Pet Peeve: Million Dollar Producer
Don't be fooled, an agent who's a million dollar producer isn't all that impressive. What does it mean exactly? Watch or read why this declaration bothers me.
I have a lot of pet peeves about real estate. One of them is agents who promote themselves as a Million Dollar Producer. Personally, I don’t get agents who promote themselves using industry terminology that isn’t widely known by the public. But this one just lends itself to so much misinterpretation. Does it mean they earned $1 million in commissions in a year? No, it most certainly does not. It means they sold a million dollars worth of homes in a year. That’s right. Even before the hyper market we’ve seen over the last few years, it really just meant that the agent sold 1, 2, or maybe 3 homes in the Austin area market. Wow! How impressive! Do you want to hire someone who only sold 3 homes last year? Well, actually, many people do. In fact, in 2021 66% of Austin area agents sold 5 or fewer homes. For what it’s worth, I ranked in the top 3%. So next time you see an agent claiming to be a Million Dollar Producer, you’ll know not to be too impressed.
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