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Why be a Real Estate Consultant?



Beef-Up Your Bottom Line with Real Estate a la Carte Consulting!

Good for you, reinvented agent!  You’ve determined what one hour of your professional time is worth and now you’re ready for the exciting part---applying it to your business.  The following are applications of fee-for-services consulting that can help you become more consumer-centric while beefing up your bottom line.

Step Away from Free!:  The next time you present a CMA and the seller instructs you with, “Thanks for coming to talk to us today.  We’ll get back in touch with you.  In the meantime, just leave your market analysis there in the pile with the other twenty three”, I challenge you to retort with your own rendition of the following:  “Mr/Ms. Consumer, I work differently than most other real estate agents. Like CPAs, attorneys, and other fee-based professionals, my time and analytical skills are my stock-in-trade.  I prepared this CMA to determine approximately what the home would sell for, but my professional practice is not to leave the analysis with you unless you decide to work with me.  If you’d like to purchase it from me, however, it’s available for $____ which covers my time and expertise to produce it.”  As Dr. Phil McGraw, the Oprah-branded psychologist says, “The most you’ll ever get is what you ask for”.  

Analyze The $$$ and Sense of Doing Business:  Until you perform your own triage on the amount and type of expenses you typically incur in a real estate transaction, you won’t make much of a dent in improving your bottom line. For two or three sales try evaluating every dollar you spend BEFORE you spend it.  For example, is it really necessary (and/or wise) for you to hold an open house on a property that’s not likely to sell via the open house?  Just how much does an open house cost? At an hourly gross fee of $150, you’ll be spending a minimum of four hours doing low-level tasks like schlepping signs and printing flyers.  That’s at least $600 in expenses that make absolutely no financial sense (not to mention potentially generating no viable leads).  Unless the seller is willing to either:  a) hold the open house himself and harvest the leads for you; or b) pay to reimburse your costs, you’re racking up expenses that will do nothing but detract from a positive bottom line.

If you’d like to learn more about profitability and fee-for-services, sign up to take the C-CREC® designation here.

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