New Agent?

By
Real Estate Broker/Owner with Henry Realty RB14034017

In this business we have new agents in what I would call a revolving door. They go through school and pass the state test and associate with a broker. After a year most drop out. Why is this? It is my opinion that they get fed up with the money going out of pocket and not getting training or support from the company in which they work. Not long ago I was with a group of Realtors® and someone asked us to raise hands if we had good training when we started in the business. Not one person showed hands. It is my theory that there are two types of Real estate companies. One that wants to make money off of Real estate and the other that wants to make money off of agents. This is done by not giving agents phone time or leads and setting a certain amount of deals to do before being able to get a better split and the notorious monthly fee for transactions regardless if they did them or not. The good companies will let you have phone time which you are able to receive leads and give you leads with no strings attached. All will offer you training but that will really come from other agents that have been in the business longer and are willing to help you. Willing is the key word. We do have some very helpful people that will answer all of your questions and give you the right answers. When working with your clients and you are asked a question and do not know the answer, always tell them you will find and answer and get back to them. Never ever try to answer a question that does not pertain to your area of expertise. I recommend all newer agents get your broker license as soon as you are able. This will help you as you can always hold your own license if you decide to leave your broker.

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Rainmaker
611,427
Jeana Cowie
RE/MAX Real Estate Limited - Paramus, NJ
Broker Associate, ABR, CRS, GRI, SRES

Kevin,

New agents should align themselves with a company that offers support, training & leads. If the company doesn't offer that, they should find a seasoned mentor.

Aug 14, 2010 01:45 AM #1
Ambassador
1,377,572
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

Most new agents started with the mentality that "I love people" or "I love looking at houses". Therefore I should become a Real Estate agent. I dont think that the new agents see themselves as Marketing Agents of themselves. That is the first mistake.

I don't think that phone time will make or break a success. I have never done phone time but I survived many years in real estate. There are many brokerages out there that are virtual offices. There would be no phone time. I think there is also other viable ways of lead generation. Blogging (as we are on here) is one of them.

I think getting a broker's license is a great idea. But if an agent doesnt have enough experience, it may be challenging, difficult with liability issues if the agent, now broker doesnt have enough expertise.

Aug 14, 2010 01:51 AM #2
Rainmaker
802,488
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Hi Kevin, obtaining a Broler License is the most important thing an agent could do.  Nice post!

Aug 14, 2010 02:44 AM #3
Rainmaker
461,954
Brian Rugg
Rugg Realty LLC Sun City Texas 512-818-6700 - Georgetown, TX
Sun City TX Real Estate - Georgetown, TX Real Est

Hello Kevin:

Your post touches on a number of important facets of why some agents are successful and others not.  Loreena  Yeo #2 makes an excellent point that new agents frequently have the wrong model in the mid set of beingpeople person and love looking at houses versus a lead/client  generation mentality.  Being connected to a personal sphere of influence and knowing how to tap into that professionally, will help the success ratio.

New agents should always associate with a broker where they are willing to teach them the business, nurture them with some "help" i.e. training, mentoring, house leads, etc. and have a vested interest in the new agents success.  Nothing breeds success like success.

Aug 14, 2010 02:47 AM #4
Rainmaker
1,906,716
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Simply put - we are in a business where 85-90% of all new agents FAIL in 18 MONTHS !!!!!!!!!!!!!!

Aug 14, 2010 03:00 AM #5
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