Press release
First-Ever Realtor.Com® Study Identifies Challenges of New Agents and What it Takes to Succeed in Real Estate
Only 4 in 10 new agents are confident about a long-term real estate career; mentorship, cash reserves, and a full-time commitment key to early success SANTA
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[{"type":"text","content":"Only 4 in 10 new agents are confident about a long-term real estate career; mentorship, cash reserves, and a full-time commitment key to early success\nSANTA CLARA, Calif., Nov. 7, 2022 /PRNewswire/ -- A record number of Americans became real estate agents in recent years. It can be a challenging career for newcomers, and the early struggles to find success means only 4 in 10 new real estate professionals are confident about having a long-term career in real estate, according to Realtor.com®'s new #ThrivePastFive study.\nOnly 4 in 10 new agents are confident about a long-term real estate careerRealtor.com® recently surveyed more than 2,000 agents to gain insights into their top challenges, what separates new and experienced agents, and what it takes to find success in those critical early years, and is translating it into insights specifically to help new agents succeed. Having a great mentor and cash reserves, as well as spending money on marketing, and making a full-time commitment during those first few years in real estate are vital for an agent's long-term success, according to the study results.\nThere are many different reasons why so many decided on a real estate career, from it being a flexible career option for those seeking balance and autonomy, to the clients, the lifestyle it provides, and the income potential. Despite it being a hot career choice for many, real estate is not easy, and every agent faces different challenges, from a lack of knowledge and training at the start of a career to growing a client base and understanding how to effectively convert leads, and too many agents don't make it past year five.\n\"In a shifting and ultra-competitive marketplace, with twice as many real estate agents than listings, having insights from experienced agents – 80% of whom are confident about making it long term as an agent – about what works best to power business growth has never been more valuable,\" said Donna August, vice president of B2B Marketing at Realtor.com®. \"With 25 years experience helping agents succeed, Realtor.com® is committed to developing tools and insights to help agents who are just starting out, so they can thrive and find success in their early years.\"\nLead generation a top pain point With home inventories rising but still near four-decade lows, it's no surprise that generating new client leads ...