20yr old Just Got My Real Estate License - Need some advice + tips for lead gen.

Real Estate Broker · Elmhurst, IL · Member since 2023 · 3 posts · 2 votes

I would be very grateful if anyone could help me with some advice and tips on how to begin on starting as a real estate agent in Illinois. I am really excited to start this journey as I have already watched a lot of podcasts from BiggerPockets, I have almost finished reading the book The Millionaire Real Estate Agent from Gary Keller and I have went on and talked to 2 brokerages and 3-4 professionals familiar with the real estate industry. My main problem is that I feel like I do not have any people that I know who are going to purchase a home in the near future because my network is mostly contained with other 20 year olds as well. I'll take any advice, I am 100% ready to start and very optimistic about the future!

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Andrew FreedBusiness Member

Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes

@Eric Tosoonyan - Try calling expired listings in your area and see if you can scoop up some listings. As an agent, it is easier to make large sums of money as a listing agent than buyers agent. Most agents start off as buyers agent to gain their stripes then move to listing agent and evenutally broker. If you can skip the buyers agent stage and go directly to listing agent, being agent will be much more lucrative.

[email protected]781-964-3200 Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money

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Joe Norman
Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
3y
Find a strong local team that provides mentorship, training, and leads. It will NOT be easy to get this started but well worth it if you put the effort in.
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Andrew FreedBusiness Member
Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
3y
@Eric Tosoonyan - Try calling expired listings in your area and see if you can scoop up some listings. As an agent, it is easier to make large sums of money as a listing agent than buyers agent. Most agents start off as buyers agent to gain their stripes then move to listing agent and evenutally broker. If you can skip the buyers agent stage and go directly to listing agent, being agent will be much more lucrative.
[email protected]781-964-3200 Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
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Paul De Luca
Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
3y
Quote from @Eric Tosoonyan:

I would be very grateful if anyone could help me with some advice and tips on how to begin on starting as a real estate agent in Illinois. I am really excited to start this journey as I have already watched a lot of podcasts from BiggerPockets, I have almost finished reading the book The Millionaire Real Estate Agent from Gary Keller and I have went on and talked to 2 brokerages and 3-4 professionals familiar with the real estate industry. My main problem is that I feel like I do not have any people that I know who are going to purchase a home in the near future because my network is mostly contained with other 20 year olds as well. I'll take any advice, I am 100% ready to start and very optimistic about the future!

Join a brokerage and team that is a good fit for you & your goals. Learn from experienced agents and focus on what you want your niche to be (SFH, multi-family, condos/townhomes, luxury, investment property, specific location, etc.) Try a bunch of different lead generation methods and then focus on the ones that make the most sense for your target demographic (who is your ideal client?).

Never stop investing in your education to improve your skillset and be a go-giver.
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Christopher Jason LloydBusiness Member
Real Estate Broker · Newport News, VA · Member since 2020 · 95 posts · 83 votes
3y
Identify a niche and establish your marketing method. Stick to it hard and MARKET MARKET MARKET. If you don't have a social media for your business yet, start it. Start building your brand. Provide educational content and post every property you get under contract and sold. Show people you are in the business, know what you are talking about and are relatable. Eventually you want anyone that follows you to associate your name with real estate. Call expireds, FSBOs and join a team that provides leads. If you have money to spend on leads, I personally have had success and approximately a 500% return on BP Featured Agent leads. These will mostly be buyers and as others have said, you will want to eventually focus on listings.
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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
3y
Quote from @Eric Tosoonyan:

I would be very grateful if anyone could help me with some advice and tips on how to begin on starting as a real estate agent in Illinois. I am really excited to start this journey as I have already watched a lot of podcasts from BiggerPockets, I have almost finished reading the book The Millionaire Real Estate Agent from Gary Keller and I have went on and talked to 2 brokerages and 3-4 professionals familiar with the real estate industry. My main problem is that I feel like I do not have any people that I know who are going to purchase a home in the near future because my network is mostly contained with other 20 year olds as well. I'll take any advice, I am 100% ready to start and very optimistic about the future!

Hello Eric!
I'd echo the great advice on here so far... call expireds, join a team, continue educating yourself, build your brand.
A couple of things I'd add:
1. Keep reading: MREA is a great book! once you're done, check out the hyper local, hyper fast agent by Dan Lesniak
2. Contact EVERYONE in your sphere of influence (SOI)/personal circle and STAY in consistent contact with them: This includes the 20 year olds who aren't buying houses. If you wait until they're 25-30, you may be too late. I've had several friends and family members purchase/sell property with other agents b/c I just wasn't top of mind.

Furthermore, the 20 year olds in your circle or SOI have aunts, uncles, cousins, siblings, parents, in-laws, neighbors, coworkers, and friends who will need an agent at some point. Your 20-yr old circle can be your biggest referral sources. I have a close friend who I've known for over 25 years who has NEVER bought/sold with my but has referred me 8 deals and dozens other contacts in the last 6 years.
3. Engage on social media. Post regularly but more importantly, engage! Like, comment and DM your online following. They will see more of your content but most importantly, they will have you in mind for Real Estate because they're so used to seeing your name and face.
Hope this helps and all the best to you on your journey!
Abel
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Benjamin Carver
Real Estate Agent · Raleigh, NC · Member since 2019 · 316 posts · 290 votes
3y
Social media is a big tactic for me that I'm growing... long-term it's a way to get more leads than you can handle at a cost significantly lower than buying "warm" leads or anything like that. It's also a way to stay in contact with past clients and SOI, which as they said above is super important. I joined a team that has been killing it in my area for years, led by agents who did 300+ transactions per year and have been in the game for 20-25 years. A lot to be said about not needing a huge paycheck the first year or two and prioritize failing, learning, mirroring, growing over money. Do the work and TRACK it. We aim for 20 connections a day. Cold calling, it takes 100-150 to get it. You can get to 20 by calling expireds, realty or zillow leads, people you found on BP, social, friends, etc. GO to a biggerpockets meetup if there's one near you. Get used to talking to people all day, making friends, and using a good CRM or at least a solid spreadsheet to track your lead follow-up cadence. Also, when you try to reach someone new, don't give up after a call or two. If you do cold-calling or buy leads you may very well need to call them 7 times and send 5 texts/emails before getting through, don't take it personal. Many of our clients come from months or evens years of nurturing by reaching consistently. Best of luck!
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Ke Nan Wang
Developer · St. Augustine, FL · Member since 2018 · 311 posts · 384 votes
3y
The biggest disadvantage you have is your age and I'm assuming you look and act like a 20 year old too. If you look and act way beyond your age then disregard what I just said.

So many advise here are your normal traditional real estate coaching advise but most people do not trust a 20 year old to handle their real estate asset unless you've already built a brand for yourself (not applicable) or they are really going out of their way to do you a favor. Opportunities like that is not something you can count on.

I would recommend first, greatly strengthen your David Green's defense pillar, meaning, live a very very lean lifestyle, every expense has to be a very conscious decision.

Then with a lean lifestyle, this allow you to work for a good team that can offer to teach/coach you lead gen and sales and you worry less about the commission split because you have less bill to pay. Your few years, do not worry about your income, value your education and building good relationship with people no matter where you go. Say yes to everything, show up with enthusiasm. When you become valuable to others and have a good network of people, you income will grow naturally.
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Justin Hammerle
Realtor · Providence, RI · Member since 2022 · 404 posts · 262 votes
3y
There is no easy way or shortcut to getting leads as an agent; Understand your market and the sources of leads like cold calling, direct mail, door knocking, and social media; choose one to focus on and don't give up.
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