An issue that gets regularity discussed both within and outside the real estate industry is the typical real estate agent. What is the typical real estate agent? When I say real estate agent, most people will either have a visual image and the remainder will have the stereotype.
So what I will do is provide my favourite four FACTS regarding real estate agents - in turn hopefully put to bed some myths.
1. Real estate agents make lots of money.
Everyone believes that if you're in real estate, and particularly in sales, you're making a lot of money. The average real estate agent makes approx $36,000 per annum. The top earners make a lot more than this, but its important to discuss the majority, not minority.
2. Real estate agents love their job as its very flexible
Real estate can be very stressful. Living pay cheque to pay cheque with some months not pay unless a sale is made is not a perfect lifestyle. The real estate industry has one of the most turnover rates in any business industry in Australia. The people that last and work hard get success, the others that are in it for a short term (i.e 1-2 years) tend to move on. Either to another company or more commonly than not to another profession.
3. Real Estate Agents are arrogant and don't return phone calls or are always late to appointments, etc
This one certainly is a pet peeve of mine. What incentive does the agent have to be rude, arrogant, late for appointments, etc? Real estate is one of the only industries where you control how much you earn!! There is absolutely no point (in life actually not just a job profession) to be rude, arrogant, not answering phone calls, be late to appointments, etc when you control your pay. Remember there is a fine line between being arrogant and confident!
4. An agent will do and say anything to get a sale/deal
In any industry you will have good and bad. An inexperienced agent may lead and do anything to get a sale but when in the long run the smart agent will want to be looking after every client of theirs. Why? Well referral business in some areas are an agents core business. I always tend to think that the next purchaser I sell a property to could be a future vendor in years to come.
For an agent to become respected professionally, they must forge open and honest relationships with their peers and clients. This practice helps put them on the road to success and is much more profitable than lying. Experienced agents and top sellers know that any lying or misrepresentation puts their career in jeopardy.
Like many say the best source or marketing is 'word of mouth.' If you are to look after all your clients, they will look after you by spreading the word. After all bad news spreads quicker than good!