All Forum Posts by: Johnny L.

What types of listings do you want? SFHs? Multis? Every agent in your market will be chasing expireds. Do you have access to MLS? Market to listings that aren't expired but have been on the market for several months 6+. Research owners of multis in your area and reach out to them. Try your local assessors office and see if you can buy lists of different property types.

Great advise from everyone,  but.... the best part of real estate is your attatude determine you altitude.  I know you may have heard a saying like this before but it's my battle cry. YOU CAN DO THIS!!!! WHY WORRY ABOUT BECOMING THE AVERAGE AGENT. ...... 

to make 200k a year and after your broker split you make $5,000 per.   You will need 40 deals a year. That's 3.5 deals per month.  Or about 1 per week. So if you sell every 10 people you talk to and you have to pitch 30 people to get the 10 appointments figure it out.

That's 1200 touches of new people per year and you make 200k..... 

good luck

jim

My last year working with clients full time was 1986. I was the top producer in Venice/Marina del Rey Calif. I grossed about $360k however, I started in 1980 with interest rates at 15-17%! A house in 1984 could be bought for $110k is now selling for $700k. Unscale houses selling for $350k are now upwards of $2mil. My 1st year with those sky high interest rates, I only sold 1 house and made $4k. every year my income about doubled except my last year I tripled the year before hitting the $360k but it was an unusual tax driven year. 

Then I got stupid and decided to go from a one man shop to 2 offices and 50 agents grossing 2-3mil per year and yet losing money...

No one's given you a road map... I've trained a few hundred agents, past pres of the local Board of Realtors and lots of other community involvement. When you get your license, look me up and I'll give you my blueprint to success...

Salary is important for a career but the most is choose what you truly love. I knew there are a lots of people who wanted to work as agent just because they thought they could get commission through a large number deal, but after the first year of agent and they quit.

One of our teacher (a broker) told us, generally they helped around 300-400 students a year to get the license, but there're 3-5 will really work as agent in the first year, and 2-3 agent will remain in the second year, those are the people who will work as agent as career.

In CA over 500K people hold a license. And also, if you just thinking about the median salary you could earn, then it will be the reality. In our teachers company where I always go, there is a Star of the Month board, those agents rank from 1st to 10th, the 10th agent got his "commission" over 10K a month. And the 1st is around 100K.

I said that much is I want to let you know that those people who earn that much because they work for there passion, not money.

If you really love real estate then go for it, don't care about the salary, just like I did.

Yes yes a thousand times yes I'd recommend this career to a young aspiring agent. IF and ONLY IF you have decided to do the work. My first year I had no budget no money and lived in my brothers basement the first 6 months saving up for a house. However I did 1 deal, then a 2nd deal and the ball started rolling. I didn't make six figures my first year, (I admit I slacked off when I started to make more than my last $24k a year job) But I did break the six figure barrier my second year. I was 24 when I started and still doubled my last jobs income and had time to spend with my newly started family. It's an amazing career if you make it one. 

Just like ANY other business in this world, your success and income is 100% dependent on you, your goals, and the amount of action you take. I personally know a handful of agents who well surpassed $100k their first year as an agent.

@Sandy Thomashit it on the mark...work your network, referrals will come form people who know and trust you and building a client base to do that for you takes time...selling a $50k house can be more trouble, more time consuming and more aggravating than selling a $500k house so focus on a market and attack it...just my opinion !

@johnny lujan

Yes I would seriously look into the business if you feel that it may be something attractive to you. If you are self reliant, like problem solving, like people, like sales, comfortable being without a promised income.  It can be hard starting out when young. I started at 29.  

I personally do feel that being a licensed Realtor on a big team is perhaps the best way to get into the business. Will be lots of grunt work and long hours in the beginning and lots of work. But invaluable real life experience, activities to do and learn, and income.  Plus you likely will be able to kick start your advertising if you work well with some big agents.  I had success with post cards using language. "We just listed" or "we just sold". Instead of "I just....."   I paid for the cards, postage, and leads were shared with the mentor agent whose sales I "borrowed" for my marketing purposes.  Got career jump started that way.

Here is one of my favorites quotes from @Jay Hinrichs.

"As an Broker/Agent you build a business that you can do for a lifetime. Show me any flippers or rehabbers that have been in the business 15 to 40 years like many RE brokers like myself included"

-Pure Awesomeness!