What was you first year being an agent like?

Question

I am circling the idea of getting my license to be an agent in MI. Ive heard about 50/50 mix of good and bad. I was just wondering as a career if its something you recommend or do you regret spending the money?

Zach Sikes · Answer

@Josh B.

After my first year as an agent, I received a 1099 for $15,000.

In years 4 and 5, I sold about $15,000,000 in each year with an average commission of around 2.7% to 2.8%.

If you continue to work hard, believe, learn, and continually improve then the sky is the limit in this business.  Be patient and work hard.

Richard Ball · Answer

@Josh B.

I was an investor for 7 years before I got my license and I can tell you that it is mixed. You will have about 2,000 in yearly expenses so if you are not going to be active or be able to make that amount up with your license you may want to keep looking for a great Realtor. So far the biggest incentive for me to get my license is speed, a house came on the market last night, before anyone knew about it I scheduled a showing and if the house is in good shape I will have an offer in on it today. Even with a great Realtor you may not get that kind of speed, giving me the edge and great deals.

David Hunter · Answer

First year as an agent, eh?

Let's see... I started with a company and the broker said here's your desk and phone.  Had little training.  Didn't have a clue what I was doing.  Held open other agents' open houses.

Got three listings from people I knew.  Nothing ever sold.

After six months since I got my license I was out.  Just another statistic...

Then, 2.5 years later I got back into real estate and started working with a top producing agent.

It's a tough business.  It was worth it to be because of the experience.

Joel Owens · Answer

It's all about what you will be using it for.

I am the principal broker and I have clients with commercial real estate.

I have multiple buckets I focus on.

1. Direct client transactions

2. My own commercial investments I own directly and solely

3. Properties to do a syndicate on and be a sponsor for

I have been looking at owning some businesses also but do not like where the minimum wage level is rising too. Small business owners can't pay people 15 an hour and make a decent profit. It will push businesses to use robots to automate as much as possible. This should take away high insurance costs and reduce workers needed for the businesses.

First year in the R.E.  business was about 12 years ago. That year it took awhile to figure out what I liked and didn't like about R.E. I did residential back then and just didn't enjoy it at all.

I enjoy commercial so much that I see myself continue to do this well past typical retirement years.

Ross Greene · Answer

Hi Josh,

I feel it really depends what you do your first year? Join a well established team or brokerage? Have a mentor? Going 100% independent?

I Joined a well established team which is the entire brokerage of 5 people and I got very lucky with them. My broker is my mentor who I talk to every single day and any question I have during a transaction I am able to get her on the phone in minutes. I have been in the business 1 year 2 months and I have closed 22 transactions.

I am on here to start learning about investing as agents have the upper hand on this and should totally take advantage of investing.

Karl Krentzel · Answer

Great Question!

Unfortunately, my fingers are a bit tired, otherwise I would give you a very spirited answer.  Truth is... being an agent is the best thing.

The first year is hard.  But then it gets harder.

So hard in fact that you want to quit.

I personally recommend that anyone who is having a tough time in the 1st year or so  quit.  That way it saves us all a bunch of competition.

But if you can survive... keep hope alive and work hard... then you will be one of the select few who can say "I made it in Real Estate!"

Have a Powerful Sales Day!

Mark Ferguson · Answer

That is exactly how you want to start. I have been licensed since 2001. I now run a team and two of my recent agents made over 100k their first year in the business. Mostly because of training and and holding. Don;t go for the 100% split no training route.

Michael Jobe · Answer

@Josh B.

Check out my thread here: Year one as a Realtor

Mark Ferguson · Answer

Sorry, should read hand holding. It can be a little intimidating and scary figuring out how to get started.  Dont be surprised if the best training/team situation is 50/50 split.

Ross Greene · Answer

Mark you said because of training and holding? What do you mean by holding? As far as the split goes I agree. $100% of 0 is 0... 60 or 70% of a lot of deals still ads up to a lot of money!

What was you first year being an agent like?

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