Gary Eberhart, Studying to get my Agent License

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Rainmaker
547,945
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If you're well capitalized where you can cover expenses for at least a year if you don't make a single dime, your prospects are great with what you've said. Passion is one key. Practicality is the other.

Mar 14, 2018 11:47 AM
Rainmaker
1,045,114
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Good, if you treat it like a business and work at it, instead of treating it like a hobby.

 

Yes it's true about the 1 year thing.  I believe it's something like 75% of new agents don't renew and are out after a year.  It's a hard job, especially in this market, and it can take a FULL YEAR before you see a paycheck!

 

Know that going in.  Know you will likely change companies at least twice in your career... so have a phone number, website address and email that will travel with you.  For example, we were "HugginsHomes.com" and had HugginsHomes.com email addresses back when we were with Re/Max.  When we became our own company there was zero loss of clients because they only had our info.  No brokerage trainer will tell you that, because it's not in their best interest.

 

Since you're willing to put in the time and money and have the passion for it, I suspect you'll out perform most of your market.  Stick around active rain (both blogs and Q&A) and you'll learn a ton that they don't teach you in school.

Mar 14, 2018 12:53 PM
Rainmaker
1,157,384
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

It ALL depends on YOU Gary Eberhart ! If you are 60 hour a week hard working individual you have a good chance. Your chances increace with your artistic (creative) abilities and your social skills. If you are the person who can say "If I fail it's all on ME, no one caused me to fail" then chances are you will NOT fail.

Mar 14, 2018 11:53 AM
Ambassador
2,906,233
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Spending time and money are one thing.  Being able to step outside your comfort zone is going to be critical to prospecting.  That's what makes it or breaks it for folks.  Never met a successful agent who wasn't willing to go outside their comfort zone to prospect.

Mar 14, 2018 12:23 PM
Rainmaker
2,304,926
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I can't comment on what your chances are. I've done very well financially for 25 years, but I didn't just spend "some" money to get my business off the ground. And 25 years later I continue to reinvest in my business.

Mar 14, 2018 12:02 PM
Rainmaker
4,167,168
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

If one has a passion for the real estate business and marketing is done consistently, you're sure to succeed....those who quit within a year are doing every professional in the business a great favor!!

Mar 14, 2018 12:26 PM
Rainmaker
2,561,781
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

You answered your own question.  Put in the work and do what you love and the money will come. 

Mar 14, 2018 12:23 PM
Rainmaker
641,655
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

90% of new agents never see their 2nd year anniversary. The leave the business blaming themselves and $12,000 poorer.

70% of the survivors do not exceed $40,000 gross commission income annually. Your mission, should you choose to accept it, is to AVOID the broker that gives safe harbor to agent who do so very little business.

20%  of those remaining are agents who live off their income, pay their bills on time, put a little away. If they left business tomorrow, only their broker would know. These agents & the enterprises facilitate 80% of all real estate transactions. This is the destination to which your business plan must point you.

5% have built enterprises with teams and employees and many who are dependent on them. Should they leave the lives of others would be disrupted......for about a week.

1%., the one percent in real estate' earn their money selling systems to agents. 

What are your chances? Excellent!

However, if you start without a plan....the sweet words of the broker will quickly turn bitter in the presence of disappointment.  The last part of this video is the expectation you should have when you have a plan.

Mar 14, 2018 11:56 AM
Ambassador
2,435,329
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

@Candice said it perfectly. Just remember to treat this as a full time job. Your job is to prospect, prospect, prospect 40+ hours each and every week!

Mar 14, 2018 01:50 PM
Rainmaker
202,788
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

That is actually depending on you.  Competition is very tight in DFW with many agents are competing by slashing their fees.  So you work a lot more and earn less.  

Mar 14, 2018 12:47 PM
Ambassador
1,504,664
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

The chances of making a living as a full-time real estate agent are slim.  And yet I've been bucking the odds for more years than I care to admit.

You are the variable in the equation.  If you work hard, if you have a decent network, if your marketplace is doing well, if you hire on to a decent office, and have a decent manager.... if... if... if.

Lots of variables.

Mar 14, 2018 12:27 PM
Rainmaker
326,958
PropertyMinder (AccelerAgent)
PropertyMinder, Inc. - San Jose, CA
Modern Tools for the Modern Agent

Do what you love, and the money will follow, Gary Eberhart. If you need help getting your marketing and a website up and running, let me know.  - Tim

Mar 14, 2018 12:06 PM
Rainmaker
2,827,931
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

It depends on YOU. 

Mar 14, 2018 07:34 PM
Ambassador
2,421,230
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Gary,  There are a few things you can do to up your odds of success.

1.  You're here in the Rain.  There is a tremendous amount of knowledge and tips here that can significantly shorten the learning curve.  Real estate schools (at least mine) often DO NOT teach you how to be a successful agent.  Their goal is to get you to pass the state exam.  Getting clients?  Knowing what to do once you've got them?  That's something you learn from your broker, your office mates or people here.
2.  It's not just a matter of working hard (that's a given), but being smart with your efforts.  A gerbil on the wheel works hard, but they don't get far.  Having a plan to gaining business is key.

3.  Thicken your skin.  Friends, family, coworkers from your past/present job, they're going to use other more experienced agents or friends or family.  It stings, but it's part of the business. 
4.  You're not fresh out of high school based on your picture, so as far as prospects know, you've been doing this for YEARS AND YEARS.  I'm not advocating hiding being a rookie, but don't bring it up unless they do first.

5.  How can you set yourself apart from the other 1000 agents in your local market?  Is there a niche or expertise you can work?  For me, it's patio homes an other low maintenance living choices in Cincinnati.  I just had buyers from Farmington buy a new construction condo last night.  They found me because of niche blogging.

6.  Be careful with your money.  You know how a lot of people get rich in real estate?  They sell stuff to agents!  Most of the pitches sound great, but for the most part they're just going to separate your money and send you Internet leads named I.P. Freely and the like. 

7.  Like others have mentioned, set yourself up to be independent of your brokerage.  Email, phone, website, etc.  Nothing wrong with leveraging your brokerages offerings, but don't let it be your primary face to the world.

8.  Don't be a secret agent.  Once you're active, you've got to let people know it's what you do.

9.  Listen to your spidersense.  If the back of your brain is telling you someone is going to be a waste of your time, listen, because it's probably right.  It's very easy when we need business to take on ANY business just to have some, but sometimes it's busy work with no positive outcome.
10.  Like attracts like.  If you target the low end of your market, that's what you're going to keep getting.  Find a spot that puts you at median or better price point.

11.  Study your market.  Know the stats for your primary market.  How fast are homes moving?  How many for sale?  Price points?  New construction?  What are the MUST HAVE things that buyers want and how common are they?

Look, we could keep going all night on this.  There's a lot to being successful, and what is successful for you might be different for me.  I'm a dual career guy, an engineer for 27 years and an agent for 14.  I sell 15-25 sides a year and that makes me pretty happy.  Bill

Mar 14, 2018 05:19 PM
Rainmaker
533,027
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Well Gary, I've been in the business for the past 14 years and doing very well.  You have to put the time and treat it as a business in order to be successful. 

Mar 14, 2018 04:51 PM
Ambassador
3,303,099
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Most fail, but those who work at it and get the proper training excell at it.

Mar 14, 2018 04:26 PM
Rainmaker
645,840
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

If you are willing to work hard, and even work with a mentor then you will make it. It does take passion, skill and a willingness to put your clients needs ahead of your own. If it is only about how much money you can make and how quickly you will probably be out of the business quickly as well. You will need help making it through those first months so will need a reserve.

Mar 14, 2018 01:27 PM
Ambassador
2,693,374
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

100% in my case.  ;)

Mar 14, 2018 01:08 PM
Rainmaker
2,247,032
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Its like singing. Either you can or cannot sing. Then there is the audience

Mar 14, 2018 01:06 PM
Rainmaker
3,637,429
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Gary,

Great advice from both Candice A. Donofrio and Nina Hollander .  My advice is to come out ready to do business, and liike Nina mentioned you need to invest and reinvest.  It is just the nature of all business.  A

Mar 14, 2018 12:52 PM
Rainmaker
1,690,221
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Join a Team as a Buyer Agent 

Mar 14, 2018 05:38 PM
Rainmaker
388,679
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Depends on who you ask that question. If you're the type that won't quit til you succeed you'll be fine. It gets easier as you keep doing it. 

Mar 14, 2018 04:32 PM
Rainmaker
4,501,125
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

If you doubt your personal abilities, this may not the the career for you.

Mar 14, 2018 02:50 PM
Rainer
258,930
Ken Jones, SCGREA, CRES
VRI Realty, Inc. - Metuchen, NJ
Residential and Commercial Brokerage

Gary Eberhart Before you dive into what may be water that's too shallow, you'd better realize that the 2 most common reasons for new agent failures are:

1. Expectations that far exceed their abilities; and

2. The virtual absence of professional training that is absolutely essential to becoming productive.

While some companies claim to provide "training," what they typically provide is "indoctrination."

I'd be happy to discuss this at great length with you outside of this forum.

And, no. I'm not selling anything.

Mar 14, 2018 02:02 PM
Rainmaker
1,349,738
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Please see Annette's previous question to yours. 

I would say get going ... literally try something to get in front of more people. You have to start somewhere. I would run it by someone that is more seasoned so you don't throw your money away (like with bus benches).

Mar 14, 2018 12:06 PM
Rainmaker
769,835
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

100 people get their license today and need to renew in 4 years.

60% quit year 1,

20% more never renew.

Our failure rate is over 80%, but if you know how to sell, run a business like a business and manage your money, it can be done. I'm in year 19 almost and went through the worst economy and real estate market in history, shy the Great Depression, I'm no rocket scientist but I'm trained and tenacious.

Mar 14, 2018 09:29 PM
Rainmaker
1,308,117
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

You might want to focus on successful stories instead of those who quit or barely survive. It is not competition, it is service to others. And if you genially like what you do, you'll get by and find the way to be and do well. 

Mar 14, 2018 05:57 PM
Rainmaker
1,444,754
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

It is a job, career and focused endeavor.  It is not a 9 to 5 effort.  A career is possible with work! Good luck!

Mar 14, 2018 04:51 PM
Rainmaker
342,185
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Anyone can be successful in real estate if they have:

Passion

Work Hard - Smart

Never Give Up

Invest in your business ... and continue to prospect every single day

 

Mar 14, 2018 03:13 PM
Rainmaker
2,587,967
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

You sound like you have the keys to start, you need need money, a will to work hard and some patience. Choose the right broker. Then work hard at getting clients and selling homes

Mar 14, 2018 02:14 PM
Ambassador
1,988,624
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Rate of attrition is sky-high.  

Mar 14, 2018 02:06 PM
Rainmaker
1,853,848
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Helps if someone has a steady income while you hone your skills. Or savings to tap into until you get some healthy listing inventory or have sales experience under your belt. Time management, dealing with people and long hours with commission sales. You only get paid if the deal crosses the closing finish line. Good luck Gary Eberhart ! The job changes daily and you will reinvent how you do it to survive and prosper!

Mar 14, 2018 12:56 PM
Rainmaker
2,562,259
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Find a mentor and absorb like a sponge especially if you have some holding power. That way you can earn while you learn!

Mar 14, 2018 12:49 PM
Rainmaker
2,397,796
Richard Weeks
Dallas, TX
REALTOR®, Broker

Chances are high if:

you have a business plan

manage your time

prospect every day

Mar 14, 2018 12:26 PM
Rainmaker
505,369
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

The chances are favorable IF you consistently look in the mirror, have a plan, secure a mentor, get out of your comfort zone & out from behind your desk.  Best wishes for happiness & success!

Mar 15, 2018 04:45 AM
Ambassador
3,856,536
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gary Eberhart - if you do the right things, you survive and thrive as time goes by. 

Mar 14, 2018 09:19 PM
Rainmaker
3,509,896
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

1% as most willnever make it as they do not have the drive to do so

Mar 14, 2018 08:18 PM
Rainmaker
1,450,194
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

If you are willing to work hard at it, learn your market and make yourself available you can be a successs.

Mar 14, 2018 07:09 PM
Ambassador
3,586,359
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

20% chance. It's the 80/20 rule. If you work hard you can be in the 20% and become very successful.

Mar 14, 2018 05:24 PM
Rainmaker
657,114
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Good luck! Don't let others discourage you if you are truly passionate and think you can make a go of it, but do have a contingency plan in mind.

Mar 14, 2018 03:03 PM
Rainer
381,186
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

You can make a living at it if you are willing to do the work. There are no short cuts to take if you are in it for the long haul. 

Mar 20, 2018 07:00 PM
Rainmaker
3,437,806
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It does take persistance, and lots of effort, along with a big bank account until your first deal.   Many think it is just plain easy! 

Mar 16, 2018 02:26 PM
Ambassador
2,643,873
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

How much are you willing to put into it?

Mar 15, 2018 09:25 AM
Rainmaker
475,178
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

100%

It will work if you do

Mar 15, 2018 09:20 AM
Rainmaker
1,319,812
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Gary Eberhart Real estate is a business and most new agents drop out because they are under capitalized. Some money won't make it happen. You have to invest in your business for a good return.

Mar 15, 2018 06:31 AM
Rainmaker
4,147,942
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Excellent, if you are willing to work hard.

Mar 15, 2018 06:01 AM
Rainmaker
3,912,539
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good.

Mar 15, 2018 05:54 AM
Rainmaker
1,143,750
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

You already received some wonderful answers. I just wanted to wish you well! It would be fun, should you choose to accept the challenge, to see a monthly blog from you on how things are going (both good & bad!). Best wishes.

Mar 15, 2018 03:23 AM
Rainmaker
447,558
Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

Passion is great, if it's sustained. If you have passion for it today, but are easily distracted, bored or broke in a couple months it can be tough.  

This is a people business that deals in Real Estate.  Learning about real estate is fine, but learn just as much about people, who they are, how to attract them, how to understand and communicate effectively and you have a chance to be successful. 

Mar 14, 2018 07:38 PM
Rainmaker
2,519,317
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

They say 85% drop out before 5 years in the business.

 

Mar 20, 2018 08:42 AM
Rainmaker
262,101
David Martin
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality

Most do fail... partially it is the INDUSTRY model. The entry bar is VERY low...this suits brokerages', local, state and national assoications' business models. This contributes in part to the high failure rate.  As does the public perception of EASY money.

Even so if you do your research and go in eyes wide open about typical results, can handle setbacks, rejection etc. Then you can succeed best of luck. Gary Eberhart

Mar 19, 2018 04:33 PM
Rainmaker
110,212
Ben DeHaven
Haven Realty & Investments - Winter Haven, FL
Proudly serving Winter Haven & Lakeland, Florida

What are the chances you're going to prospect like your career depends on it? Thats the answer

Mar 15, 2018 09:04 AM
Rainmaker
2,823,445
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Chris Ann Cleland nailed this one!

Mar 15, 2018 05:03 AM
Rainmaker
314,005
Lynda White
Bluegrass Homes & Farms Realty, Agent Know How - Louisville, KY
Admin. Mgr., Keller Williams Realty

I would add that you must genuinely like people. I quit after 2 months because I felt like I was too salesy, contacting people, even cousins, I hadn't talked to for years. It felt so fake and I'm sure they felt it too. Now a few years later, I have learned to talk to people and like them for who they are, so who knows what the future holds. But I know this, I would not want to be a buyer's agent for a team. 

If you are just in it for the money, it's not going to work. The amount of money you make will depend on the effort and time you put in. It's not just a part-time side gig. 

Lastly, they do not teach you everything you need to know in real estate school. If you can find a real estate brokerage that provides training, that's a plus, but they won't teach you everything either. You learn just by getting out there and doing it, and you will learn something new every day you work on it. 

Mar 21, 2018 07:56 AM
Rainmaker
831,134
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

6 months of reserve. Treat it as a serious business. 20% survivor rate in Northern CA the successful top 2-5% active agents earn 7 figures income in SFBA. That being said, #1 in America is a discount broker. So are public companies like Redfixx. They even gave back leaving little for agents in their wallet.

Mar 21, 2018 07:21 AM