I could write a longer post about this, hell I could write a book about it (I even mentioned my Rookie book on the Discovery Channel YouTube.FranklyRealty.com show that I was on), but you newbies should consider something...
Discount your first deal!
Hell I don't care if you work your tail off and you get NOTHING, zilch zip. What you get it a track record. You get something under your belt. And guess what? Doing your first deal for free is FAR less stressful than doing your first deal for a "full" commission.
I know that some of you might say that it will just lead to more free deals, well that is plan B, you learn how to say no. But getting follow up leads is better than sitting on your couch with no leads.
Think of it another way... you are competing against agents that are 20 years in the biz. And your broker expects you to hold firm on commissions and "take one for the team," forget that. You might get one deal after losing 5. This way, lock your first deal and then you have at least a tad of experience to go after the other .
What other industry has a newcomer join the scene and expect to charge the same amount as their competition with no experience?
I was the N0RTHERN VA Assoc of Realtors Rookie of the year out of 1000 new agents in 2003, so I must have done something right. I even got in the Wall St Journal my first year.
As for whether to continue with the discounting model or not going forward is up to you and an entire different debate. Best of luck! If you do a freebie from this, come back and let me know.
Frank
$125M+ Personally in 04-06
2003 Rookie of the Year (NVAR)
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