Real estate agents are plagued by common myths and misunderstandings of the industry. In today’s episode of The Real Estate Sales Podcast, Jimmy debunks seven common real estate myths so you can focus on what actually contributes to your bottom line.
Myth #1: Past buyers will call you
- Despite most buyers claiming they’d work with the same realtor again, only a small percentage do.
- It’s easy for you to get lost in the shuffle of life. If you aren’t communicating regularly with past clients to stay top-of-mind, they will not remember you.
Myth #2: Marketing is an expense
- If your marketing doesn’t result in a return on investment, you’re marketing wrong.
- Determine your marketing strengths, be it social media, video, or even lead purchasing, and focus on those elements rather than trying to do everything.
Myth #3: The higher the agent split, the better
- There is value, and then there is price.
- The support and coaching a brokerage offers can result in a higher bottom-line dollar, regardless of the difference in agent split.
Myth #4: You can sell anywhere
- While you can sell anywhere, that doesn’t mean you should.
- Focusing on a specific market (and staying within it) establishes you as the area expert, meaning you won’t have to rely on listings an hour away.
Myth #5: There is too much competition
- If you spend time developing your marketing and outreach strategies and focus on tasks that increase your bottom line, you’ll stand out from the competition.
Myth #6: The market will be good forever
- Prepare now for the market to shift and change.
- It will look different a year from now, and it will undoubtedly look different three years from now. So don’t let yourself be blindsided by that inevitable change.
Myth #7: What got me here will take me there
- If you’re not growing, you’re dying.
- You should constantly develop new skills or refine current skills to continue seeing results and driving your business forward.
Do you have a video or content idea that is perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it as well. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.