According to a study conducted by Real Estate Express, agents who focus on a specialty make significantly more money than general practitioners.
How much more?
Agents who report, “I don’t have a specialty,” have an average income of $64K/year.
Agents who report, “I have a specialty,” have an average income of $129K – $183K/year.
Some common specialties include:
Affordable Housing
Property Management/Rentals
Military
Condos
Multi-family Properties
Investment Properties
Second Homes
Foreign Investment
Relocation
Highlighting this information in the recruiting process can set you apart from your competitors. Here’s your script:
If you work for Company A, you’ll likely be a general-purpose agent.
If you work for us, we’ll teach you a specialty where you can earn two to three times what general purpose agents make.
Most savvy businesspeople (the type you want to hire) understand the concept of capturing higher profits by focusing on a niche.
Help them see you’re just as smart.
