- There are a seemingly overwhelming number of lessons a real estate agent must learn in their first two years in the business. Often, an agent entering into their 2nd full year of the business will have some wins and some learning moments.
- Over the years, we’ve heard the same themes pop up when it comes to an agent having regrets from their first year in the business. Here are a few of these things agents wish they could take back: 1) overwhelmed with shiny objects from the industry in the form of vendors selling the next great “fix”, 2) lack of consistency with lead generation, 3) following a system from Day 1 to keep in touch with people (ex. CRM), 4) not working with a mentor or coach, 5) choosing the wrong environment/brokerage, 6) struggling with mindset issues, and 7) finding the right balance of learning while earning.
- Nearly 90% of real estate agents leave the industry within their first two years in the business. This is a massive amount of turnover! Historically, this issue hasn’t been addressed by the industry through higher barriers to entry or more stringent test requirements; as such, the current trend will likely continue. This is completely ironic since our clients are trusting us with one of the biggest purchases of their lives! It’s time the industry raise entry standards (my humble view), and maybe we won’t see the type of turnover that’s prevalent today.
Regrets of a 1st Year Real Estate Agent Explored!
Perhaps the single most important thing a *new real estate agent can do in their first year is to find a mentor they trust who already has the type of business and personal life the agent desires. There are SO many ways to run a successful real estate business, yet the fundamentals of client service are the same, no matter what.
The trick is to find someone you want to emulate, then don’t let that person shake you loose! So much of success in real estate is simply not reinventing the wheel. What has worked for agent in a particular market who you’d like to pattern your business after, will likely work for you. Does this sound boring? Good…boring makes $! After mastering the boring parts of your business, you can certainly delegate these tasks later do more of the FUN things your business requires.
Considering a career in real estate? If so, please consider calling me for a confidential talk about your goals: 303-709-8778.
Keelan McCamey, Realtor