Chet tells us, “We dedicate this book to the 85% of the new real estate agents who have failed, through no fault of their own, to make a career out of all their hard work and training in their chosen field of real estate. Our compassion for their heroic struggles fuels our goal to change these daunting statistics.”
Chet continued with “We are asked over and over why we call our program ‘Real Estate Agents Million Dollar Angle.’ I guess we should answer that question first. In order for our answer to make sense, you need to look at some statistics:
- Only 15% of all new agents make it to 5 years in the business. That is startling, an 85% failure rate.
- And, 90% of all earned commissions are paid to only 10% of all agents.
Together, these industry facts give real estate agents about a 1% chance of succeeding in their chosen career.”
If a person owned a business that operated with those two statistics, that person would be doing everything they could to find the reason why that was happening. The book outlines a positive solution to those problems.
When asked about the research for the book Desiree said, “In our research, we found that the most listed difficulties for a Real Estate Agent are Marketing, Follow Up, Lead Generation, Providing Value and Time.”
“Our research found that the first four of these problems occur because of either a misunderstanding of a prospect’s mindset in the 21st Century or falling into the ‘right now’ attitude of so many people today.”
The authors assert if an agent is on a path that gets them into the 15% that survive beyond the first five years, they will have the money to pay for someone to do the entire back end, so all they have to do is take care of prospects and clients. In other words, with the right kind of help, they are free just to sell and list. Focusing a little closer, any agent will see the plan presented in this book is not about sales. It is all about having a steady flow of prospects and clients that know, like, and trust the real estate agent. Stated another way, the plan gives the agent a steady flow of people to sell to.
Here are some additional facts stated in the book that comes from the National Association of Realtors:
- 32% of all sales last year were first-time buyers
- 1 in 9 homeowners will move in the next 12 months
- 12% of the population will consider selling their home in the next 12 months
- 85% of all homeowners would prefer to use the same agent when selling their home that sold them their home, but only 13% actually do.
In reference to those facts, Chet told us, “In your business, you have a choice. You can burn through leads looking for Mr. and Mrs. Right Now, or you can “bank” the ones that are Mr. and Mrs. Not Right Now.”
Desiree Humeston is a Doctoral Candidate in Education, specializing in Instructional Design.
Chet Bruce is a consultant. In 2003 he wrote a Best Selling Book, The 21st Century Transformation which dealt with how the consumer had changed with the advent of Google focusing on “local” rather than worldwide business.
The Million Dollar Angle is available from Amazon as a Kindle book: https://www.amazon.com/dp/B07PXPD218