According to NAR, most real estate agents don’t make it to the fifth year of their career, with the majority of those who drop out leaving in their first and second years. There are many possible reasons for this, but one that I’m seeing right now is a lack of decent training for agents new to the industry.
As we move into a more and more skills-based marketplace, agents need specialized training in order to swim instead of sink. Agents who are able to get their feet under them will build businesses and careers instead of just trying to keep afloat in their “real estate job.” Some small percentage of agents may learn to swim on their own, but many newer agents do themselves a disservice by going it alone instead of seeking out opportunities to learn from those more seasoned.
Find a mentor
Someone in your community has wisdom to pass on to you. Network intelligently and reach out to those with more experience with sincere requests for training, market-specific information, or advice for specific issues you’re facing. Agents can sometimes be proprietary, but someone with good business acumen will recognize the value in developing talent and won’t subscribe to a scarcity mindset—there truly is enough business to go around.
Join a team
Perhaps you’d be better suited to seeking out a team in your market that will help you hone your skills, keep you accountable to your goals and metrics, and provide you with new opportunities that you might otherwise miss going it alone. The right team helps you leverage your time, creates a culture of service and accountability, increases your profitability, and keeps you in the industry longer than you’d stay on your own.
Hire a coach
If you’re having a rough time making enough money to make ends meet, it may sound like dangerous and terrible advice to tell you to go out and spend money on a coach. A good coach should be vetted—do they lead with revenue and produce actionable results for their clients? If it’s time to hire a coach to get you the specialized training you need, you’d better be ready to do some research—not all coaches are created equal. Research your potential coach, interview them, and see if you’ll be a good fit for each other. Above all else, be certain they’ll actually add the value to your business that you’re spending on them.
Don’t be discouraged or worried by the shift we’re seeing in the market—just learn and do better. You can shift right along with it by gaining new skills, keeping yourself agile, and learning to problem-solve on your feet. If you’re not sure exactly where to start or what your next step is, check out workmansuccess.com for helpful tips and free resources, all designed to help you succeed in any market.
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