New agent choosing where to start?

8 Replies

I’m thinking on starting a career as a real estate agent 

My question is should I consider the house market at all for where I start out? For instance one office there are only houses selling for under 200k. However another office readily sells houses 750k+. Should I consider this at all? 

Also the office that sells the higher end homes has a killer agent who id love to mentor. She sells 20+ homes a year of 500k or more. however if I worked at that office I’d have to compete in that region with her. My question is should I worry about the price of what I’m selling or instead just learn the ropes now and worry about that later? AND should I try to start where there are really successful agents like her I can be around or is that not a good idea? They might not even talk to me. Thanks 

Account Closed I would start at an office that offers education, learn the systems and processes first.  Most of the successful agents have those already in place and that's why they are so successful.   Spend your time and not your money when you first start, try not to buy leads. 

Account Closed

Don't fall for shiny object syndrome... that is buying many leads, new coaching or anything that is a product advertised towards agent. If you pick something always stick with it for a minimum for 6 months before you can say "this does not work" 

Does a particular brokerage dominate your market? Does a particular office of that brokerage dominate? Pick that office then copy everything the top agents in that office do.

That was my strategy and now Im one of the top agents in the DC metro area.

Good question.  Let me take a swing at it.

Starting out, I'd find out which is the dominant (market share) office in the area.  Pick the top 2, and interview with them.  You want a larger office, with LOTS of agents and sales--more likely to have a good, well-managed training system in place.

Next, find out what parts of your town have the highest turnover--look for the volume first, the higher priced properties will come along after you get some listings and sales under your belt.

Find your comfort zone, area and price and typical kind of folks that live there. Then go an inspect EVERY house on the market, look at every sold house (last 4--6 months, and visit every expired. If you feel more confident, start calling on FSBO's.

Keys to the business:  attitude, persistence, product knowledge and training (knowing how to properly inspect, make a listing presentation, demonstrate a property, and CLOSE.)

This is a wonderful business.  Good luck!

Also how do you guys study the market? Ive basically been looking on Zillow and seeing which companies have the most listings and for what price. Then I look up that office and look at the agents and see how many homes they have sold recently. 

I know someone mentioned researching turnover in an area. How do you find statistics or numbers on that?


Im still very much a greenhorn. I ordered some books and im trying to watch videos. Its a lot to take in.

thanks

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cheers!

Account Closed congrats. Depending on how you want to make your career out of this work, Grant Cardone made a wonderful point in one of his podcasts - go for first. If someone else is crushing it in the area, they are doing something right. Don't go and try and be the "new" style. Don't reinvent the wheel, there is plenty you can do from just seeing how others do it!