I was just reading through a "prominent real estate agent magazine" (I'll leave their name out) and a writer there states something of the following (I'm going to paraphrase).
As a new agent, you will be working with a lot of buyers, because you will be out talking to people, shaking hands, holding open houses and trying to get floor time. As you progress forward, and you get more referrals, you will be getting more sellers. Your ultimate goal is to work with 80% of sellers and 20% of buyers, so the quicker you can get to this ratio, the better off your business will be.
Hmmmm... I know traditional trains of thoughts were "She (or he) who has the most listings wins" but isn't that old school thinking? I am working with a lot of buyers, perhaps it is because I'm new to the business. But every Realtor out there (especially those in 10-20 years) is asking me how I get so many buyers. Their listings are sitting there, their sellers are anxious and getting upset, and they can't figure out where to find a buyer.
My own humble opinion here:
- Buyers are more leg work, but less cost upfront. I help my buyers with lunch and drinks, but that is small verses the costs of magazine, newspaper, and other advertising that doesn't always work, but sellers expect to see.
- With a buyer, you have options. With a buyer, if the house doesn't work out, you go to the next. With a listing, if the buyer doesn't work out, there is not always a "next".
- I still get referrals of buyers to other buyers. So why would I be waiting for a referral of a listing, and pass up on a buyer?
I guess I'm a "Wild Card" throwing tradition into the wind, but I haven't had a selling agent yet that was upset when I brought them a buyer's offer.