BrokerageIndustry News

Secrets of rookie Realtor success

Part 1: New study reveals traits of winning newbies

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

(This is Part 1 of a three-part series. See Part 2 and Part 3.) Is personality, behavioral style, or training the key to helping new agents succeed? While many people offer new agent training, the number of new agents exiting the business without ever making a sale is disheartening. A new study uncovers what really matters most when it comes to hiring and training new agents. With 25,000 new agents entering the real estate industry every month, the question for both agents and brokers alike is, "What does it take for rookie real estate agents to succeed during their first year in real estate?" With the market slowing in many areas, it seems safe to predict that the number of agents entering the business will decrease. In fact, the National Association of Realtors estimates that its membership may decline from 1.2 million to 800,000 by the end of 2006. If agents and companies are conducting fewer transactions, the cost of hiring the wrong type of agent will be even more costly than...