Most Billion Dollar Agents make more profit from sellers than from buyers. They have properly put a focus on their time on getting listings and then generate leads for buyers. But because of this, many have a buyer side of their business that is weaker than the seller side.
A Billion Dollar Agent leverages the concept of focus. If they are still working directly with clients, they almost solely focus on listings. If they hire other agents, they have them focus solely on buyers. You get better at something you focus on. One of the biggest problems of an agent at $100-200k is that they are trying to do it all, especially if they do not have an assistant. They are trying to do marketing, sales, listings, buyers, transaction coordination, office management, accounting, and client relationships. It is no big surprise that they fail to do some of these at all, such as accounting and client relationships, and the more successful they get, the more frazzled and less successful they feel as they are working 60-80 hours a week.
If you are new in the business and in your first few years and not yet hitting $100,000 GCI, consider joining a top team in your city to get as much experience as quickly as possible. You are likely to make more money, get more experience, and make a better decision. Focus on buyers first. It allows you to focus and improve your sales techniques and scripts for qualifying buyer leads and all the steps of a buyer transaction. If you did 10 transactions yourself each year, it would take you 3 years to get the same experience as 1 year working for a top team and doing 30 transactions. Plus, you will make more money with the team. If, after a few years, you are ready to go out on your own, you will have savings instead of debt, a clear view of how a larger business operates, and confidence to pursue your own business.
A Billion Dollar Agent is always looking for great new salespeople. If you think you are the 1 in 100 who makes the recruiting cut for a Billion Dollar Agent team, feel free to email firstname.lastname@example.org and describe your background, numbers, and city/state.
If you are on your own you should leverage your time with an assistant, once you get busier, to delegate transaction coordination and marketing. If you have more buyers than you can handle at the same time, you are ready to hire a showing agent on an hourly basis. Your buyer clients, if you have a strong client marketing program, will start to generate seller leads for free and become sellers themselves in as little as 2-4 years. You can also decide on a target market or farm for listings and invest gradually in seller marketing.
I invite you to text or call me at 202-297-2393 to further discuss how Billion Dollar Agent can assist you with your business.