RISMEDIA, November 19, 2009—Do I have to work for a large real estate company to be successful? This is a question I’m asked a lot by real estate agents. Here’s my two cents…
I’m sure others may disagree with my answer, and that’s to be expected. I never worked for a large real estate company and seemed to do just fine. The key to your success isn’t the size of the real estate company you work for, it’s the effectiveness of your marketing.
If you can generate and convert leads, you can be successful in any size company. In fact, I’d argue that you should start your own company and build some equity in the process of building your business. Why not get paid twice from the same work?
Now when an agent asks me about where they should work, I ask them the following question: Are you a good marketer?
If they hem and haw with their answer, I usually tell them to work for the largest company and try and secure as many deals from the marketing of the company or other agents in the firm. However, it’s important to remember what business this large company is in. They’re in the “agent” business. Their goal is to recruit and retain agents. This goal is significantly different than your goal to sell homes.
I know they run image advertisements on TV. I know they provide great training programs. The purpose of these advertisements is to make the company look attractive to new agents. Buyers and sellers don’t care very much about your company name. They care about what you’re able to do for them specifically.
If the agent responds to my marketing question indicating that he or she is a good marketer, I usually tell them to look for the company with the most favorable commission splits. Use the additional commission income to invest back into your marketing to buy more clients. The company name doesn’t matter; the amount of commission you receive does.
The one thing you should definitely avoid at all costs is thinking that your real estate company is going to provide you with sales. More than likely, they won’t. It’s best for you to learn how to generate and convert leads on your own. This eliminates your dependency and makes you a better overall business person.
Becoming a good marketer is how you eliminate dependency in your business. Once you’ve obtained the skills, they cannot be taken away from you. You can use your skills in any market, any company or in any business. These skills can provide income to you for the rest of your life.
Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients in one year, has written a very practical book on how real estate agents can sell more homes. For a limited time, you can download this book for free by visiting http://www.FreeRenegadeBook.com.