How to Double Your Income as a Real Estate Agent
Let’s face it. You joined the real estate biz for one of two reasons:
- You are a GO GETTER. You are drawn to the excitement of the real estate industry and the appeal of the sales profession.
- Your passion is HELPING people. You LOVE that look on a client’s face when a deal goes through and their dream home has become a reality. You have made a lasting impact on someone where they may not have been able to do it without you.
Honestly, maybe you got into Real Estate for a little of both!
However, one thing is true about almost all agents; you did NOT get into this business to spend all of your time doing paperwork.
Do you want to know the fastest way to increase your income in real estate?
Join a team.
Let’s look at some cold hard facts.
In 2019, the average solo agent in the Kansas City area made around $40,000.
On the flip side, agents who were a part of a team made over double (and that is AFTER the commission split!) A team structure allows you to focus on the 20% of activities that make you money, rather than the 80% of activities that don’t. You will earn more money and have greater freedom than you would be working on your own. How is this possible?
1. Full-Time Listing, Closing, and Marketing Coordinators
Teams typically have a full-time listing coordinator, closing coordinators, and marketing directors to handle all of your paperwork, marketing, and materials to distribute to clients and potential clients. This allows you to spend less time doing paperwork, and more time selling real estate.
2. Teams Typically Cover Various Expenses
A large benefit of working for a team means a lot of your expenses are covered through the commission split. Not only does this save you money, but it also limits the headaches you have to deal with by managing multiple systems such as digital ads, a CRM system, ordering new materials, etc.