Daily Real Estate News  |  September 17, 2009  |   Find the Joy in Real Estate
7DS Associates managing partner Robert Hahn says there are several ways that real estate practitioners can parlay their love of sales and marketing into higher profits.

They would be smart, for example, to seek the advice of a tax professional to create an S corporation or a limited liability corporation, which would lower their tax bills by allowing them to deduct business expenses. Agents also would be wise to spend more time on lead management, as dedicating too much time to marketing makes little sense if they have not cultivated the necessary leads.

Additionally, it is important for agents to develop customer surveys to gauge client satisfaction, given that the National Association of REALTORS® says 65 percent of customers lose contact with their salesperson after the deal is closed. Another method of generating feedback is face-to-face chats with clients.

Hahn notes that agents will have more fun with their work if they take steps to generate more income, keep more of the money they earn, and make their operations more efficient.

Source: Inman News, Robert Hahn(09/16/09)

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