Foreign Property News | Posted by Aye Myat Thu
If you jumped into real estate to get rich, you might have picked the wrong profession.
At least, that’s what salary pollsters will tell you. Most salary surveys will tell you that the average salary for a real estate agent in the U.S. is just $39,800 a year.
That’s the average — so many agents aren’t even making that much.
But there are real estate agents who do get rich. The big question is: How do they do it?
To get rich in real estate, you have to understand one simple reality.
To make $39,800, you can sell:
What most real estate agents don’t realize is that it takes a lot more work to sell those 20 cheaper homes than it does those two expensive homes.
In fact, if you could sell just two luxury homes a month, you could make that $39,800 every month. That’s nearly a half-million dollars a year.
So why don’t more real estate agents go after the more expensive properties?
The reason is simple. In my experience, the No. 1 reason real estate agents don’t try to work in the luxury market is fear.
Most real estate agents sell homes in areas where they’re most comfortable. If you’re comfortable selling $200,000 homes, then those are the customers that you will find easiest to attract.
Because agents are not used to living in, visiting or selling expensive homes — and working with wealthy people — there’s a fear of the unknown. But is this fear is grounded in reality?
An article in New York Magazine recapped a noteworthy scientific paper that found wealthy people are not empathetic; they’re insensitive, and they disregard other people. They have a tendency to cheat, and they’re even more likely to be jerks while driving.
Ref: Property Report
