The amount of time sales associates are willing to put in, their level of self-motivation, and the extra training they are willing
to take to improve their productivity are just a few of the factors that determine how well you will do and what level of
income levels you may reach. Listed below are many of the qualities and requirements needed to be a top producing real estate agent.
♦ Working with clients and customers: Many of the skills required to be successful in this business can be learned but the
ability to work with people is an innate or natural talent that you simply have or don’t have. Oddly enough, a high IQ is not a major
factor in being successful in the real estate sales business. The real estate business is, above all, about working with people.
The ability to “work smart” with customers and clients has little to do with native intelligence. It is far more important to have
common sense and knowledge of human nature. (If you are concerned about your “people skills” I suggest you take the aptitude test you
will find on this website.)
♦ Are you planning on working as a ‘full time’ or ‘part time” agent: Part time sales associates are considered to be those
that work 39 hours or less a week-often much less. These are people that work full time at another job, retirees working in
real estate to supplement their retirement income and those that are just unwilling to put in the hours required to be top producers.
Generally, the ‘part timer’s’ income is going to be considerable below that of a ‘full time’ agent. However, there are a
few ‘part timers’ that make an excellent income as a result of their outstanding skill, ability and just plain hard work.
♦ Good work habits: Real estate sales associates are, in effect, self employed. With few exceptions, you ‘associate’
with a real estate company as an independent contractor and work on a commission. Your Broker cannot control the
number of hours you work or how you do your work as long as your behavior is legal and ethical. So the number of hours
you put in and quality of the work you do is up to you. Even during your first year your self-motivation, the hours you put in,
the sales skills you develop and your inherent ‘people skills’ can have a major impact on your income.
♦ Your business plan: A basic business plan is simply a written step-by-step guide to success. In it you should lay out your
training goals, a basic flexible guide for daily, weekly, monthly, quarterly and annual activities and objectives. It should also
forecast your production goals for the future. These goals should be realistic and broken down into short and long rang objectives
(see the enclosed proposed quarterly goals for a new agent)
It should be noted that over 25% of agents are low producers because their primary function is working as managers, instructors
and administrators, or as licensed assistants to top producers. Included in this figure are most part time agents who tend to
produce at a lower rate than well trained full time agents.
In discussing the various skills you need and the learning curve involved in reaching your income potential in real estate sales you
may be thinking the business is to demanding. For some this is true, but real estate sales can be exciting and tremendously rewarding
for the right person. Many successful agents treat real estate more as a fascinating hobby than a job. If you are genuinely
excited about how having the amount of money you make directly related to how hard and how creatively you work and you are the type who
dislikes a nine-to-five, Monday-through-Friday routine, then the real estate lifestyle will appeal to you.