Being a real estate agent can be very rewarding. But it’s not an easy job to get good at. Many of those real estate agents fail. Here’s a shocking statistic for you. 85-90% of agents end up failing…Thats crazy right?! Let’s talk about some of the reasons why those real estate agents fail, and how you can avoid those things.
In It To Win It?
Lots of people get the misconception that all real estate agents make lots of money and that they make it really quick. If you are in it to make lots of money, and really fast… you are going to struggle. The average real estate agent makes around $40,000 per year. So if you are wanting to make double or triple or quadruple you are going to have to hustle and work hard. but it won’t come easy and it won’t come really fast. So… if you are wanting to make money, you are going to have to work!
Putting In The Work!
Real estate agents that are successful don’t work regular hours. They put in the work and will be willing to work all hours of the day, every day. Many fail because they think they can just work Monday – Friday, 8 AM – 5 PM and then go hangout on the weekends. That’s a quick downhill for your real estate career. Agents that are a successful are grinding everyday, reaching out to new people, investing money in lead generation, following up, making connections, and being willing to show a home on any day at any time. it can be very stressful at times. but the reward can be great. and it can be fun if you do it right.
You have to pay to play. its just the name of the game. If you want your real estate business to grow and be rewarding you are going to have to spend money on your business. Whether its on lead generation, promoting yourself, etc. Investing in yourself is great way to get to the top. HOWEVER many agents end up not saving enough to make their car payments, loan payments, groceries, etc.
Just be careful and watch your balance. Make sure you have enough for your necessities. It may sound easy, but you’d be surprised how easy it is to keep spending when you see your followers go up etc.
Goal setting is a biggie. Most agents will fail because they don’t set goals and action plans. Successful business owners and just successful people in general are always setting goals, setting new points to reach. Setting goals for your number of sales is obviously important. consider setting other goals as well such as how many calls you make a day for prospecting, setting daily action items etc. as these will effect your sales goal
You can ask most full time agents, and they will tell you that knowing how to generate leads is the key. and they are absolutely right. Many agents that fail rely on referrals, and they don’t know how to get leads any other way. Like I said before. You have to pay to play. The return on your investment can be phenomenal. Would you pay $500 to get $3000-$6000 a month? of course you would! and guess where you can find almost everyone in your city…. Facebook. Running the right ad can be a huge for your real estate career! If you are interested in getting 30-60 leads a month Click Here
There are a lot of reasons why agents can fail. but these points are some of the major points. I hope it helps and good luck!