Why 87% of Realtors Fail: Key Insights for Success

According to statistics 87% Realtors fail within the first five years. Question is why? On the other hand 13% Realtors succeeded in real estate by far. How and why do they succeed? These are the questions that we need to answer and see what lessons can be learnt from it and how we can apply them in our career in real estate. According to my research those 13% who succeed in real estate belong to either one of the following three categories.

1. Their parents have been in real estate.
2. They took real estate coaching courses earlier in their careers.
3. They learnt tricks of the trade through school of hard knocks.

Obviously, we are only talking about those 13% who finally succeeded in their profession. We are not even talking about those, who after years of struggling financially, emotionally and physically gave up the profession and were forced to switch careers. Let’s put them in a fourth category of those who quit. 

The only problem with third category of Realtors is that their transition from starting their careers to working too hard trying to survive along the way in the face of frustration and financial and physical stress was too great. The question is that, ‘Was it worth all the trouble? What other options did they have?’

A large number of Realtors, who finally manage to attain some respectabbility n their profession, belong to the third category, albeit, after paying a heavy price in terms of their time, money and mental stress, which could have been avoided. 

However, more often than not, their transition to finally succeed in their careers came at a significant cost. They could have easily saved themselves of the undue stress and strain if they also would have taken coaching in real estate earlier on in their careers, which could have jumped started their career; they probably didn’t realize its significance then or couldn’t afford it, because there is a cost associated with any such coaching. 

It is an unfortunate reality that no one has time and the inclination to help fellow Realtors for free, even though they themselves might already learnt all the tricks of the trade and might be doing well in their profession; their attitude can be, ‘what’s in it for me?’ 

It needs to be clearly understood that real estate is a hands-on profession, like most other professions. To practice it successfully one has to acquire the skills and the techniques such as market knowledge, technology, client relationships, following up etc. Most of these skills are not taught by any academy or can be learnt from books. These have to be either learnt through practice or have to be acquired through mentoring, there is no third option. 

Keeping in view all the above factors and based on my own experience I have designed ‘Realtor Business System’. It is a structured Realtor coaching Program designed to empower new and struggling Realtors succeed in their careers without in minimum time and cost and spare them of untold stress and frustration. This will jumpstart their career so that they can hit the ground running.