Ask an agent what their product is and you often hear “happy clients” or “sold houses” or “great customer service.” Those things are important and surely are part of what a top producing agent does. But do you want to know a secret? One that nobody ever talks about? Your product is profit.
What? Never heard that before, right? It’s because no one really likes to talk about money and profit. They prefer to talk about “passion” and “dreams” and say things like the “customer is always right.” While doing that, they completely ignore profit and then wonder why they are left feeling defeated and not moving forward in their business.
Why isn’t your broker telling you this? Or anyone else for that matter? Because profit is not sexy. Learning to run a real business doesn’t sell to wannabe agents. They want to help people or they love decorating or they desire freedom and flexibility. News flash! If you don’t make a profit, you can do any of these things at a high level.
In our opinion, profit is the litmus test of whether or not you’re an effective business person, entrepreneur or salesperson. Did you know that most brokerages are only pulling in a 3% net profit margin – sometimes less!? Or that nearly all teams make no more than 10 to 12% profit before taxes. Yet, forming a team is the hot new thing to do.
In this series we’ll be giving you the practical, tactical ways to ensure that you’re heading down the path of profit. Show us a profitable agent and we’ll show you an agent that focuses on activities that have them blazing a trail to the bank! We’ll tell you what your new ‘must do’s’ are if you want to go from pauper to profitable top producer!
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