I read somewhere that the average person is friends with 5 real estate agents. If that’s true, the good news is you'll have 5 people you know and trust who can help you buy or sell your house. The bad news is you can really only work with one of them.
The other bad news is that most newbies don't last very long in the business. The attrition rate is high, with 87% dropping out in the first 5 years. And of the agents currently working, most of the real estate “business” that you see around you (an estimated 80%) is being conducted by the top 20% of the agents in the area.
Listing with a friend can be a high-pressured situation, especially if he or she is new to the business. Of course, you want to help them but the truth is, they are learning the ropes on your largest financial asset – and that’s something you need to be aware of going in. Because an agent’s “education” can hit a seller in their wallet.
We’ve all gotten the call from someone we adore: “Hey, I just got my real estate license!” But it’s still wise to ask ourselves: Of the 5 real estate agents you may know, who's still learning on a the job? Who's getting ready to drop out because it just isn’t as easy as it looks? Who's in the 80 percent, struggling to put together a few deals a year? Who's selling real estate only on weekends and after their day job on Tuesdays?
I can tell you from my 13 years experience and over 200 homes I’ve sold, the more you’ve “seen” in real estate deals, the better equipped you are to service your clients.