10 Reasons Why Most Agents FAIL in Real Estate | #TomFerryShow Episode 134

As a real estate professional, you’re an endangered species.
There are few professions with a higher failure rate than real estate.

Why is that?

In many years of working in the industry, I’ve identified 10 reasons why agents fail… and I’m sharing them with you in today’s #TomFerryShow.

You’ll learn:
• The critical difference between being interested in your career and being committed
• How your fear of making mistakes is actually preventing you from greatness
• Why knowing your numbers is absolutely essential to building a predictable business

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The #TomFerryShow is here to help real estate professional stay ahead of the curve to always be innovating, changing, adjusting, staying as relevant as possible with the very best tools, the right-now strategies, and the things that are working today for rock star agents!

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You are advised that any Information provided on this podcast is not legal advice. Ferry International assumes no responsibility for consequences resulting from the use of the Information. Some of the Information may be outdated or not consistent with current law.

[LaCroixCreative]

This isn't just how people fail at real estate... this is how ALL new business owners fail! These points are so spot on. Thank you, Tom!

[MD-jfen]

The most honest and genuine advice for a Real Estate agent. How I wished I learnt this when I was a new agent. Never too late.

[CountingCnotes]

I’m literally 17 telling everyone I want to be an agent after high school hopefully I get ahead

[christinestafford]

You are the reason that I quit my career of 30yrs and have jumped into Real Estate! I just signed today with a broker. I have studied all of your videos for a year, and knew this is what I wanted to do!! Thanks for Inspiring me.

[sku]

"Success is a series of failures", my fav. saying

[deserthomesalesgroup]

Nobody gets on the team without watching this video....I've never heard this described better!

[ramehrer]

As a retired business owner going into RE for the first time I found this to be a really excellent show. I will be watching his other videos daily as apart of my DAILY SCHEDULE!
Thanks Tom

[ZapMartin]

This video is a new REQUIREMENT and Pre-Requisite to join the Martin Group Real Estate Team in San Diego!!! I love this.

[zachariah]

all the money is made before 9am and after 5pm and on the weekends'

[mediastandfilms]

1. Interested vs. committed
2. Not Strategic
3. Fear of mistakes /desire to look good
4. No (or wrong) role model
5. The gas station is open for one hour, one day a week
6. Monday to Friday, 9-6 mentality
7. No sales swagger (not learning sales and marketing)
8. No goal: Broken into the numbers that get measured
9. Poor schedule, or worse routines
10. Lack of financial management

[Fl-Pride]

I literally am just starting in the real estate world. I love your no-nonsense no sugarcoating approach. Just great information! You got yourself a new subscriber👍🏼

[carolannbarr]

Amen! I am an agent trainer/mentor and this is SO TRUE; the vast majority of people get into this business with completely unrealistic expectations of what it really takes to be successful. Sure you can "be your own boss" and "make your own hours"--as soon as you start acting like the CEO of your own company and putting in that kind of time and effort. You are going to work nights, weekends, holidays and be on call when your clients need you. You need a business plan, a marketing plan, a detailed budget; formal goals and strategies for attaining those goals and a set schedule that will facilitate those goals. You need to learn and understand a lot about real estate, building, mortgages and financing, inspections, contracts, negotiating, dealing with difficult people, appraisals, title work and the list goes on and on. EDUCATION is paramount in this industry! Take EVERY opportunity to learn and put yourself into situations to apply the learning to the real world. Think and act outside the box. If you can't cold-call people, knock on doors, talk to strangers, keep calm when everyone around you is hysterical and understand how to be an active listener this is NOT the career for you. Less than 10% of brand new agents ever renew their licenses after the first issue--make sure you know what your are truly getting into before taking the plunge--it's cold and wet and you have to swim with sharks but it can be a fabulous career for the right person. If you have what it takes--best of luck to you, you'll love it!

[donbuyshousescash]

Great Video Tom. It gives you a different mindset because people make it seem like Real estate is easy.

[buddfoxx]

10 nuggets of gold to be watch/listen to twice a day by anyone who isn't where they want to be and once a day by those that need to remind themselves what they must keep doing to stay on top. Awesome content and delivery Tom Ferry style!

[theladridoteam]

A MUST SEE for all Newer Agents! Should serve as a great reminder for experienced agents as well.... Awesome Job Tom!

[benlongren]

Im 15 and i just watched this, love the mindset he has, dreaming big!

[stella_blu]

Straight forward content for aggressive goal oriented “whatever it takes” willing mind set people, love it. Starting my career in this industry coming out of the law enforcement. Thank you 🙏

[xkillbilly]

Tom. I’ve been scoping out the content on the page over the past few days. Currently 22 years old, worked in Retail Management the past two years, looking to step away, form a business, and move forward with entrepreneurship. Nervous but I feel that this channel can provide me with the knowledge and tools I need to be successful. Thank you

[TomFerry]

Thanks for watching this week's #TomFerryShow. As always, we're trying to improve the quality of our content. Let me know your thoughts on this episode or what topics you want to learn more about! And make sure you *share this video* with someone who needs to see it.

[brianhouting]

I am going to take the Real Estate test and I am really wanting to sell homes.
So I want to pickup and learn as much as I can before I go out in the field to sell.
I sold vacuum cleaners back in the 70's door to door and was making about $600.00 a week. and sold cars making about $1000.00 a week in the 80's.
Both was on a commission base. I was taught by my first sales manager what makes a great sales person is by thinking that you have my money in your pocket. And I need to talk you into giving back. Everything you said in this video really helped me. Thank you. I am trying to learn the right way to sell homes by people like you sir.