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.