As we all know there has been an explosion of new agents and Realtors across the U.S. and probably Canada. Yet we're all too aware real estate is most likely one of the easiest fields to enter, right? For most states passing a written exam is about all it takes to obtain a salesperson license. Yet how much does one actually know about selling real estate after passing a written exam? I sort of equate the salespersons exam with taking a written driving test, fine we'ce all passed a written test (big deal) but do we know how to get behind the wheel and drive. I've used this analogy with clients for years. 
I recently read Eileen Landau's blog on Profile of a Realtor, average age, maritial status, etc. which also provided some great info.
Yet, on the other hand, staying in the real estate business is another issue. Another recent NAR survey provided some information in addition to that mentioned in the Profile report:
- 50% of members have been in the business five years or less
- 25% of new licensees fail/abandon/dropout (whatever you prefer to call it) of real estate within the first two years.
It's long been my opinion that the dropouts usually fall into several categories:
1-2: YEARS
- Some realize it's far more difficult than anticipated, and/or realize it's not for them
- Some possibly lived on/used up credit card limits and/or a HELOC.
- Others may have a spouse who wants them to get a real job, translated (because of #2) a regular pay check.
2-5 YEARS:
- Possibly a little carry over from reasons #2 and #3 listed above.
- Change in market conditionsmaybe like our current market?
- Change in family status, divorce, health issues.
The survey shows that once you pass the five year mark, you're ahead of the pack. Members with 5-10 years represent 15% of the membership. And those who can truly measure their careers in the dog years, are those who have been in the business 10 years or longer, represent 35% of NAR members.
It's also interesting to note, the survey said most Realtors® said they optimistic about the future. 80% said they are confident and will remain active in the business during the next two years. My very first real estate instructor, explained approximately one-third of those in the business were brand new, about one-third of those were on their way out and just didn't know it, while the other one-third was the main-stay of the business. I think he was a very wise man.
Obviously I know that longevity doesn't always translate into knowledge and competence. We've all heard the old adage of the geezer bragging about 20 years in the business, yet has merely repeated the same "one year 20 times." However results bear out, those with more than 10 years active experience, earn a higher income and have more professional designations. I wonder which one comes first?
Now, I've read(based on average) a dog lives somewhere between 10-12 years. And it true it depends on many factors, right? So, according to stats the average real estate career is 7 years, how old does this make those who are 10 + years?
Now please, don't get me wrong, I know we all have lot's to learn from each other, new/experienced young/old (and I loved the term beginner's mind ~ from Mike Montague's post). And there is room for those who know their stuff, work hard and give back to the industry, old dog or young pup alike.
So the next your looking around the rain, take a look at those who've been around for more than five years. Do the math yourself, how does they stack up in dog years?
Or those with more than ten years, will you make it? Remember, they may be a little long in the tooth, yet no doubt they have been through ups and downs, and have been willing to embrace change. Throw them a bone every now and then for being the main stay of the business. Ask those 10 + folks how many thought for one minute they would be participating on in an online community today like AR?
Or better yet, did you?
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