Ep. 389 #REL: Industry Shakeup on the Horizon (with Ed Stulak)

When Expectations Aren’t Met

Minimizing The Risk of Failing in the Real Estate Industry

Who should listen: Those who want to keep their thumb on the pulse of the real estate industry and learn from top agents how to adapt and succeed.

Key idea: Those who became agents during the boom are going to leave the industry by the end of the year because they had incorrect expectations and didn’t understand what it takes to succeed in the business.

Ed Stulak is a successful real estate agent and a master when it come to social media marketing. A part of the Real Estate Leaders series on Stay Paid, we asked Ed to share his opinions on a number of topics related to the industry, including the direction the real estate market is headed, how agents should be adapting to its changes, and what causes so many agents to fail so quickly.

About changes to the industry: Those who became agents during the explosion in the market will soon be leaving—probably by the end of 2022. Listen to Ed explain who he believes will survive and who won’t.

About adapting to changes in the industry: Perhaps not surprising given his own success using social media, Ed argues that despite our being entrenched in a virtual world, too many agents still aren’t using this channel to its full potential. As he notes, “just listed” and “just sold” announcements aren’t enough to help agents create a personal brand and attract new clients. Find out what else Ed suggests agents should do.

About why agents fail: Too many people embark on a career in real estate without having the proper expectations. Ed laments that there is no legitimate schooling that will take an agent from licensing and fingerprinting to making a deal. He also discusses the lack of proper onboarding of new agents. During his interview, you can discover what he’s doing for the 10 agents on his team who have less than a year’s experience.

About finding the right team: Ed does encourage new agents to join a team, but not just any team. He wants agents to interview agencies as much as they may interview them. Aside from asking the usual questions about commission splits and the like, Ed suggests other key questions that agents should be asking.

As always, you’ll want to listen to the complete episode to fully realize the value in what Ed says. In addition to the above topics, he also shares what he believes is responsible for his success and wants others to learn.

Please enjoy this episode and leave us a 5-star review on Apple Podcasts.

Connect | Resources

Connect with Ed on Instagram and all social media: @edstulak

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