What does a Real Estate Agent spend most of their day doing?

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What does a Real Estate Agent spend most of their day doing?

Bosko Mijatovic
Investor · Irvine, CA · Member since 2017 · 39 posts · 10 votes

The reason I am asking this question is that one of my cousins who is a listing agent out in South California says that A LOT of his time is spent just coordinating showing times for his listing properties. I am interested in becoming an agent here in Missouri and was wanting to hear all the different prospectives from agents all around on what do you spend most of your time doing on a daily basis and do you focus on the sellers or buyers side. Thanks everyone! 

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Share RossBusiness Member
Real Estate Agent · Boynton Beach, FL · Member since 2017 · 250 posts · 135 votes
8y

Hey Bosko , Get your hands on the book "The Millionaire Real Estate Agent" by Gary Keller for a start. Model yourself after the rockstar agents! 

Your profile says you're a flipper so you can find ways to utilize your time and build your wealth and increase your investments at the same time! 

It's always going to be about working with clients that YOU like! Whether that is moms and dads or investors or international buyers or something else... THAT is what is gonna make you happy. Make it YOUR biz. 

Good luck! 

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  • Account Closed
    Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes
    8y
    Originally posted by @Bosko Mijatovic:

    The reason I am asking this question is that one of my cousins who is a listing agent out in South California says that A LOT of his time is spent just coordinating showing times for his listing properties. I am interested in becoming an agent here in Missouri and was wanting to hear all the different prospectives from agents all around on what do you spend most of your time doing on a daily basis and do you focus on the sellers or buyers side. Thanks everyone! 

     Since approximately 80% of real estate agents are not making a living at it, I'd have to guess that the answer to your question of "

    What does a Real Estate Agent spend most of their day doing?" Answer: Wasting Time!
    2Reply
  • Share RossBusiness Member
    Real Estate Agent · Boynton Beach, FL · Member since 2017 · 250 posts · 135 votes
    8y

    Hey Bosko , Get your hands on the book "The Millionaire Real Estate Agent" by Gary Keller for a start. Model yourself after the rockstar agents! 

    Your profile says you're a flipper so you can find ways to utilize your time and build your wealth and increase your investments at the same time! 

    It's always going to be about working with clients that YOU like! Whether that is moms and dads or investors or international buyers or something else... THAT is what is gonna make you happy. Make it YOUR biz. 

    Good luck! 

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    really depends on what niche an agent is in.

    when I sold real estate I was a land specialist..

    so my week days were spent in the morning getting to the golf course by 10am finishing about 3pm

    go home.. check my message machine ( remember those)  eat dinner then at about 7pm ( after everyone was done with dinner) hit the phones for about 1 hour setting up appointments for the weekend showings. 

    I don't think I took 5 weekends off in my first 10 years unless it was Christmas or Thanksgiving. 

    Only weddings I attended were immediate family and thankfully hardly anyone I knew passed away.

    but those sat and sun.. those were up at 6 am work till dark..

    then Monday was escrow set up day.. then back to playing golf all week..

    Now to be fair selling owner financed dirt did not entail apprasials  home inspections  financing etc. so it was very time efficient.. maximum income for minimum hours spent.

    Tax sale time I would spend a week tracking all the properties I wanted to bid on .. and then I would follow trustee sales.. that would break up my week.

    It was fun rewarding and made many lifelong client friends..

    Nothing better than to work with someone who has made it  ( sold a company what ever and is looking for that trophy ranch.. !!!  )...

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  • Mark Pedroza
    Real Estate Agent · Sacramento/Placer ~ San Francisco Bay Area counties · Member since 2012 · 1k+ posts · 743 votes
    8y

    @Bosko Mijatovic

    Researching new probate files that are submitted. I've attended 3 different Lunch 'N Learns at my local real estate association in the past were the speakers were probate/estate attorneys. After the luncheon I introduced myself with my information.

    Since then when I'm on my way to the {county} courthouse I email or leave a voicemail to that attorney I've met and asked if there are any files to look at or follow up on those cases they're (estates) representing. I just want to make the attorneys job more easier for them.

    The plan is to be the back up agent to work with if their primary agent is too busy... 

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  • Steve Christensen
    Wholesaler · Saint Ann, MO · Member since 2014 · 50 posts · 27 votes
    8y

    @Bosko Mijatovic it's all a matter of how an agent individually chooses how to prospect, and sometimes, a brokerage and / or team may have certain tasks you must do. 

    @Account Closed said it best - the majority of agents are either part time or do not make great money. The rock starts do any of the following by time blocking with dedicated time to any or all of the following:
    - door knocking
    - cold calling
    - open houses
    - following up

    ^ That is a very basic, broad view, as you can narrow the above down tremendously. Some agents work strictly with investors. Some with land. Some only go after listings. Some only work as buyer's agents. There is no right or wrong answer. Just a matter of what you resonate and see results with.

    Some brokerages might mandate office / farm hours, where you have to sit and answer general phone calls.

    And then there are paid ways to prospect. Some call this "buying the business." Examples
    - paying for zillow leads
    - facebook advertising
    - list sources / mailers

    Just a few. To give you an idea of the polar opposites of 2 agents - 1 may love cold calling 300 people every day on a triple dialer, while the other would rather spend 2k a month for Zillow leads. Both could result in the same net commissions, but are totally different routes.

    And then you could also start out on a team, where you are only dedicated to specific tasks, such as working as a buyer's agent and showing houses.

    While I am not trying to be a negative Nancy, I highly suggest looking at youtube videos on what it really takes to be a successful real estate agent. Why? Because every broker you sit down with will tell you and show you how you are going to make 100k your first year. Unfortunately, just like getting your license, they don't tell you or show what it takes to sell to get there. And I think for many people, looking back, or if you asked them, would pass on what it really takes to be a successful agent.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    @Steve Christensen  same can be said about someone with no experience trying to wholesale real estate I mean at the core your just being an unlicensed real estate agent so all of the things you describe a wholesaler needs to do to be successful and 90% of those that start wholesaling burn out..

    no support group for them ( IE brokerage )... I think anyone who can successfully wholesale can make it in many business's  not just real estate.

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  • Eric James
    Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
    8y
    Originally posted by @Jay Hinrichs:

    really depends on what niche an agent is in.

    when I sold real estate I was a land specialist..

     Just curious. Why'd you get out of that business?

    0Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    8y

    I spend 20 hours per week on lead generation.

    I spend about 20 hours a week answering emails and phone calls.

    I spend about 10 hours a week on paper work.

    I spend about 10 hours a week at properties.

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  • Rebecca Rasmussen
    Residential Real Estate Broker · Highlands Ranch, CO · Member since 2017 · 8 posts · 4 votes
    8y

    re: "A LOT of his time is spent just coordinating showing times for his listing properties" ... tell him to engage a showing service. Then he will spend little to no time coordinating showings and can spend much more time on better pursuits. 

    ( In terms of how I spend my time, well, I'm a newbie with just one listing under my belt so my time use would not be the best example. )

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  • Christopher Phillips
    Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
    8y
    Bosko Mijatovic Depends if the agent concentrates on buyers vs listings. Agents shouldn’t be spending excess time on admin work. That means they don’t have systems in place. Most people use scheduling services so they don’t have to deal with that stuff. The homeowners and the buying agents appreciate the services. 5:00am wake up, exercise, yoga breakfast shower, etc. 7:30am Roleplay scripts with other agents 8:00am to 11:00am lead gen 11:30am to 12:00pm follow up calls Lunch or training 2pm to 7:30pm appointments ( sellers or buyers) Read, tv, dinner, early bed time. Five days per week. Sometimes do Saturday morning lead gen or one late night during the week. Lead gen can be phones or door knocking. Some people will do phones in morning and door knock afternoons. Not everyone does lead gen the same. Some won’t do expireds or FSBO. Some just Circle prospect neighborhoods. Most agents don’t call. Other methods are Zillow or Realtor or Facebook ads or google adwrx. But those mean waiting for someone to call in.
    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Eric James:
    Originally posted by @Jay Hinrichs:

    really depends on what niche an agent is in.

    when I sold real estate I was a land specialist..

     Just curious. Why'd you get out of that business?

    Real estate is a progression and I then moved into doing development work on a big project 540 lots in Nevada county CA and that company took me on as a 1099 to do acquisitions for them.. so I then used my land knowledge to source all sorts of land deals for them.. so I had my buyer made my commissions and got equity in each deal.

    Although I continued to do my land deals up until my last one in 91 were I sold a 1200 acre ranch in N ca to a slumlord in Alameda CA for CASH of course..  I then went up to Oregon and started using those same land techniques I used back in the day to build a land and timber business.  in 91  Spartan Mortgage bought my book at a number that was too good to pass up..

    PS  the buyer of the ranch that was a slumlord in Alameda CA owned 165 doors all FREE and CLEAR

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  • Lisa Thoele
    Investor · Newberg, OR · Member since 2012 · 161 posts · 82 votes
    8y

    I think you have a lot of good info provided above.  Being a successful real estate agent is being in the lead generation business.  Find a way to prospect and provide excellent customer service.  If you don't think you can find a method(s) of lead generation that you will enjoy, you probably shouldn't attempt to build a business as an agent.  

    2Reply
  • Eric James
    Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
    8y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Eric James:
    Originally posted by @Jay Hinrichs:

    really depends on what niche an agent is in.

    when I sold real estate I was a land specialist..

     Just curious. Why'd you get out of that business?

    Real estate is a progression and I then moved into doing development work on a big project 540 lots in Nevada county CA and that company took me on as a 1099 to do acquisitions for them.. so I then used my land knowledge to source all sorts of land deals for them.. so I had my buyer made my commissions and got equity in each deal.

    Although I continued to do my land deals up until my last one in 91 were I sold a 1200 acre ranch in N ca to a slumlord in Alameda CA for CASH of course..  I then went up to Oregon and started using those same land techniques I used back in the day to build a land and timber business.  in 91  Spartan Mortgage bought my book at a number that was too good to pass up..

    PS  the buyer of the ranch that was a slumlord in Alameda CA owned 165 doors all FREE and CLEAR

    A lot of very interesting experience. Thanks for sharing.

    I can only dream of being a slumlord with 165 paid off properties....and a 1200 acre trophy ranch. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Eric James:
    Originally posted by @Jay Hinrichs:
    Originally posted by @Eric James:
    Originally posted by @Jay Hinrichs:

    really depends on what niche an agent is in.

    when I sold real estate I was a land specialist..

     Just curious. Why'd you get out of that business?

    Real estate is a progression and I then moved into doing development work on a big project 540 lots in Nevada county CA and that company took me on as a 1099 to do acquisitions for them.. so I then used my land knowledge to source all sorts of land deals for them.. so I had my buyer made my commissions and got equity in each deal.

    Although I continued to do my land deals up until my last one in 91 were I sold a 1200 acre ranch in N ca to a slumlord in Alameda CA for CASH of course..  I then went up to Oregon and started using those same land techniques I used back in the day to build a land and timber business.  in 91  Spartan Mortgage bought my book at a number that was too good to pass up..

    PS  the buyer of the ranch that was a slumlord in Alameda CA owned 165 doors all FREE and CLEAR

    A lot of very interesting experience. Thanks for sharing.

    I can only dream of being a slumlord with 165 paid off properties....and a 1200 acre trophy ranch. 

    165 doors many of his units were old Victorians that he made into 2 to 5 unit properties also he started in the 50s when those units cost 10 to 20k each..  now they would be worth 1 million probably each..  

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  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    8y

    I was in gym class this morning. Agent friend asked what I was doing this weekend. Got 2 vacants. Moving season so gotta work a little bit. You? She has 2 closings Monday. Final preps and inspections.  Good agents have full weekends and concentrate on what matters!

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  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    8y

    @Bosko Mijatovic First, you should tell your cousin to find ways to systematize his showing times by using an online booking system - Acuity Scheduling or Calendly. Sure, that might not completely eliminate people calling him all the time for showings, but it should help reduce the task drastically. 

    At a very simplistic level, there isn't a typical day for an agent and I suspect it will vary by market anyway too. 

    I really like what @Share Ross said about the Millionaire Real Estate Agent book. I really liked the investor version and it is an awesome book. 

    Also, reading could be one thing you can do as an agent!

    Hope this helps. Goodluck. Thanks! - Ola 

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    8y

    Since I do commercial real estate most of my activity is during the week and weekends I take off. Sometimes on the weekend I will take  a call or clean up files getting ready for Monday.

    In residential Monday tends to be one of the slowest for clients with weekends the busiest. In commercial real estate Monday tends to be pretty busy as your ultra high net worth clients who are corporate executives, docs, business owners,etc. are getting back into the swing of things.

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  • Steve Bracero
    Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    8y

    @Bosko Mijatovic

    it varies heavily depending on the agent... some chose to actively prospect while there are passive methods as well 

    0Reply
  • Marylin OShea
    Real Estate Agent · Annapolis, MD · Member since 2017 · 109 posts · 82 votes
    8y

    Blah I hated that Keller book. 

    Good real estate agents 1) love real estate (cause they'll spent a LOT of their time doing it!), 2) care about their clients, 3) followup, 4) put a lot of time and effort into lead generation. 

    I'm two months in, I talk to people around me all the time. I listen. I try to find my own way, and I read a lot, ask questions from seasoned agents & my mentor, and then I show up!

    Landed two listing appointments already. Luck of the beginner?

    Luck shows up when you're prepared :) 

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