Brokers in Real Estate are trained from early in their career to recruit, recruit and recruit some more. When you think about it, many companies and Brokers play the numbers game. There are many large Real Estate companies out there that have agents numbering in the hundreds.
Agents are told that the secret to their success is listings. Even in a down market, get those listings and you will control the market! Oh yea, and Farming...farm well and you will control the market. And follow-up..make sure you follow up with these people and you will have customers for life!
Those of us that have been around for a bit may chuckle at some of these as we have heard them over and over again at many of the seminars we have attended.
One of the things that happens in a down market is that agents stop marketing and advertising. They feel that if the money is not coming in, then it must be time to cut back. This works well in theory but not in practice. You do have to spend money to make money and especially in Real Estate, you need to be in front of your customers, some say, every 23 days.
In Orlando, at Real Living Real Estate Solutions, we are taking a new look at the standard Real Estate agent model and shaking things up a bit. We are looking to bring on Market Specialists. These positions are for those agents who have decided that they can't or are not willing to make it on their own in Real Estate. Our positions willconsist of a salary draw as well as a referral commission. Their # 1 goal is to set up appointments for listings. They will hold Open Houses every weekend as well as be a liasion when the appointments turn into listings. They will bridge the gap between our top agent and the customers.
The goal is to have more than 1 Market Specialist and to have them reside in the zip codes where our farming is being done. Will it work? Only time will tell but it beats sitting back and saying, "The market is really slow right now." I just read that, "NAR Senior Economist Lawrence Yun puts the current housing market in perspective, noting that "2007 will be the fifth highest year on record for existing-home sales.""
Someone's making money out there!
Jim... A very interesting post. What will these specialists earn.? Who gets the refferrel? Do the specialists generate the client?
Very interesting. Thanks