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Rainmaker
1,085,977
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The correct question is:

What's the ratio of consumers who SAY they will use their agent again in the afterglow of relief, to those who actually seek out and use that agent in half a dozen years +/-?

I'm going with 5/2

Jul 08, 2024 10:54 AM
Rainmaker
5,221,686
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have no clue and have little interest in other agents. 85-90% of my business has been repeat and referral from past clients for decades... so my retention is quite high. I've worked with some clients for decades.

Jul 08, 2024 10:46 AM
Rainmaker
1,594,214
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

Retention? 😂 The lower 85% have no retention. 85% of the agents out there have 0 retention because they "hit it and quit it". Mine is:  59% currently according to my CRM. What plays into that not being higher the last 5 years (is my age demographics, military and San Diego being a revolving door) which is subject to death, divorce with no repurchases, relocating to another state and a certain % are never going to be loyal to full service /full fee agents, just too cheap. 96% of my business is by referral though.

Average retention is 35% for most agents that might consistently stay in touch. The lost art of staying in touch is why so many fail to retain.

Jul 08, 2024 06:16 PM
Rainmaker
2,467,023
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Good agents retain 80% or more. Those who are in it for the "easy money' may retain 5 to 10% if they remain in business for 5 years.

Jul 08, 2024 11:48 AM
Ambassador
3,204,421
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Nina has the right answer and my retention is high.  I keep in touch, I make friends with most.  I see lots socially.  I expect 10% is the sad average.

Jul 08, 2024 01:28 PM
Rainmaker
667,111
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

not sure of the EXACT percentage but less than 20%.

Jul 08, 2024 12:29 PM
Ambassador
2,104,349
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home again, home again...

I can assure you that the number is very low. 

I can't imagine that a large percentage of buyers or sellers even remember their Realtor's name, 10 years down the line.

Jul 08, 2024 12:24 PM
Rainmaker
507,310
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Kukun--240-483-3649 Franklin Carroll 

My guess is 2%:) Katina

Jul 08, 2024 12:00 PM
Ambassador
3,396,244
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

I am with Miss Nina Hollander, Broker 

Jul 08, 2024 11:20 AM
Rainmaker
1,640,113
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate

% of failure is high as in many other self employed fields and depends on many factors/ variables .

*I was curious to ask AI this question and here what I got: 

Exact figures can be challenging to pinpoint precisely because failure rates can vary depending on the source, methodology, and specific market conditions. However, several studies and industry reports provide rough estimates:

  1. First-Year Failure Rate: Estimates suggest that around 50% to 87% of new real estate agents may fail within their first year. This wide range reflects the variability in local market conditions, individual preparedness, and other factors.

  2. Second-Year Survival: For those who survive their first year, the failure rate in the second year remains high but typically decreases. Some sources estimate that 70% to 80% of new agents may leave the industry within their first two years.

  3. Long-Term Success: Beyond the initial years, the failure rate continues to decline as agents establish themselves, build a client base, and gain experience. Agents who persist often find greater stability and success over time.

It's important to note that these percentages are not absolute and can vary based on regional economic conditions, individual effort, brokerage support, and other factors. Success in real estate often depends on a combination of factors including perseverance, market knowledge, effective networking, and ongoing professional development.

Jul 08, 2024 07:34 PM
Rainmaker
1,399,328
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Most real estate clients say they would be happy to use their past agent.

Many do not, mostly because the agent does a poor job of staying in touch and is eventually forgotten.

Jul 08, 2024 01:50 PM
Rainmaker
2,820,370
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I would give it a low rating

Jul 08, 2024 12:42 PM
Rainmaker
933,389
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

27% would be my guess. 

Jul 09, 2024 09:41 AM
Rainmaker
5,392,842
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

I would say very low for most except maybe the top 10% or less of agents who have a high percentage retention rate.

Jul 09, 2024 03:38 AM
Rainer
445,788
J.R. Schloemer
Kentucky Select Properties - Louisville, KY

Low.

Jul 08, 2024 06:44 PM
Rainmaker
1,262,695
Peter Mohylsky, Beach Broker
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I need more information before I can answer.  I keep my clients for life.  others not so sure.  and i am not sure if a google search would be all that accurate when you filter the results for all the different variables.  

Jul 08, 2024 12:31 PM
Rainmaker
1,234,335
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

15%??? IDK. I took the question at face value, meaning all agents

Jul 09, 2024 11:48 AM
Rainmaker
5,947,141
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I think many of the newbies have no clue what program to use to keep track of their client base, so do not stay in touch.   Mine is very high, I stay in touch with my clients, but think the average is probably 50%.

Jul 09, 2024 11:01 AM
Ambassador
3,221,461
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Repeats are at 100%.

Jul 09, 2024 10:05 AM
Rainmaker
270,929
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

35%  ?   I had breakfast with an old friend whose family has done 7 transactions with me.  I should probably have them over for Christmas. 

Jul 09, 2024 07:53 AM
Rainmaker
875,367
Gwen Fowler SC Lakes & Mountains 864-710-4518
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

5%

Jul 09, 2024 05:48 AM
Ambassador
6,588,769
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

80%

Jul 09, 2024 02:30 AM
Rainer
360,064
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

I would guess it's somewhere in the 10-20% range across the industry. 8 1/2 years in the business- and I have started to see my referral and repeat business grow. Referrals come easily, while repeat business is slowing increasing- likely because the purchase process is so long here. I have one buyer right now that has been in contract since December, and this is longer than typical- but not too far from the norms.

Jul 14, 2024 11:14 PM
Rainmaker
2,234,665
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

18%

Jul 09, 2024 12:37 PM
Rainmaker
779,539
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

17% how did i do?

Jul 16, 2024 12:08 PM