How can I succeed as a Real Estate Agent. I get asked that question on a regular basis from newer agents. It is a tougher question to answer than most folks think. How do you measure success? Every ones idea of realty is different and there is no cookie cutter agenda for the road to success. It does start with knowledge and mindset. You need to as a minimum, know the following information COLD. and update it on a regular basis. Don't rely on anyone else to provide you this information, Get it your self.
- How many properties are for sale in your market today?
- What's the average price?
- What's the average days on market (DOM)?
- What's the median price?
- How many properties sold last month? Last 6 months? Last year?
- How many properties are currently under contract (pending)?
- How many of the sold properties were Short Sales? Foreclosures (REOs)?
- What's the "sold price to list price" ratio?
- What's the absorption rate (Active listings divided by a month's average sales)?
- Are values declining or increasing?
- Is inventory declining or increasing?
Knoledge and mindset are keys to success, anyway that you measure success. Call me if you have any questions. I love talking business.
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