Thread: question

how much should i expect to make my first year in the industry

$10 per hour.

If you figure out how much you want to make in a year, and divide it by $10 per hour, then divide that by 52 weeks, you'll know how many real hours of work you should be putting in.

Let me shine some knowledge on you. The last couple of years have been great. Now it is just good. People telling you that the market sucks are just dead wrong. The market does not suck, it is just not as good as it was three years ago. Everyone and thier mom got into the real estate industry a few years back because it was easy to make money. Now real estate agents are dropping like flies because the money is not what it used to be. Loan officers are dropping like flies because they joined in the industry for the refinance boom and forgot to develop a little thing we call a solid pipeline.

This is great for me and great for any real estate agent. I left a company for two guys that own a real estate company as well as a mortgage company. He hires realtors to become loan officers. That way we earn twice our commission. Here is the kicker. Ray and Scott provide and mentors and processors that do all the pricing and help close the loan from start to finish. I said I would try it with one deal becuase it seemed a little "iffy" at first. But my mentor helps me from te beginning to the end. Let me know if you want me to throw in the good word if you are interested.

I tell you what...I'm still new and learning the system but to be honest with you, the closing a sell is the easy part. Building the pipeline is incredibly hard, which is why I spent so much time with my Broker and online developing a system in which to get my name out there. Here in Texas the TREC is pretty tough on what you can and cannot do as an Agent but I did some door to door in my own neighborhood just to shop my name out there to people and let them know I'm just a short walk away if they or anyone they know need Real Estate help. That was almost 100 houses...you know what I got 10 sells. From those 10 I'm working on another 7 as we speak.

I know its not good to talk figures but just extrapolating the facts for my city. The Averge House in San Antonio sells for 172,xxx (according to the TAMU website) I came into Real Estate realistic expecting to make about 30,000 with a great plan and good training. Now Commission is negotiable here but it usually rounds out to my cut being 3% which on a 60-40 split will net me about 3,xxx per home. That of course doesn't factor in the amout of money I spend on fees and whatnot, but basic math from there figures about 10-11 houses to meet my projected sales...and I can honestly say that in these few months I'm already there. It all about creative advertising and being honest and loyal to your client to help yourself build a pipeline of referrals. Trust your training and you'll be fine.

My motto is and has always been, work smarter not harder...learn it, live it, love it

How much do you want to make??? Real Estate is a lucrative business if you [make] it to be. Anyone who says a dollar amount are small thinkers in this business. Do you run a race to lose or to win? Well according to your question, you're still in training mode. You know what I'm getting at?

well in my first "calender year" as a loan officer I'm going to make about 60k if I keep up with how I'm doing and that was with making no money jan, feb, march. If you remember to keep your pipeline full the sky is the limit. Try to keep things modest your first year. Just as JASON said a lot of people are falling out which is good and bad. Bad for them but good for me. I didn't get into this during the refi boom and I've had to market, network and build up my referral system. It's paying off for me now and the people who are leaving the business are leaving more clients for me to get.

NAR says the average agent make around 32K a year....Check out www.realestatecareersecrets.com if you want to learn how to make more income as a new agent