If becoming a real estate agent is really as easy and as well paying a job as most people believe, then why is it that so many new real estate agents fail to last more than 2 years?While there aren’t any authoritative sources that provide reliable data, from empirical evidence most experienced real estate brokers generally agree that somewhere in the neighborhood of 70% of new real estate agents fail to last more than 1 year and up to 85% of them don’t last 2 years in the real estate brokerage business.
Just a little background:
According to the Association of Real Estate License Law Officials, there are currently (in 2018) about 2 million active real estate licensees in the United States -
As of July 2018, the National Association of REALTORS® (NAR) says it had 1,334,668 members; presumably, about 1 million of them are residential licensees, brokers and sales people -
That leaves about 700,000 other licensees, which we can assume do not sell real estate as their primary job. For example, they may be property managers, residential leasing agents, individual builders and re-developers who only deal with their own properties, whatever.
In this episode of The Ken Jones Real Estate Show, I'll identify the top 5 reasons why, in my opinion based on my 5 decades in the real estate brokerage business, new real estate agents fail within their first 2 years. I'll also provide detailed explanations for each of these reasons.
What are your experiences with this?
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