As I mentioned in an earlier post, up to 90% of new real estate agents fail to renew their licenses in the first two years.
My previous post covered lack of training as one reason for this astounding failure rate.
Lack of experience is another reason.
At a glance, the real estate profession appears to be easy.
Take a few simple courses at the local real estate school, pass the state real exam, join ACAR and Intermountain MLS, get some business cards, and presto ~ you’re a Realtor®!
Then, sobering reality sets in because the new agent lacks experience.
It usually takes dozens of transactions for a new agent to become competent.
The experience gained from those transactions teaches a new agent how to deal with things like real estate law, agency representation, client counseling, financing, marketing, required disclosures, home inspections, title insurance, escrow procedures, home warranties, appraisals, and other complex issues.
While the technical aspects are important, the real key to success in real estate lies in understanding clients’ needs, wants, likes, dislikes, and their motivation.
Those people skills can only be learned from experience.
Unfortunately, most new agents don’t last long enough to gain that vital experience.
April 2nd, 2013 Posted in Inside Real Estate | Print This Post
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