If you’re looking to increase your bottom line, follow these three steps.
Sometimes, real estate professionals can make some pretty obvious mistakes. This isn’t anything to be ashamed of, of course. After all, no one is perfect.
Still, sometimes these mistakes can keep us from realizing our potential. One such mistake is putting all of your focus on the number of homes you’re selling each year, rather than your net income. It’s your bottom line that really counts.
“The average price of the homes you sell will directly impact the amount of income you make.”
So, with that all said, let’s go over the three main ways you can boost your annual earnings:
The first way is to sell more homes. I know I just said this shouldn’t be your focus, but that’s mostly because the people who put all of their attention on sales volume tend to neglect the second strategy on our list: to charge a higher commission. So long as you’re creating value for your buyers and sellers, then your commission rate won’t be an issue. Like you, their focus is (or should be) on their bottom line.
The third and final strategy I’d like to share is to start selling higher-priced homes. It will always be more profitable to sell a few higher-end homes than to sell a ton of super-cheap ones. Not everyone will be able to break into luxury markets, but everyone can start seeking out homes in higher price points than the ones you’re working with now. I’m not saying you should shun lower-priced homes, but it is worth noting that the average price of the homes you sell will directly impact the amount of income you make.
If you have any further questions about how to make more money in your real estate career or on any other real estate topic, don’t hesitate to give me a call or send me an email. I look forward to speaking with you soon.
