by Ben Hess, Managing Director, ThirdPool Recruiting
I spent some time with a friend last weekend who’s in the middle of troubled real estate transaction.
He’s the seller, and the buyer’s agent made several major errors executing his transaction.
I asked my friend what went wrong.Â
The buyer’s agent is incompetent. He’s only completed one transaction per year for the last three years. My agent had to walk him through most of the steps, and he’s still screwing it up!
Low transaction volume contributes to the real estate industry’s poor customer service ratings.
The Redfin researchers found the median number of transactions to be 7 – 9 per agent per year.
Also, nearly half of agents work other jobs to supplement their real estate income.
Glenn Kelman commented,
It’s still one of our industry’s great challenges to bring the productivity of the average agent up, so that each agent earns more, and the consumer gets an agent with more transactional experience.
It’s impossible to get really good at something without repetition and experience.
As you recruit, set the expectation that focus and transaction volume are necessary ingredients to transform a new agent into a professional.
