Top Reasons Realtors FAIL - FAIL TO ADAPT
Yes, it is true that real estate can make a big fortune. But as a real estate agent, still, there is an 87% failure in the first few years.
Most of them don't even renew their license.
And here is one of the biggest reasons. The reason is FAIL TO ADAPT
Real estate industry is always changing. The style of business is changing. The structure of the business is changing. Now, of course, due to Covid, a lot of different businesses got a makeover or they had to add a lot of different changes, including real estate. Regardless if it's Covid or not. 10 years back in 2007, 2008, real estate went through a huge change & even every 5 years, every 2 years, there is always continuous change. But most real estate agents fail to adapt. For example, in 2004, 2005, the market was normal. But then when the foreclosure market hit, of course, some of the Realtors became the foreclosure listing agent. Not everybody can because there's a limited position for that. But then there were enough short sales to help homeowners to save their credit, save their home.
Now, I know personally some real estate agents, they refused to learn short sales. They were still thinking that they can do the business the same way. Same thing now, I know a lot of Realtors are still thinking they can do the business the same way, same kind of open houses, Same showing properties and you won't believe it there are so many buyers that are buying property without even looking at the property. They're just viewing the property through a video and then they're meeting the Inspector when the inspection time comes and check the property. So the style changed. We got to adapt.
So, if you are a real estate agent, you want to be successful, you want to be the Agent of the Future, you got to adapt, you got to change, you got to change for good. You have to adapt to the new things. Anything new coming, what's going to help your business. New technology, the videos. You got to learn how to do videos because this is the way the market is right now.
So hopefully this information is going to help you to get to the next level. Let’s adapt to grow.