My recent blog about listings got a lot of positive comment, thank you.
Let’s be clear on another thing. If listings are the name of the game, Buyers are the rest of the game. You don’t make a commission with a Buyer. In fact, a qualified, motivated Buyer with an urgent need is as good as the average listing (particularly in today’s market) any day; in fact, the better the listing, the more of those valuable Buyers it will attract.
So, as I said in the previous blog, keep taking listings. At the same time, keep searching for qualified Buyers who are eager and ready to buy. The key is to be rigorous in asking the Buyer questions about their financial qualification, motivation and urgency as early as possible in the relationship (with complete respect for Agency and Agency laws).
Yes, I saw the statistics on how much more money is made by Agents who focus on listings. And I completely agree that consistent success is based on a listing focus. I coach Agents every day to extraordinary listing success. But the statistics are flawed. Here’s why.
Most, possibly all, Agents with a team focus on listings. On their team are Agents who focus on Buyers. In fact in many those ‘Buyer Specialists’ refer all of their listing leads to the Primary Agent. The team leader (I call them the Primary Agent, thank you Patrick Daily) gets a portion of all the Buyer sale commissions. This enormously skews the statistics. The more accurate measure would be individual Agents who focus on Listings versus the ones who focuses on Buyers. The problem with that is that the vast majority of individual Agents necessarily focus on both.
The point is that focusing on Buyers in a smart way is necessary for Agents with or without a team. For the teams it would be a waste to get all those listings and not benefit from the Buyers they would attract. For an individual Agent it is also most often a matter of survival.
Buyers or Listings there is opportunity in this market. It absolutely takes more talent and effort to find it and close it in this market. Those who tough it out and learn to succeed in this market will be the top Agents and the leaders as a healthy market re-emerges. And with a bit of blessing, it will.
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