Legendary real estate trainer, Mike Ferry released a report in August of 2014 suggesting agents pick one side of the transaction.
“I believe the skill set of an agent who works with buyers is completely different than the skill set of an agent who works on listings. Yes, they both have fundamental skills that all salespeople need … the ability to manage your time, the ability to follow up on leads, the ability to prequalify, the ability to present, etc.”
Mike Ferry went on to state:
“… The skill set of a listing agent and buyer’s agent are different from that point forward, meaning the ability to present in a fashion that causes a buyer or seller to sign a contract. … I (have thought) for years that when an agent gets their license they should have to actually declare, ‘I want to work with buyers’ or ‘I want to work with sellers.’ The majority of agents do not have the total package of skill sets to do both and, in most cases, aren’t willing to learn them because they are so vast and … if they chose one and learned it well and practiced it … they could, then, possibly in the future learn the other one.”
Real Estate coach Bernice Ross had this to say, “Sadly, the majority of agents lack the skills to do either job well. Every year hundreds of thousands of licensees fail to close a single deal. In some areas up to 80 percent of new agents fail to renew their license on their first renewal date. In fact, as early as 2001 the National Association ofRealtors was reporting that 7 percent of the agents were conducting 93 percent of the business. Even today, the best estimates indicate that 10 percent of the agents are still conducting about 90 percent of the business.” -Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles and two best-selling real estate books.
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