Real Estate Practice- One Deal Away from Broke
Is 2024 the year you invest in yourself and get that real estate license? Worried about living the commission only lifestyle? In most cases agents are only paid at closing. Literally all the work on a file is complete before the agent gets a penny. So how does this work in a "troubled" economic time? Let's look at some ways to keep the cash flowing!
1) Talk to people you know everyday- The BEST source of business is folks that already know/trust/like you. Call them on a consistent basis. Yes, call. In 2024...Don't assume they saw and remembered some random social media post.
2) Talk to people you don't know everyday-These calls can be tougher. Examples can be for sale by owners, expired/cancelled listings, and neighborhood dials. There are free scripts online, I use the Mike Ferry Organization ones. Practice each morning, but don't let the fear of not being perfect keep you from calling.
3) Do open houses, but do them right--In my opinion the power and benefit (to both agent and seller) is the prep work leading and following the open house. Put out directionals, door knock the neighbors and personally invited them. Mix in a couple of social media posts and you should be set!
4) Have Savings-- Nothing smells worse than commission breath. When you lack savings that one deal you have becomes more important than the client. And trust me, they can smell the desperation!
5)...
ActiveRain folks, what is your number 5? How can agents avoid the dreaded real estate income roller coaster?
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