Has Anyone Read this Blog? "Top 7 Chilling Statistics on Being a Real Estate Agent"

The 7/93 % statistic that I use in my seminars for 3 years now.  Before that it  the 90/10 and 80/20 rule.  Over the years that I've been in real estate I've seen a tremendous amount of turnover.  But in the company I am in less.  SInce I am in a 100% company, there is always that fear what if I do not make it?  Paying the cap spurred me on to succeed. Sometimes too many safety nets keep us from achievieng.  It is easier mentally never to leave the nest.

The other reason that I do not see the turnover in my peers is because I into a lot of groups such as Cyber Professionals, ActiveRain, and a few others.  In those groups I do not see a big turnover.  Maybe because they are the core 7%!  In real estate it is survival of the fittest, and these professionals are the survivors.  They know that the key in real estate is smart production, education and sharing real ideas. 

Jim Crawford - http://www.atlantabesthomes.com/

It is a very good artice because it is thought provoling.  Most of us never stop to look at the real numbers or statistics.  As long as we are closing deals, why would I be looking over my shoulders looking at the competition.  The problem in this market is whether anyone wants to admit it we are in a REAL ESTATE PERFECT STORM of sorts!  Historic lows in intrest rates after 9/11 has douled the amout of licensees in our business.  We are now returning to a more normal market - who will survive is not a given.  Some new agents have a lot of the tech skills that are in demand in todays market, older agents have sales skills, and people skills that new agents do not have.  Many new agents cannot close - however they're are great for communication.  So the surviaval lines are not as definable as they once  were. It is going to be a very interesting ride!

Jim Crawford - http://www.atlantabesthomes.com/

I agree!  Part of the reward is measured by personal acheivement.  A major chuck of it is just that! Personally, we've never ran our business by counting the stats for million dollar club, or comparing ourselves to others.  There are plenty of agents in this business that appeared real big.  On the outside many of the agents that made us look like absolutley nothing in this business ....they had billboards, tv ads, radio ads, big teams and big expenses.  They spent their next commission check on assistants, new systems etc.  They also spend like drunken sailors on shore leave!  The interesting thing is that we are still here, and most of them are not.  It is amazing the perspective you get in this industry when you stick around for a decade or two! Success in real estate is measured by what we walk away with from the table.  It is what we net not gross!

As an industry we need to stop patting ourselves on the back for making 10 million a year club while in reality we are walking away with 25K! The public actually thinks we make several million a year, and the reality may be food coupons! Real estate is no different than any other business we have to be accountable for expenses, and have to put aside for those rainy days!  We have to conserve cash and credit to pay TAXES!  I forgot those, but we've been hit with penalties from having one of those years that was slow and then took off!  A lot of my friends in the business were not as lucky.  They never placed extra earnings aside for those unforseen items!  Just because we get big checks at a closing, doesn't mean it is right to get stupid.  And yet, real estate is the most rewarding career I could ever have hoped to have!  I agree fully with you!

Jim Crawford - http://www.atlantabesthomes.com/

Thanks again for your comments!