Would you work at a company or in an industry where during lean-ish times less than 20% of personnel received a paycheck and more than 80% went without? And where you would never know with certainty if you would be in the lucky and limited percentage of paycheck winners during any given month?
Also in your unpaid frustration you may piece together that certain industry peers earn more than their fair share of that small allotment of paychecks each month. Seriously, how unfair! Oh, and did we mention that there’s no benefits package to speak of, so essentials like health insurance are paid out of pocket and come out of any money you are—or are not— making. You also have to pay expensive annual and monthly fees to be among this group of mostly unpaid professionals…
Would you jump at that chance? Well, if you really educated yourself on the challenging aspects of this particular employment maybe you wouldn’t, but many don’t and jump right in! Many of these same folks can’t maintain their livelihoods this way for very long. Sadly.
You may have guessed it— this is real estate sales. Most markets are over-supplied with real estate sales agents, and under-supplied with transactions to spread around. Yes, not everyone gets paid, and statistically—not MANY are compensated for the long hours, days and weeks working with clients or trying to attain clients. Essentially there is a lot of upfront investment of time and energy and no guarantee of compensation. Literally none.
In our Reno/Sparks market, as of this spring we have approximately 3,600 licensed real estate sales agents and broker sales agents, yet during the first four months of 2023 we averaged only 320 resale closings per month, so the easy math on that—on average two agents on each transaction— illustrates the scarcity of opportunity in this industry that some people get into mistakenly thinking “easy money”.
Not so much. I have been fortunate to close more than my share of transactions this year, but being successful takes so much more than just the fact that you have a license to sell real estate. You have to be a true marketer of yourself and your services, you have to be professional at all times—and go above and beyond to help your clients succeed in their real estate goals. You have to be patient, smart and strategic in working with clients and throughout negotiations.
Speaking of your clients—though sometimes a friend or family members— they are still in this case first and foremost clients deserving of your very best care and attention. You treat all clients no matter the value of the transaction with white glove, five-star service. You know the answers to their questions before they ask them, and if you don’t you find out and get back to them with urgency.
You roll your sleeves up and sweep, clean windows, pull weeds, shovel snow—whatever it is that needs to happen without complaint or even comment. You spend your time saving your client’s time. You preview neighborhoods, listings, and comps. You run the numbers for them and with them over and over again until it makes sense to make or accept an offer. You advise your clients as thoughtfully and respectfully as if this purchase was being made with your own money.
This IS your job, this WILL sell that house or offer and as you go along in your career you will realize that this attitude of continuous professional care is also what sells YOU because the majority of your competition cares just a little bit less…and that’s a fact.
Cynthia Pratte-Smith 775-691-9442
Berkshire Hathaway NV S. 188140
