On the surface, being a real estate agent seems like the greatest job ever. Make your own hours. Show people you know houses. The only issue is most of them fail. Helping people with buying and selling real estate is not easy. Let’s go over why real estate agents fail.
While being a successful real estate agent is an incredible job, people underestimate the amount of work that has to be put in to become a successful real estate agent. When you decide to start selling homes, you don’t get paid unless you are able to actually sell the homes. The first couple years are going to be tough when you are building up your client base and learning the business.
Let’s go over some of the reasons why real estate agents fail.
Top 5 Reasons Real Estate Agents Fail
1. They don’t market themselves
Just becoming a real estate agent isn’t enough marketing. A Facebook status about your new job will not get the clients rolling in.
Real estate agents have to to some prospecting. Whether they go with Facebook ads, Chamber of Commerce meetings, happy hour or whatever, prospecting has to be done in order to get the ball rolling.
2. They don’t follow up
In the real estate industry, following up is so important. It’s not very often that someone just walks up to a real estate agent and says, “Let’s buy a home right now!”
This is why it’s important to follow up with clients and not just say you are going to do it. When you are continuously reaching out to your clients and seeing how they are doing, this keeps you in their mind. When they see a house that interests them, they will think of you, their real estate agent.
3. They think money will come quicker than it does
The first couple years as a real estate agent are going to be extremely difficult. After those couple years, when the money starts coming in, things get better. The problem is most real estate agents don’t make it past those two years. Be prepared to put in the work necessary to get past the tough times. Have money set aside to make sure you get through them.
4. They take bad experiences to heart
Becoming a successful salesperson takes time. Becoming a successful real estate agent takes time as well. During the path to success there will be many tough experiences to learn from. These are part of the process. Learn from them, shrug them off and move on.
Sure, that’s easier said than done. But if you get too down with every bad experience you will never make it to the other side.
5. They choose comfort over success
An example of this is cold calling. There is no comfort in cold calling for someone who has never done it. That said, someone willing to cold call has a much better chance at success than someone who is not.
In order to succeed as a real estate agent you are going to have to come out of your comfort zone. Many, many times. If this is not something you are willing to do, then this is going to be a path that is next to impossible for you.
No one said this is going to be easy!
If you are struggling as a real estate agent that recently started, remember that this is very common. Just realize that this is part of the process and if you keep working hard you will get where you want to be.
If you are considering becoming a real estate agent, be aware that is not the easy path to wealth that you may imagined. Be ready to put your nice to the grindstone to get where you want to be.