We come across many people doing real estate. It's a relationship based business. During my 23 years in the business, I've met thousands of Realtors from everywhere in the USA as well as abroad and I realized something in common for the majority of Realtors. I've spent years trying to figure it out and although it's not so absolute, it is a very common behavior. I will get to this behavior in a minute but let's look at some important industry facts to help emphasize the dilemma I am having...
83% of Realtors close less than 5 sales a year. 5 sales a year in America, with a median price of $374,000 and 2.5% commission, will make an agent around $9,350 per sale, meaning $46,750 in GCI. That's before the agent pays their broker (commission split) and before they pay taxes and expenses. Another study I made shows that more than 49% of Realtors close 2 or less sales a year and more than 31% close 1 or less and about 19% close zero sales.
Now, the statistics are not the point, but they make the point more confusing. Here's the point:
7 out of 10 Realtors, when asked:
"Would you like to close more deals?
"Would you like to grow your business?"
"Are you happy with your current production?"
They answer:
- No thanks I am all set.
- I am happy with my production.
- I am happy where I am at.
- I love my company.
- I don't need help.
- I already know what to do, I just need more leads.
Now since most of them are not making enough money to pay their basic bills, barely covering their minimum cost of living, they still choose to stay where they are and do nothing about it. Even when an opportunity to grow presents itself, they still say: "I am happy where I am at".
I have some conclusions about this behavior but I am curious to know your thoughts on it. What do you think is goin on? how is it that most people choose to say "I am happy" when in fact they are not? let's have a discussion.
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