By Drew Burks
Breaking News …
OK, this is hardly breaking news, but after 10 years in the real estate game this may come as a shock to a few people. To be honest, it kind of shocked me that I am actually throwing in the towel!
The past couple of years I have come to understand that my purpose in life is not to help people buy and sell homes, but I think I always knew this. The real eye opener came when I realized that my life purpose was not to help REALTORS® find a way to be more successful, because I truly believed that was my life’s mission.
The good news is that I now see clearly, what my life’s purpose is. But that is another blog post, you can read it on my blog: Drew Burks. Right now I want to explain why I am officially quitting real estate and what I mean when I say quit real estate.
I quit being a “REALTOR®” and being a “real estate broker for licensed salespersons.”
I will continue paying my REALTOR® dues, volunteering my time for the San Diego REALTOR® Association and possibly NAR. I have created a strategic partnership with three San Diego REALTOR® teams to develop online lead generation funnels in exchange for a referral fee on closed deals.
OK, so now that you have a clear understanding of what I mean when I say I quit real estate, let me tell you why I quit …
I closed a short sale transaction early January 2011 with awesome buyer clients. My clients were referred to me from one of my favorite past clients. I worked with these new buyers for more than a year, showed them close to 200 homes, and finally …
… they found a house they really loved AND of course it was a short sale! But this wasn’t really the problem or what made me throw in the towel. The two primary reasons I quit are:
1. The realization of just how little control a REALTOR® has when it comes right down to it. More on this shortly.
2. The unprofessionalism that short sales and REO transactions have brought out in our industry.
There you have it; I have officially closed my last escrow for the time being.
Back to the first reason I mentioned, how little control a REALTOR® actually has. As a new father, I am more focused than ever and this transaction made me realize that being a mere participant in my business is NOT enough security for me.
Think about what I am telling you… no matter how great of a REALTOR® you may be, you only have so much control (yourself). You cannot control your clients, the other agents, or the banks. In this last transaction I was only one of about a dozen people involved.
My family deserves much better odds than this!
I am publishing this post here because I know there are thousands of really great REALTORS® out there who are struggling to make ends meet. On a recent post by Brooke Wolford, she wrote “I read somewhere that the average agent last year closed one transaction. I don’t need to say anything further.”
What’s worse is most of these REALTORS® aren’t fulfilled when it comes to their real estate business. If you are one of these REALTORS®, I encourage you to take some time to really examine the business and do only the portion(s) that you LOVE doing.
Example: I LOVE the world of social media, blogging and Internet marketing! It is this clarity that allowed me to develop strategic partnerships with local teams of REALTORS® who LOVE being REALTORS® in exchange for a referral. They get to do what they love, I get to do what I love, and all is good!
Consider this — as a broker I was getting 10 to 15 percent of each transaction my REALTORS® closed, but I also had 100 percent of the liability! Now I collect 25 to 30 percent on the closed deal with zero liability. The agents that I have partnered with have a new source of business that they didn’t have before — a great deal for all parties!
So quitting my job as a REALTOR® and a broker for agents I have tripled my income while eliminating the stress and doing what I didn’t enjoy, not to mention removing the liability that comes with brokering agents.
Gary Vaynerchuk said it best in this video …. “you can lose just as much money being happy as hell!“