Why Property Agent Drop Out
Many aspiring new agents would have heard from friends or attend recruitment seminars regarding how lucrative the real estate business is. It is not unusual for the top achievers in ERA to close 6 digits commission in a single month.
How did they do it, you may wonder?
But on the other hand, do you know many new agents dropped out within the first 12 months of their sales career. What mistakes did they did?
Here, let me digest for you the top 8 reasons why these new agents joined with a big bang but left quietly after sometime.
1. No real purposes
Some agents joined this property career for the novelty. Others are retrenched and they fall back to real estate sales as a contingency. They have big aspiration of closing big commission deals. However, the lack of a real purpose will hinder them psychological. This real purpose is very importantly as this is the driving force for you to overcome setback and challenges in the real estate business.
2. Lack of Hard Work
Some agents assume that houses are sold by themselves. They are reluctant to upgrade themselves with new skills or learn more about the market trends. They are also not willing to work hard. They often explore the easy way out or short cuts.
3. Lack of Capital
Real estate sale is a business. You need money to run any business. Many agents dropped out when their funds are dry or when they did not close any deal during the first few months. It is not unusual not to close any deals for the first few months. When the saving is low and bills are required to be paid. The urge of returning to a fixed paying job is very inducing. This is one of the most common reasons agents drop out when they are short of money.
Perseverance is essential for any new agents to survive in this highly competitive sales business. You need to have a heart of steel if you want to do well in this trade. Many give up too easily when they are faced with objections. They also lack the mental strength to overcome setbacks. In short, they lack the perseverance to see through their goals.
5. Family Support
A supporting family is paramount to any new agent’s success. If you have family members that keep discouraging you in this business. It will be a matter of time they will influence you and pull you down. Gain their support and understanding during this time. Tell your family that you are embarked on a business. You must prove to them that you will succeed.
6. No listings
A real estate agent job is to sell houses. If you failed to have sufficient property listings. You will fail to last. This is our life hood. This is the same for project agents. If you failed to have buyers to buy anything from you. You will not last long in this trade.
7. Poor Attitude
You need to have a positive attitude to do well in this industry. Irony, it is this little attitude that separate the winners and the losers. You must have positive attitude as you approach this business.
8. Overcoming your greatest fear
One of the most common failure regarding agent dropping out is because they failed to overcome their greatest fear. These fears can be interpreted into many different forms. Your success will come when you managed to overcome the greatest fear in you!
In the past years of my sales career. I have seen numerous agents that come and go. Some joined with very strong enthusiasm but left with disastrous results. Their failure can be avoided. I hope my sharing of the above 8 pointers can help you to alleviate a disaster ahead.