How much does the experience of a real estate agent worth?
Can you put a price
on experience? In real estate, you can, based on a article published
by the Wall Street Journal and it is about $25,000 for the average house.
Experience, knowledge, vision and attitude are
the main success factors in any business and real estate is not an
exception.
Experience comes with dealing with many
different situations and learning from each step along. The more
different and harder situation, the more experience
obtained. Though experience in most cases is directly related to
the number of years in that business, but is not necessarily true all
the time. For example, somebody that has done the same thing over and over the
same way for 30 years could have less experience than a new person
who has been in the business for a couple of years but has dealt
with many un-usual, different and hard situations.
How much an experience worth in a deal?
It depends on the type of the deal, difficulty of the case &
conditions, size of the deal, other side’s agent/attorney/etc. For
example, suing a large company could involve and demand Millions of
dollars for damages, where as in other simple individual cases might
be a couple of ten thousand dollars.
Now the question is can you put a price on
experience? And if the answer is yes,
How much does the experience of a real estate agent worth?
About three weeks ago, on September 12th 2013, The Wall Street
Journal published an article that showed based on a study from
Longwood University, the price of
real estate experience is about $25,000 for the average house. The
study was based on 10,065 real estate listings in a mid-Atlantic MLS
(multiple-listing service) from March 1999 to July 2009. Please see
the entire article at:
http://online.wsj.com/article/SB10001424127887324123004579057500395585922.html
OR
http://www.texasfivestarrealty.com/documents/Real_Estate_Experience_Price_25K.pdf
Veteran real-estate
agents vastly outsell their rookie counterparts, according to the
study
That is why homebuyers and sellers need experienced real estate
agents or REALTORS®!
