What did YOU do in your first month as a Real Estate Agent?

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What did YOU do in your first month as a Real Estate Agent?

Gloria Lynch
Involved In Real Estate · Miami, FL · Member since 2011 · 3 posts · 0 votes

I'm putting together my website, and a new blog, documenting my beginnings into the world of Real Estate. I'd like to know what YOU did in your first month as an agent. Please attach your contact info/website, because if I quote you, I would like to link back to you. Thanks, Nikki

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Michael Quarles
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
14y

During My first month as an agent my sales manager told me that I had to take a veteran agent with me on at least two listing appointments.

Silently I replied bull $?!|. I thought t if a veteran agent were worth taking they wouldn't want to go due to their own time commitment.

First thing i did was set a marketing plan in place, implimented it and took 14 listing contracts. Real estate is easy if you have a plan.

I didn't worry about websites, sales meetings, caravans, updesk, or any other crap agents do to say their "doing something". The agent business can be profitable only when you treat your business professionally.

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  • Account Closed
    Investor · Plano, TX · Member since 2011 · 84 posts · 45 votes
    14y

    paid all my dues... $3k :(

    2Reply
  • Renae Bliss
    Involved In Real Estate · Milwaukee, WI · Member since 2009 · 124 posts · 7 votes
    14y

    I've had my license since March 2011; I have been spending my time engulfing myself in books, seminars, etc. I have tried to take odd-jobs to save up the $$ for the dues in order to be "official"! I also am open to investing opportunities-whether my own or helping someone else!

    0Reply
  • Robert Dobbs
    Residential Real Estate Agent · Delray Beach, FL · Member since 2010 · 115 posts · 83 votes
    14y

    I rode the countryside, shouting to everyone,

    "the British are coming!

    Giving Paul Revere some time-off!

    Bob

    0Reply
  • Townsend Derick
    Real Estate Agent · Fort Worth, TX · Member since 2011 · 53 posts · 23 votes
    14y

    I’ve been a Realtor® since June 2011. Lol, My first month I was trying to build my bank account back up to its normal level. I was fresh off of spending 3-4K on dues, training, supra-keys, etc... I was in a new part of the country so I found a niche which was Veterans and Active-Duty military. To supplement my income I would help people locate rentals and they slowly began to turn into buyers. Most new RE agents work their (SOI) "Sphere of Influence" their first few months and let those individuals be your free marketing.

    2Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    14y

    First month I figured out WHAT DIRECTION I wanted to go.

    Your title says residential real estate agent.The question is do you REALLY want to be one??

    Late nights,weekends,emotional buyers and sellers,erratic lifestyle,etc.

    I find agents don't know what they want and spin their wheels for awhile while the cash goes away.

    Hoe much do you have to survive on until your first closing?? If it's not much you better be out there "pressing palms" with as many people as possible.Even when you get a listing or buyer it's months at least before you get a first check.If you don't have multiple other closings coming that month and the next from your pipeline the first check will be gone in a flash.

    The failure rate for leaving the business is over 90% the first year.

    So find out what you will enjoy (niche) that fits your lifestyle.For me it is commercial real estate.Normal hours and it's an analysis game with numbers and NOT a therapist game with drama all the time.

    Find the niche and become and expert in it and not a generalist and people will seek you out for business.

    Podcast Guest on Show #47
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    3Reply
  • Dale Osborn
    Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
    14y

    Got to listen to the old timers talk about "Buyers are Liars" and how good it was in the "Good Old Days" of the one page contract and before automation. Watched most of these waste their time all day doing minutia tasks and watching the clock for when they could leave the office. They then probably told their spouse or family about their "rough day" in the office.

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    14y

    "Sellers are yellers"

    I remember that one too! LOL

    Podcast Guest on Show #47
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    0Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    14y

    Wrote 1 buyer contract, wrote 1 listing, and closed 1 cash deal in 1st 30 days.

    2Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    14y

    During My first month as an agent my sales manager told me that I had to take a veteran agent with me on at least two listing appointments.

    Silently I replied bull $?!|. I thought t if a veteran agent were worth taking they wouldn't want to go due to their own time commitment.

    First thing i did was set a marketing plan in place, implimented it and took 14 listing contracts. Real estate is easy if you have a plan.

    I didn't worry about websites, sales meetings, caravans, updesk, or any other crap agents do to say their "doing something". The agent business can be profitable only when you treat your business professionally.

    4Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    14y

    I agree with Michael, Once I left the office and worked out my home office full time my business skyrocketed. Being busy with clients and being busy with office work are 2 different things.

    Once you get some income rolling in leverage your time with an assistant.

    0Reply
  • Ed L.
    Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
    14y

    I can't recall my first month, but I did have over a million in sales that year.. They actually have a million dollar club in my local board...

    Which is kinda sad because 1 Million Sale x .03% (50%Selling & 50%Listing)= $30,000

    Then you have to give your broker 40% of that.... That leaves you with a whopping $18,000 in income.

    Then you have to back out fees of 2,000 annually. + another 3-5,000 in expenses (Car, Gas, Personal Advertising, etc, etc).

    That leaves our proud new agent with about $11,000 in taxable income.... Save the trophy and give me a walmart gift card...

    I look at my RE license as a tool..

    It gives me a automatic 3% discount on every investment property I purchase.

    It saves me 3% on every property I sell.

    I just despise being a listing agent unless it is family, or a friend of sorts (Someone I be completely honest with ).. Anyone else I now hand down to agents in my brokerage.

    0Reply
  • Account Closed
    Involved In Real Estate · ontario · Member since 2011 · 1 post · 0 votes
    14y

    Hi Glaria Nice topic You have been chosen,,,
    Its too much informative for me,,I really need to know useful tips how can i earn million dollars as an Real Estate Agent.
    Thanks share more informative post here.

    0Reply
  • Rich Weese
    Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    14y

    I was in right place at right time and VERY motivated. I wrote an accepted contract each of the first 4 days with license. I remember bringing home the tape showing how much I made and woke my wife each time. This was SO CAL in 70-71. Loans were extremely easy to obtain and assume. That made a huge difference. I also determined I didn't like selling SFRS, and soon went into investments, exchanges and buying properties using my commission.
    I also convinced my Broker to increase my commission % to 75% to 90%, depending on production and threat of moving to a commercial Company. Rich

    0Reply
  • Nick J.
    Residential Real Estate Broker · Payson, AZ · Member since 2009 · 3k+ posts · 1k+ votes
    14y

    My first month I spent b!tch$ng about all the fee's I had to pay to this person, that organization, this association. After the first 30 days, I was like, 'effff this'.

    Then I spent a while just doing nothing while I was figuring which direction I wanted to take as well as trying to figure out how to incorporate my new licensing into my own personal investing.

    In the last 30 days, I was able to acquire a few listings, a personal friend/investor client who's bought 3 houses in the last few days who will finally(after much butt kissing) use me as his buyers agent and listing agent :) I'm set now thankfully as he's more active than my bladder.

    best of luck to ya.

    0Reply
  • Jeff S.
    Specialist · Portland, OR · Member since 2010 · 3k+ posts · 1k+ votes
    14y

    Just to set the record straight: it is "sellers aren't nice fellers" and of course "buyers are liars."

    I was fortunate and had a brother give me a listing and bought a house. Open houses and floor time is what new agents usually do. It took a while to figure out middle aged people didn't trust a young kid much, so ended up doing well with the young and the grandmothers. Surprising how many grandmas own rentals and will buy discounted trust deeds.

    0Reply
  • Joseph M.
    Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
    14y

    I read some posts mentioning dues are $3,000 is that dependent on the state you are in or is that nationwide? Can you still work as realtor? Do they give you a timeframe to pay that?

    0Reply
  • Renae Bliss
    Involved In Real Estate · Milwaukee, WI · Member since 2009 · 124 posts · 7 votes
    14y
    Originally posted by Townsend Derick:
    Most new RE agents work their (SOI) "Sphere of Influence" their first few months and let those individuals be your free marketing.

    Could you explain in greater detail what SOI means? I've been licensed since March '11... trying to "get out there"!

    0Reply
  • Renae Bliss
    Involved In Real Estate · Milwaukee, WI · Member since 2009 · 124 posts · 7 votes
    14y
    Originally posted by Michael Quarles:
    Real estate is easy if you have a plan.

    I'm about to start at an agency after the 1st of hte year; but I still have to get a car. Can you make any recommendations as to how I can make money/deals in order to get $$ to get a car, as well as be successful?

    0Reply
  • Gloria Lynch
    OP
    Involved In Real Estate · Miami, FL · Member since 2011 · 3 posts · 0 votes
    14y

    Some of you mentioned paying dues, amounting to $3k. Can you outline the dues you paid?

    Robert Dobbs, you will definitely be my first quote. Haha.

    Joel Owens, I know what direction I want to eventually go. Right now, my parents are decently successful, residentially, so I'm working with them because the amount of work they are receiving is more than my dad can handle. Thats my plan for now, while I learn and research commercial real estate and learn more about working with investors and developers. Eventually, I will tackle that, when I feel more "in the know".

    Danny Day, can you elaborate on how you turned a first month lead/leads into a buyer contract, listing, and closed cash deal?

    Renae Bliss, your "Sphere of Influence" is the circle of people you know, friends, family, business contacts, etc., that you can market yourself to. By working your SOI, you can actually expand it, because you will usually gain referrals to new business prospects. All of this will eventually lead to actual sales.

    0Reply
  • Gloria Lynch
    OP
    Involved In Real Estate · Miami, FL · Member since 2011 · 3 posts · 0 votes
    14y

    And thank you, everyone, for the great feedback!

    0Reply
  • Matt Horwitz
    Philadelphia, PA · Member since 2011 · 155 posts · 124 votes
    14y

    There are very few agents who do the proper things in the beginning.

    1 - Read "The Millionaire Real Estate Agent", by Gary Keller and implement that book to a 'T'! I have colleagues whose businesses have taken off (Top 10 realtor now in Philadelphia, PA). Why? Because he modeled the best.

    2 - Forget about business cards and your proper email signature... start knocking on doors.

    Leverage the following: FSBOs, expireds, and your farm. Don't even call or send letters! Door knock all the FSBOs and expireds in your farm and then sit open houses for agents with listings in your farm. Get lots of signs and start in one area and stay focused! Don't call expireds in other areas. Stick to your farm until your systems are in place for expansion.

    3 - Model the most successful agents in your office/market.
    3 -

    1Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    14y

    Yes Gloria

    My first month I got 1 buyer contract, 1 listing contract, and 1 closed sale. All 3 came from people who knew I was in the process of getting my license. Of course beforehand I could not help them until I did. Once I did they were ready willing and able. The closing closed in 7 days due to a cash sale, so it worked out nice. Network with investors / cash buyers for a quick paycheck. All they care about is numbers. If numbers make sense they pull the trigger.

    Retail sellers are too emotionally attached. I like working retail buyers.

    I spent a huge amount of time on FSBO, Expireds, etc with not 1 lead, not 1 call back. It didn't work for me. Cold calling didn't work for me.

    I found what does work for me, and I do it well. I have generated a total of 41 leads since I started back at work on 1/1/2011. Out of those 41, 2 have already written contracts and 4 are showing.

    Plan a strategy and stick too it. What works for me might not work for you and vice versa. Find out what works for you and do it.

    Danny

    0Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    14y

    Yes Gloria

    My first month I got 1 buyer contract, 1 listing contract, and 1 closed sale. All 3 came from people who knew I was in the process of getting my license. Of course beforehand I could not help them until I did. Once I did they were ready willing and able. The closing closed in 7 days due to a cash sale, so it worked out nice. Network with investors / cash buyers for a quick paycheck. All they care about is numbers. If numbers make sense they pull the trigger.

    Retail sellers are too emotionally attached. I like working retail buyers.

    I spent a huge amount of time on FSBO, Expireds, etc with not 1 lead, not 1 call back. It didn't work for me. Cold calling didn't work for me.

    I found what does work for me, and I do it well. I have generated a total of 41 leads since I started back at work on 1/1/2012. Out of those 41, 2 have already written contracts and 4 are showing.

    Plan a strategy and stick too it. What works for me might not work for you and vice versa. Find out what works for you and do it.

    Danny

    0Reply
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