Find Your WOW

By
Real Estate Agent with Long Realty - Dove Mountain, Marana AZ BR564219000
https://activerain.com/droplet/5fLq

Every so often I run across statistics that make me say WOW outloud. The most recent, and I can’t remember the source (sorry) said that in the first few years of a Real Estate career, 80% fail.

WOW. 80% fail.

Balloons.  WOW!

I’ve heard different statistics for different time frames but they all point to the same thing...if you’ve been around in Real Estate for more than a few years – WOW you’re doing something right!

I started in 2005 and homes were selling in what seemed like seconds – I was terrified. Multiple offers, cash deals – it was all such an overwhelming WOW to me that I just focused on continuing education and didn’t make my first sale for 6 months or so. I was a part-timer, that may have had something to do with it, but I definitely started slow.


As I progressed, I found I’d take the deals no one else wanted. Anything. There was a gentleman in my office that formed up a group based on regional addresses in the hopes that we’d send each other referrals. My favorite story from that time frame is the $29K buyer opportunity he called me about. (He actually purchased at $32K home – WOW!)

Butterfly.  Wow!

Tomorrow, I celebrate my 24th transaction that has stemmed from that initial meeting. This one is with that buyer’s son that just relocated from Phoenix. I’ve never added up the actual income from those closings, but I can tell you – there weren’t ANY more transactions in that initial price range.

WOW.

So, back to those numbers. I love stats, I don’t know why because I’m not a math person – but I do love cause and effect.

I looked up agent ID numbers today, just for fun – to see how close those stats came to be personally. I took a range of 50 ID numbers up or down from my own. Only 78% of those agents are still in practice and licensed today. One of them is my designated broker from Long Realty – John Mijac. WOW

I run a little class in my office about Building Your Business a few times a month for those that care to participate. I explain that it's almost always about the basics - have a plan, follow the routine, be organized, follow up, etc. It's interesting to look at a chunk of 50 numbers who were once real estate agents to see what happens after 13 years.

Wow!  Blossom in the rocks

22% still on the job. I believe it's a choice. Just starting out in real estate? Do the work. There's no magic formula. Do you. Find your WOW moments. Be as successful as you want to be. Or...be part of the statistics of what once was.

Posted by

If I can assist you in your home buying or selling in Marana, Tucson, Oro Valley, or Vail, please don't hesitate to call me!  Email at swdeserthomes@aol.com

Cara Marcelle Mancuso, Long Realty,

520-909-2988   

Regarding the material posted in my blog postings, these are my personal opinions and not those of Long Realty Company. 

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Rainmaker
1,054,816
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I started in 1998 and have seen many fall away. So many start but the majority simply don't know what it takes. 

Oct 16, 2018 11:25 AM #2
Rainmaker
150,489
John Henry
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

I think the 80% fail statistic is shocking.  But I believe many are not completely dedicated and think it is an easy way to make a living.  Nothing is easy.  Even if you have a great product or service.  It takes constant push and you can never let up on it.  Keep doing SOMETHING that moves you in the right direction.  And if you have to change gears, DO IT if what you are doing now has not shown positive results.

Oct 16, 2018 02:03 PM #3
Ambassador
3,748,250
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Cara- love your post and your WOW moment. I can remember in 2008 meeting a new agent. I told her that she was lucky because she was starting in a bad market and could learn how to really work as an agent starting with the basics. All of her friends thought she was crazy to get into it in such a bad market. 

Oct 16, 2018 06:20 PM #5
Rainmaker
994,345
Corinne Guest
Corinne Guest, Realtor | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Ths really is not anything new. It's almost a standard number across businesses. Some make it longer but fail. Some go forever and then fail - Sears. The market can have a big effect on who makes it and who does not, as does need for income. As I said, same as any other new business. Not sure why you are that shocked. Rule of 80/20, which is now closer to 90/10. So of all the 20% that make it, 10% of them will do 90% of the business. Of course none of us believed it when we started and 20% of us are still here. Yeah for the 20%.

Oct 17, 2018 05:27 AM #6
Rainmaker
1,388,293
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I'm not surprised about the 80% failure rate. I think the actual job of real estate is a lot different than new agents believe it will be. They just don't know how much time and effort and thought goes into prospecting and getting to the closing table. I agree we need to find our WOW moments.

Oct 17, 2018 05:34 AM #7
Rainmaker
782,179
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

We have a few long time investors and you are right, it is great to look back and marvel at just how far your relationship has come.  Not to mention how many deals have transpired in the intervening years.  

Oct 17, 2018 01:06 PM #8
Rainmaker
452,172
Michael Eisenberg
eXp Realty - Bellingham, WA
Bellingham Real Estate Guy

I started in 2000, WOW, getting ready to slow down. There are many difernt ways to attract clients. Try some and find what works. for you and you like.

 

Oct 17, 2018 02:37 PM #9
Rainmaker
2,414,565
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have always enjoyed this woman

Oct 17, 2018 04:45 PM #10
Rainmaker
964,051
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

It's very important to make this your business and own it. Know your worth and speak the stats so that when you meet anyone, stats are readily available to make us look good and know the market.

Oct 17, 2018 08:48 PM #11
Rainmaker
2,725,794
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Finding your radar to find your wow is pretty essential to all of my stuff! Love and light! Great stuff!

Oct 17, 2018 10:20 PM #12
Rainmaker
1,156,300
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

I make sure to tell those thinking of getting into real estate how hard it is. It is not for everyone that's for sure.

Oct 18, 2018 01:01 PM #13
Rainmaker
2,087,430
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Wow is right. Those are unbelievable stats. Very interesting. Congrats on being one of the true professionals!

Oct 19, 2018 04:31 PM #14
Rainmaker
2,725,794
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I wanted to see what you more of you had to say on this topic. it’s very kind of like following your bliss, as the saying goes. :)

Oct 19, 2018 11:42 PM #15
Rainmaker
2,725,794
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Very good stats to back up all the factors here. In the very heart of it here. I totally see it as more encompassing. Sharon Tara

Oct 19, 2018 11:44 PM #16
Ambassador
1,791,259
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Your course sounds like a wonderful opportunity for new agents - and old agents who forget the basics. I too love your WOW story. 

Oct 20, 2018 08:26 AM #17
Rainmaker
1,515,456
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Well stated, Cara. I was in a class recently where the instructor stated that 89% of first year agents fail. I have no idea where he acquired that number, but when I think of the people I know who acquired a license in the past 10 years, there are few still selling. 

Oct 20, 2018 04:20 PM #18
Rainmaker
2,926,472
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is believable. Many start with out a plan, no savings and when they choose a broker, there is no support to help them succeed. I see so many new agents thrown into the market without any supervision. There is a formula for success, but too many rush with  formulating that plan

Oct 21, 2018 05:24 AM #20
Rainmaker
652,658
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

In my county, about half of all real estate agents will have a transaction in a year. In other words. they will actually lose money (after license fees and other business expenses.)

Real estate is work. It's a business that rewards those who actually engage. I see that your success came from grit and determination. Both of these qualities are exactly what our potential clients are looking for.

Oct 22, 2018 08:50 AM #21
Rainmaker
194,570
Ben DeHaven
Haven Realty & Investments - Winter Haven, FL
Proudly serving Winter Haven & Lakeland, Florida

Wow is right! It looks easy until you have to do it! Keep on keeping on.

Oct 22, 2018 09:55 AM #22
Anonymous
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Oct 24, 2018 02:02 AM #23
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Cara Marcelle Mancuso

Call a Marana neighbor, I'm THERE! LONG REALTY
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