Posted by David S on March 30, 1999 at 07:40:34:
Charlie, sorry to hear business is so slow. 29 million in retail sales sounds like a ton of commissions, but if that’s all you have sold your agents aren’t making any money in your firm. If the (large) firm has only 10 agents and the avg (split) commission were to be as high as 5%, your avg agent only made 72,500 per year over the past 2 yrs. I would think many are co-broker deals with commissions as low as zip which brings that average down considerably.
Knowledge without action is worthless. I can’t imagine that in the past 2 yrs you haven’t seen a deal that just ‘rocked your world’. Perhaps your agents aren’t trained to seek out the truly ‘motivated sellers’ for if they were, you would have seen deals that you just could not turn down.
Since I don’t know your area, I would suggest that you start somewhere, anywhere, just start today. With all of your knowledge, you must have some idea of which area of the business is of most interest to you. Jump in and get started. You should have the advantage of knowing the lenders and their pitfalls so financing shouldn’t be too much trouble.
Good Luck! David S