Posted by: Kaplan Real Estate Education
Written by: Bob McCombs, Top Dogs Commercial Real Estate Training
Updated: January 15, 2019
There are five easy questions that you can ask your existing real estate clientele that can easily double or triple your annual commission income. Far too many residential agents fail to ask these questions and as a result are leaving tens of thousands of commission dollars on the table for somebody else to pick up.
By learning to ask these questions of all of the people you come in contact with in the course of your residential business, you can guarantee yourself a healthier bottom line.
According to Salary.com, most real estate agents earn on average between $34,000 and $45,000 annually, which translates to 11 or 12 homes sold annually. To do that, agents need to make contact with a lot of buyer and sellers and be in a hot or high-priced market.
Suppose the average agent comes in contact with 10 people for each sale, via internet marketing, phone contacts, open houses, etc. That means they are touching between 400 and 500 people a year. While that may seem like a lot it’s actually less than 2 a day since so many agents work 6 or sometimes 7 days each week. And that doesn’t count other social contacts and lead generating efforts such as networking events, shopping expeditions, parties, etc. Learning to ask these five questions can take a moderate income and double it or triple it easily.
Right now you may be saying to yourself, “Well wait a minute, I don’t do commercial real estate transactions.” Stop right there. Now is the time to get started on this career path, and it’s never been easier.
For you to earn money in commercial real estate you don't need to go to a mainstream commercial house, or to set up a commercial practice. All you need to do is to tap into the commercial real estate needs of your existing clients.
One of the most pervasive myths is that commercial real estate is difficult or that it takes years to break into it. But the truth is that has changed.
In the past, the mainstream commercial companies controlled the information and resources, and that kept residential and newer agents out of the commercial markets. That is no longer true. All of that is now available to all. The same is true for the forms and contracts that you will need.
With all that available to you, you can now be on par with every mainstream commercial real estate agent and company.
All you need now is the fundamental knowledge
And, now you can get that knowledge quickly and stop leaving your commercial commissions on the table for someone else to pick up. What that really means is that you can dramatically increase your income by tapping into the big commissions that commercial agents routinely earn. And that is all together for you in one affordable and easy to use package. Just learn and then earn.
Top Dogs Commercial Real Estate Training provides step-by-step training to help licensed residential real estate professionals leverage their skills for success in commercial real estate. The company's courses are mandatory training for commercial agents in some of the country's best-known brokerages. We offer you the opportunity to enroll in both of Top Dogs' courses at an exclusive price. Visit the Professional Development section of our website to learn more!
Strong negotiation skills are essential to success as a real estate salesperson. Knowing all of the factors that affect how you negotiate can create additional value for your buyers and sellers, and also lead to a bigger commission payday for you. Polish your skills with this 17-tip guide to successful real estate negotiation.
