7 Must Avoid Career Killing Mistakes

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 30 January 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we're discussing the 7 top reasons that most real estate agents fail out of the business. According to the National Association of Realtors, 87% of licensed Realtors FAIL out of the business in 5 years or less. That means only 13% survive. Why is this and how can you be part of the 13% not just surviving but thriving? Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com Reason #1: Absolutely no accountability of any kind. Most agents were previously either in school (lots of accountability) or were W2 employees working at a 'normal' job (daily accountability). Now you're in a 1099, independent contractor world. Most agents become immediately TOO independent and can go months without knowing what to do, when, or how to do it. Sporadic work equals sporadic income. Discipline and consistency are your friends. Reason #2: Confusion about where close-able, motivated buyer and seller leads actually come from. This starts when new or newer agents have a couple of fairly easy deals right out of the gates, almost always friend or family deals. That makes it easy to believe that all your deals will always come easily and always from people who already trust you. Once that runs its course, agents wait too long to become proactive or start spending money they don't have on things that won't work or won't work quickly enough. Close-able leads come from people who clearly need your help. Refer to our podcast, Real Estate Agents 90-day Money Making Plan, and the countless other podcasts we have regarding proactive lead generation! Huge News! Tim and Julie Harris are providing 250 live mastermind meet-ups in 2024. Chances are there is an event near you. Best part? These events are free! Grab your spot now: https://app.getriver.io/tim-and-julie Remember that a higher percentage of your past clients and sphere either closed recently at a super low rate or refinanced themselves into a lower rate. The Covid years robbed future deals from the future. Yes, be diligent with your database communication, but you can't count on as much business as you think, and you don't have time to wait. Reason #3: Relying on luck, hopium, and speculation instead of sales skills. Stop spending your hard-earned money on things that are not directly related to closed transactions. Reason #4: Not leading with profit. Your product is profit. Every day, you decide to run a not-for-profit organization or a for-profit. Which one depends on the actions you're taking. Refer to our podcast about your success schedule. Reason #5: Lazy lead follow-up, overly complicated communication methods. If you're not using lead follow-up scripts, buyer and seller pre-qualification scripts, and furiously fast in your follow-up, you are on track to be part of the 87% who fail. REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris Solution? Follow a plan, get involved with Premier Coaching, and ask us more about eXp Realty. Don't be Real Estate RoadKill! Surround yourself with successful, Harris Certified Coaches and other Premier Coaching members. Join today for free by visiting PremierCoaching.com It only takes a minute!

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:10.2	This is the number one daily radio show for realtors looking for a no BS authentic real-time coaching experience.
0:18.2	What's really working in today's market, how to generate more leads,
0:21.8	make more money, and have more time for what you love in your life. And now your host, Tim and
0:28.3	Julie Harris. On today's podcast, we're going to crack the code why so many agents fail. Real estate
0:35.8	is not a business for the faint of heart. That is for sure.
0:39.7	But the simple fact is that there is a record number of agents right now that are failing
0:43.7	out of the business faster than they have. And certainly the amount of, you know, Julie and I've
0:47.2	been in the business since the early 90s. And the failure rate of real estate, it's always been
0:51.2	fairly consistent, but the last probably three to five years,
0:58.3	percent-wise, it does seem that more agents are struggling to stay in the industry. And what we're going to be doing today is we're going to be giving you the top seven reasons why most agents,
1:02.6	unfortunately, will fail out of the real estate business. The best thing about today's podcast,
1:07.2	I think all of you will agree after you listen to all seven points, is that you can avoid all seven of these reasons why agents do fail. So avoid these things, and it obviously
1:17.2	dramatically increases your likelihood of not being real estate roadkill. Well put, so according to
1:23.2	the National Association of Realtors, 87% of licensed realtors do actually fail out of the business
1:29.2	in five years or less. That means that only 13% survive. Well, why is this and how can you be part of
1:35.7	that 13% not just surviving but thriving? We're going to give you those reasons. So let's jump into
1:41.1	reason number one if you're ready. And Julie, I don't know if you read this.
1:48.2	Maybe you did, and that's where you got a lot of your points, but the article, there was several articles that were written about National Association of Realtors and someone deep diving into the data
1:52.7	that they produce about the average agent and whatever. And there was some independent studies done.
1:56.9	And the average agent in the country is earning something like less than $10,000 per year.
2:02.4	Do you know that?
	...

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