How to Break into a Crowded Market as a REALTOR®

Posted by Stuart Neal on Tuesday, June 30th, 2020 at 4:52pm.

In our market, approximately 80% of the fees go to just 20% of all REALTORS®.

Average production per agent is about 10 transactions per RAE member * Source RAE

In general, most people can break into the market if:

  1.        You have a solid knowledge of the construction industry (helpful, but not crucial)
  2.        You have a solid background & extensive training in direct selling, marketing, or customer service (important)
  3.        You are extremely well connected & know many people (helpful, but not crucial)
  4.        You are willing to work hard & put in long hours for the first 3 to 5 years (crucial)
  5.        You can demonstrate a point of difference (important)
  6.        You have some working capital to last 3 to 12 months (less if you join the right brokerage)

Question – How will you succeed if you don’t have all or most of these things going for you?

* Find a brokerage that will provide leads, training and mentoring!!!

 * According to the MLS system hosted by RAE, in 2019 there was 17,533 transactions. Assuming & 2 agents per transaction that would be 35,066 transaction ‘sides’ divided by 3224 agents, 214 brokers & 40 managers, total 3505 members. 35,066 transactions divided by 3505 licensees’ is 10 transactions each.

If you join a traditional brokerage, you may need enough money for 12 months living expenses.

 

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®

Want more information about careers with our team? Call Stuart our broker owner at: 780-760-2014 ext. 3 or go to our Careers page Ambergate Realty Advisors Careers.

 

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