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How to make more money in real estate

Boost productivity through niche marketing, lead prospecting

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What are your New Year's resolutions for 2005? Most of us resolve to make more money. If this is one of your resolutions, a great place to begin is by expanding what is most profitable and eliminating money-wasting activities. There are two ways to make money: you can earn more or you can spend less. The easiest way to earn more is to expand your existing profit centers. For example, if you have a successful farm area, expand into a neighboring area. If you regularly convert Internet leads, expand the scope of your Web site or drive more traffic using pay-per-clicks. If you like representing first-time buyers, spend more time prospecting rental housing. The key point is to build on your strengths. While many agents focus on earning more, few focus on eliminating non-revenue producing activities. In some cases, market conditions change. What was profitable yesterday may be a money waster today. In other cases, agents do not attract where their leads originate. Unless you track how m...