I just read Number of people moving drops in Erie Times and I heard the same story repeated half dozen times on cable in last twenty-four hours. With more & more bad economic news every time we turn around--Is this really a good time to become a real estate agent? Absolutely!!!
This is a Great Time to get a real estate license. Let's look at the facts.
- Fact #1 80% of the business is being done by 20% of the agents.
- Fact #2 One third of the agents are leaving; one third just getting into the business; ONLY one third are working
- Fact #3 The agents who have been in real estate for more than 5 years don't want to work as hard as they did when they first started in real estate and the current economy requires
- Fact #4 The old guard don't want to embrace new technology
STATISTICS and MORE STATISTICS The turnover statistics have changed very little over the years. Many people take real estate classes, but never sit for the real estate exam. Others pass the test just to prove they can, but they never apply for a real estate license. Of those who get a license most will be out of the real estate business within two years. Truth is that most of those who get out within their first two years never sold a property.
I first heard these stats as a student in pre-license classes. I promised myself that I would work and that I would succeed where others failed. Out of a class of 40+ students in 1986 only two of us remain and that person only did real estate part-time for 20 years while working another job.
Fact #1 80/20 This may be too generous. In reality it is probably 5% are making a good living and 95% are just there.
Fact #2 Which one third do you want to be in?
Fact #3 Some of the agents who got into real estate years ago are getting tired and don't really want to work as hard. That is more opportunity for newcomers to scoop their business.
Fact #4 Tech will never replace agents, but agents with technology will replace those who don't have it
The answer is simple: Follow your dream. If you are determined to get into real estate and are willing to work hard, you will be successful where other fail.
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