There is a high drop out rate for real estate agents in their first year (70% or more) and if your agent has made it past the second year in real estate, they are probably going to stay. The first two years are grueling and quite often "newbies" think this business is a quick and easy way to "make a buck". Afterall, anyone can sell a house, right??????!!!!!!!!!!!
These newcomers to the business don't realize how hard it is to learn the ropes AFTER they've finished school; how much work it takes to complete ONE transaction; and how hard it is to market a home or find buyer clients. Afterall, if you "build it, they will come"! Ha, ha! The HGTV shows make REALTORS look like tour guides, or worse yet, like real dorks who are unnecessary to a transaction! I'm not sure I would choose any one of the agents portrayed on TV. All they seem to be good for is opening the doors! The same programs make selling a house look like a piece of cake. They don't show the hours the agent spends behind the scenes building strategy for how to market a home for sale, nor do they show how many times the mediocre house is rejected by potential buyers. They don't show the agent and buyer clients discussing what price to pay, nor do they show what happens when the offer is rejected. They also don't talk about the hundreds and sometimes thousands of dollars spent by the agent on marketing a house. None of this income is reimbursed, and IF the listing doesn't sell, the agent has lost his/her own funds in that marketing. At $50-$100 per ad, $35 minimum per month for virtual tours, $35-$100 per sign, $25 to install the sign, $39 for postage to mail only 100 postcards (plus the cost of the cards), a computer, a digital camera, a tape measure, a CAR (!!!), etc., the material loss for an agent whose listing does not sell is substantial (Remember again real estate is local and so are these prices.). It's no wonder that green agents quit before they sell even one house. If they weren't forewarned about how hard REALTORS work, or didn't believe the warnings, it'd be easy to get discouraged before the first commission is earned.
If your agent has made it past 5 years, you have a SEASONED and tenacious professional on your side. Chances are they are realistic and will do whatever it takes to get the job done!
February 20, 2006 - Ain't That the Truth
There's so much more to this job than opening doors for buyers and signing up sellers to listings. Maybe we should be more vocal about what we actually do and demonstrate our real value to the consumer. Nicely done.
Posted by: Greg DiSisto | December 22, 2006 at 04:36 PM