Working effectively in the real estate industry means that you need to work smart not hard.
Sometimes that comes down to choosing the right market to target.
After all my years of working in the real estate industry, there is one thing I come across time and time again.
There are a lot of agents out there that want to sell the high-end prestige properties only.
Looking for the big win.
But is there another option out there that will provide you with a more consistent income?
As an agent, it’s important to diversify your listings. If you wish to work in the high-end market, by all means, do so, however, make sure that you have a baseline in place.
The high-end market place can be ultra-competitive and inconsistent even when you build a reputation within the high-end market.
Sometimes you can actually make more money focussing on selling the stock that turns over.
It may not quite have the same appeal as certain suburbs or breaking price records, but it is a consistent good income.
It enables you to keep your real estate skills and tools sharp.
And it allows you to maintain a baseline that gives you the room required to prospect for, acquire, maintain relationships and service throughout the sales process.
Think of McDonald’s. It’s not a restaurant you would by any means consider high-end.
However, look at the success that they have achieved with their business acumen.
When Ray Kroc joined the McDonald’s company, it was his foresight and drive that set the stage for national expansion and eventually, a global franchise.
How did they do it?
They went with the strategy of selling their food to the masses, not the classes.