When you work with a high-performing real estate team like ours, you learn a thing or two about how to succeed as a real estate agent. We know firsthand what it takes to build a rewarding career, from selling your home for top dollar to helping first-time buyers live their dreams.
Yet, 80 percent of real estate agents quit after their first year in business, which got us thinking about what makes our team so different.
If you’re a newly licensed agent or have a couple of years of experience under your belt, we’re here to show you what’s possible on our thriving team. We’ll kick things off with a few stats to get you thinking about what’s next in your career.
A career in real estate by the numbers
In Rhode Island alone, there were 4,833 licensed Realtors® in 2020 – though not all of these agents are actually doing business. That figure has seen a slight increase in 2021, yet it essentially held steady. The numbers could, however, be staying consistent if some agents are getting licensed as quickly as others are getting out of the business. In Massachusetts, the number of Realtors® also held firm at 24,857 with a slight increase.
What does all this mean for agents who are starting their careers? Not much, since the majority of agents quit after their first couple of years. So, even though the competition doesn’t appear to be dropping off, there are real advantages to hanging in there, especially with the right team.
Let’s take a look at what some of the advantages are of sticking with your new career:
- The longer you’re in the business, the more value you can offer your clients. Someone who’s about to quit after eight months can’t offer what you can if you stay with it.
- As more people quit, there’s less competition to land new clients. It’s basic supply and demand. Fewer agents mean you’re more in demand.
- Higher turnover gives you the chance to build more knowledge. Since you didn’t quit, you have what it takes to wow your clients with all the information you’ve acquired.
- Great professional reputations come with time. Are you someone who likes going the distance? Dedicating yourself to your career when others quit is a great way to build a reliable reputation and outshine any new competition.
You shouldn’t forget the most important part—the potential to earn more money as your career develops. The longer you work at something, the more skilled you become at it, which increases your earning potential. You could even see yourself moving into new market segments after establishing trust with your clients.
Homeowners are hungry for expert guidance when buying or selling something as important as a property. The longer you’ve been at it, the more confidence you’ll instill in your clients.
Why do so many agents quit after a year or two?
Too often, people embark on a career in real estate, assuming they can throw on a blazer and smooth-talk their way into financial success.
The reality is that building a professional brand that inspires trust is a process, one that can be made easier by joining a team with advanced professional resources and an established reputation.
Before you start your career in real estate, we recommend preparing in the following ways:
- Take a serious look at your savings; you may need them as you work towards earning more commissions, especially if you jump in full-time.
- Invest time to specialize in a particular market.
- Don’t skimp on your digital marketing efforts.
- Understand technology and use it to get more clients.
- Join a team that offers the kind of career, support, and training that you want and need.
- Cultivate referrals from the people in your life.
Lack of preparation, unrealistic goals, and a general misunderstanding of what goes into a career in real estate often compels many agents to quit. Before you quit your new career, consider reaching out to us and sharing your challenges. We’re happy to listen and discuss your options.
What makes our team different?
Where do we even start?! Joining Spectrum Real Estate Consultants with Keller Williams Realty comes with many resources to show you how to become a successful real estate agent.
Here’s a taste of how we invest in you:
- Expert digital marketing strategies at your disposal. Our email marketing efforts engage current, past, and prospective clients. We also offer social media support, mailers, SEO blogs, and other marketing opportunities that invest in your success.
- Custom lead magnets, graphics, memes, and more. Rise above the crowd with custom graphic design materials to help you reach all kinds of clients.
- Professionally written property descriptions. Take the pressure off and get custom property descriptions for all your MLS listings.
- Join a team that wants you to succeed. We take success personally around here, and few things give us more joy than satisfying our clients while supporting the agents who make it happen. When you come aboard, know that you’re joining a team of professionals who have your back and support your personal goals and growth.
That’s just the beginning. We want our agents to succeed, which is why we offer a dedicated careers page to help get you moving.
Let’s talk about your future
How to succeed as a real estate agent very much depends on the team you partner with. Going it alone may only lead to quitting before you gain traction in what could be an exciting career.
We’d love to start a conversation about what’s possible with us. If you’re ready to get more from your career, we’re here to help you get the keys to success.
Reach out and start a conversation with the only real estate team you’ll ever need.
Ready to take the leap? Shana did years ago, and she’s been crushing it ever since. As a former bartender, she knows the strength of the hustle! Check out Shana’s story below 👇