Why Real Estate Agents Fail in Their First Year
As the owner for a real estate brokerage in Alexandria, La, I get contacts every week from individuals who seek to get their real estate license. Rarely do these talks end with people signing up for the course. Why? Because at Realty Executives Bayou Properties we tell folks the truth.
A career in real estate is tougher than people think. Here is what I have observed newbies struggle with...
1) Unrealistic job preview-- People watch HGTV and think wow, I could do that. Unlock a couple of doors, write one contract, then collect a 10k check. Life if grand! New licenses are shocked to discover real estate is a SALES game, not a tour guide.
2) A lack of initial training-- The license course covers the contracts, the broker teaches the mechanics, but where do clients come from? Does the broker give them to me? Some newbies are even forced to COMPETE with their broker. Good luck with that.
3) Spending before earning-- The easiest group to sell to is newbie real estate agents. Calendar magnets, fancy pens, online buyer leads, etc... I've witness agents spend hundreds of dollars before closing one deal. Debt is a quick way out of this business.
4) A Part time Mindset--Most agents, myself included, started out part time. The key is having coverage when you are not available, along with a plan to go full time. Telling clients you are available after 5pm and some Saturdays only is a quick way to go broke.
5) Income roller coaster-- This happens when an agent finds a buyer or seller, then focuses his/her attention on helping that client. Guess what happens when that deal closes? Hep, back to zero. Hence the roll coaster effect.
The path to real estate success is bumpy and rarely linear. Agents that make it prospect for new business on a regular basis, and constantly seek to improve their craft. Interested in a career in real estate? Call Doug Rogers (318) 613-1994 today!