7 Stats and Habits of the Highest Paid Real Estate Agents

7 Highest Paid Real Estate Agents Stats and Habits

A Real Estate Agent’s Typical Day

In the United States alone, there are over 390,000 (Three Hundred and Ninety Thousand) real estate agents, of which about 57% are males and 43% are females. Of these agents, 61% use direct mail services for their businesses while over 85% use Facebook for their businesses.

Earnings

The earnings of agents tends to reflect their experience in the industry. Rich agents who have bagged up to 20 years of experience earns above $35,000 a year while poor agents who have between four to five years’ experience earn below $35,000 per year, and this group of low earners is made up of up to 60% of females.

Of the rich earners, about 55% of them are likely to have an electronic newsletter, 35% are likely to use blogs while approximately 90% are more likely to use customer relationship management (CRM). In this group of wealthy earners, only about 3% earn over $250,000 per year, while 76% earn under $75,000 per year.

Classification of Agents Based on License

There are various classes of agents, the brokers constitutes about 25% of the total lot. Sales agents are 59%, broker associate make up 14%, appraiser, 4% while other groups form 1%. It is obvious that sales agents are larger in this field.

What Does a Typical Day in the Life of a Real Estate Agent Look Like?

1. Pursue Recent Activities On MLS Hot Sheet – Agents must always be updated on the latest development in the industry, because customers count on them for reliable information and knowledge.

2. Prepare for the presentation of a property – An Agent must be conversant with all vital details associated with a property, in preparedness for presentation. He must be familiar with the features of the neighborhood before the main meeting with prospective customers. He must be aware of the schools nearby, size of the property, nearest police station as well as crime rate.

3. Make important calls – Agent have to place series of calls across to clients, allies and competitors with respect to recent developments in the industry. Agents make more calls per day as compared to other professions.

4. Rate potential buying clients – The interest of the selling clients should be considered and matched with the potential buyer. This necessitates the pre-screening of potential buyers.

5. Agents advertise listings – This is an obvious day to day task as agents know that buyers are constantly hunting for opportunities.

6. Maintaining an open house – Agents are concerned with security, marketing, holidays and snack foods before open houses.

How Are All These Fitted Into The Day

7:30am – Agents are already at the office studying the business section of the local newspaper, MLS recent activity report and Wall Street Journal business section.
8:15am – Power on the PC, check the mail box to see if there is any recent mail, then compile a list of new prospects.
9:00am – It is time to meet with the manager to exchange ideas and brain storm on the way forward, discuss client’s needs and get prepped for the day.
9:30am – It is time to pick up the phone and start pushing contacts, setting up meetings for future dates.
11:30am – Discuss with new colleagues and sharing success rates.
12:00pm – it is time to meet with pre scheduled stake holders and discuss the way forward. All lunch meetings must be business related.
1:30pm – Agents are back on the phone contacting relevant personnel and returning voice mails as well as emails.
4:00pm – More research is in progress and clients are informed about any development that has resulted.
4:45pm – Contact the home to be updated with the happenings at home.
5:00pm – It is time to prepare the materials for advertising and marketing.
6:15pm – Since the sales manager wants an update on all transactions so far, a presentation must be created immediately and new goals are put in place.
7:15pm – Planning is everything so agents visits prospective homes and plan how to make a presentation to buyers and also strategies on how to make the experience an exciting one.
7:30pm – Time to discuss with colleagues at the industry to broaden the perspective and knowledge.

Continuing Education Of Agents

There are different requirements by different states with respect to the continuing education of agents.

California: The states expects agents to be updated for 45 hours every four years with knowledge bordering around trust funds, fair housing, ethics and agency.

Virginia: The state of Virginia expect agents to be educated for at least 15 hours every two years in the areas of ethics, fair housing, agency and the legal perspective.

Texas: This state requires agents to be educated for a minimum of 15hrs every 2 years on ethics and legal issues.

The state of Pennsylvania and Arkansas expects agents to be educated on anything for 14 hours in 2 years and 6hours every year respectively.

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