Quote:
Originally Posted by Jim Bremner
My average house in my town runs $450k some condos down to $150k and top of the hill estates are 2.5mil
The agent that helped me buy sell my place earned commission on a sell of 680k and a buy of 695k the 680 was in November and the 695 was in December. She closed 5 in December all above 500k
I've sold 40mil worth of bicyccle parts in 30 years time. I don't see too many 50 year old or older sales reps. I think that it's time to give up the toy business.
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Try to get some stats from the local RE board, to see what the average is selling for. It's too easy notice sales in your neighborhood, your price range.
Starting out, you really shouldn't depend on doing business in the middle/upper-middle class range. Do NOT depend on selling homes in YOUR neighborhood, or even among YOUR friends & acquaintances. They will be supportive, but may not feel comfortable trusting you with their most valuable asset. That's OK.
You want to focus on homes that sell quickly, and homes where the buyers and sellers may not yet have established relationships with real estate agents. Starter homes. Townhouses, 25+ year old 3 bedroom bungalows, entry level stuff that sells in 2-3 months. They are also the homes that will get you BUYERS that are less likely to already have a realtor. A well-priced starter home could get you 2-3 really good buyers. You just have to make sure you are giving the buyers 2-3 good reasons to work with you to buy a home. If you do that, they will ASK you if you will help them.
As you build up a listing inventory, and people start noticing that you are actually selling homes, then your friends & family will start recommending you. That's when you can start to work your way upmarket.