As part of my rolling 2-year study I have had the privilege to interview literally hundreds of newer industry members. My original reason for conducting the study was to learn and share the reasons for the extremely high dropout rate of new industry members. 

According to anecdotal information staff at the REALTORS® Association of Edmonton (RAE) shared with me, around 73% of new members don’t last longer than 2 years. 

A byproduct of my study was that I started to expose knowledge gaps and I now offer FREE ‘Bootcamp’ workshops to those that wish to learn and improve.

In my opinion, new REALTORS® fall into one of 4 groups. Which one are you?

Large Sphere (SOI)

You have a larger extended family, and you are close to many family members. You are a member of distinct community or life-style group. You have shown leadership in other areas of your life. You are a people person that collects personal relationships along the way. When you created your database, you were easily able to add more than 100 people and some cases many more. Even though you are a ‘rookie REALTOR®’ you have developed excellence in other areas of your life and people will naturally trust you with their next home purchase or sale. I have seen local politicians, or perhaps ex professional sports people do really well with their SOI. 

Self-Starter

You are scrappy and competitive. You are willing to do what it takes to build a client base and you will do things to win new clients most new REALTORS® will not do. This includes playing a sport that is new to you, knocking on doors, calling For Sale by Owners etc. You will cram Open Houses into your weekend, no matter how busy you get. You commit to doing the hard work of building a client base and you will apply yourself for the first 3 to 5 years of your REALTOR® career until the results come.

Team Player

You are more collaborative by nature. You like to interact with others and share ideas and perhaps even clients with others. You are less comfortable calling people that might be hostile, but you realise that you will also need to kiss a few frogs before you find a princess or prince. You value being in a team because of the opportunity to work on leads provided to you via the team marketing program and you also appreciate the higher level of training, support and even accountability that a team culture expects and demands. You see life as a ‘we experience’ as opposed to a ‘me experience’.

Orphans

You got into real estate because you liked the idea of looking at homes, selling homes, big commissions and personal freedom. So far however you have not figured out ‘who you are’ or what you like to do and are good at. To this point a real estate career has been a bit of an experiment. You have not seen the success you had expected or dreamed of. Do you get some help? Devise a plan? Join a team? Or just give up? 

It is this group that forms the majority of those 73% that leave our industry, in my opinion.

Want More?

Learn on You Tube: Stuart Neal, Edmonton Real Estate Career Coach.

Go to Facebook: Stuart Neal, Edmonton Real Estate Career Coach Facebook.

Read Stuart’s bio: Stuart Neal, Career Coach, Team Lead, Broker & REALTOR®

 

 


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