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If you ever wondered how the "top producers" earn such a large income, then you are in the right place. Why is that some agents make fortunes selling real estate and others barely scrape by? Do you remember the 80/20 principle? Where 80 percent of the business is done by 20% percent of the people? Well in real estate, they (NAR) now claim it is 7/93. That is that 7% of the agents get 93% of the business. Well, I am not sure how they determine this, but there is one thing that is certain. The majority of the money is earned by only a small minority of the agents. Here's why. First of all, we are not all created equal. Some have more natural ability and talent than others. This is not to say there is no hope for those who are not yet at the top, there is. But, most of what is being taught doesn't work. There is so much information out there on how to be successful as an agent, that everyone should be successful. I mean that every one should be earning big money. And the fact of the matter is that everyone is not. So why can't you buy a program from a guy who is making millions and have it work for you? Because you have been misled, that's why. You have been led to believe that all you to succeed is to know more, and you will make more. And it's not true. You have been told that more information is the key to your success, and it's not. To make matters worse, as you go around believing this and gathering information, most of what you are getting is pure garbage. It doesn't work, or at minimum, it's not as effective as it could be. Let me tell you, information alone will not make you money. But if it would, you would still have to be sure you get the correct information. While all agents are not equal, just about all of them can get a house to closing. Learning how to better do what you do know is not the answer. There's more to it. Let's see how this really works. You decide to become a real estate agent because you think you can make a lot of money, and you can. You take a short course on licensing and you go and pass the test. Your first question will be, how do I get business? They didn't cover that in the course, did they? As if that isn't enough to discourage you, there are thousands of others with the same idea. They too are getting their license. In any business where the potential earnings are high and the barrier to entry is low, you will have a great deal of competition. Many people get their license and then don't know how to get their first deal. Who do you turn to? Your broker? He will train you because he knows how, right? Well, in most cases the broker isn't much help. Think about it, They depend on you to bring in business for them. If they were great at it, they would be giving you deals to follow up on all day long. But they don't, because they can't. So, how do those big earners make all of that money? How do they do hundreds of deals a year as they claim, when the average agent only does a handful? One of the things they have in common is that most have a team. They couldn't possibly do that much alone. But that is not why they are successful. Many people make the mistake thinking they do so well because of the team, when in fact, it's the other way around. They are able to have a team because they know how to keep a team busy. They can keep them busy beacuse they know how to bring in business. How do they do it? Marketing! It's how good they have become at marketing that makes them money, not how good they are at real estate. If you think of marketing as sphere of influence, farming, post cards, fsbo's expired's, etc., you have been lied to once again. If you tried any of this stuff, you most likely found it doesn't work as well as you had hoped. If you are waiting for the next deal to come to you and don't have a clue as to where or when it is coming, you are not marketing effectively. Quite frankly, very few people know how to market. Even less of them are selling real estate. This is why the door is wide open for you to succeed. If you want to be a success in real estate and bring in the big money, you will have to become a great marketer, well at least better than your competition. And you will be surprised to learn why the information that's being sold out there alone can not help you. It takes more, and no one else is telling you this. If you have ever bought a marketing program only to be disappointed at the results, then you know what I mean.
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Author: Vince Testa is a real estate marketing expert, coach, and consultant. Get your Real Estate Tips and Marketing Advice here. Get your own completely unique content version of this article.
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