Make your goal today to spend more time with sellers. There is a huge difference in our survey of how people are spending their time, and it was reflected in their earnings. One group spent more than 60% of their time with sellers, and they earned more than those agents in another group who focused a larger share of their time on buyers.
The survey finds that those spending 61-70% of their time with sellers saw a nearly 18% increase in salary over those who don’t spend their time this way. Those who spent more than 90% of their time with sellers, saw a nearly 30% increase in their paychecks.
Contrast that finding with those who spent less than 20% of their time with sellers.
They saw a nearly 30% drop in their earnings compared with the average agent.
It’s no secret that buyers take up more of your time versus the time sellers take. So agents who are efficient with their time do focus on sellers. However, becoming a listing agent is much tougher than being a buyer’s agent.
How to Make the Switch
Brandon Peterson began his career as a buyer’s agent, and it didn’t take him long to figure out he wasn’t using his time wisely. He began the difficult journey of switching to become a listing agent, and although, he initially watched his transaction numbers go down, he buckled down and started heavily focusing on his skills of prospecting to turn it around.
“Long term, being a listing agent is a better solution, but it is tough to get into at first. I had to really focus on prospecting daily to build my rapport with new clients. Now, my business is growing. I work with a coach to practice overcoming objections.”
It takes time and practice to get good at being an agent that people trust with selling their largest asset.
Peterson rehearses for two hours every day different scripts for any objection he may hear from a potential seller. He says those who are trying to sell their own homes may want to save on commission fees, while those who have let their listings expire may be owners who have lost their motivation to sell. He says he converses with them to figure out what their motivation may be for selling, and then he works to see if he can solve the very issue holding them back.
“It takes time and practice to get good at being an agent that people trust with selling their largest asset.”
Learn More
You can see investing your time with sellers is a more efficient way to make money. To learn more about how to overcome common objections heard by listing agents, check out How to Show Your Value to Overcome an Objection under the Best Practices section of Prospecting Today.
