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How long does it take to get started?

I have been an agent for about a year. Along with that, I spent another year working as an intern for an agent. Anyway, I recently graduated in May of 2007 from college and I have been working hard to grow my business. I got pretty good grades in school and I am a fairly fast learner. Everyone has been very supportive of me getting my real estate license however, times are definitely tough and many people often tell me that I got in at the wrong time.

Anyway, it may just be because I want instant gratification at times (don't we all at one point or another?) but, sometimes I think maybe I need to get a nice paying corporate job and use my knowledge to invest in properties.

So... if by working hard and doing everything I can, is it possible to make my dream of working in real estate a reality? And if so, how long should it take?

Please tell me how long it took you to get on your feet and what you did to stay in the business until you reached a level of supporting yourself!

(note: what I mean by getting started is making enough from the business to at least pay my bills.. which isn't much, but when you have nothing every dollar counts.)

Posted by Nick Van Assche on 09/17/2007 07:27 AM

Comments (53)

new, agent, starting, patience, long, realtor, sustainability

53 Comments on How long does it take to get started?

SEP

2007

Hey Nick, I don't know what you mean by "getting started" but I hope that after a year you can close at least a dozen deals this year. You probably need some systems and a very good broker that can direct you. Also, hopefully you received a lot of training prior to making yiur first calls.

Nick,

It's different for everyone. As Al says above hopefully you have a good Broker that can direct you. As for people saying you got into it at a bad time, well, to me this is the ultimate challenge. Now is the time to learn and work hard. The good time will come back, it goes in cycles. Not sure what you mean by getting started though. Do you mean your first client?

Nick I agree with Al and only you can know if Real Estate is for you!

Hello, Nick! The real estate industry is not very kind to new agents, unless you already have a long list of buyers ready to buy when you got your license. It's not a negative view, just a fact. You just have to hang in there and soon business will pick up for you. Give yourself at least three years to get really established.

Some newer agents in my office left this year because of the current market, however there are many experienced agents in my office doing great. I'm on the lower end this year but I'm working on my prospecting so that I'll have a good start next year. Good luck to you and keep an upbeat attitude--people like to be with cheerful people, and they include clients. : )

Nick: First off, congratulations. I want to tell you that I know this agent at church and I know he started as a realtor right out of college. I know his first few years were rough but in the past few years, (in my guessimate), he probably earns well over 6-figure income....... Doesnt that give you hope?

Having a business and working for someone are 2 different worlds. Having a good firm to support you is key to your success.

Some close on their first deal before others. Few get listings before buyer clients, You must find your niche and go after it.

Hey nick I am a newer agent my self, active rain is filled with lots of good info and ideas you just need to be willing to try them, I will give you a call sometime to kick some ideas around.

Nick;

I to am an new agent in the business (1 month), so far I have 1 listing, 1 buyers agency and 1 listing pending. Others in my class have been at it since June and haven't done anything. Everything is individual, but persistance, ignoring the "no's" and surrounding yourself with positive people are the key. Make sure you are working for the best broker and getting support. Start each day with 5 pennies in your left pocket. Each time you hand out a business card during the day, transfer the penny to the other pocket. When your left pocket is empty, you can go home and enjoy yourself, but not until. It really does work!. Also make sure you are getting maximum exposure, doing open houses each weekend. Trust me, I have been a corporate executive for the last 18 years, making the 6 figure income. It is difficult to "start over", but so satisfying when you actually bring a deal together and it is all for you. I feel great after putting in 60 hours when it's for ME, but was tired of doing it for someone else to watch my raises decrease each year and my demands increase.

If you need to take a part time job, but keep pursuing if you really are interested in it. But, if you are not, get out quickly.

It really is different for everyone. I followed my broker around everywhere the first year -- I learned as much as I could. It treally takes a bit of effort and having a good mentor is priceless. Good luck.

It took several years of hard work, so be prepared and good luck. -Charles

Nick, I am a new agent too, I have found some success and leads by starting with a website, which a lot of the older agents in my area don't see as a priority, it has been a way to get a foot in the door. I have had a few of potential buyers that contacted me through the website. Overall, it just takes time and exposure to buyers and sellers. Good Luck, stick with it if you enjoy it.

SEP

2007

This is not an easy business Nick and you picked the wrong time to get into it. Add the two together and you find yourself in tough times but know this, work hard and believe in yourself. Know your product and your market and try to specialize in some way to differentiate yourself form all of the others out there.

The market will someday soon we all pray and your efforts to provide good service should be known by many when that happens. I can'tay how long but trust that the universe wont let you dry on the vine if you are giving it your all.

Nick, I too am a new agent. I have been an agent since February. I was told that on average it takes about 6 months to get a check. And that's if you are marketing yourself and getting your name out there. I think that you might want to focus on contacting everyone you know and asking for business. Tom Hopkins training has taught me that most people do not give out their business to us because we do not ask. I have a an aunt and uncle who listed with me and another aunt and uncle looking for land to buy. So, I can tell you that patience and perseverance will be the key to this business. Educating yourself and learning how to make yourself a better salesperson will be the key to your success. Happy hunting.

Nick, my husband and I have been in the real estate business for 31 years and the answer to your question is not just 1,2,3, etc. Your success will depend entirely on how diligently, honestly, and intelligently you apply your knowledge. You have to realize you are starting in a "down" market and you have to be careful not to be discouraged, because the market will recover and level out. Make certain you are with a firm that provides training and mentoring for a new agent. Karen

It is different for everyone.You have to work hard in this business and be positive and focused.Stay persistent and consistent with your marketing and it will all pay off in the long run!Real Estate is better than any 9-5 Job out there!

Nick,

Real Estate is a very finicky business to grasp. It really only takes one sale to get you moving, then you have to have the right systems in place to keep the momentum going. I would have to know where you are at this point to have an idea of where you're going and how fast.

How many deals did you close last year, in the last 6 months, last month?

How's the interaction with your broker? How about your relationships with the other agents in your office?

How large is your sphere of influence? How many people do you know that are looking to buy or sell a home in your area?

What are you doing today to ensure you have sales over the next two months?

How easily do you get in front of potential clients? Do you talk to FSBO's?

There is so much involved in making yourself successful in this business. It appears so glossy and clean from the outside and on reality TV, but it's a lot of work trying to get the ball rolling. I wish you the best of luck and success.

When I first started 3 yrs ago, I teamed up with a woman who had been in the business for 20+ years. We knew each other already and her ego was not large. (that is a key with a team member) Anyhow, she covers a portion of my office charges and I pay her a portion of what I make. (I am on a 100% program with the office) Anyhow, one of the disadvantages and advantages that I see for you is that you are early on in your life and don't have the many contacts that I had, with all of my kids through the local school. What I learned pretty quickly is to get your name out there .. I devoted my energies towards apartment complexes near me for the person who is just buying for the first time. Now, that has so far, only yielded one client, however, it has more than paid for itself. And I purchased some (a little out of date looking) postcards on ebay. One time per month - at least - to the same complex. I only picked 100, because the $$ scared me.

get your name everywhere on the internet.. Advertise in a neighborhood paper - "call me for a free whatever, or run someone else's listing from the office........

The best advice I can give a new agent is to go buy the book: "The Millioniare Real Estate Agent" by Gary Keller and no matter what company you are with, read the first 180 pages and just follow step by step. The market does not determine our success, we do. Some of the strongest companies experienced the greatest growth during slow markets. By the way...we are not in a slow market...we have slow agents in our market. The agents that spend 3 hours a day lead generating, following some sort of model and doing it everyday, treating it like a full time business are making it and making it well. My wife recently got her license and in the past month she has put 4 homes under contract, already closed two and took one lisitng. It is not the market, it is all about us! Mindset is so important, but doing the same things every day will lead to Un-believable success. I have found that the people not making it right now are exactly that...not making it. You have got to make it happen...if you build it, they will come.

Work hard, play more, love more, pray more, give more.

Hi Nick,Welcome to an exciting and dynamic profession. Start up is the most difficult. I started at the peak of the 'real estate rush', but it still took 5 months before I got my first listing and another month before my first sale. Having just moved to this area made it a bit difficult since I did not have the local referral market which seemed to help my fellow realtors. Anyway, Scott Friestad has solid advice-the book is amazingly helpful. Lead generating is extremely important as is consistency in your business. Good Luck...

I, too, am new to the business, and it is hard getting started. I've gone to several listing appointments, which didn't pan out. I've worked with 2 buyers -- one of them couldn't get prequalified, the other just wasn't satisfied with anything I found for them. After watching many training dvds, one of them really sticks in my mind, it was the one where the speaker suggested that you give yourself 100 days to make it in the business, and if you aren't doing anything by then...it's not for you. I'm sorry, but I don't believe that. I've heard so many people say to me that they almost starved their first few years, but after that their business picked up and they have had a very successful business. Who really knows? I've also been told that in this business it's either feast or famine. I'm certain of one thing...it's different for everyone. Some people may have had a lot more help in the beginning than others, some work harder than others, some may have had the income to back them up while they were getting started, etc. Whatever you do...don't quit. Unless, that is, you are on a slow sinking ship without a life preserver. LOL!

It depends on you. In the beginning, you have to find out what works best. When I was a new agent 5 years ago, I had seven deals completed within the first six months. I had just moved to the area so I knew no one and had no sphere of influence. I prospected, handed out business cards to everyone I met, and built an online presence. I also quickly carved out a niche for military buyers as my husband was a pilot. You have to figure out a way to get yourself out there that will attract people. Good luck and don't get discouraged...you'll figure it out!

Hang in there Nick, Sounds like you are getting a lot of good advise. No one I read said anything about consistancy. A friend told me to pick out an ad that appears to work and stick with it for a while. Being consistant in a very inconsistant market may help. My financial guy told me when I started in January that if my company has a success plan just follow it. If the company put a lot of resources in the plan it will work. Good luck.

WORK WORK WORK...........only answer to speed is hard work. Be careful though, work smarter, not harder.

If you want to be a millionaire, hang around millionaires. If you want to be a successful real estate agent, hang around with them.

Check all activerain for good advice, it is all around you.

I got started 7 years ago as a buyer agent for my dad, who has been in real estate forever and has been very successful. I tell anyone who will listen that starting off as a buyer agent for an established agent, who is willing to teach you how to close deals and survive in all markets, is a very smart way to go. Sure, you have to put that ego aside for a couple of years but you'll build your knowledge base and your referral base before you take off on your own. Even in a challenging market, the busy agents are busy and getting busier. Just make sure it's a good fit for both of you. Good luck!

Nick it was hard for me at times too! Remember to save! I closed 5 million in transactions my first year. I thought I was on a roll and the first quarter of the second year I didn't sell a thing! There are always ups and downs.

Hi Nick, After reviewing the replies I notice only a few specific suggestions, I'm sure they will help. In my opinion the single most important factor in your success is sales ability. They don't teach it in any of the courses and you won't learn it in a book. While you need to practise the general suggestions found here it will make a huge difference to how quickly you progress if you get yourself a sales position totally devoted to learning sales basics and how to close. Good selling to you.

I agree with Scott MREA is a great book and get you the right track to success. There is no such thing as get rich quick. Please try not to spend too much money or you will be re-thinking your decision. Spend a lot of your time doing the pro-active things that generate business.

I'm finishing my first year, too. In the first year, I've sold five properties, listed three (all FSBO's), had two not close the day before closing, attended every GRI class that has come to my town, taken the two core classes ( the 2 day 1031 and the 2 day Resort and Second Home Property Specialist) for the RSPS, joined Rotary and increased networking opportunities, built and maintain a webpage Steamboathomesales.com and recently purchased sales tapes and listen to them all the time.

I definitely did not meet my goals, but I feel like I created a foundation from which I can now build .

Oh, and I had no idea real estate was so tough. If someone had told me a year ago, I wouldn't have believed them.

Nick, there really is no way to answer your question. Back in 1995 my first year I closed 16 transactions. I don't know what my results would be if I just started today. You can do it! Remember what Winston Churchill said, "Never, never, never give up."

Hi Nick, every market is different. I can't speak about the Nampa ID market, but suspect it's a fairly small place. If there are very entrenched long-time agents in that market, you're going to have to be a little more patient than if your market is untapped by experience. I've had 2 real estate careers, my second in a small town (45000 people). Long story short, better plan on 3 years and that's giving it all you have. Work on your web presence, work on your presentation, educate yourself thoroughly. Nothing speaks louder than knowing what you're talking about - WITH CONFIDENCE. Good luck.

Ooops - forgot to say congratulations on a featured post - you're off to a great start!

Nick... Keep at it and don't give up. It takes a while and in our market it may take even longer. Go after listings and ask to shadow some of the agents in your office. So many are facing the reality of the new Real Estate Market all I know is if this is what you want then go and get it, Good Luck

I agree with others....it really depends how you decide to approach your business. #1 set REALISTIC goals and work them on a daily basis. I will make X number of calls today to my family/friends. I will contact at least X number of expired/FSBO a day. Regardless of today's market conditions you can still do great in real estate. There is money to be made.

There will always be a cycle. You'll have to learn how to adapt and make changes. STAY POSITVE. As many others have said.. sorround yourself with people who have a postive attitude. Stay away from people who are lazy or complain.

Get the movie/book "The Secret." It's a great way to boost your moral. It will motivate you! Last but not least....BLOG! Since joining activerain I've received 2 leads which I've closed on. Good luck and don't ever give up.

Nick,

Just keep going! I began my real estate career right at the very beginning of what is now known as the start of the market downturn (April 2005). I didn't know we were in a downturn so I didn't act like it was. I still don't either. There are tons of agents making big money in this market, so don't worry about it and just get out there and DO IT.

The thing abour real estate...it takes time...sometimes many years to buildup a client (aka referral) base. Until this happens, you better have significant savings are an alternate source of income)...

Nick,

I too asked that of everyone upon entering "the biz". The answer I got from most everyone is that we need to give it 2 years. I was told it will take that long to establish yourself and make a reputation as a hard and honest realtor. So I am like you, trying to stay alive and work like crazy!

I figure that if I can make it in this market (northern CA- pretty dismal!) I can make it in ANY market!

Nick, I've been in the business since 1990. When I got in the business, my husband and I gave me 2 years to make it or break it and find something else. I got my license in July, 1990 and closed my first deal, a rather large deal in September. That first client was from an open house that I held for someone in the office. I also had a very good broker-in-charge who drilled into us that we needed to find a farming area and work it - I did, and I still have 2 of the same farm areas today. I became the expert in those areas. Mailers, (phone calls - back then), newspaper stuffers on Saturday mornings, some walking the area, etc. It worked. I don't really know if the market back then was any worse or better than it is now. But, I believe if you get out there and do the deal, things will happen. Good luck!

Yes, MREA! Go buy it and read it because it will change your whole outlook on getting started.

I was going to leave a poignant response, but I think everyone else here has broken down the gist of it. It takes hard work, dedication, and frankly, a little bit of luck. Don't be discouraged. If you love it, you'll make a career out of it. But if it's just a job to you, and you're happy just to get a paycheck, then you might be better off doing something else. I love what I do, and I wouldn't change it for a run of even the worst luck. Keep at it if you love it! The money will follow!

Nick; it's not an easy business.

2005 - My first 6 months; 2 deals 2006 - 8 deals

2007 (so far) - 12 deals -2 new/current listings - 3 "A" buyers looking

Everyone is different. Treat it like a REAL JOB. Get a mentor/accountability partner. Don't afraid to work with renters (they will hopefully be buyers in a couple of years). Get a Database; feed it everyday and find a way to communicate with it.

Good luck!

I think it is really up to the agent. It depends on how active you are. You can't just sit and wait for things to happen, you have to make things happen!! There are a lot of great resources here on AR, and believe me I take full advantage of them. Don't be a secret agent!! You have to get out there and tell everyone that you are in Real Estate!! Just hang in there, you will do fine. Good Luck, Nicole

Nick, if I could give you one piece of advice in this day and time, "Don't give up". This industry will turn around and things will become better. Make smart decisions and keep sharp. If I can ever help you, just reach out and ask, that is what we are here for.

SEP

2007

Nick,

I agree with so many of the things that have been said here. I don't think it's a "bad" time to get in. Now, more than ever, people need full time Realtors who they can trust and who can do a good job. It does take time and persistence to get things rolling. I would imagine that some challenge for you is that because you are recently out of college you don't have a huge base of people who can either give or refer you business right now. But....your colleagues will probably want to get something at some point. So, I'd make sure you keep that potential client base there and keep in touch with them so when they're ready, they'll know who to go to.

I worked a salaried job before getting into real estate but I wouldn't go back. I think this job has so many plusses that if you can stick it out and keep yourself motivated you'll be able to have the flexibility and income you want or need. Make sure you give your business card to everyone you can. Make sure your website is on everything you put out there. Something I would specifically suggest is buy a simple domain name (www.GoDaddy.com is who I use, but there are many others) because the one you are using is very long and difficult to remember. Also, it looks like you're using a company website; you can get a free basic website through Point2Realty that will give you some flexibility to make the website your own AND you can use the domain name that you choose.

It's great that you posted your concern. I think when business is slow we all get a little worried. Hopefully by sharing your concerns you'll keep motivated to continue forward. I wish you all the best and look forward to reading your posts.

Deb

P.S. I love that you have a MySpace link....have you also tried FaceBook?

Hello Nick:

Selling real estate can be a fun career with many great outcomes! Like any business, it has its ups and downs. When someone has an interest in getting their license, I advise them to only spend the time and money if they truly want to be in sales and are willing to learn as much as possible about the business and be a true Real Estate Adviser. When I hire Agents for my firm here in Provincetown, I will not just take any Agent, I want Agents that are going to go above and beyond giving superior customer service to the Clients. I want Agent who are interested in taking additional courses above and beyond the typical continuing education. Because, I believe, that the more education you have, if you act as a true Real Estate Adviser, and really look out for the best interest of your Client above your own interest- you will be highly sucessful! Last piece of advice; embrace technology, keep up with technology and make it part of your business!

Nick, it takes time but usually about 3 years before you are making good money, that is in any sales positon. Find a mentor and follow good systems. Market to your SOI and get out and meet people. My daughter joined my team 3 years ago and had her best year this year.

Nick,

I would like to offer you some help. I would be willing to waive an initial consultation fee and give you some "general info" if you see a benefit in what I offer I will give you a great deal with only one condition..when the actions we discuss work you be sure to give me credit and let fellow agents know that I have the ability to help them succeed. I am just starting out myself in business, I have worked the typical grind for other people for years and I am now in a position to use my knowledge and work ethic to build my own business and help people like yourself. That being said I would love the chance to help you and would work hard to help you get some things in place than can build your business and do it quite fast.

Aaron Walker

Walker Business Consulting

Nick, I am a "PART TIME" agent and am going into my 3rd year in the business and have done extremely well with lots of success. I don't believe that there is a set time frame for being a "sucess" in real estate or knowing that you "made it!" Instead you need to take each day as it comes, learn something new everyday, and make sure to prospect daily! If you do this and constantly try to keep in front of your "sphere of influence" or people that you know to make sure that they know you are in the real estate biz, I think good things will happen for you! There is no one who is going to just wake up one day and be a superstar! All of the superstars that you see had to start somewhere and they are where they are today as a direct result of years of hard work, determination, creativity, committment to excellence, and probably a little luck too! Make sure you keep in touch with your past clients and when you meet new ones be sure to start asking for referrals from them from day one!

I am a top producer in my office and have achieved this in a very short amount of time and also while having another full time career! I have my own office in my brokers office and am also a mentor to the newer agents when they first get into the biz! Trust me you must focus on "CREATING AND MAINTAINING LIFELONG RELATIONSHIPS WITH ALL OF YOUR CLIENTS" and the referrals will come!

HANG IN THERE, IT WILL BE ALRIGHT!!!

Nick - you can do it. Timing helps but is not a key factor. YOU are the key factor. Mental toughness is the key. No question. I have at time considered getting a job. But no employer is going to pay me what I'm used to, the hours I'm used to or the flexibility I'm used to. Quit wondering and get back to work. Make something happen today. :)

Nick,

I was in the same boat as you over 6 years ago when I got my real estate license right out of college! (I have to laugh because I was the youngest agent in my office and I still am today! LOL!) Anyway, as a 20-something, you are still hanging out with college friends or even running into old friends on the weekend; use this to your advantage. When you run into old friends, wait for them to ask you "so what are you doing these days?" You will be money! This is the perfect chance for you to tell them you recently got your real estate license, and let them know you are excited about your career choice. It is also a great time for you to get their updated contact info (email address or phone #). This is a great way to build your sphere of influence and contact base. It will grow slowing and eventually you will find it to payoff in the end. Remember, it's about getting your face and name in front as many people as possible!

This was one way I got started and if need anymore suggestions, email me.

Good Luck!

SEP

2007

Hang in there. you and I are going thru the same situation except im not fresh out of college. Lets hope for the best. face our fears and hang in there.

You got a lot of response from the AR community Nick. Take some of their advice and you'll end up just fine. Good luck.

OCT

2007

Thank you everyone for your advice! I really do appreciate all of your help with tips and advice. Things have been a roller coaster ride recently, but its great to read everyones opinions and it means so much to me.

OCT

2007

Does the office that you are in affect the time it can take to get on your feet?

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