Three Reasons Why New Real Estate Agents Fail
Real estate poses an incredible opportunity for so many people—yet there are many pitfalls on the road to success.
According to a 2014 NAR report, more than 87% of agents will not make it through their first 5 years.
Why is this?
Here's our take.
- They don’t go all on in. In this business, the top producers are the ones seeing all the results. The success is not shared equally—the top 1-2% are essentially doing all the business while the rest struggle.
- They don’t create structure. There's no telling what you'll see if you pull into any real estate office at 8 am. Some days it will be full and others it will be a ghost town. It's important to treat it like a job—time block your schedule and have the discipline and consistency to execute day in and day out.
- They don’t follow up. This is a common problem in the industry—the follow-up standards are embarrassingly low. Most agents are terrified of the phone, running away from it instead of using it as an excellent tool for prospecting. Those who follow-up will see things go their way in the business.
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