Tapping into the Real Estate Agents Market

Quick intro:

In 2021 I set up to become a licensed real estate agent in the state of Florida. Three months, and three tests later, I had my license in hand. That was the extent of my plan. In my ignorance about the real estate industry, I had failed to create a business plan.

Two weeks later I was joining a real estate team. Every morning we had a huddle and every day I was told that if I kept doing cold outreach things would happen. Things did happen. I closed five transactions in six months. None of them via cold outreach.

Before the end of the year, I decided to not pursue real estate as a sales agent. Why did I stop? I figured that there is more money in providing tools and facilitating transactions.

These are the things that seem to have the most potential to generate a business from:

On the agent's side :

• Transaction workflow automation:

  A lot of the real estate groundwork is still done the old-fashioned way. There are tools to automate, save time, and thus produce more money, but most agents don't seem aware of this. Most agents default to outsourcing these tasks to an expensive assistant/transaction manager.

• Online presence/ Content marketing:

New agents are told to cold call, knock on doors, and spam social media with pictures of themselves. This is futile. As we know the game now is in providing value and creating a community. There is only a small percentage of agents doing that nationwide, and at a local level, that number drops.

• New agent's training:

When you go to get your license they make you study the laws and regulations that govern the industry. Once you have that license, they'll tell you to join this or that team because "they have a good training program". What they don't tell you is that the cost of joining that team is having to give them 50% or more of the commissions you earn. There is no https://teachyourselfcs.com/ in RE, there should be.

On the client-side:

• Choosing the right agent:

The two main methods that people use to find real estate agents are referrals and Zillow. Here is the problem with this: - Acquaintances might recommend you someone who is not a good fit for you. Zillow will recommend whoever paid the most for your information.

The intention of this post is to start a conversation, get some feedback, and see if anyone else sees potential here .