How to make more money in real estate

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...