Different ways a agent can make money and is marketing the key

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Different ways a agent can make money and is marketing the key

William Brown
Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes

I am going to become a real estate agent in the near future. What are different ways a agent can make money? And is marketing the key to being a successful agent? 

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Eric H.
Real Estate Solutions Provider · Baltimore, MD · Member since 2014 · 571 posts · 452 votes
10y

@William Brown The only time we have is NOW! Don't put off doing something that you really want to do. There is no better time like the present! As an agent, working your sphere of influence is going to be critical. You should be telling everyone you know - family, friends, coworkers - that you are a licensed agent and you can help them buy, sell, or rent. Tell them to tell their friends, family, and coworkers. I am in the process of attacking social media, driving those leads to my website that will be full of educational material regarding real estate. Learning and understanding your market will prove to be the most beneficial service you can provide to your client. 

Here are some other posts on BP related to agent marketing strategies.

https://www.biggerpockets.com/forums/21/topics/204...

https://www.biggerpockets.com/forums/87/topics/182...

Hope this helps!

Sincerely,

E. Harris

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  • Eric H.
    Real Estate Solutions Provider · Baltimore, MD · Member since 2014 · 571 posts · 452 votes
    10y

    @William Brown The only time we have is NOW! Don't put off doing something that you really want to do. There is no better time like the present! As an agent, working your sphere of influence is going to be critical. You should be telling everyone you know - family, friends, coworkers - that you are a licensed agent and you can help them buy, sell, or rent. Tell them to tell their friends, family, and coworkers. I am in the process of attacking social media, driving those leads to my website that will be full of educational material regarding real estate. Learning and understanding your market will prove to be the most beneficial service you can provide to your client. 

    Here are some other posts on BP related to agent marketing strategies.

    https://www.biggerpockets.com/forums/21/topics/204...

    https://www.biggerpockets.com/forums/87/topics/182...

    Hope this helps!

    Sincerely,

    E. Harris

    3Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    Yea I know what you mean about the present. Im gonna get started on my courses in November I can't wait and thanks for your info I really appreciate it and I will apply it 

    0Reply
  • Lundy Lundmark
    Real Estate Entrepreneur · Vero Beach, FL · Member since 2015 · 39 posts · 6 votes
    10y

    why do you REALLY want to become a realtor? if it's for the wrong reasons, you will struggle and you will just be a #.. it's not an easy industry..just remember this. Your not in the helping to buy or sell real estate,  that's the side effect.. your in the prospecting business...if you don't enjoy prospecting, it will be a rough going.. gl..

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y

    Marketing is the key. Always be promoting yourself and your business.

    Get out in front of as many people as possible as many times as possible.

    Marketing the works for me.

    • Website.
    • Social Media.
    • Signage.
    • Direct Mail.
    • Newspaper.
    • Logo'd Clothing.
    • Business Cards.

    Ways you can earn money as an agent.

    • Helping buyers buy.
    • Helping sellers sell.
    • Helping renters rent.
    • Property management.
    2Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    10y

    Yeas what many do not understand is take any business that is highly effective in any field and you will see one commonality. GREAT MARKETING is driving the business. When you receive the business you still have to perform to get referrals and repeat business but marketing gets the constant inflow of leads.

    I have known people that were amazing at the mechanical aspects of a transaction but were horrible at social interaction and using marketing to generate leads. Sometimes forming a team or having an assistant helps.

    An experiment is if you go to an event and one person is a wallflower versus the other is out shaking hands and talking to people like a tornado around the room. One has the gift of gab and social interaction. The other might be more in their element being in a room with nobody doing technical tasks and working off of a checklist.

    All of my jobs early on in life I had constant human interaction with all kinds of different people. By doing this I learned how to work effectively with various personality types. I can talk to people on the phone or in person just meeting them like I have know them for 20 years. It is a learned skill but also some people will just never feel comfortable with it but possess their own strengths.  

    Podcast Guest on Show #47
    NNN Invest53 Reviews
    WebsiteView Page
    2Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Lundy Lundmark I want to be a agent because I like to hustle,sale,and help others so I think it would be a good fit for me and I know it will be hard getting it going but im ready

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Joel Owens 

    @James Wise

    Thank you for answering I will study up on my marketing so I can become great at thanks thanks for the tips I will apply them

    0Reply
  • David Hunter
    Residential Real Estate Agent · Cleveland, OH · Member since 2008 · 579 posts · 225 votes
    10y

    Marketing is key!  If nobody knows who you are they won't be calling.  Just be sure to give them a reason to call.  And, "Call me to sell your house" ain't gonna cut it.

    Also, to add on to what others suggested about how agents can make money... REFERRALS.  Don't want to work with buyers?  Ok, refer them to someone who does.  Did someone call you about rentals and you just don't have to the time?  Great, refer them out!

    2Reply
  • Derek Jones
    Real Estate Agent · Sacramento, CA · Member since 2015 · 338 posts · 135 votes
    10y

    To make money in real estate you need leads.  You either need to work and get the leads yourself or go with a broker who will give you leads.  As a new agent I would recommend the later of the two. Granted with option number 2 the commission split won't be as great but the way I look at is would you rather have 90% of $0 or 40% of $5000?

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @David Hunter Thanks for the info great tips about referrals I didn't think about that thanks.

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Derek Jones That's a good way to look at it I will look for brokers that offer leads when I start out and when I get more professional move to a different broker so I can keep most of the commission thanks for your info

    0Reply
  • Jamie Wooley
    Investor · Dallas, TX · Member since 2014 · 142 posts · 44 votes
    10y

    If the hustle is what you are after!  Wholesaling would be a great option.  Read a little about it if your not familiar.  You could do amazing things if you really can hustle.  

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Jamie Wooley Yea I'm familiar with wholesaling I am reading a book on it now I am planning on wholesaling too and being an agent

    0Reply
  • Jamie Wooley
    Investor · Dallas, TX · Member since 2014 · 142 posts · 44 votes
    10y

    @William Brown  Great, I think that is awesome.

    Best of Luck to you!

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Jamie Wooley Thank you and I read your profile I hope you achieve your 2016 RE goals. 


    0Reply
  • Edward Hamill
    Professional · Nokomis, FL · Member since 2013 · 123 posts · 99 votes
    10y

    Just a few random thoughts (I handle Internet Marketing for roughly 14,000 agents in 7 states, so I do have a little experience...)

    Market, Market, Market... and use EVERY tool that your broker gives you!!!  If they are paying for it, then it must be working!  Take the time to learn it, love it and live it!

    Attend webinars when possible.  A great company that offers free webinars on Wednesdays is Market Leader... google "market leader power hour".  The first half is always generic marketing, prospecting, etc... the 2nd half is how to apply it to their system.  No one says you need to listen to the 2nd part.  just disconnect.  Also, the paperless agent offers some great live webinars each week for free.

    Create social media content!  Facebook, twitter, Instagram, etc... folks are using this more than ever!

    Find a mentor!  Many seasoned agents HATE doing open houses... offer to cover an open house for them!  You get to keep the leads and you get experience without having your first listing.  Most importantly, the senior agent keeps their client happy by having open houses.

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Edward Hamill Thanks for the advice I will apply it. And thanks for the website info I checked them out and they look useful I will book mark them thanks. And yea right now I am watching every webinar I can.

    0Reply
  • Will S.
    Irvine, CA · Member since 2015 · 51 posts · 6 votes
    10y

    I sold 40 homes my first year. This is what I did and it costs nothing!   Every day call every cancelled and expired listing in a 1 hour drive from your office and tell them you do more marketing than any other realtor.  Then put them In the two largest newspapers and two buyers guides every week.  Buy the featured listing package on realtor.com and take 36 pictures of every listing and do a virtual tour so they come up first on every web site.  The 2-6 years I sold 100-130 listings a year.  You will have to price your homes accurately but that should be no problem as canc and expired listings are ready for the price drop.  Also your broker has probably told you everyone charges 6 percent.  They are lieing.  The broker lets the top producers in the office charge 4.5 or 5 percent.  You will have to move to relax to do this.  And you don't want to be on a commission split.  Instead pay a $2,000-3,000 a month desk fee unless you don't believe in yourself. 

    2Reply
  • Will S.
    Irvine, CA · Member since 2015 · 51 posts · 6 votes
    10y

    remax not relax

    0Reply
  • Will S.
    Irvine, CA · Member since 2015 · 51 posts · 6 votes
    10y

    BY the way wholesaling is illegal it is called a "net listing" and you will loose your license. 

    0Reply
  • William Brown
    OP
    Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
    10y

    @Will S. Thanks for the advice i\I will apply it...... you did really good your first year Im trying to do the same thing when I start and get better and better

    0Reply
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