New real estate agents may find that they don't have to "list to last."

Anyone who has been in real estate or wanted to become a real estate agent has heard the saying that you must "list to last." Of course, it's referring to taking listings, and the fact that your business can't survive if you don't build your listing inventory.

I don't think that it's ever been true for everyone, and it's even less true in the new real estate marketing world that's so dependent on the Internet. It was a tough decision for me, but in late 2008 I decided to give up listing and become a buyer broker only. I love it. I never liked trying to convince vacation home sellers that they had unrealistic ideas of the value of their homes in the market. I didn't like the marketing costs involved, and definitely didn't like being asked to take on housekeeping tasks for sellers while the home was listed.

It was still a hard decision, but it became easier in the failing markets beginning in 2007. One day I just got rid of all of my signs, print advertising, and announced to the world via my WordPress blog site that I was now officially a buyer brokerage. Would I be making more money right now if I listed? Probably, but that's gross income, and my expenses would go back up to 20% or more of revenues, as they were when I listed before. Also, I'm happier working only with buyers, and that's worth something.

My marketing overhead is about 4% of sales this year, and as the market improves, that number will decrease. While some real estate professionals complain about time wasted showing buyers homes, I find that much less of a problem for me than the amount of time I put into a complete marketing effort for a listing, including photos, individual listing website, print ads, reports to the seller, etc. All I do is work the Web, and I get some really great buyers.

Whether a new agent wants to list or not, considering buyers not worth your time while trying to build a listing inventory can hurt you when it's most important to get some income flowing. Yes, you'll show homes without a sale, and yes you'll use some gas money and put miles on your vehicle. However, it could be less money than you'll put into setting up and marketing your first few listings. At least consider buyers as important as sellers in your new business. You may just find that it's a niche you can learn to love and profit from.