1,085,977
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
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Elliott
Burlington Township, NJ
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Pete Xavier
Pacific Palisades, CA
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Brenda Mayette
Glenville, NY
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John Juarez
Fremont, CA
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Katina Hargrove 352-55...
Eustis, FL
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
5,221,686
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.
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Doug Dawes
Topsfield, MA
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Joan Cox
Denver, CO
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Lyn Sims
Schaumburg, IL
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Pete Xavier
Pacific Palisades, CA
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Brenda Mayette
Glenville, NY
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John Juarez
Fremont, CA
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Katina Hargrove 352-55...
Eustis, FL
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
1,594,214
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.
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Ailina Nelson
La Jolla, CA
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Pete Xavier
Pacific Palisades, CA
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Brenda Mayette
Glenville, NY
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Thomas J. Nelson, REAL...
La Jolla, CA
2,467,023
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.
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Doug Dawes
Topsfield, MA
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Joan Cox
Denver, CO
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Katina Hargrove 352-55...
Eustis, FL
3,204,421
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.
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Doug Dawes
Topsfield, MA
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Brenda Mayette
Glenville, NY
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
667,111
not sure of the EXACT percentage but less than 20%.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,104,349
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.
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
507,310
Kukun--240-483-3649 Franklin Carroll
My guess is 2%:) Katina
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Doug Dawes
Topsfield, MA
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Joan Cox
Denver, CO
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Bob "RealMan" Timm
Minot, ND
3,396,244
I am with Miss Nina Hollander, Broker
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
1,640,113
% 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:
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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.
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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.
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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.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Pete Xavier
Pacific Palisades, CA
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Inna Ivchenko
Encino, CA
1,399,328
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.
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Doug Dawes
Topsfield, MA
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Joan Cox
Denver, CO
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
2,820,370
I would give it a low rating
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Doug Dawes
Topsfield, MA
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Richie Alan Naggar
Riverside, CA
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
933,389
27% would be my guess.
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Bob "RealMan" Timm
Minot, ND
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Kukun--240-483-3649 Fr...
Menlo Park, CA
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Doug Dawes
Topsfield, MA
5,392,842
I would say very low for most except maybe the top 10% or less of agents who have a high percentage retention rate.
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Bob "RealMan" Timm
Minot, ND
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Michael Elliott
Burlington Township, NJ
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Doug Dawes
Topsfield, MA
445,788
Low.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Candice A. Donofrio
Fort Mohave, AZ
1,262,695
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.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
1,234,335
15%??? IDK. I took the question at face value, meaning all agents
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Joan Cox
Denver, CO
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Bob "RealMan" Timm
Minot, ND
5,947,141
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%.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
3,221,461
Repeats are at 100%.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
270,929
35% ? I had breakfast with an old friend whose family has done 7 transactions with me. I should probably have them over for Christmas.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
875,367
6,588,769
360,064
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.
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Kukun--240-483-3649 Fr...
Menlo Park, CA
2,234,665
779,539