How much do Realtors under two years in the business make? According to the latest Profile of Real Estate Companies from the National Association of Realtors
In most areas, that’s less than 3 transactions!
That’s not enough business to motivate and create a great foundation. We need programs to start agents much faster! In contrast, my study of agents under three months in the business showed that the majority expected to make more than $50,000 their first year in the business.
Disparity Causing De-Motivation
My study also showed the majority of new agents expected to make their first sale their first month in the business! We know newer agents don’t make $50,000+ AND they don’t make their first sale the first month in the business (on average). (This study is in my book, What They Don’t Teach You in Pre-License School).
I believe it’s because they don’t know (or accept) the reasons why agents succeed—or not. Here are the reasons I’ve heard (and voiced in that study I did). New agents have success from
- Being with the ‘right’ company
- Gaining promises of leads
- Being told they ‘are exceptional’
- Hearing that ‘others have made that much’
By the way, this latest Realtor study says the Realtor of all years in the business makes about $34,000.
Starting Slow…or Fast?
I once had a manager tell me that, even though her new agent hadn’t made any money (and had been in the business 10 months), the manager still had hope for the agent. Why? The manager stated, “It took me a year to make a sale.” Oh, my gosh! First, that’s not a career. That’s an accident! Almost everyone who gets a real estate license, goes to the office every day, and ‘does real estate’ can have a one happy accident in a year. I don’t believe that’s the business, though, and I don’t believe that’s the business you want.
The Truth about Early Production
What is the one thing that separates early producers from non-producers?
Steady, consistent, lead generation—and lots of it
What new agents need is the truth about productivity: That it is always based on implementing a lead generation plan the first week in the office. It’s not based on the fact you have business cards, have affiliated with a ‘fine company’, or any of the other reasons you may have heard or embraced.
Grab a Business Start-Up Plan and ACT Now
So, get a proven lead generating plan, along with a comprehensive business start-up plan. Get a coach to guide you through the action plans. Do the plan consistently until you have the success habits of the kind of agent you intend to be.
Now, there’s a way to get a step-by-step road map to success: Up and Running in Real Estate, my online training/coaching program to get you a sale and a listing within the 8-week program. And, you’ll create the career success habits to last your entire real estate ‘life’.
Check it out. (And, there’s a coaching component for your manager/trainer/coach, too). Nothing else like it–and it’s about time!