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87% of Realtors Fail Because of THIS
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Dec 11, 2024
Learn why almost all Realtors fail -- and how to not to be like them. 👍 READY TO PASS YOUR EXAMS? GET 30% OFF! https://bit.ly/3W4dZbB 📝 NOT READY FOR A COURSE? TRY OUR FREE PRACTICE EXAM: https://realestatelicensewizard.com/real-estate-practice-exam/ 🏷️ Tags #realestate #realestateexam #realestatelicense -=-=-=-=- Don’t forget to like and subscribe for more! Want to learn more about the smart way to get your real estate license and start a successful real estate career? Then make sure to visit the Real Estate License Wizard, getting started is easy. Just click the page below: https://realestatelicensewizard.com -=-=-=-=-
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0:00
87% of Realtors fail let that sink in
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for a moment so if you're watching this
0:08
and most probably you're headed for
0:11
disaster but don't panic because for the
0:13
past four years we have been helping
0:15
real estate agents get their start in
0:17
the industry and today I will reveal the
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reasons behind the Staggering statistic
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how you can flip the script and avoid
0:25
them and tips to ensure you don't crash
0:28
and burn are you ready to join the
0:31
successful
0:32
133% well if so then let's dive in
0:36
reason number one interested but not
0:39
invested real estate is not a hobby
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success in the industry requires full
0:45
commitment and let's face it many
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entered the field as a second or third
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career often lured by its glamorous
0:53
portrayal in the media while the Sleek
0:56
suits fancy cars and luxury property
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deals can be part of the story they are
1:01
definitely not the beginning most
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probably you won't see your first
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commission check until your six month in
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the industry but if you want to succeed
1:10
in real estate then do what it takes
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even when it is not
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convenient and please remember to keep
1:18
your vision in
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Focus well success takes time and effort
1:23
reason number two no Role Models the
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second reason why most real estate
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agents fa is because they don't have
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Role Models remember the saying that you
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are the average of The Five People You
1:36
spend the most time with well real
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estate agents usually don't surround
1:41
themselves with other agents they want
1:42
to mirror if you want to average
1:45
250,000 a year over 5 years but don't
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have an agent on your team with that
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kind of track record achieving it will
1:53
be exceptionally challenging this is why
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I always stress interviewing Brokers
1:58
before joining a team
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ask about their achievements especially
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Financial achievements find out the type
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of support they provide to agents and
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how they plan to contribute to your
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overall success at the end of the day it
2:13
is crucial to make sure that you join a
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brokerage flooded with the type of agent
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that you want to emulate and then tear
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them apart I mean not literally but
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study their financial achievements
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character relationships Etc and simply
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try and replicate them reason number
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three they don't join a team third place
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is the lack of support and it ties back
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to not having the right Role Models
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while Independence is really admirable
2:43
but attempting to run solo as a newcomer
2:46
can be detrimental and as we discussed
2:48
in our previous video seven proven
2:50
strategies for success for which I will
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leave a link in the description below
2:55
joining a really established team can
2:58
provide you with invaluable benefits
3:00
such as access to experienced
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professionals knowledge and strategies a
3:06
support system during the challenging
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early stages opportunities to learn
3:10
various aspects of the business
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handson so after you get that license
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don't just join a team to have a place
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to hang your license find a team that
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can help you grow reason number four no
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number goals another reason why many
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real estate agents struggle is because
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they don't set clear and quantifiable
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goals saying that you want to make
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60,000 this year is not really a goal it
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remains a desire until you don't curve a
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path to it and to curve a path to it you
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must understand your numbers for example
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a general rule of thumb in real estate
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is that it takes a new agent 40 to 60
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conversations to close one transaction
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so if we go back to our 60,000 goal we
3:58
need to understand what is the average
4:00
commission you can make from a sale
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according to Zillow the current average
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house price is around
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$362,000 if you hopefully still have a
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working Commission of 2% then you would
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make around
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$7,300 at an 8020 split you take home
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around
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$5,800 that means you have to close at
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least 10 deals a year to hit that goal
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now work backward how many conversions
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do you need in a year let's say
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according to our calculation you need
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around 600 calls then divide this number
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into quarterly calls monthly weekly and
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then daily calls but and I mean this is
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a crucial rule don't miss your daily
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numbers if you miss those daily numbers
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then you won't see any success an extra
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tip always bucker to increase your
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margin of success reason number five no
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stress strategy a well-defined strategy
5:02
is everything and many agents fail
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because they don't have a clear and
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comprehensive plan for their business
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just imagine getting your license and
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jumping into the industry without a plan
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of success but here's what a
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comprehensive strategy should
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Encompass number one market analysis you
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have to conduct thorough research on
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your local market understand property
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values neighborhood Trends and economic
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factors influencing buying and selling
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patterns pick a neighborhood and Pitch
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your tent there then do your target
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market identification Define your ideal
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client profile are you focusing on
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firsttime home buyers luxury Properties
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or commercial real estate streamlining
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will make it easier to provide better
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value what is your unique value
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proposition determine what sets you
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apart from other agent this could be
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specialized knowledge exceptional
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customer service or Innovative marketing
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techniques if you don't know what your
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cutting G should be then I'd recommend
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starting with customer experience that's
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always the safest bet simply put spend
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time researching the industry know what
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is happening in your community and why
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do your lead generation make your calls
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have a schedule and stick to it reason
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number six don't generate enough
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lead can I State something annoyingly
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obvious lead generation is the lifeblood
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of your business and many agents fail
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because they don't have a systematic
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approach to attracting potential clients
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to develop an effective lead generation
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strategy you need to know yourself your
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lead generation effort should be always
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tailored to your strengths and your
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personality don't try to force a tactic
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on you that work for other agents else
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you will always have a tough day at the
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office choose methods that align with
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your personality and skills if you excel
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at face to- face interactions and
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prioritize networking or even community
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events like pot loocks you could even
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create your own events and invite people
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from your community focus on the core
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four number one your database look for
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leads in your sphere of influence
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contact those people on your mailing
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list who are on the market for a new
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home or better yet who can refer people
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to you number two openhouse
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make your open houses social events use
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them to network and get new contacts
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three geof forming focus on one location
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and increase both your visibility and
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influence in that territory you may need
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to do some door knocking join Community
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organizations or crash a few community
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events just kidding make sure you have
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an invite and number four dominate
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social media with over 5 billion users
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social media platforms are no longer
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just communication tools they are
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marketing platforms use your accounts to
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advertise your listings build trust and
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provide value but that doesn't mean your
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content should be extravagant post a
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simple workout picture to show your
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morning routine or a quick behind thes
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scenes video of your lead generation
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efforts to cement your Authority and
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remember be consistent lead generation
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shouldn't be a once a week activity it
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should be a daily practice so set aside
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dedicated time each day for lead
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generation tasks reason number seven no
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sales game Real Estate is fundamentally
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a sales profession but not everyone who
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will enter the industry having measur
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the art of selling eyes to an es schemo
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but if you want to be part of the
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successful 13% then you have to inhance
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your sales abilities and that starts
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with master ing the art of listening
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effective selling starts with
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understanding your clients needs and
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desires practice active listening
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techniques develop your negotiation
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skills and practice these skills
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regularly learn to handle objections
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anticipate common objections and prepare
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thoughtful
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responses understand buyer psychology
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study the emotional and logical factors
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that influence buying decisions in real
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estate practice your pitch regularly
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refine and practice your listing
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presentation and buyer
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consultation roleplay scenarios practice
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different sales situations with
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colleagues or mentors this builds
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confidence and helps you prepare for
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Vari scenarios and develop emotional
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intelligence understanding and managing
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your own emotions as well as those of
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your clients is crucial in sales
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reason number eight no followups
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effective follow-up is often the
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difference between a successful real
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estate agent and one who struggles to
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build a sustainable business many leads
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and potential deals are simply lost
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because of poor followups following up
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with a potential once twice or even
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three times is not enough you have to
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keep at it and the best way to do this
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is to have a structured approach when
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creating a follow-up system system
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remember to personalize tailor each
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followup to the individual client or
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lead reference previous conversations or
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specific properties they were interested
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in and try by all means to avoid generic
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messages an example of a message you
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could craft to follow up on a former
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client could read something like this
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hey Sam I was reviewing some recent
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Market data and came across some
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exciting information about your property
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can you believe that since you purchased
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your home 5 years ago its estimated
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Equity has increased by
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50,000 if you'd like I'd be happy to
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provide a more detailed analysis of how
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this appreciation compares to similar
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properties in the area or discuss what
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this might mean for your overall real
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estate portfolio feel free to reach out
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anytime if you have any questions about
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the current real estate market but for a
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New Prospect you could send a text like
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Hey sir
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I've just come across a new listing that
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perfectly matches your criteria it's not
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on the market yet but I can arrange a
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private showing this week interested in
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getting an early look before it goes
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public let me know if you'd like to
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schedule a viewing or need some more
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details to keep your leads warm and
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engaged develop a long-term follow-up
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schedule align with their needs your
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schedule could look something like this
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day One initial response day three fall
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follow-up Coral email day seven checking
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with relevant Market info day 14 Another
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Touch Point day 30 monthly market update
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but don't forget the golden rule of
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marketing communication do not spam if a
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lead says no thank you then it is no
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thank you thirdly try to provide value
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in every interaction don't just ask if
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they are ready to buy or sell offer
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something of value in every followup
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this could be Market updates relevant to
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their needs new listings that match
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their criteria and information about
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local developments by measuring the art
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of followup you will not only close more
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deals but you will also build a loyal
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client base who will provide referrals
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and repeat business for years to come
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there you have it eight critical reasons
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why 87% of Realtors fail and most
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importantly how to avoid being part of
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them remember testing real estate isn't
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about luck or Charm it's about
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commitment strategy and consistent
13:05
action please like subscribe and hit the
13:08
notification Bell interested in more
13:10
real estate success tips then check out
13:13
this video and now go out there and
13:15
dominate your Market
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