Brokers Need to Go Back to Basics, Says Sales Guru

Sales and real estate guru, Tom Hopkins, sold 366 homes in the fourth year he was an agent—he was 23 at the time.

Tom Hopkins sees great opportunities for brokers who work hard in the next few years. Photo courtesy of Tom Hopkins' office

Sales and real estate guru, Tom Hopkins, sold 366 homes in the fourth year he was an agent—he was 23 at the time. More than three decades, and a few financial cycles later, Hopkins takes a look at the industry and what brokers need to do to survive today.

“Brokers have to understand that they have to be able to convince sellers ... they have to be very realistic to the true market and not just get what they want,” Hopkins said.

Prior to the last year and a half, were seven of the best years in history for the real estate market, Hopkins said. “And the people who have been around realize that the appreciation was drastic, bigger than ever.”

The recession has cleaned out the glut of brokers in the real estate business, he said. “You know, everybody and their brother got a real estate license and there were too many realtors. Today, they’re leaving the business in droves—which is so good.

“The market is turning, and now is probably the best time for hard-working realtors to really make a lot of money.”

Following-up and keeping in touch with clients is what sets the good brokers apart, especially today, Hopkins said, going back to basics is key.

“Master the art of selling, don’t just be a salesperson,” Hopkins said. “Which means you invest in books, in CD’s—school is never out for a professional.”