BrokerageIndustry News

Real estate agents learn profitability ropes

How to succeed in real estate (part 1)

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

(Part 1 of a four-part series. See Parts 2, 3 and 4.) The National Association of Realtors has just reached the million-member mark. Only 10 percent-20 percent will be in business five years from now. Have you ever wondered why? Perhaps you have been following the trials and tribulations of the "Rookie Realtor." How can this person try so hard and still not succeed? The editorial responses blame the lack of success on inadequate training, inability to connect with customers, or some sort of personality flaw that makes the Rookie unsuitable to be in the business. The Rookie is certainly not alone. What factors allow a small proportion to succeed while hundreds of thousands fail? Many agents enter the business because they like "looking at houses" or "would like to make some additional income." Most rookies have never been told the truth about a career in real estate, i.e., real estate is a business requiring capital investment, professional management, on-going business developme...