Sorry, Son, You're On Your Own...Maybe

I started out part time (kept my full time gig with benefits), for the first year. Thankfully I had a buddy who was wanting to buy investment homes so I had business out the gate. Mistakes? I still make PLENTY everyday.

Susan, I have been self-employed since I was 18 and Trudy went ahead of me into real estate, so I was prepared for the roller coaster ride that being self employed often brings with it. I still think many of our customers do not realize just what it means.

Hello Susan ... wonderful post and congrats on the feature 

Susan, years back I read where anyone starting yup a business for themselves should calculate their requirements for the business with the minimum of 6 months reserves. Those reserves would be the equivalent of 6 months savings based on what ever their current gross monthly income was.  If they could have that much of a cushion, they would have a 50% chance of staying in business. The rest was entirely up to their abilities and drive.  At least this individual was willing to start off with the right mindset

Glad you were able to give him a reality check - I'd think these real estate schools would be smart to do that right off the bat.  I'm 100% commissioned as well in the lending world, and when I first started, I was surprised how fast that commission gets tossed right back into the business.

The first few months are the toughest, but the job is what you make of it.  If you are motivated you will start performing well, and seeing those larger paychecks.  

Great blog, real estate school should cover all that instead of making up a pretty picture how you can make money for everything you do. 

Have A Wonderful Blessed Day!!!

Hi Susan Haughton congrats on the feature and a well written post. 

I applaud this young man.  He has already displayed a willingness to make an awkward cold call to work on his success.  I am curious Susan Haughton  if he came to do the "internship" with your office?  It seems like he may make a fantastic agent. 

Maybe he could start in real estate doing something else, like maybe an office assistant? Get his feet wet that way? I jumped in with both feet when I started and was just plain lucky that I made it.

 Agreed, that the first step to make these phone calls shows a willingness to step outside his probable comfort zone which is a good indicator of future success in this business.

Susan -- My son in college just finished up an unpaid legal internship today and he loved it and learned so much.  He got a very good taste of what the grind is on a daily basis as well as some valuable experience.  He also had to seek out the internship himself and cold call which was part of the process.... not being handed something but rather getting it on his own. 

Were more people like this young man.  Maybe there's hope for the world after all.

I'm not an agent, but I appreciate the post!  I give this guy credit...he made the call and he wants to learn.  I like the way you handled it.

The first year is a turning point.  You either hit the ground running or you don't.  You cannot rely on who you know, because most people only move once every 7-9 years.  And if you think that they don't already know an agent with more experience, you are in la la land.  They may love you to death, but a new agent with no experience handling their largest asset? You might have to a blood relative to get that deal.  Otherwise it is a lot of new connections, time spent meeting lots of people through networking, open houses or hosting buyer seminars.  Most agents are not prepared.  Sounds like this new agent is getting proactive in learning the business.  Best of luck to him!

Hi Susan Haughton , I'm sure that if my wife had not already been in Real Estate, I possibly could have been doing something else.  She took me under her wing and showed me the ropes and in return I help her any way I can.

I started real estate to tide me over after a car accident. I  already had two successful careers as an RN and a ceramic artist.  That was 24 years ago. Some tide over...love it!