Experienced agents might sell 15 to 36 homes annually and have very little time to do much else. If this is you, you might feel guilty, as you are not available for other activities. Maybe you are glued to the phone most of the times and even sneak in a negotiation while you are supposed to be watching your kid's soccer game (I have been there too).
Have you tried forming a team and realized that building a team takes a different skill than sales? You must learn how to hire, lead, train, and motivate. A few skilled agents can sell 100+ homes with the help of a team.
Right now, you might be riding the roller coaster of sales. One month you're up and the next you're down. When you think that you have it all figured out, you find yourself rushing to the bottom of the hill. You hear a big, loud, "BOOM!" as you slam into the ground.
You get up, dust yourself off, and ask yourself, "Now what?"
You could ask your broker for help. He or she may or may not be able to give you the right plan to lead you to a predictable future. Their advice might be sketchy. You could attend a seminar and reach deep into your pocket to pay for the education. But that will take time and money, and they very likely will try up-selling you on another program that you cannot afford.
There are a million and one things to do when it comes to real estate sales, and sometimes everything outside of your job description can get in your way of creating results and a predictable stream of adequate income. You might not have the clarity to solve these problems because you're busy paying your bills and trying to do everything yourself. If this problem goes unsolved, you might have no choice but to go back to a nine-to-five job in another industry or continue the pattern of receiving inconsistent, sporadic compensation. You probably seek a level of convenience and simplicity more than ever and secretly pray for a simpler and more comfortable life.
Why do so many agents fail?
Sometimes people get into the business for the wrong reasons.
They perceived easy money is to be made – and lots of it. The average real estate agent earns about $40,000 a year, and real estate sales is one of the hardest (not Alaskan crab boat fisherman hard, but emotionally hard) professions in the world.
Selling real estate is not for everybody; in fact, it is not for most.
Another reason so many agents fail is they do not work hard enough. Perhaps they watched one too many HGTV shows that glamorized the industry. They do not understand that they are operating a business, and just like any business, it takes considerable effort to succeed.
Many agents work real estate part-time. Mostly, this is a bad idea because it takes an extraordinary effort to learn the market and techniques needed for success. If those people who sell real estate full-time probably won't make it, what do you think the odds are that you will succeed as a part-time agent? There are a few exceptions to this rule.
Most do not have their goals defined or a plan of action. And as Hall of Fame baseball catcher, Yogi Berra, said, "If you don't know where you are going, you might wind up someplace else."
Many real estate agents are not qualified to the level that they ought to be. No significant educational options are available that are designed to raise the standard for real estate agents.
The lack of agent know-how is a danger that, if not fixed, will be damaging to both the real estate industry and to the home buyers and sellers who rely on guidance from those agents.
The barriers to entry to becoming a real estate sales agent are low.
As a result of the vast gap of knowledge, skillset, and competency needed to succeed, and the number of people who lack the requirements to be successful and pass over the low entrance barriers, many will not triumph.
That's because they run out of money, get too distracted, or don't have the guidance or mentorship they need to succeed. If you are new to real estate sales, the odds are you will fail.
In real estate school, they seldom (unless you were a student of mine) tell you that after you graduate, you will be starting a lead generation business specializing in real estate sales.
Suppose you don't get a steady pipeline of sellers or buyers, and the cash runs out, causing an entire series of issues. (Yep, I have been there as well.)
You don't want that to happen. That is bad. You need to develop the right plan now, and you don't have time for anything else. You have discovered this book, which will guide you to tackle these issues and lead you on your way to reliable closings month after month while meeting your own and your client's goals.