Why Industry Doesn’t Pay to Real Estate Agents?

Hello There, this great article for agents for them to understand; why when they’re coming into this real estate industry? and the industry doesn’t pay them a  basic salary ?

How real estate agents can actually get paid a basic salary?

This is also for the buyers  and the sellers to understand how the industry operates and why it sometimes operates not in their interest.

Look if you want real estate advisors working in your favor helping you every step of the way. All right guys, so for those who don’t  understand how the General Industry operates in Dubai and most other places in Dubai, most agents almost work like independent Consultants or  independent contractors.

They are on a commission of sometimes in Dubai. How it works is most agents are on a 50 50 split or is 65 35 split the agent’s keeping this.

If they get paid a 3K to 10K salary; so some agents get paid that then they would be on a 30 70 split sometimes. So the agents are again taking this everything in white is what the agents are taking now I’m referencing. This part okay where they’re getting zero salary. They’re on a 50 50 split or a 65 35 split.

Why don’t agents get paid?

Why do most agencies not pay them. Its a very simple reasons for this and this is what it is the first reason is; so let’s just first reason is there’s no system.

Okay which gives rise to more to an operating cycle that’s more like a jungle.  Which can actually cost the buyer and the seller money because of the way that  because of the way the market operates. It can actually cost the buyer and the seller actual money. So why the industry doesn’t pay I’m gonna move this. So number one reason is there’s no system the agents suffer because  it’s kind of like a jungle.

Dog eat line eat line dog eat line or the biggest cat eats the smallest cat and buyers and sellers they  sometimes can end up losing money because in the jugular sometimes those who have got more  experience operating in the jungle are going to win out so if you’re a buyer or a seller sometimes buying your first or selling your first property.

Sometimes an agent who’s got more  aptitude Adept at dealing in the jungle of the market can actually win I don’t  favor that system I think there should be a system a framework under; which most people operate and then be able to actually then give that kind of service that would benefit  the end users right number two the attitude.

The attitude is for selling and what does this actually translate into for most Asians. It’s a very pressured situation, which actually for a buyer and seller leads to a lot of pressure like so pressure selling happens. I don’t believe that that’s good for a buyer seller buyers and sellers should be able to make good decisions by taking their time with all the information available.

If you want to work with expert advisors who will give you the time of day to be able to make good decisions okay number three long-term care. That’s lacking for the investors okay so here again there’s lots of money because agents don’t care. They have a short-term mindset

okay and number four is experience right. The most agents don’t have enough experience. They have low experience again it would translate  into money lost over here for a buyer and seller.

Now if you’re an agent, then what do you need to do. First of all you got to make a commitment to yourself that no matter. How things are you’re not going to operate as if it’s a jungle. You’re going to hold yourself to high ethical and competency standard. You’re gonna go out there looking and seeking actual knowledge and expertise from a mentor that makes sense. The number two you’re going to get rid of the sell mindset. You’re going to actually deliver value to your clients okay so number one.

What do you do here find a framework?

So coming back now if there’s no system and  it’s a jungle you’ve got to decide that you’re going to operate with the framework find a mental  Mentor not a mental if the attitude is a sell. You’re gonna stop and provide value  you’re not going to look at short-term mindset. You’re going to look for the long-term benefit  of the investor, long-term benefit and last but not the least. You’re going to continue to work  to gain expertise which will come with experience.

This is the reason why the industry doesn’t pay they pay you either 50 50 or 65, 35 split if you’re on a commission or salary. Then the commissions are very low. Okay there’s no system the attitude ,is troublesome. There’s no long-term care and there’s experience that’s

lacking so they bring you on. On this it’s either sink or swim right. What you need to think about is the buyers and the sellers are the ones that  actually don’t benefit.

So you’ve got to come up as an agent develop yourself into a framework with a mentor think about providing value. The value get out of the mindset of a short-term benefit only for yourself. Look for the law long-term benefit for the investors and last but not the least gain experience. How do you do that how do you gain expertise by gaining experience you will make  mistakes that’s okay lift your competence level by making or learning from the mistakes that others make and internalising them.

Leave a Comment