BEING A REAL ESTATE AGENT "The good, bad and ugly" (PART 2) THE BAD!

-

 

BEING A REAL ESTATE AGENT  The good, bad and ugly (PART 2)      THE BAD!

A Realtor, You wake Up Every Morning Unemployed.

Thinking about selling real estate?  It can be very lucrative     or       not.   

In 2021, there were a record number of real estate agents in the United States, according to the National Association of Realtors. More than 156,000 people joined their ranks in 2021 and 2020 combined — nearly 60 percent more than did in the two years prior. 

Studies estimate that 87 percent of real estate agents will fail within the first five years. That is  success rate of just over 1.3 of 10. So, know going in that it will be difficult.

Why do so few make it? There are three primary obstacles to success.

1.  Branding:   It takes time for strangers, friends and family, to know that you sell Real Estate. I've heard said that every person has 2 realtors in their head at any time. Chances are as a new Realtor you are not one of them. It takes time to build a following.

2. Expenses:   Nothing in Real Estate is free. Everything you do incurs cost. No one gives you anything, you pay for everything.  

Desk fees or commission splits to your Broker, signs, riders, sign posts, flyer boxes, lock boxes, continuing education, advertising, lead generation companies, vehicle, gas/ maintenance costs, listing presentations expenses like professional photos, drones, virtual tours, videos, flyers. License fees, MLS fees, LOCAR Fees, NAR fees, Designation Ed fees, City of Longview Business fees, etc, etc.) The list goes on.........

3. Delayed Payment:    A normal Real Estate transaction take 30-45 days to close, so you don't get paid until it closes. So if you sell your first home 21 days after starting, you may not see that pay check for 66 days and all the while your bills keep piling up.

4. Lead Generation:     You have to find buyers and sellers. What system or process do you use to gather these clients? People rarely walk up to new agents and say, "Hey sell my house."  No, Real Estate lead generation is a "grind" and it takes effort (i.e. time spent),  patience and rejection in order to find quality buyers and sellers.

It requires thick skin to be a successful Realtor. Family and friends that you care for will at times use a Realtor that is not you. It will hurt and there is no real way to stop the hurt. You can pause for a moment and shake your head, but that next client it just around the corner. Keep moving and keep believing in yourself, your systems, your ability to grow. Yes the "BAD" of real estate is large and hurtful, but the GOOD is better and it's yours with hard work and a positive approach.

Next week's BLOG is the UGLY.  



Comments

Post a Comment

Popular posts from this blog

How to Find a Quality Realtor

-
Image
Get Pre-approved :  Find and use a local Home Mortgage Agency.  Local, because it will strengthen your offer.  Listing agents like to work with Mortgage professionals they know and have access to.  If your Mortgage Company is out of NY, CA, etc. that's a disadvantage. Local Realtors Matter:   Use a Realtor that lives in Cowlitz County, they know the area,  the people, and they have connections that outsiders are not going to have. Look for Designations: Those funny letters you see on a Realtor’s business card after their name are called designations.  Realtors that take their craft seriously pay money and invest time into improving their skills through education. Always look for Realtors that stay educated. Ask Friends:  Ask friends and family for recommendations.  It’s always a good place to start Interview Multiple Agents :   I love when potential clients interview me against other agents.  I am comfortable connecting with clients...
Read more

"Victory" Gardens - Will you Join me?

-
Image
I am going to plant, fertilize, water, and harvest a few vegetables this year.  Perhaps you should consider joining me. Here is why: During World War II, people's spirits were troubled and life was complicated. Supplies were short and people were worried. The Hoover administration asked families to help America by planting vegetable gardens in their backyards, churchyards, city parks, and playgrounds. These small and essential gardens became known as “Victory Gardens”. Victory Gardens were important because families worked together and they felt the satisfaction of nurturing and watching their vegetables grow. Not only did their gardens sustain them, they also allowed families to share with their neighbors and promote a spirit of giving. Victory Gardens gave Americans the opportunity to focus on something other than the war.    83 years after the first Victory gardens, Life is again difficult, with a pandemic, inflation, high fuel prices, etc, etc. Perhaps ...
Read more

THE CHRISTMAS LIGHTS THAT MATTERED

-
Image
 "REAL RELATIONSHIPS"    My Son came to me yesterday and said "Dad will you help me get the Christmas lights out of the garage?  I want to put up the lights for Mom, she loves to see them at Christmas time".  So I got out the ladder and we located the boxes and brought them down.  Then Rylan said, "Dad thanks for your help, I'll take it from here".  I asked, "Don't you want help?"  "No, I want to do this for Mom as my Christmas gift to her,  I know she will smile when she sees them.  So I walked away and watched through the window as over the next 2 hours he unpacked, untangled and set up the Christmas lights for his dear Mother.  I love this young man and his tender heart.  His Mother loved the lights and smiled brightly but even more she loves her Son that gave the gift of time and caring.  Her heart was full.  Well done Rylan, I have a feeling your gift will be the one that is remembered.
Read more