Hi, everybody. This is Mike Staver, a weekly video series where I answer questions from people like you. Here’s this week’s question.
Real estate companies continue to financially burden realtors with inventory and listings and an all-time low beginning in March 16, 2020. That’s been a long time. Huge monthly fees that were only way for one month in May of 2020. What can we do as members of the National Association of Realtors to survive?
It’s unconscionable, as realtors are impacted in the same way as millions of other unemployed workers. My guess is that you would not ask this question now because the real estate market’s on fire. The real estate market is hotter than it’s been in most of our lifetimes, at least in the last 20 years, but what you can do is this, you can start to build a business and not just transactions. What tends to happen in sales-intensive organizations like real estate, is that realtors and people who are in the real estate business tend to be transactionally focused and not building a business focus.
If you get your focus around, I’m building a business and I’m building net worth and I’m creating a process by which I can be sustainable, you’re going to be a whole lot more successful. I don’t know how to get you to get the largest trade association in the world to reduce fees. My guess is, right now you’ve probably sold a lot of houses since you sent this question. I don’t know when you sent this question, but you probably had a pretty good year in 2020. Build net worth, don’t chase transactions, and then talk specifically with your individual broker or manager about any stressors or challenges you have. Talk about things like deferments, that kind of thing, if that would be helpful. Hope that answers the question.
Be courageous. Take care.
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