New Agent Advice Needed

7 Replies

Hello everyone!

I am a newbie on BP and also in real estate. I am starting my real estate course next week and I would love some advice.

What do you recommend I do before, during and after classes start? What is the best way to market myself? How do I look for the best place or person to work with? How do I build a portfolio? How does pay work? Should I start part time? I just need and would be grateful with all the advice, recommendations, pros and cons, do’s and dont’s you can give me! I am very excited and eager to start and excel in this industry, so any and all advice is appreciated!

Also I am in the North Jersey area close to NYC and all major highways. Any tips for a new agent in this area? Is another area recommended?

Thank you for reading my post and helping a prospective new agent like myself! :)

@Yisell Perez congrats on getting started with your license! While you are in your classes I would recommend that you send a letter or card to everyone in your sphere of influence letting them know that you are becoming a realtor. I also would recommend that you start reading good books on how to get started. One of my favorites is by a fellow BP agent, @Mark Ferguson . His book, How to Make it Big as a Real Estate Agent, was the best book I read and was easily the best $12 I spent when I was getting started. 

My mother in law was also an agent in the area you mentioned for 25 years. If you want, I can put you in touch with her to get her take on things. I would think the NJ area would be an excellent area to work as the housing prices are high which should equal strong commissions. 

Decide if it's really something you are interested in and NOT just for the money. So many see the money and think they want to do it.

I have been doing commercial for about 16 years. Residential cane be lots of nights and weekends with endless calls and disruptions to your family especially starting out.

You might decide if you have money already that you just want to be an investor.

Originally posted by @John Warren :

@Yisell Perez congrats on getting started with your license! While you are in your classes I would recommend that you send a letter or card to everyone in your sphere of influence letting them know that you are becoming a realtor. I also would recommend that you start reading good books on how to get started. One of my favorites is by a fellow BP agent, @Mark Ferguson. His book, How to Make it Big as a Real Estate Agent, was the best book I read and was easily the best $12 I spent when I was getting started. 

My mother in law was also an agent in the area you mentioned for 25 years. If you want, I can put you in touch with her to get her take on things. I would think the NJ area would be an excellent area to work as the housing prices are high which should equal strong commissions. 

 Thanks John! Always nice to hear the book helps people! 

@Mark Ferguson @John Warren thanks for the book rec john, just purchased.

@Yisell Perez I think one thing to be prepared for is the lack of income in the first year. as you grow your business you will get more deal flow, but in the beginning a lot of people expect to make a lot of money and dont. I think I read that 87% of new agents quit within the first 3 years or something along those lines. Always be lead generating. One great month of commissions and no lead gen makes the next two months pretty dry. 

@Yisell Perez

Welcome to BP!!!

I suggest try attending meetups there are many in our area. You will be able to talk to other Realtors when your start attending and they might be able to point you on the right direction. It's a hard profession and as other have mentioned be prepare when starting to have a long period of time without seeing an income. Be familiar w the fees involved, there will be revolving fees in keeping your license, MLS etc. The ones that are able to succeed do it full time and I've noticed have a support system when starting out. They live w family to keep cost low or rely on their partners income until they start getting sales.. You typically get paid by commission and even for the experience realtors they have good and bad months..

@Yisell Perez there is a lot of great advice on here. As @Joel Owens mentioned, there are a lot of nights and weekends involved. That isn't something I love, but it somewhat comes with the territory. Also, as @Jeff Brower mentioned the first year can be pretty lean. I tell a lot of new agents to join a team when they start out if they need the income. I enjoyed being an investor first as I have had steady income from my buildings throughout the process. Nothing helps those lean months in January, February and March as much as dividend checks from your buildings!