by Stuart Neal
on Monday, March 2nd, 2020 at 4:40pm.
A career in real estate can seem very glamorous. To many people, it also presents as a way to make scads of money for little effort.
The reality? Most new REALTORS® need to exert many thousands of man hours and invest heavily in professional development and marketing to get their careers off the ground.
So, you might be asking. What are my odds of success? How sure can I be of success?
Here’s a scary statistic. According to an ad hoc study by the REALTORS® Association of Edmonton,72% of new members have left the industry within 2 years.
Here are my thoughts on how you can be successful:
Make sure you have enough cash to last for 3 to 12 months without receiving a commission
Look for a brokerage that offers collaboration and training (most don’t)
Look for a brokerage that supports you with marketing and lead generation (most don’t)
Look for a brokerage that offers you the right mix of benefits versus cost
Lower your expectations*
*Average production in our market is about 10 transaction per year. That’s about $72,000 in gross revenues, before expenses. Hint: If you are coachable, work hard and join the right brokerage, you will comfortably exceed this production.
Before you can become a REALTOR® you must earn your license.