i turn REALTY into REALiTY

Licensed to Sell!

A recent report from the National Association of Realtors (NAR) stated that the number of licensed Realtors is up 44% since 2003. That’s a whole lot of new agents in the field. Although home prices have appreciated significantly over the last several years (in my area at least), there are fewer homes on the market. This translates to more agents assisting fewer home sellers and buyers.

Another interesting statistic from this article reported that the median income for agents with less than two years experience was $12,850, while agents with 6-10 years experience had a median income of $58,700. Also, NAR reported that 86% of newly licensed agents drop out of the business during their first year. I personally had two clients try and sell real estate, but ultimately “changed their minds” after seeing firsthand just how difficult it can truly be. They stated that I made it look so easy to them that they thought it really was easy. Boy, were they surprised!

What’s the take-away from all of this? Not to stand on my soapbox for too long, but I work pretty hard to make what I do look pretty easy. Those that think this job is easy should walk in my shoes for a bit. When I started selling real estate back in 1996, I was considered the “new guy” in my office. Since then, I’ve seen about two dozen or more agents come and go in my office (and my broker is VERY particular about who he hires).

This profession can be very difficult for single people. Those agents that I’ve seen be most successful are ones who have spousal support (emotional as well as financial) to get through the lean times. My first year income back in 1996 was a whopping $18,000 (+/-) and that was gross, not net! By the time you subtracted my expenses and taxes, I actually lost money! Thankfully, I have survived and actually thrived over the years (many thanks to my loyal clients who have referred countless other clients to me).

If I had to start all over from scratch, I’m not sure I would do it again, but you know what? At this point in my career, I absolutely love my work, my clients, and most of all, the freedom it allows me to spend time with those I love!

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