Today I’ll bust a few real estate myths that persist in our market. Stay tuned.
In my experience, I’ve heard a lot of misconceptions about how the real estate industry works. I’ll take some time to bust three key myths that can cause agents to falter in their careers.
“When you specialize on an aspect you’re good at, you’re focusing on the thing that best connects with your personality and skill set—that helps make your clients happier and helps you stay in the business longer.”
- Promoting yourself is better than working with a team. The truth is that it’s very difficult for brand-new agents to compete with the marketing power that larger brokerages have, as the review culture that we emphasize today. Having marketing range and good reviews on your side all help you to brand yourself and get your name out there. It’s such an advantage to join a team with brand recognition and a long list of happy clients.
- It’s better to be a “Jack of all trades” than it is to specialize. Many agents think, “Why learn just one aspect of real estate when you can learn all of it?” On my team, our agents have specialized roles, including buyer specialists, seller specialists, transaction coordinators, marketing specialists, client services agents, and more. The truth is that real estate is very complicated, and over time, I’ve learned that most people are really good at different aspects of it, but they’re not fantastic at all of it. When you specialize in an aspect you’re good at, you’re focusing on the thing that best connects with your personality and skill set—that helps make your clients happier and helps you stay in the business longer.
- You’ll make less money by working with a team. Time and time again, I see individual agents struggling to connect with clients and find business. You could charge a 100% commission, but if you don’t sell anything, you get zero commission. When you work with a team, you’re able to get in front of lots of clients and you can make more money. Our team has multiple people involved with each client, and the commission is divided that way, as well. Still, we have multiple agents who make well over $100,000 a year.
There are so many positive things about working on a real estate team. If you have any more questions about the differences between working as a solo agent and on a team, don’t hesitate to reach out to me. I’d love to hear from you.