We’re living in challenging times, writes Mark Morrison. The COVID-19 pandemic is impacting every aspect of our lives. No doubt, like me, every time you turn on the TV or scroll through the news on your phone or tablet, you’re flooded with news about the coronavirus, much of it negative.
The real estate industry has been hit hard, and we’ve all been forced to dramatically alter the way we do business and interact with our clients. Yes, agents and businesses are doing it tough. But in the midst of so much doom and gloom, it’s important to look for the positives.
For sales agents, as listings fall away and commissions begin to ebb, there are opportunities to explore alternate income and wealth-creation streams.
In tough times, when the market trends downward and sales begin to dry up, a strong property management department often sustains an agency. Many agency owners use the income generated by their rent roll to keep the doors open and carry them through difficult times.
That’s good for agency owners. But what about sales agents? Why shouldn’t you have access to the same opportunity to earn the regular income and long-term wealth generated by a rent roll?
It’s a state of affairs that’s perplexed me for years.
Property management hasn’t traditionally been a priority for sales agents. You’re focused on driving sales. The small reward you receive from the agency owner for passing on rental leads is little incentive when compared to your sales commissions.
I strongly believe it’s time to challenge the status quo. That’s why the Agency HQ model has been developed — to give sales agents the opportunity to take control of their financial future.
There’s vast potential in your sales database, and Agency HQ provides you with a unique opportunity to tap into that potential by building a rent roll that’s 100 per cent owned by you. Importantly, Agency HQ’s rental arm will completely manage your rent roll so you can focus on what you do best: listing and selling.
Consider the potential and what it could mean for your financial future.
Times are tough at the moment. Unfortunately, there will be those who suffer financial hardship or lose their jobs, and there will be others who lose their businesses. But history shows us that the real estate industry always bounces back. Being prepared to adapt, innovate and embrace new opportunities will make all the difference to how you emerge on the other side of this crisis.
The COVID-19 pandemic will end, but your future in the real estate industry doesn’t have to end with it. By changing your perspective about how a sales agent traditionally builds wealth, you’ll be in a stronger position moving forward.
Mark Morrison is the CEO of Agency HQ.