by Stuart Neal
on Tuesday, June 30th, 2020 at 4:52pm.
In our market, approximately 80% of the fees go to just 20% of all REALTORS®.
Average production per agent is about 10 transactions per RAE member * Source RAE
In general, most people can break into the market if:
You have a solid knowledge of the construction industry (helpful, but not crucial)
You have a solid background & extensive training in direct selling, marketing, or customer service (important)
You are extremely well connected & know many people (helpful, but not crucial)
You are willing to work hard & put in long hours for the first 3 to 5 years (crucial)
You can demonstrate a point of difference (important)
You have some working capital to last 3 to 12 months (less if you join the right brokerage)
Question – How will you succeed if you don’t have all or most of these things going for you?
* Find a brokerage that will provide leads, training and mentoring!!!
* According to the MLS system hosted by RAE, in 2019 there was 17,533 transactions. Assuming & 2 agents per transaction that would be 35,066 transaction ‘sides’ divided by 3224 agents, 214 brokers & 40 managers, total 3505 members. 35,066 transactions divided by 3505 licensees’ is 10 transactions each.
If you join a traditional brokerage, you may need enough money for 12 months living expenses.