How much experience should the agents have?
Instead of asking how much experience an agent has, ask how many times the agent has renewed his real estate agent the licenses. In Georgia, for example, real estate licenses are issued for four years.
You have probably heard the adage that 10% of agents do 90% of the business. This is because the main producing agents are consistent and this consistency comes from experience. The minimum number of transactions that many brokers expect one agent to complete per year is ten, which is almost one per month. Not much by the standards of a superior producer, but adequate in most real estate circles.
Why do real estate agents leave?
The number one reason for real estate agents to leave the business is because they are not making enough money. The average salary of an agent in the United States is less than $ 35,000 per year. Subtract from that figure normal business expenses and taxes, and hopefully no one is trying to feed a family of four with what’s left over.
Although experts advise new agents to maintain between six and 12 months of salary in reserves, few accept that advice. Business seems to be very easy for those who look inside, but real estate is complicated, consuming time and the average person is typically ill-equipped to be a real estate agent.
Unfortunately, many do not realize until they have endured many months without a paycheck.
These are some of the skills that successful agents have that help them thrive in the real estate industry:
- Time management
- Patience to handle conflict resolutions
- Marketing experience
- Projection of a departing personality
The benefits of experience
An experienced agent is one whose mistakes are new. Successful agents learn something new every year; while lower agents tend to repeat the mistakes of the past. The best agents treat each client as if their business depended on the client’s success, because it does so.
- Offer solutions based on previous results
- Anticipate problems before they occur
- They enjoy solid reputations with other agents
- They have practiced strong negotiation techniques
- They have solid contacts with mortgage lenders, title companies, housing inspectors, appraisers, general contractors, pest inspectors
- Understand the complexity of changing real estate markets
- They provide crucial market statistics and data to customers
- Professionally guide clients to close on time and without problems
Should you hire an agent that is family?
Family members are often careful not to offend each other. The agents that are related to you may not want to counter your opinions or ideas, even if it is in your best interest to do so. You may not feel comfortable demanding what you deserve, as you would with an agent who was not familiar.
The bottom line is that you may want to compare competitors and interview a real estate agent before making your final selection.