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  1. #11
    Join Date
    Sep 2008
    Posts
    7,009

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    Almost 16,000 real estate salespeople had just 5428 residential property sales between them in September, data shows.

    under normal conditions, there were only about four properties sold per agent per year.

    A small number of agents would sell many more than that, leaving many people barely making an income.


    "The vast majority of [salespeople] who get into the industry drop out in the first three months.

    It's such a waste of time and money for so many people.

    It's soul-destroying."


    That means at least two-thirds of agents went through the month without a pay cheque.


    https://www.stuff.co.nz/business/978...umbers-plummet
    Last edited by eri; 12-10-2017 at 04:18 PM.
    have you defeated them?
    your demons

  2. #12

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    The good agents will tough it out the crap will be flushed out and so it should they were doing the industry a disservice.

  3. #13
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,480

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    Quote Originally Posted by datacraft View Post
    The good agents will tough it out the crap will be flushed out and so it should they were doing the industry a disservice.
    Yep, capitalism.

  4. #14
    Join Date
    Apr 2004
    Location
    Auckland
    Posts
    1,769

    Default

    I've gone to quite a few open homes around Auckland lately.
    Haven't received one follow phone call from an agent.
    Guess they aren't hungry enough to be chasing buyers yet.
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  5. #15

    Default

    Quote Originally Posted by PC View Post
    I've gone to quite a few open homes around Auckland lately.
    Haven't received one follow phone call from an agent.
    Guess they aren't hungry enough to be chasing buyers yet.
    There are professional agents, those who do what they do as a business, creating quality data bases of buyers and sellers, who chase down sales and even in a hot market chase down buyers to maximize sales price - these are the agents I sell with. These agents are the ones who will survive a slowdown in the market.

    Then there are agents who get into RE as a low qualification required job sometimes as a career change when they get sick of whatever it was that they did and decide to make a change, some of these guys/gals spend little time developing their 'business' and are more 'order takers' than sales people. They're the ones who make sales in a hot market to the first person who turns up with cash. They don't know how to sell they're lazy and when the buyers drop away they don't know how to generate interest, negotiate with prospective buyers or handle objections. The sales dry up for these guys and they go back to whatever it is they used to do.

    If sales volumes continue at this low level, we will see the no. of agents drop dramatically. Where I operate a local agent told me their agency did 16 sales in a month (might have been August) double the next agency, with 11 agents in the office, he did 3 of them and wasn't the top agent. With min 7 (of 11) sales from 2 agents the remaining 9 agents shared 4 sales amongst them. In a location where average sales are $600k at 4% commission $24k commission befor agencies cut (say a third) - the remaining 14 agents made on average $1100 each gross. How long can they maintain this level of income?

    The second agency in monthly sales doing 8 sales has a lot of agents too. Not sure the exact number but it would be 10+. Might be a lot of 2 min noodles on the menu for thsee agents.

  6. #16

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    Best advice I ever got was to keep investing and improving your portfolio quality and cashflow because businesses and jobs all have cycles too. I added over 100k passive in the next two years.

    A guy I know in Tauranga does a lot of sales and he couldn't work out how other agents are surviving. He runs his operation extremely well, I still get emails from his competitors dat r in txt spk.


 

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