo Sprgs, Blk Forest, Monu

Song San, good post, you are right, we should all strive to be BETTER THAN AVERAGE, BE THE BEST THAT WE CAN BE!! for our Clients sake!

Sep 15, 2010 06:07 PM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I can remember when I got into the business.  The instructor at our class said, "A year from now only two of you will still be in the business".  I said to myself right then and there, "I'm going to be one of the two."  As it turns out, I'm the only one still in the business.

Sep 15, 2010 06:08 PM
Ben Benita
Ben Benita - Gainesville, VA
Speaker, Author, Game Changer, Coach

dead on.....80% of EVERYONE'S business comes from the top 20% of their efforts.....80/20 principal.....

Sep 15, 2010 06:11 PM
Pat, Ben and Martin Mullikin
M3 Realty - Brookfield, WI

People do love to mess with our brains, don't they? AVERAGE is one of those words that can mean so many different things depending on the context. Think about it.... Average price, average height/weight, average DOM, average intelligence, average production, average income, average grades, average temperature, average rainfall. We DO NOT want to BE average, do we? We're bred, born and raised to believe AVERAGE is really BENEATH US. Statistics can be skewed so easily by just manipulating the data. Calculating the sales performance of real estate agents to find the average.... what group of people over what period of time in what location was used to calculate the numbers? Were they all full time agents? What percentage was part time. How many hours a week/month/year constitutes full or part time? How many were on teams? How many MEGA AGENTS actually have teams of 10 to 30 people producing numbers that get booked under the one MEGA name?? Average is a misnomer. Don't get sucked in.

Sep 15, 2010 06:15 PM
Stefan West
West Realty - Murrieta, CA
Temecula-Murrieta-Menifee CA Real Estate

Thanks for the stats!  I feel better after a challenging day!

Sep 15, 2010 06:15 PM
Lisa Orme
The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY - Windsor, CT
Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu
It always amazes me how you can go out almost anywhere, and if you just listen for more than 10 minutes, you will hear SOMEONE talking about real estate, and you don't even have to bring it up yourself! Unfortunately, if that guy didn't have an answer to her question, he probably WAS just an average agent! Of course, given the market conditons, anyone that is still in this business in two more years will be able to say without a doubt that they are NOT just an average agent!
Sep 15, 2010 06:15 PM
Diane Friesen
Century 21 Coastal Realty Ltd. - Surrey, BC

Wow - being new I didn't like the stats even though I know they are true.   I am trying to set my mind right from the beginning not to be average.

Sep 15, 2010 06:18 PM
David Lee ~ Orange County, Ca ~ Cash Flow Specialist
United Realty - Garden Grove, CA

Every time I read that statistic (how 10% of the top agents do 90% of the deals), it boggles my mind. I'm sure no one wants to be average and neither do I. It truly does all begin from the mind. I believe if you're mindset isn't right, then you've already failed. great post!

Sep 15, 2010 07:10 PM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I know the stat well and no I am not an average agent.

Sep 15, 2010 07:14 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Thanks for sharing th stats.  Song, you may not be in the top 10% yet, but you're well on your way getting there.  If it's mind over matter, then you've already arrived.

Sep 16, 2010 01:45 AM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

80/20 all the way and I've been thanked at the end of many transactions for not being a "typical" agent.  I've heard it from lenders and clients alike.  Thats a fabulous thank you and I'll take it everytime.

Sep 16, 2010 12:57 PM
Song San
Coldwell Banker Dynasty - Rosemead, CA
Broker, MBA

Carla: Knowledge is power. Keep on learning.


Stacey: Thanks.


Joan: That is what all clients looking for, the best agent.


Tammie: That is great.

Sep 16, 2010 05:45 PM
Song San
Coldwell Banker Dynasty - Rosemead, CA
Broker, MBA

Ben: The 80/20 rule seem to work for everything else.


Pat: You are right. Thanks.


Stefan: We all love a good challege.


Lisa: Right on. It takes a lot of work to hang on in this economy.

Sep 16, 2010 05:48 PM
Song San
Coldwell Banker Dynasty - Rosemead, CA
Broker, MBA

Diane: Having a strong mindset is very important to be successful.

David: Thanks.

Elite Home Sales: Thanks and many agents don't want to be average.

Leah: Thanks for the feedback.

Kim: People know when we are not working to our fullest.

Sep 19, 2010 11:47 AM