Setting up systems for my realtor career

[Bryce Spraggins]

Hey BP, I just passed my test and am now a licensed real estate agent. I have been looking at setting up systems in my new business to be able to become a top producer so that I can begin to invest in real estate. I have googled the top real estate agent in my area and she has done 50-60 million in gross revenue and around 70-80 transactions for the past two years and my goal is to beat her. So my question is, are there any top agents out there that do that kind of revenue and if so would you be willing to share with me your systems. Such as what are the list of things you do for prospecting, marketing, what do you do when you get a new listing, etc. Thank you in advance BP. 

[Russell Brazil]

Id focus first on realistic goals before setting your sites on $50 million in volume. To sell that much would have a typical operating budget of $250k.  

The systems you need to start are completely different from the systems for some one selling 20 units which are completely different from someone selling 100 units.

Start with the fact that the failure rate for the industry is 87%. So first start with how can I be a part of the 13% who "make it." I out make it in quotes, because of those that do, the median income is about $40k per year.

Then start to build..how can I handle 1 transaction at a time, then 2, then 3. Btw, juggling 3 transactions at a time, while still spending time on lead generation is pretty darn hard.

The top 1% of full time agents starts at about $10 million in volume. Looks like in Florida there were only 252 solo agents who broke $20 million in volume last year per Real Trends, and it looks like there are 251,000 agents currently in Florida. So only the top one tenth of a percent break $20 million in volume.  

Im in the top 1% of agents nation wide, and Im pretty steady at about $15 million im volume.