Question Details

Jay Ramirez, Real Estate Pro in 93021

Can you let me know why most Agents Fail in Real Estate?

Asked by Jay Ramirez, 93021 Thu May 8, 2008

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Many Real Estate Agents don't treat it as a full time job. People tend to think it is easy money or a side job it is not either of those. Definitely a full time job and definitely not easy.
0 votes Thank Flag Link Thu May 8, 2008
I find the number one reason for failure in this business is lack of discipline. With any business, (and as a Realtor you ARE a business owner) it takes tremendous discipline and hardwork. Most people do not exhibit these qualities. That is why 95% of Americans are employees. People think that being a Realtor is easy. It's not. At least for the first 5 years or so, you're going to really have to work hard. Just like any business you would start up. Then, once you've established yourself and the business is moving along nicely you can hire people to take some of the load off.

Real estate is not the only business that has a high turnover rate. Stock brokers, insurance salesman, any position that is based primarily on commission or incentive based salary has high turnover. But for those who do succeed the rewards are fantastic.
0 votes Thank Flag Link Thu May 8, 2008
While there are some exceptions here and there, for the most part it is unrealistic to expect instant success in the field of real estate sales. That's why anyone who embarks on a real estate career really should have a six-month cash reserve to cover their living and start-up expenses while they're building their business. Of course, there are few people - especially in an economy such as we're in right now - who have such a cushion of cash just sitting there! I believe that the downfall of many agents who don't make it in this business is that when they don't see results quickly, they take jobs to make money and start 'doing real estate part-time'. Once that happens, their real estate career is pretty well over because they are no longer focused on what they had set out to do - to build a career in real estate!
0 votes Thank Flag Link Thu May 8, 2008
In my opinion most agents fail because it becomes exhausting trying to list a property, educate people, spend money on dues, advertising, gas, phone calls and the most important not following up on leads. I refuse to give up and I feel every agent should continue a positive attitude. Whatever is going to happen is going to happen. We have to continue to educate people and let them know that as individuals we have the right and the obligation to ourselves to make our own decisions that will benefit us as a whole.
0 votes Thank Flag Link Thu May 8, 2008
I've been in Real Estate for about six months now. I have made no money YET. but have spent thousands of dollars advertising properties, paying for dues, business cards, virtual tours, signs, open house signs, fliers, office supplies, open house supplies, ie.balloons, boards for other listings, business card holders, ...well you get it. The point is that most people don't get how much you have to pour into this business just to get going. I didn't even mention the price of gas yet. A lot of people just can't keep going with no income, it's very demanding and if you don't just love what you're doing could be very frustrating. I lucked out and have a lot of listings and am closing a few deals this month. But, I worked HARD for it.
0 votes Thank Flag Link Thu May 8, 2008
Mark is right on the bullseye. Get rich quick schemes damage many industries, but the nature of ours is that shelter IS a necessary expense. Success in this business depends on your level of stability, maturity, responsibility & diligence. I am a recent transplant to this industry (3 years) and have literally watched agents drop like flies. People remaining may have tapped into savings & retirement monies & might be running their own credit into the ground, but, as far as I know, there is no more land than that which is already created. In the long run, the real professionals will first help others, then themselves & all can be well again!
0 votes Thank Flag Link Thu May 8, 2008
Real estate is NOT a quick way to get rich!! If you want to last in this business, you have to work at it!!
Many people get into real estate thinking that thay will make a lot of money without having to work for it
It is a lot of work and you have to be a self starter!!! There is no one telling hyou what to do or when to do it.
0 votes Thank Flag Link Thu May 8, 2008
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