Real estate industry looks shiny and glamorous from the outside. But many of the real estate agents leave this industry in the first few months. If you don't want to see your name on that list of quitters, you'll have to know some preventive measures.
Top 4 Reasons Why Real Estate Agents Don’t Survive the First Year
1. Failing to Generate Leads
Lead generation is the key to success in real estate. As a newbie real estate agent, you'll have to network with different types of people, such as new homebuyers and investors.
As a new real estate agent, new homebuyers are the perfect niche to target. Again, if you can network with real estate investors, it'll be a jackpot for you.
But have you ever wondered; how would you connect with all these people? Here lead generation will come into play. But unfortunately, most of the new agents fail to create sufficient leads, and as a result, they quit in their first year.
If you want to create your brand or presence in your neighborhood, you'll have to use the door knocking or cold calling method. On the other hand, if you want to grab a wider audience, you can use social media platforms to generate your leads.
2. Lack of Self-Management
As a real estate agent, you'll have no boss. You won't have to work under anyone. And this attracts a lot of people to become a real estate agent. However, if you're not disciplined, it can be the reason behind your downfall.
That's why before starting your career as a real estate agent, you'll have to be very disciplined. You can follow some time management tips such as waking up in the morning at the same time every day, writing down your daily plan, etc. Again, as a real estate agent, you'll have to add some important activities such as lead generation, database growth, and network building in your daily routine.
Apart from these, you can use different mobile applications to use your time properly.
3. Don't Have a Valid "Why"
To most people, real estate business means a lot of money. If you want to become a real estate agent just to earn a lot of money, this business isn't for you. You'll give up quickly if this is the only reason to join real estate. You shouldn’t fall for those real estate tv shows.
To establish yourself as a successful real estate agent, set your "why." Ask yourself why do you want to build your career as a real estate agent? It shouldn’t be only money. Yes, money is important, but it shouldn’t be the primary reason to start a career as a real estate agent.
4. Fear of Failure
As a new comer to the real estate, you may face rejection multiple times. But you must stick to your goal no matter what happens.
Yes, nobody likes to be rejected. But it's a part of the job. If you can survive your first year, you're destined to become successful in the real estate business.
