Before I Alienate Everyone Reading This:
I know you are not average and do not fall into the mean incomes shown. I know that almost everyprofessional I have ever met cares deeply about their clients and doing the right thing, both legallyand ethically. I also know that to earn more than the mean industry income requires the practitioner towork evenings, weekends, holidays, and to be on call 24/7. Success in real estate as practicedtoday means making compromises between the needs of your business, your family, the days of yourlife and sometimes your health. To compete in the industry today, you must complete, hire orapproximate all of the following actions;
To Do List For Brokerage;
1. Build a Personal Brand/Company profile.2. Hire and train agents/assistants to service specific sections of transactions/business activity so youcan cover the overhead.3. Stay in constant contact with past Clients so they don't forget you.4. Prospect, prospect, prospect!5. Get more Designations and pay to belong to the issuing organizations.6. Social Network, the more the better!7. Blog, Blog, Blog....8. Advertise, advertise and advertise!9. Build a Website10. Market globally but find a niche that works locally.11. Hire and train more agents/assistants to handle increased volume.12. Do more deals to afford the new agent/assistants.13. Join a lead generating service or two, or three.14. Join a newsletter service.15. Hire SEO Services16. Advertise, advertise and advertise!17. Attend Continuing Education Classes, again and again and again.18. Build, buy or join a transaction coordination platform.19. Hire more agents/assistants to handle the program and the updates.20. Work longer, harder, more efficiently to afford all the above.21. Hire and train more agents/assistants22. Download all the real estate in the country to your website.23. Send squeeze page ads to drive traffic to your website.24. Buy more insurance, licenses, permits, pay more dues and fees.25. Pay increased wages due to minimum wage law.26. Pay higher operating costs and taxes, due to inflation.27. Buy upgraded Software, auto responders, make links and drive traffic28. Build email lists and data bases29. Fire the web guy and start over.30. Repeat from the top31. Repeat from the top32. Repeat from the top.
The definition of insanity: "Doing the same thing over and over again in the same fashion,while expecting different results!" It is self defeating to continue doing more of what is not workingwell to begin with.
The residential real estate boom is over!
It will not be back for 15-20 years. Even if you work in a City or State where real estate values havefared relatively well, new laws, higher taxes, consumer expectations, new regulations and economicfallout will permanently change this Industry.