The True Life Of A Real Estate Agent
A real estate agent is the intermediary person between a buyer and seller of real estate property. These agents have either a responsibility to find a seller a qualified buyer interested in purchasing their home or to find a buyer their dream home within their price range. The life of a real estate agent is enigmatic and has a sense of mystery and ambiguity and is often very difficult for others to both understand and interpret.
Some real estate agents love houses and choose to get a real estate agent license. Other real estate agents look at real estate as a very large competitive industry and will ultimately decide to become independent real estate agents. Becoming an independent real estate agent allows them to become entrepreneurs and build their own business.
Have you ever wondered how long real estate agents worked in real estate before becoming successful? Let’s examine the secret life of a real estate agent along with twelve eye opening statistics in order to help us answer this question.
Real Estate Agent Statistics
Approximately 65% of the real estate agents who responded to our survey have worked in real estate for a minimum of 4 years. The life of a real estate agent is extremely busy and often incredibly time consuming with 58% of real estate agents spending most of their work hours at the office. About 49% of these agents work more than 40 hours per week while 22% of agents said they work on average less than 30 hours a week.
What do real estate agents spend most of their time actually doing? Most of an agent’s time is spent on finding potential prospects. Nearly 60% of real estate agents look for prospects on a daily basis and devote several hours every day to prospecting.
Although it is evident that real estate agents spend most of their time at work, an agent’s job is very stressful and demanding. As a real estate agent you have to allocate some of your time to advertising your company and the homes and properties you’ve been hired to list. In fact, 62% of real estate agents spend at minimum an hour a day on marketing and advertising.
Slow Starting Career
If you’re considering becoming a real estate agent keep in mind that you will work for quite some time before your able to earn enough money to support yourself as most of your money is used on new technology, marketing, advertisements, and transportation. About 78% of real estate agents worked at least six months before they were able to financially support themselves. Of these agents, 53% of them spend more than $500 a year on technology and software because cutting-edge technology serves as a mechanism to help them distinguish themselves from other real estate agents. Roughly 55% of agents spend more than $1000 a year on transportation while 19% of real estate agents spend more than $5000 a year.
If you’re considering becoming a real estate agent take these eye opening statistics into account so that you’re not surprised after you begin to work in real estate.