I know it might be strange to read the title of this post because I am a new real estate agent myself. What I’d like to pass along is advice I have received from some very knowledgeable realtors who have been in the business longer than I have been out of high school.
I have been asking these realtors how long it’s taken them to see a decent income. I have also wondered what they did to get their business off the ground. Below is what I’ve learned. I hope that if you are just beginning a career in real estate, or even contemplating a move to real estate as a career that this advice will be helpful.
1. How long did it take for you to see business start to take off?
The agents I spoke with said that it took 3-6 months to start generating business. After 1 year, they were moving along at a decent pace. Within 3 years, they were making a very good living.
2. How did you promote yourself when you first started out?
Some agents were extremely social and had a well established group of contacts through clubs, religious groups, business groups and volunteer organizations. Other agents had lived in the same city for most of their life. Their family had stayed in close proximity and their family seemed to be well known around town. Promoting themselves was not really an issue.
3. Where did business come from in the beginning if you weren’t well connected and hadn’t lived in the same place most of your life?
These were the agents who really hustled. Any chance they could work an open house or take a floor shift, they would grab it. Flyers were another popular tool that was used. Honestly, cold-calls and knocking on doors were not favored, and not techniques used by the realtors I spoke with.
4. Besides the costs that all realtors must deal with (classes, use of the MLS, association fees…) how much did you shell out to further your business?
No one that I spoke with put any money into advertisement of any sort until they were making a good wage. Free advertisement such as flyers and emails were the way that these realtors connected to others.
5. How did you continue to promote yourself once you were really busy working with clients?
Once you have really taken off and are busy, there is no time to promote yourself. Without advertising, you would end up with crazy busy months and slow months of no action. To minimize this, once your really busy, these realtors would put some money into things like just listed postcards. It reaches many people and their name gets out there even though they have no time to personally promote themselves.
6. How do you feel about a career in real estate after all of these years?
The realtors I spoke with love what they do. They are extremely satisfied and happy they got into the business to begin with.