Spotlight on Success
Who's on Your Team?
A new year is about to begin. If you're a real estate agent, you're hoping it's a good one. The economy is on the upswing and that's always good news. Renters can think about moving into a place of their own. Growing families can up-size. People who have been successful in their career can fulfill their dreams of more luxury or a second home. Investors can procure inventory. Life is good.
These positive signals are certainly apparent in the DFW Metroplex. More and more companies are moving their headquarters or major portions of their operations to our area. New homes are being built all over the place. This is a great place to have your business.
Are you waiting for the business to come to you or are you thinking about what you can do to grow your business? When Bill and Jane Sadek were real estate agents, they were coached by the premiere real estate coaching company, Buffini & Co. One of the most important things they learned was how valuable their time was. Real estate agents only make money when they are out in front of people - listing houses, showing homes and building a referral network. Every minute spent doing other tasks actually subtracts from income.
While selling real estate can be one of the most lucrative careers to pursue, it is also entirely possible to work very hard and go broke. In the beginning of your career, you're learning the ropes, figuring out your strengths and getting the hang of your chosen career. Doing things for yourself can be a great way to learn what you need to know, but it can also become a very bad habit. You work hard to get a few deals on the books and you are suddenly very busy, but as soon as the contracts close, you are virtually out of business, because you don't have any prospects.
That's why doing everything for yourself is false economy. You may think - I just saved a couple of hundred here and another couple of hundreds there, but what you are actually doing is taking yourself out of money-making activities. You're not in front of potential buyers and sellers when you are shuffling papers or editing photos. You're saving a few hundred dollars in exchange for the potential of thousands.
Making the leap to hiring out tasks you think you can do yourself is hard, but soon you'll discover there are many benefits. Not only do you have more time for prospecting and building you referral network, but you'll discover that hiring expertise pays off in other ways. For instance, the NAR reports:
Homes with professional photos were viewed 61% online than others
Homes with professional photos commanded at 47% higher asking price per square foot
Homes with professional photos tend to sell for more than those taken by others, from $900 to over $116K more.