Most of our readers are very interested in the real estate market in Edmonton, and some are so interested they even consider a career in real estate. What many people don't realize is that we are always looking for good people to work with us.
A lot of people contact us about joining our little company through www.jointeamjohnston.com, and most people have the same questions about working in the real estate industry. So, we've decided to do a series of articles here on the blog about real estate careers, and why the majority of new real estate agents are out of the business within two years.
Why do most new agents fail?
- Lack of planning
- Lack of committment
- Lack of resources
- Selecting the wrong brokerage
- Lack of business savvy.
Today we will discuss the lack of planning that is common among new real estate associates (the other issues will be addressed in future articles).
Most people who have become licensed in real estate have no clue what is actually required to be successful in real estate. They get licensed with a minimum amount of training and then off they go "helping" buyers and sellers. They hold the same license as I do but I can tell you from painful experience they usually have a long way to go before they really start to understand that real estate is more than looking at homes.
The first common mistake among new associates is choosing a brokerage and starting training after getting their license. If they have interviewed at different brokerages, they have probably been told to expect not to make a sale for the first 6 months. This is because the average new associate actually doesn't make a sale for the first 6 months. Why? Lack of planning!
Another reason new associates have a slow start is that the brokerage they choose has a lack of training and business development support, and they condition their associates to accept lower results right from the get go.
I’ve always believed you have to be prepared to make a sale the moment you are licensed (many of our associates do), but you also have to be prepared to survive until you do.
So… plan ahead! Meet with brokerages before you take the course. Create your business plan before you take the course (your broker can help you with this). Start training and create your marketing plan while you're in the course. If you get all this done ahead of time, then the day you are licensed you are ready to start making a living. Otherwise, you'll end up like most other new licencees without a sale for 6 months.
We start working with our new hires while they're still in the course – this is very rare amongst real estate companies. We take them on appointments and mentor them before they are licensed, we help them study for the exams and answer their questions, we train them on the technology they will be using, we get their web sites set up and marketing pieces ready to go… all while they are still in the course. That's why all of our new agents have made at least one sale in their first month and are all still in the business.
If you're interested in a career in real estate in Edmonton check out www.jointeamjohnston.com for more information.
