The Running Realtor: Changing Faces in a Real Estate Office

A blend of ramblings about Real Estate & Running around New Haven County and the Connecticut Shoreline

Changing Faces in a Real Estate Office

This morning I undertook the project of cleaning my home office.  It took several hours but I stop to let my mind reminisce while sorting through the pile that accumulates over years. 

Before tossing old junk I did scan a few items and create graphics for blogging. One of the things that caught my attention was an old phone list. The Real Estate Roster for my office from November 2003 contained 42 Realtors and I just counted our current list.. still 42 but of those only 12 remain the same.  Four others are actively in business with different agencies, almost a 2-1 drop out rate. 

Also found a floor schedule from June 2004.  Scanning over the list of agents covering the 90 available shifts I counted 32 that are still in my office. This confirms the nearly 2-1 drop out rate within a three year timeframe.

We all know this is a tough business. Public perception seems to be we cruise around a few hours a day and collect the big bucks at closing time.

FSBO's think the can toss a sign out front and sell their home without using a real estate agent.  Some do find success but the majority will list with a real estate agent within a few months. 

Is this trend unique to the Connecticut Real Estate Market?  We have seen the number of licenced agents swell during the boom years.  I actually thought our office size increased but only the faces change.  Curious... How is the turnover in your part of the country?

When you are Coming to Connecticut -  Contact Dan Cummings - The Running Realtor for help with Real Estate.

Comment balloon 5 commentsNo Longer Active • April 07 2007 09:22AM

Comments

According to unnamed sources, 80% drop out after 2 years.  It's pretty typical in just about any business (the drop out rate).
Posted by Christina Ethridge (The North Idaho Dream Team powered by SKE Realty Group) about 11 years ago
A local real estate school states that 70% don't make the first year. And a local television station recently reported that ther is 1 agent for every 100 people in Utah.  At 70% dropout annually, how long before everyone has had a license at one time?
Posted by Keith Jeppson - Salt Lake City Real Estate (Everest Realty Group) about 11 years ago
I don't think it matters what part of the country....the turnover of agents is part of the business...9 out of 10 new agents don't make it past their first year.Conflicts with Brokers,commission split issues,desk fees and numerous other issues can come into play.Sometimes agents just want change.
Posted by Maurice McLaughlin, Maurice McLaughlin (Nations Princeton-Nassau Inc. d/b/a NATIONS) about 11 years ago

Dan:

 Many of life's failures are people who did not realize how close they were to success when they gave up.

 ---Thomas Edison

If you ever have the opportunity to advance monetarily in real estate take it.  That is how your broker got where he is.  :)

Posted by Ruthman Real Estate (Accessibility & The Power to Advise) about 11 years ago
So True,..... I knew the first year drop out rates were high but never noticed longer term was so low. 
Posted by No Longer Active (Real Estate) about 11 years ago

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