Real estate agents : Tell me everything

Love real estate, and seems like a job I would enjoy. Anyone have success? I know it takes some time to build a reputation and you need to work weekends. 

Watch Tom Panos on youtube

It’s an incredible career, it takes time to get going because you are a new business essentially. Go in with a good attitude and you will do fine.

dont take things personally and you can have a long rewarding career.

I love it, but something like 90% of realtors don’t make it passed their first year. You will not make good money your first year. You will be spending more than you make your first few months. You need either a bit of savings to invest in getting started, or I also know realtors who just took out a loan to live off of their first year.

I think a lot of people also get into it thinking they will make a quick buck or do it part time and earn extra money but it’s very much an all or nothing, feast or famine industry. There’s a small minority of realtors making the majority of the sales. If you don’t fully commit to it, you will probably end up one of the 90% I mentioned.

And yes, you’re on call 100% of the time. Your clients work during the day, so you’re doing a lot of showing on evenings and weekends.

That being said, you’re your own boss so you make your own schedule (although it’s often dictated to you based on your clients needs if you want to be successful). And you can definitely make a ton of money doing it (not sure where you live so can’t speak to your local market, but in general).

Having a big social circle and being well known locally is a HUGE benefit when starting out, as most of your initial sales will be people you already know.

Most of them are gut maggots.

1 Like
CommanderMarkus -

I love it, but something like 90% of realtors don’t make it passed their first year. You will not make good money your first year. You will be spending more than you make your first few months. You need either a bit of savings to invest in getting started, or I also know realtors who just took out a loan to live off of their first year.

I think a lot of people also get into it thinking they will make a quick buck or do it part time and earn extra money but it’s very much an all or nothing, feast or famine industry. There’s a small minority of realtors making the majority of the sales. If you don’t fully commit to it, you will probably end up one of the 90% I mentioned.

And yes, you’re on call 100% of the time. Your clients work during the day, so you’re doing a lot of showing on evenings and weekends.

That being said, you’re your own boss so you make your own schedule (although it’s often dictated to you based on your clients needs if you want to be successful). And you can definitely make a ton of money doing it (not sure where you live so can’t speak to your local market, but in general).

Having a big social circle and being well known locally is a HUGE benefit when starting out, as most of your initial sales will be people you already know.

?this for sure.

also have a business plan and systems. Your number one job will be to lead generate period. Don’t get caught up in your sign , business cards etc. Call up people in your sphere and ask for advice on your new career. It doesn’t come off salesman driven.

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Disregard the question mark above- meant to put 100

It's just like professional photographers

There are only a few that are really true professionals then you have a bunch of amauter level fucks trying to make it as a hobby or not really all the way into it and have someone supporting them while they make 0 money but they'll gladly annoy the fuck out of you and any friends who might need a photoshoot or to sell a house.

1 Like
CommanderMarkus -

I love it, but something like 90% of realtors don’t make it passed their first year. You will not make good money your first year. You will be spending more than you make your first few months. You need either a bit of savings to invest in getting started, or I also know realtors who just took out a loan to live off of their first year.

I think a lot of people also get into it thinking they will make a quick buck or do it part time and earn extra money but it’s very much an all or nothing, feast or famine industry. There’s a small minority of realtors making the majority of the sales. If you don’t fully commit to it, you will probably end up one of the 90% I mentioned.

And yes, you’re on call 100% of the time. Your clients work during the day, so you’re doing a lot of showing on evenings and weekends.

That being said, you’re your own boss so you make your own schedule (although it’s often dictated to you based on your clients needs if you want to be successful). And you can definitely make a ton of money doing it (not sure where you live so can’t speak to your local market, but in general).

Having a big social circle and being well known locally is a HUGE benefit when starting out, as most of your initial sales will be people you already know.

What are you spending on ? 

RICKYB -
CommanderMarkus -

I love it, but something like 90% of realtors don’t make it passed their first year. You will not make good money your first year. You will be spending more than you make your first few months. You need either a bit of savings to invest in getting started, or I also know realtors who just took out a loan to live off of their first year.

I think a lot of people also get into it thinking they will make a quick buck or do it part time and earn extra money but it’s very much an all or nothing, feast or famine industry. There’s a small minority of realtors making the majority of the sales. If you don’t fully commit to it, you will probably end up one of the 90% I mentioned.

And yes, you’re on call 100% of the time. Your clients work during the day, so you’re doing a lot of showing on evenings and weekends.

That being said, you’re your own boss so you make your own schedule (although it’s often dictated to you based on your clients needs if you want to be successful). And you can definitely make a ton of money doing it (not sure where you live so can’t speak to your local market, but in general).

Having a big social circle and being well known locally is a HUGE benefit when starting out, as most of your initial sales will be people you already know.

?this for sure.

also have a business plan and systems. Your number one job will be to lead generate period. Don’t get caught up in your sign , business cards etc. Call up people in your sphere and ask for advice on your new career. It doesn’t come off salesman driven.

How does asking advice lead to business generation? 

Have you ever seen a used car salesman and thought, hmmm that looks like a career for me, except for houses?

Have you ever wanted to be a telemarketer, but for houses?

If you answered yes to either or both of those questions, then real estate might be for you!

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Dying career of you ask me. With the increasing ability for buyers to search and browse online, and the potential for buyers and sellers to connect directly, the benefit of employing a realtor will continue to diminish. The only reason they still exist is because there is no downside for the buyer to use an agent, thus that requires the sellers to be available to agents. But as soon as that is circumvented, traditional realtors will be a thing of the past.

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Road Warrior Fin - 

It's just like professional photographers

There are only a few that are really true professionals then you have a bunch of amauter level fucks trying to make it as a hobby or not really all the way into it and have someone supporting them while they make 0 money but they'll gladly annoy the fuck out of you and any friends who might need a photoshoot or to sell a house.

Haha came here to post something like this, but you nailed it.  A good, knowledgable realtor is valuable and hard to come by... most are not good or knowledgable.

I'm not a realtor but work with them on a daily basis. In Arizona we're the most saturated market with licensed agents. 10% of agents do about 90% of the business.  Here about 80% of agents won't renew at their first 2 year renewal. In my opinion most people get in to real estate assuming it will be easy because they think all their friends and family will use and refer them. The problem with that line of thinking is your friends and family probably know at least a half a dozen realtors with proven experience. 

If you hustle and grind and have a marketing plan with a unique selling proposition and people like you,  you can make a ton of money. 

Moose09000 -
RICKYB -
CommanderMarkus -

I love it, but something like 90% of realtors don’t make it passed their first year. You will not make good money your first year. You will be spending more than you make your first few months. You need either a bit of savings to invest in getting started, or I also know realtors who just took out a loan to live off of their first year.

I think a lot of people also get into it thinking they will make a quick buck or do it part time and earn extra money but it’s very much an all or nothing, feast or famine industry. There’s a small minority of realtors making the majority of the sales. If you don’t fully commit to it, you will probably end up one of the 90% I mentioned.

And yes, you’re on call 100% of the time. Your clients work during the day, so you’re doing a lot of showing on evenings and weekends.

That being said, you’re your own boss so you make your own schedule (although it’s often dictated to you based on your clients needs if you want to be successful). And you can definitely make a ton of money doing it (not sure where you live so can’t speak to your local market, but in general).

Having a big social circle and being well known locally is a HUGE benefit when starting out, as most of your initial sales will be people you already know.

?this for sure.

also have a business plan and systems. Your number one job will be to lead generate period. Don’t get caught up in your sign , business cards etc. Call up people in your sphere and ask for advice on your new career. It doesn’t come off salesman driven.

How does asking advice lead to business generation? 

It’s a more professional way of tour letting your close network know your becoming an agent. Start now , even before you finish the courses

Must be DTF certified 

my wife is her own broker in charge (BIC). It’s become more difficult because of covid, can’t really do open houses, tougher to show, very few people willing to sell right now, but many wanting to buy.

Biggest challenge is vetting people politley. You’ll have people calling saying they want a 4 bedroom, 2 1/2 bath place downtown with land and you find out their budget is $100,000. People asking you to wave your comission for them, expecting you to do everything for them can be troublesome.

Has someone above said lead generation is the key. That’s where my wife is hurting, open houses were her big lead generator.

Stay in touch with all past clients, my wife has had several people she helped buy a home for years ago respond to an email or something she sent them saying, they looking to move again, or their neighbor is selling and they just gave them her name.

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Relevant to my inferests. Just started the education process. TME

If you’re just starting out try to get with keller williams, they seem to help train agents real well. Many firms don’t help them at all, hence the above post that 90% don’t make it.

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I've been doing mortgages, specifically VA mortgages lately. Its a great side hustle