The real estate industry is a highly competitive industry
where 85 percent of the sales are done by only 15 percent of the real estate
agents. The real estate industry is highly lucrative and has had a large influx
of agents in the last couple of years. According
to Toronto Real Estate Board, the total population of real estate agents has
increased by 60% in the past 5 years. As the competition between agents has
increased, lot of agents are asking "how can I survive and thrive in this
highly competitive industry" especially in the early stages of their
careers.
While the training from OREA is the bare minimum required to
practise as a real estate agent, it is far from enough to be successful in this
highly competitive industry. Top producers in this industry stress the
importance of experience as a key factor in becoming successful in the
industry. Unfortunately it takes years
to accumulate experience in order to be successful. With the competitive nature
of the industry lot of new agents might not be able to get a chance to survive long
enough in the industry to get that experience.
Another aspect of the industry being that experience alone
is not a sure key to success. Lot of agents have been practising for 10, 20 or
more years with mediocre results. You might keep doing the wrong things over
and over again and get the wrong kind of experience.
