Being satisfied with your employer and the overall place where you spend your working hours is a crucial factor in being employed. Having to spend time under people you do not agree with and in an office you despise is miserable and it rarely gets better. Employee happiness is tightly connected with performance and output, as the happiest of workers are usually also those that contribute the most.
If everything is to your liking, there is no good reason why you cannot perform your daily responsibilities. This is true across all industries and markets. What is also true is the fact that there are still millions of unhappy employees who are more than willing to leave unless things turn for the better. One industry that people do not often think about when it comes to employee turnover is real estate.
Since it seems like an individual job because people interact with the agent, usually in the place they are interested in, it is easy to forget that they too have an employer and a place of operation. There are independent real estate agents, sure, but most of them are employed by brokerages that have multiple agents at their disposal. When they are unhappy, just like any other worker, they can and do leave their position and look for a new brokerage. If you were ever wondering what makes them leave, wonder no more. Keep reading this article to learn about the reasons why real estate agents are leaving their brokerages. In the meantime, if you are in need of trusty and experienced realtors for a new place, make sure to check out Miami realtors.
1. Not Willing to Work
One of the main reasons why many real estate agents leave their brokerage firms is quite simple and it does not have to do with the employer. It has to do with the ability and approach of the agent who for some reason failed to do as hard as necessary. Starting any kind of job means initially working long hours, losing your nerves and sleep over it, and shedding blood, sweat, and tears.
However, real estate is different because the hours are also odd and there are not any rules like it being a 9 to 5 job. There are no agents who are successful and work every day from 8 to 4 or so. You have to be available constantly, 24-7, both through phone and email. This is too much for many so they leave the brokerage behind, believing it to be the fault of the employer and not the entire industry. The fact of the matter is you earn how much you work or rather how much you sell. There is a cut on top of the salary most times, so the harder the agent works, the more they make.
2. Expecting the Wrong Things
It is often as simple as the job not being for everyone. Selling real estate is definitely something only certain people can do. Apart from being great with numbers, knowing the town inside and out, and knowing the entire market, an average real estate agent also needs to be an above average negotiator and people’s person. Making a ton of money and living that realtor life can only happen if you are successful for long, and it is actually a myth that leaves many agents jobless once they realize what the industry really is.
The average yearly salary of $40,000 breaks the dreams of many, leaving them wondering what the hype surrounding this job is. The popular real estate shows and the fun activity of simply looking at houses are two more things that contribute to entering real estate for all the wrong reasons. There is so much more than just showing the houses, welcoming potential buyers, and telling them facts about the house. Unless you are in it for the actual work, it is a job as daunting as any other.
3. Less than Average Lead Generation
Generating one’s business is greatly limited in certain positions. There is simply a finite number of ways through which a lead can be generated and that is the reality of things. This is not the case for real estate agents as there are many ways to lead generate, at least when you know how. A big problem for poor agents, and therefore one of the reasons why they leave their brokerages en mass, is the fact that they do not understand how to get new leads for their business.
Open houses are certainly the most attractive and common tactic, but there is so much more than this. Good agents know this and they opt for online marketing, social media, and other modern solutions more than spending hours and days at one location. Keeping new business chances coming in is not possible if the agent focuses on a single piece of real estate for the entire day. Utilizing the internet with an occasional, weekend open house is a much more plausible scenario when new leads are concerned. Modernizing the approach is crucial in every single industry, real estate included. Eliminating downtime and maximizing optimality is key.
4. They Are Poor Professionals
Being the bigger man and admitting to your faults takes character. It also takes great effort to change what is wrong with your approach and the way you generally do things. Not nearly enough people are willing to do this for the collective good of the entire firms, which often happens with brokerages. Real estate agents who are a nightmare to work with will fail in most cases. It has to do more with who they are as people than how they do their job. They would probably be similarly unpleasant on other positions too.
This comes as a problem when they interact both with their peers and their clients. The conversations and relationships need to be enjoyable for everyone if the business is to be done. There are hundreds or even thousands of other agents that the clients can go with for their needs, and whom the brokerage can hire instead of the difficult agent. Buyers and sellers will not hesitate to switch over to a more likeable person, leaving the other agent without work. This then leads to dissatisfaction which is often projected onto the brokerage. The result is an agent who quits for the wrong reasons and continues being a poor professional elsewhere.