I have seen many posts on AR and other internet sites about new agents and their inability to service their clients. Hoorays are sung and blogged about when these agents drop out of the business. New agents seem to be just as popular as used car salesmen.
Why is this?
Isn't real estate a "people based" industry. Don't real estate agents educate and train themselves to help people find their dreams? For many, I would say that homeownership is their dream. For the buyers who already have their dream, I would say that their houses are their castles. Who wouldn't want to enter an industry where you can help people realize and find their dreams?
Now I get that there are real estate agents who enter the business and they expect to make a quick buck. Can't this be said of some real estate agents who hang in by a thread, but exist in misery from year to year, not ever getting ahead because they feel they are owed the business.
Some of these same agents are the ones who are slow to adapt to the changes in the real estate industry has this last decade. I bet there are many of these agents who would poo-poo the thought of blogging, feeling it is a complete time waster and that it won't produce any real business.
I have also seen agents who are "top producers" (sorry for the quotes, but it seems that this term has become commonplace- is everyone a top producer now?) but have stepped on toes to get to their spot. Do they have the abilities to serve their clients? Do these specific top producers have the patience and steady guiding hand to act as a knowlegable adviser to their clients?
Sure, I don't sell real estate, but I have worked with real estate agents for 15 years, starting in a real estate attorney's office for the first seven years of my career. I have worked with agents from all different franchises, all different ages, skill sets and backgrounds, and one thing is clear to me: People want to work with someone who they know, like and trust.
Can a newer agent (less than 3 years in the business) study the market diligently and serve clients well?
Should we be pointing these newer agents to the exit sign or should we encourage the hard working, honorable, and knowlegable agents to hang in?
Couldn't our industry use more great agents and less naysayers and morally questionable folks?
A new agent can certainly serve their clients well. I've been in the business since 1998 full time and got interested in Real Estate back in 1990 when I was in Rochester NY. I've seen brand new agents that were fantastic, educated people. I've also experienced veteran agents that I simply did not understand how they remained in business for that long.
(keep in mind that "back in the day", the agents held quite a few of the cards. Consumers were not able to simply "log-on" and get info like they can today). I've spoken to many agents that just refuse to "give up control". I can see valid concerns on both sides but the market constantly evolves. Newer agents for the most part, are tech savvy and this can give them an edge. They have to use what they can to get established.
Don't get me wrong, It's a tough business. I'm in an area where the median home price is quite high. Sellers (rightly so) want professional agents who know the market to represent them. I've always felt that newer agents can gain a great deal of experience working with buyers and their personal sphere when starting out. It does take time for that repeat business to "kick in" so the first few years can be tough.
On the other side of the coin, I started slow for about the first year and then "went crazy" ever since. You never can tell. Professionalism is the key in my mind.
I do agree with you... I'm always amazed at some of the "happiness" when established agents comment on people quitting the business. Real Estate is one of the only fields that I've even been in where established people in the field seem reluctant to share their experience with newer people in the field. I guess it's the nature of the business.
Currently, I'm involved with a commercial brokerage and we do large development projects (60,000 sq/ft office professional, 53,000 sq/foot office and a 100,000 sq/ft Wellness Center / Medical Facility are 3 of our current commercial projects). I'm very happy to share our experience with our newer agents. Especially the ones making a transition from rersidential to commercial.
I tell our newer agents to get involved. You have to learn the business, talk the talk, walk the walk. Get out and go to those brokers opens (heck, it may be your only lunch for the week!) , talk to agents, attend free classes that your board may offer and dive right in.
You make some very good points in your post. It's a tough business. Newer agents need help and training to get going.
Brian- That's excellent advice and I am glad to hear that you are willing to share with newer agents. One of the things I do see more on AR than in many other places is this willingness of some more experienced agents to share with the newer agents. What a great way to be.
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A new agent can certainly serve their clients well. I've been in the business since 1998 full time and got interested in Real Estate back in 1990 when I was in Rochester NY. I've seen brand new agents that were fantastic, educated people. I've also experienced veteran agents that I simply did not understand how they remained in business for that long.
(keep in mind that "back in the day", the agents held quite a few of the cards. Consumers were not able to simply "log-on" and get info like they can today). I've spoken to many agents that just refuse to "give up control". I can see valid concerns on both sides but the market constantly evolves. Newer agents for the most part, are tech savvy and this can give them an edge. They have to use what they can to get established.
Don't get me wrong, It's a tough business. I'm in an area where the median home price is quite high. Sellers (rightly so) want professional agents who know the market to represent them. I've always felt that newer agents can gain a great deal of experience working with buyers and their personal sphere when starting out. It does take time for that repeat business to "kick in" so the first few years can be tough.
On the other side of the coin, I started slow for about the first year and then "went crazy" ever since. You never can tell. Professionalism is the key in my mind.
I do agree with you... I'm always amazed at some of the "happiness" when established agents comment on people quitting the business. Real Estate is one of the only fields that I've even been in where established people in the field seem reluctant to share their experience with newer people in the field. I guess it's the nature of the business.
Currently, I'm involved with a commercial brokerage and we do large development projects (60,000 sq/ft office professional, 53,000 sq/foot office and a 100,000 sq/ft Wellness Center / Medical Facility are 3 of our current commercial projects). I'm very happy to share our experience with our newer agents. Especially the ones making a transition from rersidential to commercial.
I tell our newer agents to get involved. You have to learn the business, talk the talk, walk the walk. Get out and go to those brokers opens (heck, it may be your only lunch for the week!) , talk to agents, attend free classes that your board may offer and dive right in.
You make some very good points in your post. It's a tough business. Newer agents need help and training to get going.
Just my .02