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Found a stat that 40% of real estate agents quit in their first year
I was browsing the NAR website last night (boring, I know) and stumbled on a study that said 40% of new agents don't make it past 12 months. That floored me, especially since I've been freelancing as a showing assistant for about 18 months now and it's been rough but doable. The report broke it down by income too, saying most dropouts earn under $15k their first year. I'm not quite there (I'm closer to $22k) but it got me thinking about how many people jump into real estate part time and just can't swing the fees and gas money. I ended up reading a whole thread on a agent forum where folks talked about burning through savings on lockbox subscriptions and MLS dues. Has anyone else here seen that stat and felt like it explains why the freelance market is so inconsistent?
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logan_anderson404mo ago
Yeah it's basically the same pattern you see everywhere. Most people who start a new thing don't realize how much work and money it takes before you see any return. Like people who buy gym equipment in January and stop going by March.
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lucashenderson4mo ago
That 40% stat explains a lot about the feast-or-famine cycle I see.
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dylan_ward4mo ago
Read an article the other day that broke down how most of these businesses actually fail because people run out of money before they get enough customers. The writer compared it to a marathon where people sprint the first mile and crash before mile three. The ones who make it past that 40% mark tend to have a second income or savings to cover the slow months. They also spend more time building a customer base before they quit their day job. Is that something you see with the ones that survive?
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