Thread: How do I get started?

I am a former REALTOR whom had my license in Austin Texas. When I decided to get started, money was tight, so I found a company that offered in house classes to prepare for the exam.

The deal was that I take the class from them, pass the exam, and then work for them after I pass the class. The good part is that there was very little money out of pocket getting started and your work with a mentor for the first 5 deals. The bad part was that they rake you across the coals on your first 5 deals, with a split of 40%-60%. That is 40% to me.

Once my 5 deals were done, I switched to a company on the other end of the spectrum which offered no support but a 90%-10% split. It was basically my own shop but I paid to hang my license with them.

If I were to do it again, I would look at 2 different companies. Keller Williams with their team approach or Exit Realty with their MLM approach.

Both these companies offer a more normal split(60%-40% or better) but each office is different, and basic support.

IF you are more of a team player, The Keller Williams program will work better for you. If you are more of a manager, Exit Realty will work for you.

Lastly, if you are more of a solo flyer, any agency with a strong split will work for you.

One more thing....make sure you have at least 1 year of money in the bank to get going. You may have deals your first year, but those profits will get eaten up by the increased car expenses, realtor expenses, website development expenses, and advertising expenses.

Good Luck.

Originally Posted by Chief Tutor

One more thing....make sure you have at least 1 year of money in the bank to get going. You may have deals your first year, but those profits will get eaten up by the increased car expenses, realtor expenses, website development expenses, and advertising expenses.

Good Luck.

Thanks. I have a full-time job that I have some flexibility with, so I'm hoping to get trained/licensed and have some time to learn the ropes before leaving my other gig and doing this full time. Hopefully what I'm able to pull in as a realtor will offset my increased expenses during that first year.

This business is challenging enough working it full time. Part-time is even tougher. You have to be extra dedicated to making it work. Having a strong spere of influence (friends, family, colleagues) can be your best asset as a part-timer. They will be probably be your best source of business.

My site www.RealPinions.com is a great place to learn about vendors that can help set you apart from the pack and also make you more efficient.

It's all free categorized information.

Some of the topics we cover:
All-In-One Management Tools
Automobile Signs
Classifieds/Listing Sites
Comps (Comparables) Identification
Deals for NAR Members
Email Enhancers/Drip Programs
Flyers
Home Buyer Sites
Home Feedback
Home Warranties
Lead Generation Systems and Contact Management
On-Line Posting Services
Phone Solutions
Real Estate Directories
Recipe Cards/Post Cards
Search Engine Optimization (SEO)
Single Property Websites
Training/Mentoring
Transaction Management
Virtual Assistants
Virtual Tours/Photography
Web Site Vendors
Yard Signs/Flyer Boxes/Flags/Lock Boxes, etc.

Having been a Rookie twice now (2 different markets) - I can tell you that there are 2 different groups of prospects out there for you to consider:

1) Immediate Business (within next 12 months)

2) Long Term Business (longer than 1 year - stats now show 90% of all buyers and sellers start researching from 1-5 years prior to making a move)

To get the Immediate Business - you can concentrate on a couple of areas:

1) FSBO's - the key here is to approach them from a consulting base vs. a salesman base. Less than 1% of the agents contacting FSBO's call more than 4 times - if you are in the 1%, you have a terrific chance of converting those FSBO's to your listings. If nothing else, you can pick up a few buyers if you work them right.

2) Open Houses - sometimes they are boring, sometimes they are gold mines! Again, if you work them right they can turn into a great source for buyers and listings. Make sure that you pick the home correctly and have good information there for people who attend the open house.

3) Floor Duty - if you have an office that has lots of incoming calls, this can lead to some good opportunities. Of course, it's a #'s game - the more time you spend doing floor duty, the more people you will pick up as clients (and sometimes you will be bored!).

For the Long Term Propsects:

1) Have a Contact Management Database that has 1-5 years worth of drip campaigns.

2) Have multiple websites to target specific markets (buyers, sellers, fsbos, reports, etc.) with drip campaigns attached to those.

If I can help further, please don't hesitate to ask or contact me (rob@agentbrokersuccess.com).

Good luck!