I know of many agents who continue to earn seven figures in total commission income (GCI) annually after only a few years in business. Your secret? They avoided the common mistakes that cause many new agents to burn out and quit. To help you avoid some common mistakes, we compiled this list of the seven most common reasons real estate agents fail.
Best Real Estate Agents are survived and how it make Possible
Man with calculator with laptop, budget, and loan paper in the office. There are few things more terrifying in life than seeing his bank account fall every month, especially if he works full time. If he wants to be a successful realtor, he must learn to deal with that fear quickly.
Even the best working brokers with decades of experience have bad months where they don’t close deals and earn zero dollars. For new agents, the lack of stable income in their early years can be terrifying very quickly. This causes many to fail and many more to spend the money they budget on marketing and lead generation the wrong way.
How to set Real Estate Marketing Plan and how it works
To avoid this mistake, plan your lead generation and marketing budgets and stick to them. It’s human nature to throw away good money after bad when you’re not getting the results you want, but you need to stay within your budget if you want to be successful.
Creating a viable marketing plan is a great first step in budget planning. You can learn how to build one here: The Real Estate Marketing Plan Template Every Agent Needs for 2021.
The second biggest reason real estate agents fail is that they don’t tailor their lead generation approach to your personality. Instead, they think that stepping out of their comfort zone every day is a realistic strategy for success. While stepping out of your comfort zone is important to real estate success, doing it every day for years is a recipe for burnout and frustration.
How to build a long term real estate career
In its 27 years as a leading employment agent, homeowner, and real estate broker, Company Hunters Properties has helped hundreds of struggling agents rediscover their passion for real estate and build long, profitable careers.
Its process is very simple. First, you take your clients through Myers-Briggs Personality Test Training, then you help them plan a lead generation strategy tailored to their personality. He then developed a mission, vision, and values statement for them to help them discover (or rediscover) their passion for real estate and pursue more than just money.