Facebook, Producer, Isaac discussed on Think Realty Radio
In you can download the free resource in the resources section at the top to make sure that you go ahead and do that again. The name of my book is making. It rain, and I wrote it because of a challenge that I had because of a challenge that I had it's funny. My my producer Isaac is making. He's he's doing the doing the hand motion making it rain, and I feel like real estate agents need to do more to make it rain. Here's why when I had I I do a lot of traveling nationally. And I connect with a lot of real estate investors and real estate agents during the think realty conferences, and the other conferences I attend keynote speaker at sometimes I'm panelists there as well. And I'm always asked. Hey, I'm a real estate agent. How do I make more money? So I'm dedicating the next few minutes to you the real estate agent to you the business owner that's thinking about becoming a real estate agent. And how you as a real estate agent. Effectively can make it rain. Now, if you are real estate agent, generally, I'm assuming your Facebook and Instagram feed is a really full of different motivational sayings, and this and that and the other there was one that I ran across recently that said real estate is a numbers game show up and prospect and the rewards are yours. So here's the thing though. It really does the numbers game. The numbers are pretty depressing right now. According to the national association of realtors there were approximately two million real estate agents in the US and twenty sixteen and according to the bureau labor statistics there are four hundred forty four thousand one hundred agent jobs in the US. So what does that tell us? The means that for every licensed working agents there are three agents their three agents who are either unable or unwilling to find work. Work in the field. That's kind of interesting, right? Kind of a little bit of a dismal number. But let's look at the numbers for those agents who are actually working the average salary, according to the bureau of labor statistics for real estate agents in two thousand sixteen was a staggering forty six thousand four hundred ten dollars per year. Which they translate into an hourly salary of twenty dollars thirty two cents per hour based on a forty hour workweek now. Your real estate agent. And let me ask you this. What active agent works only forty hours a week? I mean, are you kidding y'all work so many more hours than forty hours a week if you're trying to sustain and grow real estate business? I mean, you're working seven days a week. You're going to conferences the European conference calls, you're handling marketing. I mean, you have late nights doing marketing lead generation client communications, sending emails back and forth following up, showings appointments paperwork inspections closings meeting with investors meeting with you get the drift here. So I mean, the then of course, there the expenses for continuing education us licensure you've association fees equipment. You've got paid leads advertising. You got boost posts on Facebook. So you're forty six thousand four hundred dollar yearly yearly amount that you're making. The the income is looking more and more and more like a minimum wage. Let's be real right? Like, that's what's happening. So how do you turn this around? Here's something else. Perhaps is this. Maybe why the failure rate within five years for real estate agents hovers around eighty five percent. With some estimates coming in high as high as ninety five percent. How's that? For a compelling number. But we've seen successful real estate agents to we know they're out there. I know that they're out there you're out there. What are you doing differently? How're some real estate agents killing at financial in real estate while others get get left behind. What can you do as a real estate agents as a real estate agent, creating a business I creates wealth for you in a way that self sustaining? So you're not working so hard for so many hours for so little. So think about why you got into real estate to begin with challenge you with that question was it because you wanted to work with buyers and sellers only. I mean, I'm sure that was part of it. You wanted something that's dynamic. You wanted to be able to drive around and see different neighborhoods in connect with different people. I think that's awesome. But I definitely guest that very few agents. Go into real estate expecting to make the forty six thousand dollars a year figure that I just mentioned. For most a promise is that with a few years of work. They can build a business and be proud of that business that you building in a one that will afford them a luxury lifestyle similar to that you find on some of these million dollar listing HDTV shows, and then of course, there's a whole industry of coaches and consultants marketing gurus that reinforced that idea right with the right system where the right platform or enough work you can to become a top producer. And I firmly believe that. So why are few real estate agents finding financial size final financial success in real estate? I don't know why. I'm stumbling over my words here why are so many as many as ninety five percent leaving the for leaving the business within the first five years of the real say career? You know for me. I think a lot of this is not understanding the power that you have is a real estate agent you'll have more access to data than I do as a real estate investor. That's not a licensed agent. You can use these data points to your benefit. Why aren't you? Or maybe you are. And you know, you can tell me.