The real estate business can be tough. It can be fickle. Agents, buyers, and sellers alike all have some story to tell about the undulating ground that it can be to traverse. I’m sure everyone knows someone who has either dabbled in real estate or has launched into it wholeheartedly whether as an agent or as a business venture only to utterly fail.
This begs the question: Why? Why do agents fail and ultimately quit the real estate business? Every one and every story is different, but there are seven major stumbling blocks that can trip up a real estate agent:
1.The fear of earning (or not earning) money in a commission environment.
“If I don’t make a sale, I can’t pay my bills!”
2.The fear of technology.
“I can barely email let alone anything else. What does technology have to do with the real estate business?”
3.The inability to understand today’s consumer behavior.
“The market and consumer sensibilities keep changing and I simply can’t keep up!”
4.The inability to treat real estate as a full time job.
“ I don’t have to quit my day job and do real estate full time to make extra money, right?”
5.The expectation of instant gratification.
“How hard is it to sell a house anyway? Everyone has to live somewhere, right? I am going to make a killing!”
6.Treating real estate like any other sales job.
“Houses, shoes, furniture… how hard can it be?”
7.The inability to properly budget money.
“I didn’t set enough money aside! I didn’t imagine that this would ever happen…”
There are a plethora of reasons for failure in this business, but if you can get a firm grasp on all these potential real estate hazards, take a hold onto the reality of the real estate business then you are well on your way to conquering them and preparing for success.