Real Estate Sales as a Supplemental Career

10 Replies

My main goal is to get started in real estate investing as soon as possible, however I am also looking for a career to begin building on for both primary income and as means of acquiring as much knowledge as possible about the business of real estate. I am 21 years old and currently working as a leasing consultant to gain as much relevant real estate experience as possible. My predicament differs from the standard that I see on the forums, which is investors asking whether or not getting their real estate license will be worth the hassle of it. For me, I have always liked the idea of having a career in sales as a real estate agent even prior to discovering real estate investing. So is it a good idea to become a real estate agent if my long term goals are to rely primarily on my investment income? Will having my license have any negative impact on my ability to build my personal investment portfolio? Any and all feedback is greatly appreciated.

Hey @Michael Strachan ! It's always great to see people my age, or younger, realizing that real estate is a great way to build wealth. I was in your shoes a few months ago and have been working on the transition. I'm 22 and come from being a web developer. I've been involved in real estate for a while due to parental influence but didn't really pick up to full steam until last year. You are already in a great position working as a leasing consultant as it will give you more knowledge. I, like you, asked myself about the agent path and decided that it would in fact be a good path for me. I take my test next Friday! If you want to get great at real estate and make money from it well there are many paths, none of which are gone from having a license. I'd say that most people will say that having your license should have a positive impact on your ability to build your investment portfolio. Hope that helps! If you have any questions feel free to message me!

TLDR; I'm 22 and left a pretty promising career trajectory to become a full time RE agent / investor. 

Also I like the Garyvee mentality on whether you should do something. You are 21 and if you are interested in a career in sales with real estate then why not just try it. If you fail and are miserable after 4 years you'll be 25. People in these forums would kill to be 25 again and be interested in real estate. Just go for it!

@Michael Strachan it is not a part time job. 90% give up in year one and of the remaining 10% another 80% drop out before year 3. Why? Because they have unrealistic expectations and think they can do it part time. And then they find out it's a lot harder than they thought!

On the other hand, my brokerage Keller Williams is very transparent and I can see production of every agent. We have hundrets of agents that make a million a year or more. And no, most of them are not in NY or LA, they sell $250.000 homes, but they perform on a very high level. KW gives you the blueprint to that level, and while it is actually simple, it is by no means easy. 

@Jacob Price Thank you for your insight! I agree, I feel that youth is a large advantage as far as being more capable to put in the time to gain as much knowledge as possible. One of my main concerns however about being much younger on average than most of my would-be colleagues is that I'm afraid I won't be taken seriously by prospective clients and peers. But it's good to hear that there are others embarking on a very similar journey to mine and I would love to stay updated with you on how your career in real estate unfolds and some of the challenges you may face. And good luck on your test next Friday!

@Marcus Auerbach Yes, your comment about most people giving up early on in their careers is definitely in line with much of the research I've done and I certainly take that advice seriously. Rest assured that my intention, if I choose to take this path, would be to transition to real estate full-time and dedicate all of my time and resources to it. I also have heard a lot of very good feedback about Keller-Williams as far as their transparency and capability of giving young agents the tools they need to find success. I would definitely consider them as a great place to start my career off strong. In fact, "The Millionaire Real Estate Agent" by Gary Keller is next on my list of books to read. I would love to hear your input on that book and anything in particular in it that you found to be especially insightful.

Originally posted by @Michael Strachan :

@Jacob Price Thank you for your insight! I agree, I feel that youth is a large advantage as far as being more capable to put in the time to gain as much knowledge as possible. One of my main concerns however about being much younger on average than most of my would-be colleagues is that I'm afraid I won't be taken seriously by prospective clients and peers. But it's good to hear that there are others embarking on a very similar journey to mine and I would love to stay updated with you on how your career in real estate unfolds and some of the challenges you may face. And good luck on your test next Friday!

 Yeah I think a lot of people have that fear, when I first started investing I had already been involved with many flips and new the logistics and skills to perform. If you know what you are talking about then people know. While there is always age/experience bias in every industry I feel that this industry is actually pretty welcoming. If you have the knowledge it will be apparent. I haven't had any problems personally. There was a podcast episode where there was a 20 or 21 year old and they were crushing it. They got asked that question and said basically the same thing. 

Originally posted by @Jacob Price :
There was a podcast episode where there was a 20 or 21 year old and they were crushing it. They got asked that question and said basically the same thing. 

 That sounds interesting, do you happen to know which episode that was, or the investors name? I'm working my way through them right now in reverse chronological order and I'm at about #200.

Originally posted by @Michael Strachan :
Originally posted by @Jacob Price:
There was a podcast episode where there was a 20 or 21 year old and they were crushing it. They got asked that question and said basically the same thing. 

 That sounds interesting, do you happen to know which episode that was, or the investors name? I'm working my way through them right now in reverse chronological order and I'm at about #200.

 It was a while back on the show. I just looked but couldn't find it. Just keep going you'll get to it!

Originally posted by :

I also have heard a lot of very good feedback about Keller-Williams as far as their transparency and capability of giving young agents the tools they need to find success. I would definitely consider them as a great place to start my career off strong. In fact, "The Millionaire Real Estate Agent" by Gary Keller is next on my list of books to read. I would love to hear your input on that book and anything in particular in it that you found to be especially insightful.

Definitely THE bible for the industry and a great read. I have red the book before I got licensed and I thought it was okay. After joining KW and getting my feet wet I red it again and I started to realize the significance of the research Gary has put into the book. It is literally the road map to netting a million USD a year as an agent. There are a lot of what we call "mega agents" in our organization that exceed that mark every year.  And many of them are in small towns and are doing this with average homes. Gary did not just write a book, he systematically condensed the experience from his (now) 160.000 agent organization into a best practice guide. Anything you struggle with, go back to the book and you will hear yourself swear, because it says it right there...

The other book I recommend to read is "The ONE thing" - not an agent book, but a general business book and probably one of the biggest keys to success for any business owner or manager. 

@Jacob Price - good for you! Don't let your age discourage you! You are right it is in fact a huge asset - you have time on your side! People will work with you because of your knowledge, your energy and your professionalism.

The fact that you are on BP tells me something about your spirit - you are looking to learn and grow. You are blessed that you have a family background in RE, which makes certain things "normal" for you because this is how you grew up. Many have to work hard and fight their parents influence to even get to that spot. Let me know if there is anything I can help you with and good luck for the test!

Originally posted by @Marcus Auerbach :

Definitely THE bible for the industry and a great read. I have red the book before I got licensed and I thought it was okay. After joining KW and getting my feet wet I red it again and I started to realize the significance of the research Gary has put into the book. It is literally the road map to netting a million USD a year as an agent. There are a lot of what we call "mega agents" in our organization that exceed that mark every year.  And many of them are in small towns and are doing this with average homes. Gary did not just write a book, he systematically condensed the experience from his (now) 160.000 agent organization into a best practice guide. Anything you struggle with, go back to the book and you will hear yourself swear, because it says it right there...

The other book I recommend to read is "The ONE thing" - not an agent book, but a general business book and probably one of the biggest keys to success for any business owner or manager. 

 I think I've heard "The ONE thing" mentioned a few times in the BP podcast by guests. I'll have to give it a read. And it's interesting what you said about going back to Gary Keller's book as a reference, because I've never done that with any book before, but recently started doing that with "Set for Life" by Scott Trench and found that I take away so much more of the valuable information that way. It's amazing how much more you can learn from something when it actually applies to a problem you're facing in the moment. Thanks for all your input.

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