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Old 03-17-2008, 02:32 PM
 
37 posts, read 124,688 times
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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.
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Old 03-17-2008, 03:49 PM
 
Location: Atlanta
739 posts, read 825,494 times
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I think that's exactly what it is. That and no clear plan for success. Most of the people I see getting into the business have no idea how to run a business - it's more of a hobby to them. ANd when they see how much capital outlay they have to make, the long hours and then see how long it takes to get deals closed, well - that's why the burnout. Most agents just throw some marketing out there, don't get any immediate response, decide marketing doesn't work, and give up.
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Old 03-17-2008, 03:54 PM
 
Location: Columbia, SC
10,907 posts, read 21,874,385 times
Reputation: 10539
There's a difference b/n burnout and dropout. Agents dropout for lots of reasons but primarily running out of money, not getting training, or not knowing how to run a business.

Burnout comes from not taking personal time, overworking, being overly sensitive, or just not being to handle the stress that comes with the job. Yes, for non RE professionals RE is a very stressful career.
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Old 03-17-2008, 04:12 PM
 
Location: Dallas, TX
32 posts, read 46,307 times
Reputation: 11
Arrow Dallas real estate agent opinion

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.
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Old 03-17-2008, 04:12 PM
 
Location: Salem, OR
15,509 posts, read 40,235,609 times
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I agree with Brandon. Agents that I see burnout don't know how to set personal boundaries and end up working constantly. We agents have a lot of "work pockets" over the course of the day and it takes to figure out how to have that not interfere with your life. Agents that don't burnout master this.

Agents dropout because they think this is an easy job. They have an employee mentality and not a business owner mentality.
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Old 03-17-2008, 05:19 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,084,689 times
Reputation: 2661
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.
Imminent starvation. Marvelous motivator to go do something else.

It is a hard business. I am an exceptionally good RE Agent technically. I would likely fail in the business and go back to something more technical. My wife however is only an adequate agent...but she is a great salesman. The combination works wonderfully. Push come to shove though she could suceed by herself and I could not.
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Old 03-17-2008, 06:11 PM
 
Location: Nashville, TN
1,177 posts, read 4,143,966 times
Reputation: 945
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.
One of the "something else" things is that people get into the real estate business because the bar is set so low to get in. They think they are going to make big bucks in a profession that, in most states, only requires that you take a two or three week course and then pass an exam that is fairly simple. Most of these people are not prepared to be Realtors. They don't have sufficient education, knowledge, maturity, money, etc. to survive. This leads to a lot of dropouts, not burnouts, when they find out that they don't have the necessary skills. Over 75% of all newly licensed agents don't last more than two years in this profession.
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Old 03-17-2008, 07:00 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,084,689 times
Reputation: 2661
And the reason this goes on is that RE Brokers make their money off the agents not the clients.

So the managing bodies of the "profession" make their money off the number of salesman...not the quantitiy or quality of sales that take place.

So we churn a lot.
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Old 03-17-2008, 07:52 PM
 
Location: Columbia, SC
10,907 posts, read 21,874,385 times
Reputation: 10539
Quote:
Originally Posted by olecapt View Post
And the reason this goes on is that RE Brokers make their money off the agents not the clients.

So the managing bodies of the "profession" make their money off the number of salesman...not the quantitiy or quality of sales that take place.

So we churn a lot.
Actually my company doesn't charge a desk fee. If an agent doesn't produce, our owner actually loses money on them because the do some marketing for us. Of course the top producers more than make up for the others but we have a lot of good agents from top to bottom for a company our size (365 agents).
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Old 03-17-2008, 08:53 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,084,689 times
Reputation: 2661
Quote:
Originally Posted by Brandon Hoffman View Post
Actually my company doesn't charge a desk fee. If an agent doesn't produce, our owner actually loses money on them because the do some marketing for us. Of course the top producers more than make up for the others but we have a lot of good agents from top to bottom for a company our size (365 agents).
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?
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