My Daughter Is Interested In Becoming A Real Estate Agent

6 Replies | Oklahoma City, Oklahoma

She is 18, turning 19 next month. Ideally she would like to be associated with an investor friendly brokerage. Her end goal is to be able to work closely with her dad (me), who is just getting started in wholesaling and lease options.
Any advice, tips etc you could provide would be much appreciated. Bonus points for west metro investor friendly brokerages!

Hi Jeff,

Have your daughter get her pre-requisite courses done online. It's the fastest and cheapest way. As for an investor-friendly brokerage, there is really no such thing. She needs to find a brokerage that has good training and will be able to train her. Keller Williams has a very reputation for that. 

Agreed about starting with KW....she needs training, the licensing courses don’t teach you anything about the RE biz.  I prefer the live classroom courses though, you learn more real world stuff, can spasm questions, met other people.

It’s fine if she wants to learn the investment side, but if you want her to make Money, she’ll do better with the retail side.

Hey @Jeff Stephenson

I would look into Spearhead Realty as a brokerage. That's the brokerage I started with and I am super happy with my experience. There are quite a few investors on here that are also licensed with Spearhead. It's a locally owned brokerage that specializes in working with investors. The broker/owner is an investor and has her own investor mentoring program. So a lot of our training actually includes info about working with investors and learning how to invest. They offer a ton of training for agents and I found that it was even more training available than most of the large brokerages in the area offered. Feel free to send me a message and I would be happy to get you or your daughter in touch with the broker and you can see if it might be a good fit. 

As far as pre-licensing course, I went with the most affordable self-paced online option so I could complete it as quickly and efficiently as possible. I'm happy to link you to the one I did. Most of the actual knowledge that you use in day to day real estate is going to come from the brokerage training, not the actual licensing course. 

(Also, the Oklahoma real estate commission is SUPER backed up on application processing right now. So if she wants to get licensed any time in the next few months, it's worth getting the paperwork started as soon as possible). 

Good luck to both you and your daughter! Feel free to reach out if there is ever any way that I can help!

Hi @Jeff Stephenson

Tell her to Run! Just kidding it is a rewarding career. My tips would be. Expect to spend about $3K minimum before even cashing a check (Dues, fees, signage, advertising). Any less is a slow part time crawl up that most never end up making. Find a couple lead/advertising routes and stick with them for a year. She will be getting 40 calls a week from companies wanting to sell her "their awesome system", find what she wants and stick with one path. Adjust after having some hard data to use (number of leads/number of converted leads). There is no online lead generation system that beats in person leads (people she meets out and about). The industry average for online leads is like 4% conversion. Yeah you read that right, some agents spend all day sending information out to hundreds of online requests to get zero feedback or responses. Don't be them, she will quit within 6 months. 

Networking is key, join a few organizations and volunteer her time. Join the chamber of commerce, the local Lions club or Kiwanis club. Attend the monthly meetings and maybe an event every couple months. Spend 1 day a month reading to kids at the local library, another few hours helping at the dog shelter. When she talks to people every conversation goes to the fact she is a real estate agent. Pretty soon "Oh really, my sister wants to sell her house, do you have a card"?

Getting in with investors off the bat is a hard gig. Especially newer ones. They want to look at 15-20 properties spending 2 hours at each. The offer is low and doesn't stand much chance. If it does go through after splits and everything 2 months later she will be getting a check cut for $600 (she still needs to put some aside for taxes). Luckily though when you meet your wholesale clients and they say "No I don't want to sell it for that I want market value", you have a place to send them.

Wish her Good Luck!