So many real estate agents get into the business and quit before it comes time to renew their license. 87% quit within the first five years. Most lack direction. Maybe they never connected with a mentor, or set up a specific program of outreach.
There are a ton of reasons why new agents throw in the towel, but we wanted to find out why the ones who make it stay. We’ve worked with tens of thousands of successful REALTORS® over the years, so we came up with five pieces of advice for new agents. Taken as a whole, these tips come together to create a great foundation.
- Find a Great Broker – Identify all of your short-term career goals, and make sure to interview brokers in your area before you decide on one. The support of the right broker goes a long way to facilitate success.
- Office Hours – A lot of new agents are not used to the lack of structure that comes with being a REALTOR®. To offset this, make sure you are basing your career out of your office, not your house. You have to treat realty like any other full time job.
- Prospect – You can only rely on your friends and family for so many transactions for so long before you will have to generate leads. Start a cold-calling regimen from day one.
- CRM – You have to manage your contacts. Your network is your net worth, and the more organization you apply to your list, the more money you will make.
- Get a Mentor Fast – Find a mentor early, and make sure they are the right fit. If you are working closely with someone you don’t feel like you’re gelling with, be upfront about it and find someone more suited to your career goals.
If you make a concerted effort to follow through in these five areas, then you are guaranteed to make it in the real estate game.