The main reason why many people give up on real estate is because they expect to see immediate results. They think that a month of hard work will automatically translate into good business and big money, and when it doesn't, they quickly realize that real estate isn't for them. The truth is that real estate isn't a get-rich-quick scheme. Most new real estate agents quit in their first year due to the emotional toll of “fear of failure” and rejection. Real estate isn't for the faint of heart, according to Bret Weinstein.
Too many new agents never have a fair chance of demonstrating what they can do with competent leadership and mentoring. Lead generation occurs through social media, websites and “is going viral rather than establishing contacts with other real estate professionals.” Long hours are also a common occurrence for successful real estate agents, often longer than the typical nine to five, and any help you want to hire will come out of your own pocket. But that doesn't mean that motivated and prepared real estate agents usually give up, it just means that a lot of people enter the real estate industry unprepared. If the motivation is simply to “make a lot of money”, real estate isn't the right career for you. Nowadays, a successful real estate agent can't rely on the people he meets to get leads; he has to go beyond his own social sphere.
This isn't an abstract topic, it's one of the biggest purchases in a person's life, and the real estate agent needs to understand every part of the process in its entirety. They bring their unique perspective while teaching and can provide real-world examples of how to apply concepts. While one of the perks of real estate is that you can manage your own schedules, you still need to devote enough time to your career to see results. Since real estate transactions are as delicate as they are, real estate agents must move constantly and cannot be easily discouraged. If you don't know how to deal with the problems that come with being new to the real estate industry, it could happen to you. When generating leads, real estate agents should focus on people who are still looking for a real estate agent, people who still see the value of working with a professional.
In fact, we recommend that you interview real estate agents before jumping into the real estate industry to understand the daily life of a typical agent. If you're considering a career in real estate, you should be prepared for the common pitfalls faced by real estate agents and have smart strategies in place to overcome them. And if you switch to a career in real estate thinking it's going to be easy, you'll probably be disappointed. Even an experienced real estate agent cannot say with certainty whether the market is headed for a downturn, if it is a boom that will last, or if it could even accelerate; he can only advise his clients to the best of his ability. To avoid becoming one of those who quit in their first year as a real estate agent, it's important to have realistic expectations about what it takes to succeed in this field. You need to be prepared for long hours and hard work, have an understanding of all aspects of the process, and focus on finding leads who value working with professionals.
Additionally, it's important to have strategies in place for dealing with common pitfalls and be aware that success won't come overnight.