I've heard that in their first year that real estate agent's don't make very much and I was wondering if any agents out there can give some advice on whether I should get my license and maybe share their experiences of how their careers started and maybe give some tips to me. Thanks.
The first year is tough. I have a few agents in my office that tell me they did NO business the first year. I did some, but not enough to pay the bills. I was really happy that I saved a bunch of money before I made the leap. Some agents starting out with nothing live off of credit cards, but that is a way to get in trouble in a hurry. The minute you get your license, let EVERYONE know you are in the business. Wear your name tag everywhere, people will stop and ask you questions, it is a good way to make contacts and hand out business cards. It's rough, but it can be done. Good luck to you.
I would say get your license even if you are only thinking about pursuing real estate or not, it will come handy in the future. I myself is a real estate agent and based on my experience first year is the most exciting due to the knowledge (trainings, meeting people and agent like you) you will get and experiences, but financially it is really hard on the first year. I am a real estate agent for almost 4 years now and it is financially rewarding, but I still keep my day job so I can retire early. It is the attitude and commitment that you need to develop if you are really interested in getting into real estate
If your really interested in getting a start in Real Estate definitely go for the license. You will probably need a day job to cover your expenses while you build a following as an agent. Make sure you let everyone know when you get your license. The best way to find clients is through word of mouth. Good luck!
I would say it will be the first 3 months or so that can be really tough. You should be able to have at least a closing or 2 in that time. Then from there on in if you work hard you can make an excellent salary in it. Remember the part time agents, and the lazy agents are the ones starving right now because the market is down. The ones who bust their butts, and still hustle hard each day are making a killing. Its all in your personal work ethics, and your drive. Remember you will not have a boss nagging you to go to work everyday, so its easy to let the days slip away. Work hard, stay focused, and you should do OK. You should have no problem hitting 6 figures after your first year.(and at least 50k in that year.) I personally have some issues with this, but I work an average of 40hrs per week, and I make 6 figures consistently. Even in down markets. If you work hard the hours you put in you will see results. Average home in my area is around 250k. Now if you are in an area where they are 600k it will be easier to make big money, and if the average is 100k it will be harder. Bottom line is if you treat it like a business, and not a slacker you can make money RE Agent, Remax
My dads a real estate agent and does well hes been doing it for quite a few years. I am also in the real estate business, I remodel homes. You just have to get used to being paid in big chunks, and making it last. I think the biggest thing i have learned from his career is that he always looks out for his clients, and makes sure that they don't get into a home they can't afford. Also, different areas have different markets, which go up and down. It really all depends on the job market in your area, what the housing market will be like. He also supplements his real estate income by buying homes and fixing them up for sale (like what i do for work). Its a great way to make some extra money and can far out way the amount of commission you earn in a year. I would say that in your first year you will probably be spending most of your time learning about what the market is like in your area, and what is a fair price for a property and what is not. Networking is probably the most important part of starting your career. A lot of my fathers clients have been with him for years. Once you network and get clients who trust you, and get your name out, learn the market, and always do the best for your client it can be a great job.
