This research examines the productivity of real estate agents that acquire and keep their license for less than two years.  As the laws of supply and demand dictate, when there are excess profits (as during a housing boom) more individuals move into the profession.  As more individuals obtain their licenses, profits dissipate.  Many individuals pursuit a real estate license in search of riches rather than a career and as such may not have fully contemplated the linkage between the economy and the housing market. Those that get their real estate agent’s license and maintain it for less than two years (ROOKIES) sold properties for approximately 10% less and endured a more extended marketing duration than more experienced agents.  On the other end of experience, agents that have held their licenses for 10 or more years earn almost a 2% premium relative to their less experienced counterparts as well as a more reduced marketing duration.  Finally, while the ROOKIE agent does not significantly influence the probability of a sale, the more experienced VETERAN agent does increase the probability of a successful transaction.   These findings provide evidence that individuals that pursue real estate as a career during boom periods due to the potential income are more likely to exit the profession as quickly as they got into it and to significantly underperform their more experienced counterparts.