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Old 03-17-2008, 10:25 PM
 
Location: Montana
2,203 posts, read 9,299,905 times
Reputation: 1130

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Quote:
Originally Posted by 12VMan View Post
I would like to pose a question to the realtors on this board. I've heard about how common it is for people new to the field to burn out quickly, but I've always wondered what, in your opinions, are the common cause for such a high burn out rate? Is it b/c people are lazy, or they expected to come in and sell 2-3 houses per month and aren't doing that, or maybe it's something else?

Thanks in advance.
I think the majority of newbies getting into the real estate business are basically clueless. And I DON'T mean that in a demeaning way. Many are very intelligent, creative, industrious individuals. A few others just see $$$ signs. Both groups, however, are clueless . . . about how much TIME the business takes . . . how much MONEY the business takes . . . how LITTLE you'll make in the first six months, or even the first few years.

No prelicense class remotely equips the new agent for the "real world" of real estate. A combination of prelicense classes and mentoring or continuing ed classes may help the new agent be "technically" equipped to practice real estate and he may actually be a pretty competent agent (Olecapt mentioned that), but there really isn't anything out there that teaches an agent how to make a living selling real estate.

I don't know of any program out there that really helps a new agent get his business off the ground. Most new agents spend a TON of money on classes/mentoring that's supposed to do that, but in reality it's still up to the individual to sink or swim. Some manage to stay afloat long enough to tread water and maybe even accomplish a good enough freestyle to keep them in the pool for the marathon.
(Sorry about the metaphor - or is it a simile - I always get those mixed up. Anyway, I'm just honing my writing skills . . . if this real estate thing doesn't work out, I may decide to write my first novel.)
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Old 03-18-2008, 12:01 AM
 
Location: Columbia, SC
10,916 posts, read 21,890,647 times
Reputation: 10549
Quote:
Originally Posted by olecapt View Post
I looked. It appears your company recruits new agents. Offers training. No where however does it suggest it charges no fees.

If they do that why are they hiding it?
No desk fees, great training, some paid marketing. My local franchise charges only commission splits with no yearly fees other than MLS, NAR, and E&O. If company is paying x for each agent on marketing (enhanced realtor.com, lead router, whatever else) and an agent brings in 0 closings over a year, then the company has lost money on that agent.
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Old 03-18-2008, 01:02 PM
 
Location: Wilmington, NC
261 posts, read 1,213,966 times
Reputation: 340
Default Right to the point!

Quote:
Originally Posted by Dallashomes View Post
MANY FACTORS THAT COME INTO PLAY OFF YOUR QUESTION:

Major factor
a) Once you close a person you are hopeful for referrals for services rendered..... the person is not going to go purchase another home the next year, do a good realtor is always working on business developement... it usually takes from the moment you answer the phone when the person calls from 60 - 120 days to for closing and the agent to be funded for their services rendered.

b) Unseasoned professionals don't know how to say NO.... I say more NO's than yes to go out an show properties for the fact that most people are not qualified to purchase a home. I am not only a Dallas real estate agent, I am also a Texas home mortgage loan officer therefore the investor or family need to be approved prior to showing the propeties other than that I wasted a whole lot of time .

c) Realtor need to develop a team - good people who want to work 24/7/365 therefore real estate is 24 hours a day, as a team can have relief for each other.

THAT IS only to answer some of the factors.

You nailed it with this response. I started in the real estate business in 1990. Honestly, I chose this career path initially because I thought it would allow me flexible part-time hours and I would make a lot of money.

Well, I quickly discovered that I was not going to have part-time hours if I was going to make ANY money. Happily for me, I found two wonderful mentors, seasoned agents, who were delighted to help me realize my potential.

A real estate career can eat your personal life if you allow it. Learning to say "NO" didn't come easily, but once I did learn how to say No when it mattered, my career really took off. Now 18 years later, I work strictly onsite selling new homes for a builder. My husband and I own investment properties. You can pretty much say I live, sleep and breath real estate. It's a career I highly recommend.

Sales is one of the few careers that can afford a person a six figure income without having a four year degree. Its a career that requires continuous education to stay on top of your game, it requires discipline, and sharp people skills. Lucky for me, this career just happened to be a perfect match for my personality and innate abilities. I only wished I hadn't waited until I was 30 to get started!
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