You SURE you want to make this leap?
A lot of folks get into real estate because it “looks easy.” They think that they just get the fun of walking thru houses with their friends, write up some paperwork and voila – you are making a fortune using just your phone.
Let me dispel that myth right now.
I crossed over to Real Estate at a time when I was already successful in another sales field. I was at the top of my game. I thought I had nothing to learn and it would be a breeze. <cue laughter>
Per NAR (the National Association of Realtors) The median gross income of REALTORS® was $44,090 in 2016, an increase from $39,200 in 2015. The average agent worked 40 hours a week. <more laughter>
So the question is, do you want to be average?
Or do you want to make 6 figures or more?
There are 5 things things I wish I had known, REALLY known, before I got into selling Real Estate. I hope this helps you with your decision, and your planning.
- Map out a plan. A plan to market yourself, a plan for which broker you want to affiliate yourself with, and a plan for your schedule. Be specific and have goals right out of the gate. And commit to those goals.
- Have at least 6 months of income saved up before you jump. Seriously. The delays that can happen, the lag time between contract writing and actually getting paid, and the splits (variable fees you pay your broker) will come as a shock, you need to have some cash to carry you thru until you hit your stride and fill your pipeline.
- Talk to people that are currently successful in real estate and have been for some time; take someone to coffee, make appointments with a wide variety of brokers, really get a feel for the people part of this business. Ask for advice and strategies.
- Be prepared to market YOU, the person. You need to be able to tell people, with no false modesty, why they should hire you to help them sell or buy a home. YOU have to sell YOU, every time, over and over again. Practice it. Go to networking events, talk about your exciting new career everywhere you go. Literally everywhere, church, your kid’s soccer practice, the grocery store. Talk to everyone
- Know that this business and your success is all up to you. All of it. Your hustle, your willingness to get out of the comfort zone, your reputation, your grind. Just you. So if you succeed, you will succeed by your own efforts. So too, if you are one of the many agents who wash out in the first year (conventional wisdom in the real estate world says that 85% of agents will give up during their first year, and that 97% will no longer be agents in 3 years time) you will fail by your own efforts or lack thereof as well.
Still want to do this?
Then get ready and good luck to you! This is a job that can positively impact your community and a career that is never the same day twice. If you are willing to work for it, you can have it all!