There are a lot of different success MODELS for real estate agents:
– Solo agent
– Solo with admin assistant
– Team small (2+ agents)
– Team large (5+ agents + staff)
– Team expansion (10+ agents in multiple markets)
And within teams, there are:
– team leaders (get all the glory and profits … but have the biggest financial risk)
– team members (specialize in one area … often eliminate downside cashola risk)
– staff (licensed and unlicensed)
Which model is best for you?
Depends on your personality and goals.
In a perfect world, the team model is best:
– centralized resources
– specialized focus and mastery
– higher production per team member
– consistent income
– more time off for the agents
But … that is a perfect world.
Often, teams struggle because:
– slow to adjust to changing markets
– high overhead
– lead sources dry up … or radically increase costs.
Lately, I’ve been discovering a NEW breed of agent
… the super solo agent.
(Or maybe this is just an old breed … super charged.)
These solo agents:
– are fast to change
– can implement new ideas rapidly
– master one lead generation method
– have low cost structures
– boast the biggest profit margins (as a percentage of GCI)
Their biggest risk is getting sick or hurt and not being able to work.
However, when done right, they can earn extraordinary incomes with small financial risks.
Per production, let’s talk about units closed PER AGENT (self production).
The “average” agent in America sells 4 homes per year.
(Yes, the average goes up and down slightly, but this has been a constant for decades.)
Above average agents sell 6-12 homes per year.
Good agents sell up to 25 homes per year.
Great agents start maxing out at 30-40 homes per year (without an admin).
Amazing agents (with an admin) are closing 50-60 per year.
Super solo agents are closing 70-80 homes per year (rare, but I’ve met several in the last few months).
And I even know one extreme SSA who sold 96 homes in one year (very rare).
Now while a team leader may net 10-20% in a solid year
… a solo agent can net 60-80% per year.
Although teams are often working with a bigger gross revenue
… I am seeing super solo agents who are earning the SAME take home pay
… with fewer management and overhead headaches.
So with all that said:
What do you think?
Are solo agents making a comeback?
Which model do you think is best?
Are you a solo agent … team member … or team leader?
Tell me your thoughts by clicking the link below.
– Mike Cerrone
Master Mind Agent LLC
P.S. Join the solo agent discussion on Facebook …
Tell me what you think about the rise of super solo agents.