On The Market 127: Why 87% of Agents Won’t Make It In This Market w/RE/MAX President Nick Bailey
Real estate agents had it made over the past two years. When mortgage rates were low, buyers lined up to make bids, sellers were ready to upgrade, and properties were flying off the shelves. For almost any agent in any market, business was booming, and it seemed like it wouldn’t ever stop. Then mortgage rates began to rise, monthly payments became dangerously unaffordable, and the agents looking for easy commissions disappeared. But what if an industry expert told you there was still hope to help buy and sell homes?
Nick Bailey, President and CEO at RE/MAX, has been in the real estate business since he was a teenager. After buying the building his local pizza shop operated in, Nick went on to house hack in college, building an impressive career at not only RE/MAX but Century 21 and Zillow. He understands the agent business better than anyone and wants YOU to know the secrets to success.
In today’s episode, Nick touches on the shocking statistic that most real estate agents fail, why average agents are struggling in today’s market, how homebuyers can get around today’s high fixed interest rates, and the one thing you NEED if you want to take home consistent commission checks.
In This Episode We Cover:
Fixed-rate vs. adjustable-rate mortgages and new loan products that put buyers in a better position
Market trends and why fix and flippers are becoming (temporary) rental property owners
Why most real estate agents fail (and the steps to success that top agents follow)
How to find a great agent, whether you’re a first-time home buyer or investor
Niching down and why modern agents will FAIL if they can’t find their focus
Why agents MUST do more than sell real estate to build wealth
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Books Mentioned in the Show
The Agent's Edge by Jordan Cohen
Connect with Nick:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-127
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