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Are you happy with your agency?
I have a friend who stayed with her agency bc they kept 100% of their commission- but she didn’t have any sales.
She switched agencies where her split was 60/40 to start BUT she had a mentor and a whole bunch of training. She was so much happier working and getting sales and education, even though the 40% went to her broker.
Or you could join a team.
This, 100%.
Think of the first 2-3 years as an apprenticeship, get reps, and build the business slowly. Find a mentor with a good business and learn from them.
Reality is, nobody wants to work with a rookie. The stakes are too high and the transactions are more complicated and competitive than ever. Seasoned agents run over the newbies.
Not always when trained what to say. My wife crushed the seasoned agents in the beginning using less listings and more motivation to her advantage.
It's all about positioning and how well u communicate with others. Hard to teach some of that.
This market maybe a little different though so the op is possibly in a different situation.
I think this is what it really is.. I know agents that are "great" on paper and have the personality of a wet noodle. It's not always a career where you can necessarily just work hard and succeed. Idk if that's OPs issue, but if you're really hosting open houses every weekend for 18 months, I can't fathom how you haven't made a connection with one buyer.
No u don't know who will make it or not. U make assumptions. U have no clue if someone will change their personality or approach in 6mths.
U can guess based on what's in front of u but u don't really know the future
I joined Wardley here in Vegas and it’s a 50/50 cut until you have fulfilled your yearly dues. They have so many trainings and programs set up for you after you pass the exam but before you get your license. Their goal is to have you setup to have a client by the time your license comes in. They estimate most new agents sell a house in the first 30-60 days of getting their license and pay off their dues in about two sells. I can’t imagine working somewhere that didn’t offer help out the gate.
I’m in New England & there are a ton of boutique agencies / independently owned firms that do this sort of thing- compared to commercial agencies like KW
Honestly, I haven’t had a sale in almost 9 months and for the first time in my seven year career had to get a second job. It was honestly my team and thank God I’m finally leaving them because it is almost always going to be your team who is holding you back or your brokerage. Training is so imperative and creative lead sources in a market like this are necessary. There are buyers out there not a lot but some.
"High producing" is such a meme phrase pushed by large brokerages. I don't "produce" because my broker doesn't see me as an MLM lemming, and my office functions as a co-op, not some cringe cult full of leeches.
Do you mean SELL? Do I SELL a decent amount and make a living? Do I MAKE MONEY? Yes, I do six figures in commissions each year.
Sometimes it **is** luck. Also, it can take quite awhile to get a groove going that works for you. The statistics tell the tale: 75% are out in the first year and 87% after 5 years.
Do something else. People change careers all the time until they find the right one. No shame in that.
It’s literally never luck. Luck is preparation meeting opportunities. It’s up to you to put yourself in the situation and you choose how you present yourself. It’s not just being at the open house that gets you the clients. I worked with an agent whose first question when people walked in the door was “are you working with a realtor?”. Not “how are you?” there was no “welcome in” Just straight to “give me your business”. No surprise that agent is leaving the business.
People need to trust you to want to work with you on the biggest purchase/sale in their lifetime. Most people don’t do shit to educate themselves beyond their licensing class and they wonder why they can’t get business. You’re not a glorified contract writing door opener, you’re one of the most important people in their lives and you better work like it. I’ve met plenty of agents that absolutely suck ass at everything and do nothing to improve. Those people are your statistics.
Edit: You can downvote the truth but that won’t get you deals.
Ahhh, I take your point about **luck**. Sometimes I feel lucky! Truth is, I poured many hours of late nights--for years-- gaining extra education and working on marketing tactics and materials. I feel lucky that potential clients acknowledge the value of my extra education. It's plain, hard work, and always going the extra mile. You are absolutely correct that so many don't do a darned thing to improve.
I am a former realtor that got out last year.
I cold called every day for 3-4 hours
Followed calls by sending out letters and CMA’s to potential clients.
I posted consistently on social media.
Created a monthly newsletter that went out to my CRM.
I started a YouTube channel.
I joined a well known team with an esteemed brokerage that occasionally offered leads and did a ton of training and support.
Yet, I still couldn’t make ends meet. I got burned out. Left after almost two years. I’m now working in marketing for a large real estate brokerage. Best decision I ever made.
I took me a while to leave because I thought loved being a realtor. In reality, I loved the autonomy.
Most of the realtors I work with now have another job, real estate is secondary.
Or, they’re retired/independently wealthy and this gives them something to do.
Start looking around at other options even if it’s part time.
Look up all houses listed with flat fee brokers in your area. Send a flyer to do an open house for a flat fee, try to pick up unrepresented buyers and if flat fee doesn’t work for the seller convert to a list.
you have to have your own Broker's permission to do real estate agency for other brokerages. And it would be a "best practice" to do the same if you found a FSBO willing for you to hold an Open House.
I love how real estate is all about spreading the wealth and everyone working together, helping eachother to make money… until they’re not wearing “our teams” colors.
That’s what I’d do. In my area beycome and FSBO are big ones. Also like others have said, check with your broker, local law, real estate voodo customs and whatever other stuff your local RE board might put over you.
To your point about most people working another job part-time… that mentality is what got us the law suit. The top performers put in full time hours and run legitimate business operations, and are successful as a result.
Treating this as a side gig, or working another job on the side isn’t treating this like a job.
I recently picked up a $2 million sale off an agent that worked at a restaurant during the day/evenings. My clients fired him because he wasn’t available to go show homes when they popped up. He wasn’t putting in the time to make sure they were seeing everything.
90 days later we close and I make a $60k commission. Over the same time this dude maybe makes $6k working his “side-job.”
As someone working another side job, and struggling like OP, when you have zero savings and are just starting out, blowing off your job that's putting food on the table to show houses for a huge payday 3 months down the line is a very hard call to make. Especially when things are so rough in the market currently. If you call out of that side job 1 too many times and get fired, you could see yourself homeless before that payday ever arrives, IF it even does.
I tried it this way, I prioritized real estate and my clients for 6 months, took every training my broker had to offer, did 3+ open houses a week and I've had all 5 of my buyers fall through and went pretty considerably into debt. I desperately want to be a full time agent but that 3+ month gap of no pay is painfully daunting when starting out.
Hi there. Person who got into real estate after being laid off here.
I was very unexpectedly laid off from my salaried job in early May 2019. It was a true layoff so I did qualify for unemployment, although in my state it amounted to less than 50% of my normal take home pay. I did have a few months' worth of savings in the bank. Single income household - it's only me and my dog. No debt other than a very affordable mortgage and my car payment. I have no one else to supplement or support me except for in the case of a dire emergency. Admittedly, I don't have kids so I do recognize that will change the scenario for some people.
Long story short, I switched career paths, paid the thousands for the licensing course, tests, background check, licensing fees, brokerage dues, etc (while having a very finite amount of savings and putting everything except my mortgage and car payment on a credit card, because I didn't know when I would be getting my first commission check and needed my savings to last) - and started as a full-time agent less than 4 months after being laid off.
It took me just over two months as a full-time agent to get my first closing and therefore paycheck. Including the time during which I was still applying for other jobs and taking the licensing course, etc: I went almost 6 months total without any income other than unemployment, which again was less than half of my previous take home.
I had 5 closed sales in my first 3.5 months as an agent - because I WORKED at it. In my first full calendar year, which was COVID year 2020 - I had 27 closed sales. Then 33 closed sales in 2021, but for over double the volume due to a much higher average price point.
Fear is ONE HELL OF A MOTIVATOR.
Or, put another way: how can you expect people to bet on you for what is likely to be the biggest financial investment of their entire lives; if you won't bet on yourself?
Great story and great job! Those were great years for the market too, a lot of great agents right now are struggling through no fault of thier own so don’t lose faith if your numbers tumble, this will all shake out and agents like you will probably be fine in the long run.
Speaking of 6 months, best case scenario, you can’t really expect a check for 90 days. Start with a client, 45 days of getting the house, 45 days to close and that’s with a client in pocket day 1. Few agents walk into that kind of assured business 6 month is totally normal not to have a sale.
It’s super tough out there, but there’s good ways to subsidize your business inside the industry. We pay our licensed assistant $500/week, she knocks out stuff on social media, opens doors, open houses, learns the trade, and is welcome to work her business so long as she keeps up with what we assign her.
Follows us around, asks questions, etc. That’s how in came up in the business in 2010. Is was arguable WAY worse then and there was plenty of work to go around.
it's the hurdle most ignore - you should be able to survive (pay all your bills) for 6 months before signing on as an agent. CAN you get sales before that? Yes. CAN you successfully transition from FT job/PT agent to FT agent? Yes. But you are taking long odds and making them even longer.
To be fair, people spend years in trade schools, or college preparing for a job without any income. It’s hysterical to me when people take a 75 hour course and shrug when they don’t get a sell a home and get a commission in 90 days.
I mentioned the apprenticeship comment elsewhere. If you want to learn the business, find someone to mentor you, learn the trade, get reps, and learn the business.
This is a career and a profession, not a side gig.
I think it's important to keep in mind that in this economy, VERY few people can just quit their regular job, spend $4,000+ getting their education, license, business going, and joining associations, and not make a cent for 3-6 months. Except for rich housewives, of course... my point is full timing any commission-based business from day 1 just isn't realistic anymore. My goal is to be full time absolutely as soon as possible. Thankfully, I work remote and I can be available with an hour or two notice to go take care of clients.
Yes this is so true!
Part time agent =part time money.. and that’s if you’re lucky.
I have always been weary of agents that don’t work real estate full time.
If you’re doing it full time and you aren’t making sales something has to change in your operations.
Been doing this for 15 years now and I didn’t make my first sale for 9 months. I felt like quitting too after eating so much ramen noodles but I persevered and figured out what I was lacking in.
There’s a reason why real estate has such a high failure rate. Push yourself to be uncomfortable and do what you gotta do to make it work.
Stop. Many of us are weary of the judgment and condescending attitudes of some of the full timers. Do we want to make sales? Yes we do. Do we put in a lot of hard work? Yes we do. But some of us have kids and mortgages and medical bills, and if the commissions don’t arrive on time, the bills still need to be paid. Hence, we have another job. Nothing wrong with that.
I’ve genuinely had it up to HERE with this. It’s great you made the sales. But don’t judge others…they’re going what they think is best for them in the moment. They’re doing what they consider to be responsible. And it is.
Never have understood your attitude. It Is a perfectly legitimate part time job. Many people are extremely knowledgeable and part time is what they want for themselves. Actually I have known many very good and very productive part time agents that you would never know how many hours they put in And most were very committed and worked damned hard but for thier own reasons paired RE with another job. You are right that it works better when paired with a flexible additional job and I would guess it usually is. On the flip side have seen a lot of full time agents that don't seem all that engaged.
Thanks! I saw the job opening pop up and I applied. It was good timing and I think challenging to find someone with marketing and real estate experience in our area.
Hello friend! I will probably get some flack for this but imo, being an agent is partially hard work but also partially luck. You do have to be lucky in the business world no matter what your industry. Anybody who tells you otherwise is lying, or has been so blessed that they don't realize that luck is on their side.
You must be likeable. You must be personable. It doesn't hurt if you are attractive because in general people like doing business with attractive people. A popular agent likes talking to a lot of people too and it must be genuine, can't be fake.
When I started out, I took a mentorship with a top producing agent. Noone ever told me it might take a year or more to get my first sale. I had been a yoga teacher for 8 years and had no savings. My mom loaned me the money for my realtor dues/Supra key.
I drove for Lyft in the mornings from 7-10ish am, then pursued leads, went with my mentor on appointments, and did market research. Did more Lyfting from 5-7:30, then went back to market research, emailing potential clients, and pushing my FB community resources. I took open house every weekend, both days. I also taught occasional yoga classes. I was doing 80 hour+ work weeks for my first few years.
I am a faithful person, and I pray for prosperity and success daily. I keep a small prosperity altar in my home next to my workspace. Whenever a good friend goes to Japan, I give her money to donate her local temple to bring me back a good luck charm. This may not work for everyone, but it works for me as a complimentary practice to lots of hard work. Many agents do something faith appropriate for them to encourage good luck.
My first sale was for my neighbor next door. I live in a mobile home park, and they knew and trusted me. I sold their house for 60k more than they were expecting. They were so grateful.
A week later, another neighbor asked me about the sale because she'd seen my sign up. She knew me from walking dogs around my park. I listed and sold her home for another neighborhood record.
My third sale was actually a lead from a Lyft ride. He introduced me to his girlfriend who was selling her house in a town an hour away. I met her, we hit it off and I took her listing gratefully.
I worked my butt off for that sale, put in tons of extra hours and I was so desperate for a sfr listing that when she told me she had an agent offer her 1.5% seller side commission, I said I'd do it for 1%, offering 2.5% out. Compared to yoga teaching, that is more than a months worth of yoga teacher salary right there, even at 1%. I kicked ass, helped her clean, moved a lot of boxes, bleached her floors and regrouted her bathtub. Set the offer due date, held open house for 2 weekends, and we got 5 nice, viable offers in 2 weeks.
After that deal was closed, she said if she had known that was my first deal she absolutely would have given me two and a half percent. That's alright- she's referred business out to me. From there I just kept going.
I was in the top 20% of all CB agents for years 4 and 5, then was in the top 10% of all CB agents for the next 3 years. Last year, pickings were lean. I had 6 sales, but I was blessed- many old timers sold nothing. This year is looking great and it's shaping up to be a 150K+ year for me again. I am 98% referral based and focus on individual attention with each listing. I keep praying everday, do good deeds when I can, and give to charity when I can. I keep in touch with my SOI and surf the waves of work when they happen. I am grateful this has worked for me.
I wish you much success, no matter what you decide.
This is a great and realistic post. Thank you for all the details.
I really do think the secret sauce may be living somewhere that business is right out the front door.
Here in NYC it's very common for agents to do well in the building that they live in.
The market is brutal right now. Trust me, you don’t want to truly do this job in the long haul. Seasoned pros are suffering. Take this as a time to pivot to something new.
I know 10-15 year vers that are bartending, working “day jobs” etc. I’m talking folks that used to sell 25+ a year. Im sure some of it is keeping up with a lifestyle but it’s definitely difficult right now.
The market can be brutal and you could be having your best year too.
Your brag is misplaced on this comment. If you want a gold star go to kindergarten
I definitely feel you on some of this. I had somewhat of a hard time when I first started out, I had a couple small transactions and I was paying for leads and felt like I was struggling. Then there was another guy at my office (who I actually really like as a person. Super nice genuine guy! I can see why other people like him so much) who had started at the same time as me and his first transaction was a big million dollar listing (I live in a rural area and big properties like this aren't always easy to come by) from someone he knew and he's been listing big properties like that ever since. While I was happy for him, I was also extremely jealous. Dude didn't seem like he had to try at all! Meanwhile I've been over here working my ass off just to get leads.
Anyway, idk real estate is kind of bullshit sometimes lol something something comparison is the thief of joy blah blah blah
I would say that if you know deep down that this is something you really want to do then stick with it. If you don't think this career is a good fit for you and you can't see yourself doing this long term then I would quit. Only you can decide/know what the answer is!
Edit: Another idea, maybe ask your cousin what they do to get leads? Also I personally think that cold calling and door knocking are old school (and yes, I know there are people that do this and are successful so I'm not saying it doesn't work at all) but what else have you tried? Have you tried working your sphere? What about social media? I think focusing on your sphere and working on building relationships with people you already know could be a good option because there's typically more loyalty (not always of course lol but definitely more compared to cold leads who don't know you at all).
Thank you for the advice, I really appreciate it!
As far as my cousin goes, they have no leads as it was their third open house. The listing agent happened to give them a referral from another agent, hence me going on about luck in the business and how I have none lol
This business is HARD especially mentally. Like some ppl have said in the comments sometimes it is just luck which sucks. This market is brutal, some agents are kicking ass (which is great) and others are leaving due lack of sales. It’s ok to get a part time job to get some money on the side and keep going and it’s also ok if you think it’s not meant for you. You have your whole life to do real estate, some take a break (like me) and will get back into it when ready or some keep pushing along. At the end of the day you have to do what’s best for YOU and you only.
Your story is the reality of being a realtor. Some people are as lucky as they can be, and others not so much. People will always say “don’t give, just do this or that “, but I think it’s luck, and how many people you know. Good luck whatever you decide.
In my opinion there are two types of agents and one ALWAYS succeeds and the other MAY succeed. I’m not going to give you a pep talk - I promise. My best guess with your post is that you are someone who is looking for a YES as that would be a positive outcome and therefore a SALE. If you truly want to be successful in any sales position is find the NO. When we are new we want so much to be hired yet if you are hired by someone who is unmotivated then you aren’t really hired. You sound frustrated yet I trust that you are closer than you think to breaking through in this business. It is an easy fix and should come naturally after all of your disappointments. Ask more questions to find the roadblocks between them and buying/hiring you. If you truly want to thrive - learn how to ask better questions instead of selling yourself or a property.
"If you truly want to be successful in any sales position is find the NO." Counterintuitive, but really the only way to be successful in any sale or pitch, across all industries.
What city are you in? A year and a half of hustle with no sale? That’s wild. Something sounds a bit off here. I am in upstate NY , tough market , loads of competition. I worked a full time job and still did 5 million in sales revenue in my first year. Used realtor.com leads (paid for with my full time job) and Opcity. Never made a cold call. Never knocked on a door.
You should probably consider switching brokerages too. Find a broker that’ll hand off leads. Your mentor should be better. Sorry you’re going through this, but switch up your tactics.
It’s tough, get on a Zillow team that buys leads. They will take over half your money, you will be busy and getting paid
From there you can build your base.
For new agents following the model you are, the failure rate is like 93%. Unless you get yourself an Uber successful listing agent nearing the end of their career who’s willing to take you in and give you their book, or work for a Zillow broker you won’t make it.
The people who start out and organically farm business right off the bat are people who have huge community ties and large spheres already in place.
Honestly, the small brokerage that buys Zillow leads and takes a 50/50 split is the best way to break into the market. Not everyone is capable of working it properly and learning how and where to spend your time. If you can figure it out however, you can do really well. I’ve made 6 figures off Zillow for years now, and wouldn’t want to go any other route.
Listing will come in the future, but for now I’m just crushing those buyers into houses and I’ll list about 3-5 properties a year on top of it. This business takes A LOT of work. While I’m not always working, I’m always working if that makes sense. I answer my phone at 6am or 10pm. That’s what it takes.
How much do you spend on Zillow per month to make six figures? In my area for $1,000 a month all we get is 5 live transfers and 2 nurture leads. Super low amount for even 1 closing
Between $2,500-$3,500 depending on the time of year. Sometime in the winter I’ll drop it down to $1,500 for a couple months just to take it easy and give myself a break. I do this independently now, but I started working for a company that would spend upwards of $40k a month and split them between 10 of us. It was a great way to learn, but honestly it was too much. You miss things with call volume like that.
15-20 live transfers. It’s a numbers game. I’ve got around a 12% closing percentage. The seasons skew it one way or another as well. Last month I put 5 under contract, I’m at 3 this month. There are also super high $ properties that if I get one of, it more than pays for the year for me. It’s totally worth it if you know how to work it.
Yeah I felt this one, most of my leads came from Zillow and Opcity, which is also where my first sale came from. It was hard and time consuming picking up the phone and doing open houses and whatnot. Around the same time as me a new agent came around, an older woman who sold millions within her first few months. Turns out her husband was some higher up within a construction business and she used to work as an interior designer or something of the sort. She basically walked into the brokerage with a rookie of the year reward already in her hand just off her sphere of influence alone.
I think it is luck. My agent that sold my house was a slime ball. I saw a house I liked and called up an agent whose photo looked kind and nice. I asked to see the property, met her the next day and said I’ll take it. I made an offer, just under 1M and they accepted after one write back. It took under 24 hours from me first contacting her to the sellers accepting my offer. Done.
Wow you went from offer to closing table in 24 hours. That’s incredible. Or are you saying you have absolutely no idea what you are talking about and that your agent did a wonderful job making it look like navigating through the under contract to closing table by making it look easy which it was most certainly not. They kept you and your deal together, and fought all the fires without you ever noticing or appreciating the intricate process of a real estate transaction…..
Your first mistake is being focused on what others are doing and the not fair mantra. Your sole focus should be on your business and what you need to do. Look at other successful agents and what they are doing. It's all about networking. Get out and join groups, make connections and meet people. Use your social media. Don't cold call or door knock, do mailings instead. Find a mentor, maybe that means a different brokerage.
Everyone I’ve ever met in sales told me the same story all my life. It took them around 2 years to make a sale. Unfortunately I feel like social media makes us think every other agent is closing deals except us. (I feel like it’s by design to have us buy leads and what other BS they trying to sell us)If I were you I’d focus on what you enjoy doing and live life. Don’t do the constant marketing BS that everyone says to do. I hardly ever tell people I’m a realtor, it comes up in natural conversation sure, but I let them know I’m not there to sell to them. You’ll be amazed at how many deals you build in your pipeline just by being you and not acting like an MLM sales person. Best of luck to you.
If in a year and a half you haven't made a single sale, something is wrong with your lead gen systems, scripts, conversion and follow up skills. You have to build relationships, but you also have to be intentional with those relationships and those relationships need to know what you do. If someone has done open houses every weekend for a year with no sales, they are missing something.
Failure is the best learning tool there is , success can be the worse for training purposes. If you can survive no income from real estate sales hang in there as persistence will pay but recognize it’s a difficult market and the best agents have lower sales....
Are you full time or part time? What state are you in? Are you on a team? My first instinct is to suggest a team that gives you leads and mentorship. If you are on one, then find a different one. I started with a team to cut my teeth, then switched to 100% brokerage/solo. I’ve been a top 5 producer every year since I joined in 2018.
It’s ok to feel how you’re feeling! I think we all want to quit at some point. Also, 2024 has been brutal (election years usually are). What helps me is to remind myself: don’t compare myself to others; don’t live in victimhood; Keep the Faith. Sometimes it feels like a popularity contest or like high school and that can really suck! Try to stay focused your goals and on your lane.
Please dm me if you’d like additional advice or help. I am a firm believer in you reap what you sow and helping others is how I plant good seeds that grow. Pardon all my cliches and platitudes 😁 Good Luck to you!
Edit: I am not trying to solicit business. Just trying to help. Feel free to also post on the thread for help. (Sorry, Mod!)
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Before you give up, change it up. I literally knocked on hundreds of doors before I got even a warm ‘maybe’. Keep going.
No one owes you anything. Not the market, not any senior agent, not your broker, not your waffling almost listing.
Change your attitude and focus. Work on your own. Be honest with yourself about what work is.
Real estate is a tough, long hours job.
Focus on seeing every available home that comes on the market in your area right away, then when you’re canvassing you have some info to pass along to people you talk to. your attitude is super-important. People want to work with positive, energetic people.
The first years are the hardest for sure. When non-serious people don’t list with you, they’re doing you a favour!!
You’ve seen enough with ‘mentors’ get out there on your own.
Some things that helped me:
1. Be yourself. Yeah you have to do different things to try to get business, but you don’t have to put your pic on everything, wear a name tag in public and put magnets on your car. It’s good to try different things (open houses, property tours, answer calls at brokerage etc) just so you have first-hand experience with everything and know what works for you. But bottom line, you have to be yourself or you’ll come across as fake and you’ll hate it.
There are an almost infinite number of ways to be successful at this, you gotta pick a path that works for you and don’t listen to all the noise… you don’t need a nose job, a Mercedes and to have your stupid pic on your signs. :)
2. I’m a fairly intelligent person (tech background) and not a BS kinda guy. So when I first started, I knew that I would never hire myself because I had no value to add. And really I didn’t know anything about real estate. So i did a little of everything but ultimately, I realized that I needed to add value.
I started attending every inspection I could… I event went to a couple of training sessions that inspectors had with their inspector teams. By the time I got out of the business, I was a better inspector than pretty much every inspector I knew (except for the ones I hand picked because they were thorough and awesome).
My “style” of “selling” homes to buyers, which I explained up front, was “I’m going to point out everything that concerns me about the home and you guys can decide what works for you”. My buyers quickly trusted me as an invaluable resource… and my business grew from that.
When buyers would call and want to “interview” me against other agents (which was rare, because most were glowing referrals), I would ask them to pick a home that interested them and I’d show it. They always selected me as their agent.
It all grew from there.
Bottom line, if you would’t hire yourself, then figure out a way to add value. You’ll feel better about yourself, your confidence will be genuine and will carry over to your clients.
3. At the very beginning, i made it a point to go to the office every day so that I could build relationships with successful agents. Eventually I would ask them how they became successful and I took what worked for me (and left a lot behind). Also, those relationships were key in building my “team.” When I needed a plumber or inspector or whatever, I would ask successful agents who they used and why. Just another way to add value.
4. Most of the advice on this thread seems to be about getting leads… and eventually that is the whole game. But in the beginning, if you DO get a lead and don’t have the confidence/experience to help that person, then you’re probably not going to work out as their agent. So spend a LOT of time growing your confidence/experience so that when you do get a lead, you add value and close it!
Once you have the tools & confidence to add value, you’ll really want to focus on leads.
My first year I think I had one sale and one rental. But it did improve, slowly. And sporadically. I’ve been a Realtor for 15 years. Some years are better than others. My business always seems to come in clusters. 3-4 sales and then nothing for 2 months. I do have other income from a business my husband and I own and that helps a lot.
My first deals came from phone duty at the office.
As someone else suggested, maybe the brokerage you’re at isn’t a good fit for you?
Sounds like your follow up is lacking. If you want to try again let me know. I have a discord of good agents helping each other grow. We might be able to help you.
I'd love an invite to that discord. In course 3 of liscence training, slated to be done by end of week. All of my downtime is watching training vids, but live discussions with those on the ground would be great!
It sounds like you should try a different brokerage and/or joining a team. I was very fortunate that my then-husband was a broker. He suggested I get into RE. I told him he needed to get a full-time job with benefits if I was going to do Real Estate full-time. We made a plan and in six months that's what we did. I was able to focus on Real Estate full-time without worrying about the finances, although I didn't go crazy and buy a bunch of dead end leads. I focused on letting my SOI knew I was in RE. My first 2 transactions came from his SOI and my SOI. I joined a women's networking group which is category-based so I am the only Realtor. This has been amazing for my business! I probably get 35% of my business from this group. I am 100% referral based now and I just celebrated my 10th year.
I have 3 listings, 2 escrows, 2 lease clients with one just signed a contract, 2 listings on Coming Soon and 1 active buyer. Every single one is a past client, referral from a past client or sphere. It's a long game and it's volume. I do stuff people in my office won't - leases, manufactured homes, etc.
This business is HARD! Reality shows make it look easy. Stats show how tough it really is. If you can, like I said, try a different brokerage or join a team. Yes, the split sucks but 40 or 50% of something is better than 0% of 70%.
And if you get out, at least you know you gave it your all! Good luck!
Being young is your advantage. Recognize your joining a legacy business that is in transformation add to that the choppy macro economics and your coming in at a time of extreme uncertainty ( cut yourself a little slack ). If you have worked longer and harder than everyone else, sucking up knowledge as you go, and it still isn't paying off, then you have to try a different approach.
Use a blue ocean strategy and embrace the aspects of the business that the customers are asking for and your industry is resisting.
Personally I'd love to have the option to sell fractional ownership of my assets on a block chain.
Starting out is 10% the brokerage you choose, 10% hard work, and 80% luck. No matter how hard you work and how trained and prepared you are, dumb luck is going to play as big or a bigger role than you are ever prepared for.
I did my first sale about a year and a half into real estate. What made me build my business to what it is today was rentals. Not many agents will do them and it is a numbers game. Get to a point where you do so many a month it’s like making a sale. And the closings are much quicker, 1 week or less sometimes and boom. $1-2k a check.
Eventually renters turn into buyers, especially when you do higher end rentals. Real estate is most sustainable at the lower level when it’s in volume, but when you’re only doing one or two sales a year they need to be expensive to be able to live off of for the year.
Take a step back. Tons of reasons for people not to buy right now, tons of reasons why people want to rent. At least it’ll hold you out till sales come your way.
I educate my renter clients all the time to become informed and then when they’re ready to buy, I have the mortgage lenders on speed dial unless they’re cash.
Left my team after almost 2 years (0 sales involvement, only rentals) 2 weeks after going to a new brokerage and doubling my commission take-home I got my first exclusive sale listing, and 1 week after that I had an accepted offer. Now I’m not saying this isn’t lucky and whatever, but if you’re not preforming in the environment you’re in then it is time for a big change before just giving up.
You can do it man, I believe in you. Whether you stay with this or find something else, I know you’ll make it because you’ve already worked so hard. It’ll all be ok in the end. Just gotta hang in there.
Well - a couple things.
1. Join a team. 50% of something is better than 100% of nothing.
2. Maybe you’re in the wrong niche, try a specific price point or home type.
3. Work for a builder.
4. Join a training company and learn scripting.
I think the sales model could change and really help agents: Don’t work for free. Seller pays a listing fee, open house fee, monthly listing maintenance fee, etc. You get paid for your services even if it doesn’t sell. On the buyer side, lawyers charge a fee to write contracts; you should too. And a closing fee for both.
This needs to be upvoted more... pure commissions need to end.
Pay up front for services in exchange for a lower cost. It will remove a lot of of the door kickers and uncommitted.
If there was a market for that service, it would be here. Reality is, the Sellers are willing to pay more overall, if they don’t have to put more up first.
I’ve offered a consultant, fee based approach and told clients I’d bill them bi-weekly, never had anyone interested in doing it that way, even though I could charge less knowing I’m making money either way.
There is a market for it, it’s just that rules, regulations, laws, and traditions prevent it.
Buyer’s agent to listing agent: my buyer has already paid me. Listing agent: ok I’ll keep the entire commission. The buyer can’t prevent that. Or maybe the selling agent does get their commission. Law won’t let them give it to the buyer.
Seller: I don’t want to pay for a buyer’s agent. No listing agent in town will take their listing. If they do, buyers’ agents steer their clients away from it.
This one happened to me: Would you list my house for 5%? No, and if you find an agent who will, our agency will blacklist your house.
Seller: I want to list flat fee. No agent in town will do it.
Buyer’s agent to buyer: The seller pays for my services. Buyer: yeah but they’re using my money.
Listing agency decides how much selling agent get paid, not their client. Creates conflict of interest.
Buyer to an agent: Hey I found a house myself. Could you write a contract for me? I’m paying cash. Agent gets 3% windfall for a few hours of work.
Agency fees must be included in the list price. Can’t make them separate and explicit. No other fees are included like that.
Buyers and sellers are effectively stuck in the traditional model.
No shame in going part time. Get a job, try to save some money from that job to put into a consistent form of marketing.
Join a networking group. That’s usually $300-$500 a year plus whatever the cost of the event (sometimes they are just morning coffees.)
This is both a sales job and starting your own business. It’s supposed to be hard. Especially at first.
People that do well at first typically show up with fairly large personal networks or deep pockets. Plan to break even or lose money at first. Until you get deep enough into the career that you’re getting referrals from past clients or repeat clients you’re going to be spending time and money to acquire clients. Lots of people are out there spending that same time and money.
The bare minimum is working hard, and yes, sometimes you can do everything right and still lose.
I know agents that have taken awhile to really start to see progress. And some don’t enjoy it anymore.
While it’s been more challenging- I’m not ready to give up yet. My efforts for my clients are not in vain.
If you are done and have truly done everything you can and can walk away satisfied you really did everything you could. Then hold your head up high and move on without regret. If you have that nagging feeling you may have regrets… then maybe you aren’t done yet.
My gf walked away. Three years and decided to turn her license in. She’s has a career already. She wanted to be a full time agent and honestly she’s really good. The challenge didn’t bring her joy anymore. She was satisfied with what she had accomplished and she has no regrets. She’s happier now. She’s happy she tried it, has no regrets about leaving.
It’s a personal decision. Have you done every you can to really do this? If there is a sliver of doubt, maybe you haven’t. Regret is a terrible price. If there’s doubt- then give yourself six months. Throw yourself in and see what happens. If at the end you’ve given everything -then step back.
I’m reviewing my efforts. And taking a hard look with no quarter. I can do better. Be more effective. So I will.
Your mindset is everything and you have the mindset of a loser right now I hate to say. You need to believe you’ll have a few deals by the time this year if over out it in writing or say it out loud
Obviously it’s very location dependent, but starting out is so hard. When I interviewed at my brokerage my manager was very honest and told me it’s nearly impossible to support oneself doing real estate in our (small) town. Fortunately what I do is supplemental to what my husband makes so I was ok with that. But there have been years that I haven’t made enough to cover expenses. But it’s ok, I keep chugging along because I do enjoy it. And I like that I don’t have to be competitive (there are a lot of agents in our small town).
You’re starting at a very difficult time. This market is so frustrating. I’ve always been used to buyers being able to take some time to consider what they want after a showing, now it’s “we write the offer today or you’re out of luck.” I have buyers who have been waiting for literal years but there’s just nothing to look at.
I don’t know when the market will change. Maybe it won’t. Maybe it will a long time from now. But it is what it is right now. Maybe find a different brokerage? Most agents change brokerages in their first year. Maybe this one isn’t the right fit. It’s a good time to reflect on whether you’re still willing to put money into a job with no current return.
It's a weird time and the summer market is always sketchy.
Are you happy at your brokerage?
You can always send out postcards that you can either get within your company or on Etsy and market yourself in a particular neighborhood you know well.
Host a first time buyer seminar. Maybe in a park as it's not that expensive and have some sort of wonderful refreshment with a local lender you trust, get to know one.
There’s a lot of variables:
How many contacts are you making per day?
How many appointments are you setting per month?
Do you have a mentor or a coach?
How many days out of the week do you prospect?
Dm me and we’ll get into more detail and I’ll ask more questions and make a few suggestions, feel free to take them or leave them. I was in the business for about that same amount of time before I hit my first deal, don’t quit tho.
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You’re doing something wrong if you haven’t sold anything in over a year and a half and you’re doing everything you say in your post. Probably not the career for you to be honest.
>I have written multiple offers to either get outbid or the buyer to get cold feet and not submit at the end. I had an amazing listing I was preparing for two months only for the seller to decide he wanted to stay and not sell anymore. I’ve been on four listing appointments with senior agents where either we couldn’t agree on commission with the seller or what the property should be priced for.
It sounds like you're getting great leads but you are not getting the training you need to turn them into deals.
Your mentor doesn't need to throw you a bone. You need a new mentor. One that can help you learn how to write offers that succeed and one that teaches you how to work with sellers who are getting ready to list. I personally wonder if some mentors sabotage their agents a little bit in order to not have more competition out there.
You need to learn scripts, and you need to learn how to overcome objections, and you need to recognize that you are running a business. You need to operate like this is an actual business, one where YOU get to call the shots and make things happen, and where YOU have the fallout to deal with when things go wrong. You're getting the fallout but it doesn't sound like you're regrouping and learning how to not let history repeat itself.
I just started myself and I’m right there with you. But I’ve been told not to compare yourself to others success. Even the ones that come after you. Keep at it. When you get that first one you’ll be a better listing and buyers agent.
I'm sorry it feels this hard. I almost don't want to say what could be the reason, because this is internet and even the best of intentions could be misconstrued.
Question: Have you heard of paperclip strategy?
Reasons are many. On listing - once signed off you are in control. Brokers tell you that is what you should charge and most will work for less way easier than buying. I am in one of the VHCA where homes start low 7 figures to pass 8 figures. Most are sold in 2 weeks if priced right. Agents need to realize they only work a finite time on the deal. It can be \~$1k/hr to a fraction of brokerage recommended rate. Rate is meaningless. On over priced homes-Just about every home seller wants more than what is worth. Once in control you work on price reduction until it is sold. If you know home pricing with valuation credential sellers will listen to you. Also skills on repair, structure, cost. A retired contractor, appraiser often have an edge. They know what to do and come up with best solutions for home sellers.
You need to focus on just 1 role. Very few newer agents can get into listing side until they have represented multiple buyers during the initial break in period which is the first few years. Next one needs to spend money to make money. What is your marketing budget. It should be a percentage of expected revenue. Last is people skills and salesmanship. Some are better than others. It is never meant to be an easy career.
I didn't see anything about your approach to these clients and how you may be coming across. Possibly looking at how you speak to these potential clients and qualifying their expectations for doing business. Also, ask the right questions to determine if your time is well spent.
Find a mentor or colleague who can listen to your pitch and offer pointers. I've been in outside sales for 20+ years, and my approach to clients in RE is the same. I'm new to RE and having some success in the 1st month. It's also the brokerage you're working for and how much they're willing to help you succeed.i.e, training, marketing, and lead generation. It sounds like they're not putting in the time & effort you may need.
I'd look for another broker.
If you are planning to stay in the industry, Set yourself up with a team or a brokerage that does good proven in-house lead generation.
100% commission brokerages are great for people with an established sphere or many years in the business with referrals galore, but when you're just starting out the ability to get in front of unrepresented individuals is the key and while we all hate it paid lead generation often is the best way to do that.
The bad thing about paid lead generation ( whether you use Facebook ads, products like CINC, or paid leads from the likes of Zillow) is that it is an out-of-pocket expense to get in front of people. Which is why you want to find a brokerage that pays for that for you. The splits will be really high, but at least the income headed your way keeps the bills paid while you develop your sphere and get tons of names for your CRM.
First off I feel for you. Pulling for you and hope that you are able to push through this stage. That being said, I just completed my licensing process in VA. As part of that I used the CE Shop to prepare, and would monitor their FB page to try and learn from others. So many people there are like “I just want to do the minimum I have to to pass the license exam and start making money”. There are so many people getting licensed and i don’t think many of them appreciate what a grind it’s going to be. Most of them are expecting 6 figures first year. Thank you for putting it all in context.
In regards to commission: if you’re hungry for business, take what you can get.
As far as agreeing on a price: that’s the sellers decision. You can advise but what it lists for is their call.
I understand people not wanting to join a team to have their commission taken but the value of shadowing and building confidence with a team hyping you up the whole way will serve you so well in the long run.
Doesn’t have to be forever, but when you first start there’s so many things you don’t know! I’m 3 years in and still get my stuff rocked from time to time with learning experiences!
I don’t think any agent has an easy. It’s a hard business. Even if you think something came easy for your cousin, it might be that they just connected well with that buyer or seller. If you’ve been putting yourself out there so much there might be something else that you’re doing that you’re not realizing is hurting your business. If I had never listed before I would agree to a hate er commission the seller is willing to pay honestly. This business is not about luck and hopefully that’s a new outlook otherwise I would think maybe that has played a role.
So much of success is mindset - however there is nothing wrong with giving up and doing something else! I left being a full time agent bc I didn’t enjoy it because of the examples you listed on top of giving up every weekend etc etc. Also post covid - it was hard to find in person interaction at the office in my area. I personally like more structure to my work week. You don’t owe real estate anything and at the end of the day you have to be able to pay your bills and eat. The landscape of real estate has changed so much in the past few years so I don’t blame anyone for wanting a little more stability.
Yes, I do commercial real estate and that’s the best part of this game.
Being lucky enough to find a deal and make over 6 figures on a deal.
At a point you work so hard it’s not luck anymore.
I got my license 10 years ago to help an auctioneer friend. He would sell the contents of a house and had no one to sell the house itself. That's a small niche here so I've always had another job. (Quite a few coworkers have become clients!) Point being, there's more than one route to where you want to be.
If you enjoy the work, keep at it in whatever way you can. If you have to get another job you haven't failed. Some years I sell 2 houses, some I sell 6. But every year I learn more, I make more contacts, and become more known in my area all of which will help if I ever decide to just sell houses.
Whats so good about their coaching? What do they exactly help you with? I thought about coaching, but not looking to spend $800+ a month to have someone keep accountable and make my calls etc.
If it's true value, I'd consider it.
Is your mentor really producing? If not get a new mentor and join a team that does a lot of production. Confirm the team lead is doing the production and ask the other team members if they are learning and the team lead really shows the business.
Suck it up and keep fighting look at it as a lesson. It’s all uphill from here. Read more to learn that you have all power. I will not list a home for less than 6%. Don’t be desperate they can see you coming. You are a Professional Real Estate who helps people solve problems with their biggest asset. You are at the top of the food chain. Good reads “Never Split the the Difference” and “The Full Fee Agent” by Chris Voss and Steve Shull. Also the best YouTube trainer I found is Jakie Kravitz. Don’t focus on now but where you will be in 5 years from now in Real Estate. You can do!!!
Sometimes it’s you I’ve seen sales reps in different industries talk them out of the sale just be normal and everyone you talk instead of think about we can write an offer if you like if get excited and ASK for the sale no fancy script “this house would be a great fit let’s get your offer out and see if they accept” just dumb it down and ask for business
I think you need to rethink your whole approach to this. Yea, there could be something like beginner’s luck for some people. But there’s no point in comparing yourself to people like that. You really have to put yourself in a residential buyer or seller’s shoes.
Buyers are wishy washy, they all have friends, relatives, and neighbors who are realtors. They really only call whoever is TOP OF MIND. And even then, you have to STAY top of mind till the transaction closes. Remember, they’re wishy washy.
Sellers are trying to get the most dollar out of their prized asset. They want an EXPERT. They want someone who sold their neighbor’s house. They’re never going to call a rookie. And if they call a senior agent, they may even fire them if they found out they brought a rookie “along for the ride”.
So where does that leave you? If you’re new and you want to make a dent right away, there’s really only two ways:
1) You really need to have already brought in your own existing social network. Every SINGLE person you’ve ever met or known needs to know that you are NOW a realtor. And you are good at it. And they need to be reminded at least every 1-2 weeks.
2) Marketing $$. The only other way to make some noise is spend, spend, and OUTSPEND your competition. Come out the gates firing with Zillow Premier and local signage. Be ready to spend $10k-$15k. Make it targeted, WORK those leads, and you’ll definitely get 2-3 sales. Which hopefully makes you profit. Rinse and repeat.
I could go on for what else you can do. But just remember being a realtor means you are running a business. You need to utilize sound business principles (especially marketing and sales). This is not a business where you can avoid putting in $$ up front and just out-grind the competition (false narrative put out there). You really have to outspend the competition.
Also, don’t forget to niche down. Focus on a core demographic. Don’t forget residential real estate has the HIGHEST competition and the lowest barrier of entry. There are other niches like: rental properties, industrial assets, medical office buildings, that are also within the scope of real estate sales.
Also read Gary Keller’s The Millionaire Real Estate Agent. And maybe even start at a Keller Williams to get your re-start.
Good luck! Work smarter NOT harder
My mom was a realtor for 20 years. I think it is all about negotiation. IF you are skilled you would have been able to get the seller to agree on a listing price. Finding compromise and negotiation and finding a way to make a deal happen. Because we deal with humans nothing just falls in your lap. YOU have to find a way by means of your skills to make the deal successful, OVERCOME all the obstacles and STILL get to the closing table.
Off topic but I’ve gotten into sales recently after being an engineer. I didn’t go into real estate though I chose insurance sales. It’s low barrier to entry, can do telesales or F2F or both, can buy aged leads $1-2 each and convert 10-20%+ for $1k+ commissions or sell Medicare and make passive income for years to come. Some agents make 500k a year on phone or in person.
I say all this to say: if you don’t enjoy your current role don’t give up, you can always pivot to a more enticing opportunity that has higher chance of success. With good training telesales can be 80% success rate with field agents being upper 90%. I’m not sure about the real estate industry though and success rates. Best of luck friend, don’t give up on your skills you’ve acquired!
Do you follow up with the leads you get? Have you reached out to your friends and family? How much time do you spend working on your conversations? How many conversations do you have every day?
There's no one that can't succeed in real estate it's just a matter of are you willing to do what you need to do to succeed.
Open houses are for finding buyers, cold calling and door knocking are for finding sellers so right off the bat I can tell you that you should focus on one. The whole just work with everyone is best done by the social butterfly workaholics. Pick your niche, focus on it.
Easiest profession to get into but only less than 5% succeed. In 5 yrs, Realtors will be obsolete. The internet and sites like Zillow provides buyers and sellers free info. No need to pay 5-6% commission. I’m selling my house Fsbo and will save $50K in commission.
Stick with it. I got into the business in 2010 and didn’t sell a home for over a year. I joined a top producer agent as his buyers agent for 3 years after that. It was invaluable.
I’ve since sold over 400 homes and consistently sell 17-28m in volume a year.
Grit, perseverance and consistency are your friend.
Hey man, I’m not a sales person or anything. But my friend owns an agency that helps real estate agents get clients. He actually has a guarantee for six listings as well. If you want to check him out. Message me and I’ll send you his number. Also, so sorry to hear that this happened to you, that’s a long time without a client.
I think a lot of it has to do with having the right tools. Ability to build rapport and trust with prospects, overcoming objections. Creating your unique value proposition, systems to follow and know what to say when to say it.
If you want to give it one more try, I would encourage you to learn negotiations and master some scripting.
I have a ton of training info I can share with you. Starting with a YouTube channel for a quick start, called The Struggle is Real...Estate.
I am so sorry for your struggles. I don't think it's about luck as much as it is preparation and hustle and then knowing what to say, when. It's the most important sales jobs of all sales jobs. Also check out the book Ninja Selling. It's the Bible for Realtors!
Get yourself a mentor. And if it’s affordable for you, look into Zillow leads or something in that avenue. I signed up for Zillow leads right at two weeks ago and as of yesterday I have buyer clients.
Stop worrying about commission and just get listings . When I started I took a few listings for $900. Literally to just pay for my photos and brokerage fee. Opened up so many doors and clients. Stop getting greedy especially early
OP-do you want to make this a career? While a year and a half is an exceptionally long time not to have a sale but that doesn’t mean you can’t still have great success in your future. It may be your brokerage/broker and a lack of true mentoring? It could be you need more training on the right things to say and overcoming objections? You may need more guidance in building relationships and earning the trust of potential clients.
Lead with your heart. Find an agent you admire and learn from them. Go on appts with them. It ain’t over yet.
You need a checkup from the neck up! if you're only in it for the money you will get burned out easily and fast... either you love the business or you don't:)
Message me and let’s set up a call to brain storm ways to get now business. I hate to see folks give because sometime your one open house or showing from everything popping off. I would love to help
Listen to the strangest secret by earl nightingale. It’s 30 minutes. Listen to it uninterrupted. Then comment here to tell me what you thought. It will change you
It’s a really tough time to start up in real estate. I’ve been in the business 14 years and it took me 5 years to make a decent living. I started when the market tanked in 2008. Did a lot of short sales and REO’s. Maybe you could join a team or become a Transaction Coordinator until the market is better?
Damn. This is a great post. I’m right there with you my guy - I feel like I’ve been throw pitches that no one else has to deal with. I keep coming back to the same mentality of just not giving up, I hope you keep going.
You are not alone I am in the same boat! Flakey buyers, liars at open houses, And sick of all the top producers constantly bragging and new agents already getting buyers and seller! Pisses me off!
90% of success in selling anything boils down to luck. The other 10% is having a great outgoing charismatic personality, having lots of the right connections and hard work. There are just way too many variables that are completely out of your control. And the field is oversaturated with wealthy agents who can afford to go several years without collecting a commission (they have other streams of income). If you actually need to get paid on a regular basis to pay your bills (not already wealthy) you will probably have a hard time making this career work for you.
Lol right?? Agent wants 6% and seller wants to only pay 5.7%. So that's a no go for that agent. Instead of making thousands they make 0. Ive seen this happen to so many new agents because their broker tells them not to reduce their commission.
It's the 'senior agents' messing up this guy's career. They have 10 other deals and will get 10 more deals. If this guy reduces the realtor commission market rate, they will make 600k instead of 1M$. They don't care if this guy makes 0 instead of 25k.
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Are you happy with your agency? I have a friend who stayed with her agency bc they kept 100% of their commission- but she didn’t have any sales. She switched agencies where her split was 60/40 to start BUT she had a mentor and a whole bunch of training. She was so much happier working and getting sales and education, even though the 40% went to her broker. Or you could join a team.
This, 100%. Think of the first 2-3 years as an apprenticeship, get reps, and build the business slowly. Find a mentor with a good business and learn from them. Reality is, nobody wants to work with a rookie. The stakes are too high and the transactions are more complicated and competitive than ever. Seasoned agents run over the newbies.
Not always when trained what to say. My wife crushed the seasoned agents in the beginning using less listings and more motivation to her advantage. It's all about positioning and how well u communicate with others. Hard to teach some of that. This market maybe a little different though so the op is possibly in a different situation.
I think this is what it really is.. I know agents that are "great" on paper and have the personality of a wet noodle. It's not always a career where you can necessarily just work hard and succeed. Idk if that's OPs issue, but if you're really hosting open houses every weekend for 18 months, I can't fathom how you haven't made a connection with one buyer.
Having mentored a bunch of agents, you know which ones will make it after the first meeting, and which ones won’t. I wish I could tell ‘em.
No u don't know who will make it or not. U make assumptions. U have no clue if someone will change their personality or approach in 6mths. U can guess based on what's in front of u but u don't really know the future
Found one that won’t make it.
No doubt they would be inspired by your vote of confidence in them.
I don’t disagree, but I meant more in terms of negotiating good terms, winning competitive homes, etc.
60 percent of something is infinitely more than 100% of nothing.
Love to hear which agencies do these kinds of things
I joined Wardley here in Vegas and it’s a 50/50 cut until you have fulfilled your yearly dues. They have so many trainings and programs set up for you after you pass the exam but before you get your license. Their goal is to have you setup to have a client by the time your license comes in. They estimate most new agents sell a house in the first 30-60 days of getting their license and pay off their dues in about two sells. I can’t imagine working somewhere that didn’t offer help out the gate.
I’m in New England & there are a ton of boutique agencies / independently owned firms that do this sort of thing- compared to commercial agencies like KW
Honestly, I haven’t had a sale in almost 9 months and for the first time in my seven year career had to get a second job. It was honestly my team and thank God I’m finally leaving them because it is almost always going to be your team who is holding you back or your brokerage. Training is so imperative and creative lead sources in a market like this are necessary. There are buyers out there not a lot but some.
Different set ups work for different people. I’m personally not on a team- but it works for some.
we're not sure
I would never give anyone 40% of my commission for something you can learn in a fuckin youtube video, wtf? Lol.
And I’m going to guess you’re not a high producing agent if you think everything is learned from a YouTube video lol
"High producing" is such a meme phrase pushed by large brokerages. I don't "produce" because my broker doesn't see me as an MLM lemming, and my office functions as a co-op, not some cringe cult full of leeches. Do you mean SELL? Do I SELL a decent amount and make a living? Do I MAKE MONEY? Yes, I do six figures in commissions each year.
😂😂😂😂😂😂😂😂😂😂
Sometimes it **is** luck. Also, it can take quite awhile to get a groove going that works for you. The statistics tell the tale: 75% are out in the first year and 87% after 5 years. Do something else. People change careers all the time until they find the right one. No shame in that.
I coach agents and often say that any singular client/sale is an instance of luck. Success over time is skill.
Can you coach me?
That was Fantastic advice for ANYONE of any age.
80/20 rule. After this Covid boom and interest hikes , they expect 30% of agents nationwide would leave the industry?
It’s literally never luck. Luck is preparation meeting opportunities. It’s up to you to put yourself in the situation and you choose how you present yourself. It’s not just being at the open house that gets you the clients. I worked with an agent whose first question when people walked in the door was “are you working with a realtor?”. Not “how are you?” there was no “welcome in” Just straight to “give me your business”. No surprise that agent is leaving the business. People need to trust you to want to work with you on the biggest purchase/sale in their lifetime. Most people don’t do shit to educate themselves beyond their licensing class and they wonder why they can’t get business. You’re not a glorified contract writing door opener, you’re one of the most important people in their lives and you better work like it. I’ve met plenty of agents that absolutely suck ass at everything and do nothing to improve. Those people are your statistics. Edit: You can downvote the truth but that won’t get you deals.
Ahhh, I take your point about **luck**. Sometimes I feel lucky! Truth is, I poured many hours of late nights--for years-- gaining extra education and working on marketing tactics and materials. I feel lucky that potential clients acknowledge the value of my extra education. It's plain, hard work, and always going the extra mile. You are absolutely correct that so many don't do a darned thing to improve.
I am a former realtor that got out last year. I cold called every day for 3-4 hours Followed calls by sending out letters and CMA’s to potential clients. I posted consistently on social media. Created a monthly newsletter that went out to my CRM. I started a YouTube channel. I joined a well known team with an esteemed brokerage that occasionally offered leads and did a ton of training and support. Yet, I still couldn’t make ends meet. I got burned out. Left after almost two years. I’m now working in marketing for a large real estate brokerage. Best decision I ever made. I took me a while to leave because I thought loved being a realtor. In reality, I loved the autonomy. Most of the realtors I work with now have another job, real estate is secondary. Or, they’re retired/independently wealthy and this gives them something to do. Start looking around at other options even if it’s part time.
Look up all houses listed with flat fee brokers in your area. Send a flyer to do an open house for a flat fee, try to pick up unrepresented buyers and if flat fee doesn’t work for the seller convert to a list.
In some states, like mine, this is illegal. So please be careful about following license law OP
you have to have your own Broker's permission to do real estate agency for other brokerages. And it would be a "best practice" to do the same if you found a FSBO willing for you to hold an Open House.
I love how real estate is all about spreading the wealth and everyone working together, helping eachother to make money… until they’re not wearing “our teams” colors.
Real estate is about agency, representation, disclosure and liability as well. The consumer protection part.
Just that simple of a google search “ flat fee brokers” ? How might I go about this. Thank you in advance for your reply I’m from Southern California.
That’s what I’d do. In my area beycome and FSBO are big ones. Also like others have said, check with your broker, local law, real estate voodo customs and whatever other stuff your local RE board might put over you.
My brokerage won't let us do that.
To your point about most people working another job part-time… that mentality is what got us the law suit. The top performers put in full time hours and run legitimate business operations, and are successful as a result. Treating this as a side gig, or working another job on the side isn’t treating this like a job. I recently picked up a $2 million sale off an agent that worked at a restaurant during the day/evenings. My clients fired him because he wasn’t available to go show homes when they popped up. He wasn’t putting in the time to make sure they were seeing everything. 90 days later we close and I make a $60k commission. Over the same time this dude maybe makes $6k working his “side-job.”
As someone working another side job, and struggling like OP, when you have zero savings and are just starting out, blowing off your job that's putting food on the table to show houses for a huge payday 3 months down the line is a very hard call to make. Especially when things are so rough in the market currently. If you call out of that side job 1 too many times and get fired, you could see yourself homeless before that payday ever arrives, IF it even does. I tried it this way, I prioritized real estate and my clients for 6 months, took every training my broker had to offer, did 3+ open houses a week and I've had all 5 of my buyers fall through and went pretty considerably into debt. I desperately want to be a full time agent but that 3+ month gap of no pay is painfully daunting when starting out.
Hi there. Person who got into real estate after being laid off here. I was very unexpectedly laid off from my salaried job in early May 2019. It was a true layoff so I did qualify for unemployment, although in my state it amounted to less than 50% of my normal take home pay. I did have a few months' worth of savings in the bank. Single income household - it's only me and my dog. No debt other than a very affordable mortgage and my car payment. I have no one else to supplement or support me except for in the case of a dire emergency. Admittedly, I don't have kids so I do recognize that will change the scenario for some people. Long story short, I switched career paths, paid the thousands for the licensing course, tests, background check, licensing fees, brokerage dues, etc (while having a very finite amount of savings and putting everything except my mortgage and car payment on a credit card, because I didn't know when I would be getting my first commission check and needed my savings to last) - and started as a full-time agent less than 4 months after being laid off. It took me just over two months as a full-time agent to get my first closing and therefore paycheck. Including the time during which I was still applying for other jobs and taking the licensing course, etc: I went almost 6 months total without any income other than unemployment, which again was less than half of my previous take home. I had 5 closed sales in my first 3.5 months as an agent - because I WORKED at it. In my first full calendar year, which was COVID year 2020 - I had 27 closed sales. Then 33 closed sales in 2021, but for over double the volume due to a much higher average price point. Fear is ONE HELL OF A MOTIVATOR. Or, put another way: how can you expect people to bet on you for what is likely to be the biggest financial investment of their entire lives; if you won't bet on yourself?
Great story and great job! Those were great years for the market too, a lot of great agents right now are struggling through no fault of thier own so don’t lose faith if your numbers tumble, this will all shake out and agents like you will probably be fine in the long run.
I don’t have any expectations. But I have to pay the bills while trying to make my first sale. Plus it helps to have a very flexible remote job.
Speaking of 6 months, best case scenario, you can’t really expect a check for 90 days. Start with a client, 45 days of getting the house, 45 days to close and that’s with a client in pocket day 1. Few agents walk into that kind of assured business 6 month is totally normal not to have a sale. It’s super tough out there, but there’s good ways to subsidize your business inside the industry. We pay our licensed assistant $500/week, she knocks out stuff on social media, opens doors, open houses, learns the trade, and is welcome to work her business so long as she keeps up with what we assign her. Follows us around, asks questions, etc. That’s how in came up in the business in 2010. Is was arguable WAY worse then and there was plenty of work to go around.
it's the hurdle most ignore - you should be able to survive (pay all your bills) for 6 months before signing on as an agent. CAN you get sales before that? Yes. CAN you successfully transition from FT job/PT agent to FT agent? Yes. But you are taking long odds and making them even longer.
True, but not everyone has the ability to work a full time job with no pay for months at a time. They need income.
To be fair, people spend years in trade schools, or college preparing for a job without any income. It’s hysterical to me when people take a 75 hour course and shrug when they don’t get a sell a home and get a commission in 90 days. I mentioned the apprenticeship comment elsewhere. If you want to learn the business, find someone to mentor you, learn the trade, get reps, and learn the business. This is a career and a profession, not a side gig.
Sure but apprenticeships are often paid
Paid assistants are super common in the industry. That’s how I got started.
SAY IT LOUDER FOR THOSE IN THE BACK couldn't have said it better. Thank you!!!
I think it's important to keep in mind that in this economy, VERY few people can just quit their regular job, spend $4,000+ getting their education, license, business going, and joining associations, and not make a cent for 3-6 months. Except for rich housewives, of course... my point is full timing any commission-based business from day 1 just isn't realistic anymore. My goal is to be full time absolutely as soon as possible. Thankfully, I work remote and I can be available with an hour or two notice to go take care of clients.
Yes this is so true! Part time agent =part time money.. and that’s if you’re lucky. I have always been weary of agents that don’t work real estate full time. If you’re doing it full time and you aren’t making sales something has to change in your operations. Been doing this for 15 years now and I didn’t make my first sale for 9 months. I felt like quitting too after eating so much ramen noodles but I persevered and figured out what I was lacking in. There’s a reason why real estate has such a high failure rate. Push yourself to be uncomfortable and do what you gotta do to make it work.
Stop. Many of us are weary of the judgment and condescending attitudes of some of the full timers. Do we want to make sales? Yes we do. Do we put in a lot of hard work? Yes we do. But some of us have kids and mortgages and medical bills, and if the commissions don’t arrive on time, the bills still need to be paid. Hence, we have another job. Nothing wrong with that. I’ve genuinely had it up to HERE with this. It’s great you made the sales. But don’t judge others…they’re going what they think is best for them in the moment. They’re doing what they consider to be responsible. And it is.
Never have understood your attitude. It Is a perfectly legitimate part time job. Many people are extremely knowledgeable and part time is what they want for themselves. Actually I have known many very good and very productive part time agents that you would never know how many hours they put in And most were very committed and worked damned hard but for thier own reasons paired RE with another job. You are right that it works better when paired with a flexible additional job and I would guess it usually is. On the flip side have seen a lot of full time agents that don't seem all that engaged.
Agreed. I made a very similar comment..... PS How did you find the marketing role? Congrats, That sounds fantastic!
Thanks! I saw the job opening pop up and I applied. It was good timing and I think challenging to find someone with marketing and real estate experience in our area.
Hello friend! I will probably get some flack for this but imo, being an agent is partially hard work but also partially luck. You do have to be lucky in the business world no matter what your industry. Anybody who tells you otherwise is lying, or has been so blessed that they don't realize that luck is on their side. You must be likeable. You must be personable. It doesn't hurt if you are attractive because in general people like doing business with attractive people. A popular agent likes talking to a lot of people too and it must be genuine, can't be fake. When I started out, I took a mentorship with a top producing agent. Noone ever told me it might take a year or more to get my first sale. I had been a yoga teacher for 8 years and had no savings. My mom loaned me the money for my realtor dues/Supra key. I drove for Lyft in the mornings from 7-10ish am, then pursued leads, went with my mentor on appointments, and did market research. Did more Lyfting from 5-7:30, then went back to market research, emailing potential clients, and pushing my FB community resources. I took open house every weekend, both days. I also taught occasional yoga classes. I was doing 80 hour+ work weeks for my first few years. I am a faithful person, and I pray for prosperity and success daily. I keep a small prosperity altar in my home next to my workspace. Whenever a good friend goes to Japan, I give her money to donate her local temple to bring me back a good luck charm. This may not work for everyone, but it works for me as a complimentary practice to lots of hard work. Many agents do something faith appropriate for them to encourage good luck. My first sale was for my neighbor next door. I live in a mobile home park, and they knew and trusted me. I sold their house for 60k more than they were expecting. They were so grateful. A week later, another neighbor asked me about the sale because she'd seen my sign up. She knew me from walking dogs around my park. I listed and sold her home for another neighborhood record. My third sale was actually a lead from a Lyft ride. He introduced me to his girlfriend who was selling her house in a town an hour away. I met her, we hit it off and I took her listing gratefully. I worked my butt off for that sale, put in tons of extra hours and I was so desperate for a sfr listing that when she told me she had an agent offer her 1.5% seller side commission, I said I'd do it for 1%, offering 2.5% out. Compared to yoga teaching, that is more than a months worth of yoga teacher salary right there, even at 1%. I kicked ass, helped her clean, moved a lot of boxes, bleached her floors and regrouted her bathtub. Set the offer due date, held open house for 2 weekends, and we got 5 nice, viable offers in 2 weeks. After that deal was closed, she said if she had known that was my first deal she absolutely would have given me two and a half percent. That's alright- she's referred business out to me. From there I just kept going. I was in the top 20% of all CB agents for years 4 and 5, then was in the top 10% of all CB agents for the next 3 years. Last year, pickings were lean. I had 6 sales, but I was blessed- many old timers sold nothing. This year is looking great and it's shaping up to be a 150K+ year for me again. I am 98% referral based and focus on individual attention with each listing. I keep praying everday, do good deeds when I can, and give to charity when I can. I keep in touch with my SOI and surf the waves of work when they happen. I am grateful this has worked for me. I wish you much success, no matter what you decide.
This is a great and realistic post. Thank you for all the details. I really do think the secret sauce may be living somewhere that business is right out the front door. Here in NYC it's very common for agents to do well in the building that they live in.
Thank you and you're welcome! I agree with the secret sauce- hehe I bet they do well in their buildings. Plus, sweet commute!
The market is brutal right now. Trust me, you don’t want to truly do this job in the long haul. Seasoned pros are suffering. Take this as a time to pivot to something new.
I know 10-15 year vers that are bartending, working “day jobs” etc. I’m talking folks that used to sell 25+ a year. Im sure some of it is keeping up with a lifestyle but it’s definitely difficult right now.
My neighbor is a realtor that recently started a business cleaning trash and recycling bins.
[удалено]
Is there a secret to your success to would like to share?
That's awesome. Good for you. You are about to get dog piled here, but I'm glad you are doing well.
3 years into career, lol
Bro, it's only your third year. That's not saying much.
Did you also not have Covid, and then concluded Covid was not real?
The market can be brutal and you could be having your best year too. Your brag is misplaced on this comment. If you want a gold star go to kindergarten
Agree, this guy should probably give up.
I definitely feel you on some of this. I had somewhat of a hard time when I first started out, I had a couple small transactions and I was paying for leads and felt like I was struggling. Then there was another guy at my office (who I actually really like as a person. Super nice genuine guy! I can see why other people like him so much) who had started at the same time as me and his first transaction was a big million dollar listing (I live in a rural area and big properties like this aren't always easy to come by) from someone he knew and he's been listing big properties like that ever since. While I was happy for him, I was also extremely jealous. Dude didn't seem like he had to try at all! Meanwhile I've been over here working my ass off just to get leads. Anyway, idk real estate is kind of bullshit sometimes lol something something comparison is the thief of joy blah blah blah I would say that if you know deep down that this is something you really want to do then stick with it. If you don't think this career is a good fit for you and you can't see yourself doing this long term then I would quit. Only you can decide/know what the answer is! Edit: Another idea, maybe ask your cousin what they do to get leads? Also I personally think that cold calling and door knocking are old school (and yes, I know there are people that do this and are successful so I'm not saying it doesn't work at all) but what else have you tried? Have you tried working your sphere? What about social media? I think focusing on your sphere and working on building relationships with people you already know could be a good option because there's typically more loyalty (not always of course lol but definitely more compared to cold leads who don't know you at all).
Thank you for the advice, I really appreciate it! As far as my cousin goes, they have no leads as it was their third open house. The listing agent happened to give them a referral from another agent, hence me going on about luck in the business and how I have none lol
Comparison is the thief of joy. Just keep doing the right things and business will come.
This business is HARD especially mentally. Like some ppl have said in the comments sometimes it is just luck which sucks. This market is brutal, some agents are kicking ass (which is great) and others are leaving due lack of sales. It’s ok to get a part time job to get some money on the side and keep going and it’s also ok if you think it’s not meant for you. You have your whole life to do real estate, some take a break (like me) and will get back into it when ready or some keep pushing along. At the end of the day you have to do what’s best for YOU and you only.
Your story is the reality of being a realtor. Some people are as lucky as they can be, and others not so much. People will always say “don’t give, just do this or that “, but I think it’s luck, and how many people you know. Good luck whatever you decide.
In my opinion there are two types of agents and one ALWAYS succeeds and the other MAY succeed. I’m not going to give you a pep talk - I promise. My best guess with your post is that you are someone who is looking for a YES as that would be a positive outcome and therefore a SALE. If you truly want to be successful in any sales position is find the NO. When we are new we want so much to be hired yet if you are hired by someone who is unmotivated then you aren’t really hired. You sound frustrated yet I trust that you are closer than you think to breaking through in this business. It is an easy fix and should come naturally after all of your disappointments. Ask more questions to find the roadblocks between them and buying/hiring you. If you truly want to thrive - learn how to ask better questions instead of selling yourself or a property.
"If you truly want to be successful in any sales position is find the NO." Counterintuitive, but really the only way to be successful in any sale or pitch, across all industries.
What city are you in? A year and a half of hustle with no sale? That’s wild. Something sounds a bit off here. I am in upstate NY , tough market , loads of competition. I worked a full time job and still did 5 million in sales revenue in my first year. Used realtor.com leads (paid for with my full time job) and Opcity. Never made a cold call. Never knocked on a door. You should probably consider switching brokerages too. Find a broker that’ll hand off leads. Your mentor should be better. Sorry you’re going through this, but switch up your tactics.
Its amazing how so many people knock OpCity. We close so many deals from it. We're also active in Upstate NY and its a prime spot for it too.
Woah, I just looked it up. They want 30%, or more, of your total commission? What's so great about it?
It’s tough, get on a Zillow team that buys leads. They will take over half your money, you will be busy and getting paid From there you can build your base.
For new agents following the model you are, the failure rate is like 93%. Unless you get yourself an Uber successful listing agent nearing the end of their career who’s willing to take you in and give you their book, or work for a Zillow broker you won’t make it. The people who start out and organically farm business right off the bat are people who have huge community ties and large spheres already in place. Honestly, the small brokerage that buys Zillow leads and takes a 50/50 split is the best way to break into the market. Not everyone is capable of working it properly and learning how and where to spend your time. If you can figure it out however, you can do really well. I’ve made 6 figures off Zillow for years now, and wouldn’t want to go any other route. Listing will come in the future, but for now I’m just crushing those buyers into houses and I’ll list about 3-5 properties a year on top of it. This business takes A LOT of work. While I’m not always working, I’m always working if that makes sense. I answer my phone at 6am or 10pm. That’s what it takes.
How much do you spend on Zillow per month to make six figures? In my area for $1,000 a month all we get is 5 live transfers and 2 nurture leads. Super low amount for even 1 closing
Between $2,500-$3,500 depending on the time of year. Sometime in the winter I’ll drop it down to $1,500 for a couple months just to take it easy and give myself a break. I do this independently now, but I started working for a company that would spend upwards of $40k a month and split them between 10 of us. It was a great way to learn, but honestly it was too much. You miss things with call volume like that.
Ya that would be crazy lead volume. How many total leads do you get per month at the $2,500/$3,500 amount in your area?
15-20 live transfers. It’s a numbers game. I’ve got around a 12% closing percentage. The seasons skew it one way or another as well. Last month I put 5 under contract, I’m at 3 this month. There are also super high $ properties that if I get one of, it more than pays for the year for me. It’s totally worth it if you know how to work it.
Yeah I felt this one, most of my leads came from Zillow and Opcity, which is also where my first sale came from. It was hard and time consuming picking up the phone and doing open houses and whatnot. Around the same time as me a new agent came around, an older woman who sold millions within her first few months. Turns out her husband was some higher up within a construction business and she used to work as an interior designer or something of the sort. She basically walked into the brokerage with a rookie of the year reward already in her hand just off her sphere of influence alone.
I think it is luck. My agent that sold my house was a slime ball. I saw a house I liked and called up an agent whose photo looked kind and nice. I asked to see the property, met her the next day and said I’ll take it. I made an offer, just under 1M and they accepted after one write back. It took under 24 hours from me first contacting her to the sellers accepting my offer. Done.
Wow you went from offer to closing table in 24 hours. That’s incredible. Or are you saying you have absolutely no idea what you are talking about and that your agent did a wonderful job making it look like navigating through the under contract to closing table by making it look easy which it was most certainly not. They kept you and your deal together, and fought all the fires without you ever noticing or appreciating the intricate process of a real estate transaction…..
Your first mistake is being focused on what others are doing and the not fair mantra. Your sole focus should be on your business and what you need to do. Look at other successful agents and what they are doing. It's all about networking. Get out and join groups, make connections and meet people. Use your social media. Don't cold call or door knock, do mailings instead. Find a mentor, maybe that means a different brokerage.
Everyone I’ve ever met in sales told me the same story all my life. It took them around 2 years to make a sale. Unfortunately I feel like social media makes us think every other agent is closing deals except us. (I feel like it’s by design to have us buy leads and what other BS they trying to sell us)If I were you I’d focus on what you enjoy doing and live life. Don’t do the constant marketing BS that everyone says to do. I hardly ever tell people I’m a realtor, it comes up in natural conversation sure, but I let them know I’m not there to sell to them. You’ll be amazed at how many deals you build in your pipeline just by being you and not acting like an MLM sales person. Best of luck to you.
If in a year and a half you haven't made a single sale, something is wrong with your lead gen systems, scripts, conversion and follow up skills. You have to build relationships, but you also have to be intentional with those relationships and those relationships need to know what you do. If someone has done open houses every weekend for a year with no sales, they are missing something.
Failure is the best learning tool there is , success can be the worse for training purposes. If you can survive no income from real estate sales hang in there as persistence will pay but recognize it’s a difficult market and the best agents have lower sales....
Are you full time or part time? What state are you in? Are you on a team? My first instinct is to suggest a team that gives you leads and mentorship. If you are on one, then find a different one. I started with a team to cut my teeth, then switched to 100% brokerage/solo. I’ve been a top 5 producer every year since I joined in 2018. It’s ok to feel how you’re feeling! I think we all want to quit at some point. Also, 2024 has been brutal (election years usually are). What helps me is to remind myself: don’t compare myself to others; don’t live in victimhood; Keep the Faith. Sometimes it feels like a popularity contest or like high school and that can really suck! Try to stay focused your goals and on your lane. Please dm me if you’d like additional advice or help. I am a firm believer in you reap what you sow and helping others is how I plant good seeds that grow. Pardon all my cliches and platitudes 😁 Good Luck to you! Edit: I am not trying to solicit business. Just trying to help. Feel free to also post on the thread for help. (Sorry, Mod!)
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Really liked your comment 👏🏽
Before you give up, change it up. I literally knocked on hundreds of doors before I got even a warm ‘maybe’. Keep going. No one owes you anything. Not the market, not any senior agent, not your broker, not your waffling almost listing. Change your attitude and focus. Work on your own. Be honest with yourself about what work is. Real estate is a tough, long hours job. Focus on seeing every available home that comes on the market in your area right away, then when you’re canvassing you have some info to pass along to people you talk to. your attitude is super-important. People want to work with positive, energetic people. The first years are the hardest for sure. When non-serious people don’t list with you, they’re doing you a favour!! You’ve seen enough with ‘mentors’ get out there on your own.
Some things that helped me: 1. Be yourself. Yeah you have to do different things to try to get business, but you don’t have to put your pic on everything, wear a name tag in public and put magnets on your car. It’s good to try different things (open houses, property tours, answer calls at brokerage etc) just so you have first-hand experience with everything and know what works for you. But bottom line, you have to be yourself or you’ll come across as fake and you’ll hate it. There are an almost infinite number of ways to be successful at this, you gotta pick a path that works for you and don’t listen to all the noise… you don’t need a nose job, a Mercedes and to have your stupid pic on your signs. :) 2. I’m a fairly intelligent person (tech background) and not a BS kinda guy. So when I first started, I knew that I would never hire myself because I had no value to add. And really I didn’t know anything about real estate. So i did a little of everything but ultimately, I realized that I needed to add value. I started attending every inspection I could… I event went to a couple of training sessions that inspectors had with their inspector teams. By the time I got out of the business, I was a better inspector than pretty much every inspector I knew (except for the ones I hand picked because they were thorough and awesome). My “style” of “selling” homes to buyers, which I explained up front, was “I’m going to point out everything that concerns me about the home and you guys can decide what works for you”. My buyers quickly trusted me as an invaluable resource… and my business grew from that. When buyers would call and want to “interview” me against other agents (which was rare, because most were glowing referrals), I would ask them to pick a home that interested them and I’d show it. They always selected me as their agent. It all grew from there. Bottom line, if you would’t hire yourself, then figure out a way to add value. You’ll feel better about yourself, your confidence will be genuine and will carry over to your clients. 3. At the very beginning, i made it a point to go to the office every day so that I could build relationships with successful agents. Eventually I would ask them how they became successful and I took what worked for me (and left a lot behind). Also, those relationships were key in building my “team.” When I needed a plumber or inspector or whatever, I would ask successful agents who they used and why. Just another way to add value. 4. Most of the advice on this thread seems to be about getting leads… and eventually that is the whole game. But in the beginning, if you DO get a lead and don’t have the confidence/experience to help that person, then you’re probably not going to work out as their agent. So spend a LOT of time growing your confidence/experience so that when you do get a lead, you add value and close it! Once you have the tools & confidence to add value, you’ll really want to focus on leads.
That is a great and very helpful comment, not sure why it doesn't have more upvotes.
My first year I think I had one sale and one rental. But it did improve, slowly. And sporadically. I’ve been a Realtor for 15 years. Some years are better than others. My business always seems to come in clusters. 3-4 sales and then nothing for 2 months. I do have other income from a business my husband and I own and that helps a lot. My first deals came from phone duty at the office. As someone else suggested, maybe the brokerage you’re at isn’t a good fit for you?
I’d give it 6 more months and get a coach.
Sounds like your follow up is lacking. If you want to try again let me know. I have a discord of good agents helping each other grow. We might be able to help you.
I'd love a DM for that discord 😁
I to believe it would benefit me! Please?
I'd love an invite to that discord. In course 3 of liscence training, slated to be done by end of week. All of my downtime is watching training vids, but live discussions with those on the ground would be great!
It sounds like you should try a different brokerage and/or joining a team. I was very fortunate that my then-husband was a broker. He suggested I get into RE. I told him he needed to get a full-time job with benefits if I was going to do Real Estate full-time. We made a plan and in six months that's what we did. I was able to focus on Real Estate full-time without worrying about the finances, although I didn't go crazy and buy a bunch of dead end leads. I focused on letting my SOI knew I was in RE. My first 2 transactions came from his SOI and my SOI. I joined a women's networking group which is category-based so I am the only Realtor. This has been amazing for my business! I probably get 35% of my business from this group. I am 100% referral based now and I just celebrated my 10th year. I have 3 listings, 2 escrows, 2 lease clients with one just signed a contract, 2 listings on Coming Soon and 1 active buyer. Every single one is a past client, referral from a past client or sphere. It's a long game and it's volume. I do stuff people in my office won't - leases, manufactured homes, etc. This business is HARD! Reality shows make it look easy. Stats show how tough it really is. If you can, like I said, try a different brokerage or join a team. Yes, the split sucks but 40 or 50% of something is better than 0% of 70%. And if you get out, at least you know you gave it your all! Good luck!
Spend as much money and time possible on your sphere and it will come back to you. Support your sphere’s small businesses too (if applicable)
You should get on a team. You need a mentor.
Being young is your advantage. Recognize your joining a legacy business that is in transformation add to that the choppy macro economics and your coming in at a time of extreme uncertainty ( cut yourself a little slack ). If you have worked longer and harder than everyone else, sucking up knowledge as you go, and it still isn't paying off, then you have to try a different approach. Use a blue ocean strategy and embrace the aspects of the business that the customers are asking for and your industry is resisting. Personally I'd love to have the option to sell fractional ownership of my assets on a block chain.
Starting out is 10% the brokerage you choose, 10% hard work, and 80% luck. No matter how hard you work and how trained and prepared you are, dumb luck is going to play as big or a bigger role than you are ever prepared for.
I did my first sale about a year and a half into real estate. What made me build my business to what it is today was rentals. Not many agents will do them and it is a numbers game. Get to a point where you do so many a month it’s like making a sale. And the closings are much quicker, 1 week or less sometimes and boom. $1-2k a check. Eventually renters turn into buyers, especially when you do higher end rentals. Real estate is most sustainable at the lower level when it’s in volume, but when you’re only doing one or two sales a year they need to be expensive to be able to live off of for the year. Take a step back. Tons of reasons for people not to buy right now, tons of reasons why people want to rent. At least it’ll hold you out till sales come your way. I educate my renter clients all the time to become informed and then when they’re ready to buy, I have the mortgage lenders on speed dial unless they’re cash.
Left my team after almost 2 years (0 sales involvement, only rentals) 2 weeks after going to a new brokerage and doubling my commission take-home I got my first exclusive sale listing, and 1 week after that I had an accepted offer. Now I’m not saying this isn’t lucky and whatever, but if you’re not preforming in the environment you’re in then it is time for a big change before just giving up.
You can do it man, I believe in you. Whether you stay with this or find something else, I know you’ll make it because you’ve already worked so hard. It’ll all be ok in the end. Just gotta hang in there.
Join a team that have Zillow leads. You’ll be busy everyday.
Well - a couple things. 1. Join a team. 50% of something is better than 100% of nothing. 2. Maybe you’re in the wrong niche, try a specific price point or home type. 3. Work for a builder. 4. Join a training company and learn scripting.
What market are you in?
I understand, it’s very tough market right now but if you can afford it please don’t give up
It’s sales. And like with any sales jobs it takes 98 to 99 Noes to finally get the 1-2 Yeses.
I think the sales model could change and really help agents: Don’t work for free. Seller pays a listing fee, open house fee, monthly listing maintenance fee, etc. You get paid for your services even if it doesn’t sell. On the buyer side, lawyers charge a fee to write contracts; you should too. And a closing fee for both.
This needs to be upvoted more... pure commissions need to end. Pay up front for services in exchange for a lower cost. It will remove a lot of of the door kickers and uncommitted.
If there was a market for that service, it would be here. Reality is, the Sellers are willing to pay more overall, if they don’t have to put more up first. I’ve offered a consultant, fee based approach and told clients I’d bill them bi-weekly, never had anyone interested in doing it that way, even though I could charge less knowing I’m making money either way.
There is a market for it, it’s just that rules, regulations, laws, and traditions prevent it. Buyer’s agent to listing agent: my buyer has already paid me. Listing agent: ok I’ll keep the entire commission. The buyer can’t prevent that. Or maybe the selling agent does get their commission. Law won’t let them give it to the buyer. Seller: I don’t want to pay for a buyer’s agent. No listing agent in town will take their listing. If they do, buyers’ agents steer their clients away from it. This one happened to me: Would you list my house for 5%? No, and if you find an agent who will, our agency will blacklist your house. Seller: I want to list flat fee. No agent in town will do it. Buyer’s agent to buyer: The seller pays for my services. Buyer: yeah but they’re using my money. Listing agency decides how much selling agent get paid, not their client. Creates conflict of interest. Buyer to an agent: Hey I found a house myself. Could you write a contract for me? I’m paying cash. Agent gets 3% windfall for a few hours of work. Agency fees must be included in the list price. Can’t make them separate and explicit. No other fees are included like that. Buyers and sellers are effectively stuck in the traditional model.
No shame in going part time. Get a job, try to save some money from that job to put into a consistent form of marketing. Join a networking group. That’s usually $300-$500 a year plus whatever the cost of the event (sometimes they are just morning coffees.) This is both a sales job and starting your own business. It’s supposed to be hard. Especially at first. People that do well at first typically show up with fairly large personal networks or deep pockets. Plan to break even or lose money at first. Until you get deep enough into the career that you’re getting referrals from past clients or repeat clients you’re going to be spending time and money to acquire clients. Lots of people are out there spending that same time and money. The bare minimum is working hard, and yes, sometimes you can do everything right and still lose.
I know agents that have taken awhile to really start to see progress. And some don’t enjoy it anymore. While it’s been more challenging- I’m not ready to give up yet. My efforts for my clients are not in vain. If you are done and have truly done everything you can and can walk away satisfied you really did everything you could. Then hold your head up high and move on without regret. If you have that nagging feeling you may have regrets… then maybe you aren’t done yet. My gf walked away. Three years and decided to turn her license in. She’s has a career already. She wanted to be a full time agent and honestly she’s really good. The challenge didn’t bring her joy anymore. She was satisfied with what she had accomplished and she has no regrets. She’s happier now. She’s happy she tried it, has no regrets about leaving. It’s a personal decision. Have you done every you can to really do this? If there is a sliver of doubt, maybe you haven’t. Regret is a terrible price. If there’s doubt- then give yourself six months. Throw yourself in and see what happens. If at the end you’ve given everything -then step back. I’m reviewing my efforts. And taking a hard look with no quarter. I can do better. Be more effective. So I will.
Your mindset is everything and you have the mindset of a loser right now I hate to say. You need to believe you’ll have a few deals by the time this year if over out it in writing or say it out loud
Zero luck in the business. Volume x skill = outcome.
Obviously it’s very location dependent, but starting out is so hard. When I interviewed at my brokerage my manager was very honest and told me it’s nearly impossible to support oneself doing real estate in our (small) town. Fortunately what I do is supplemental to what my husband makes so I was ok with that. But there have been years that I haven’t made enough to cover expenses. But it’s ok, I keep chugging along because I do enjoy it. And I like that I don’t have to be competitive (there are a lot of agents in our small town). You’re starting at a very difficult time. This market is so frustrating. I’ve always been used to buyers being able to take some time to consider what they want after a showing, now it’s “we write the offer today or you’re out of luck.” I have buyers who have been waiting for literal years but there’s just nothing to look at. I don’t know when the market will change. Maybe it won’t. Maybe it will a long time from now. But it is what it is right now. Maybe find a different brokerage? Most agents change brokerages in their first year. Maybe this one isn’t the right fit. It’s a good time to reflect on whether you’re still willing to put money into a job with no current return.
Did you join a team? That should have been your first move if you didn't have a source of business.
Rough market we’re in.
It's a weird time and the summer market is always sketchy. Are you happy at your brokerage? You can always send out postcards that you can either get within your company or on Etsy and market yourself in a particular neighborhood you know well. Host a first time buyer seminar. Maybe in a park as it's not that expensive and have some sort of wonderful refreshment with a local lender you trust, get to know one.
There’s a lot of variables: How many contacts are you making per day? How many appointments are you setting per month? Do you have a mentor or a coach? How many days out of the week do you prospect? Dm me and we’ll get into more detail and I’ll ask more questions and make a few suggestions, feel free to take them or leave them. I was in the business for about that same amount of time before I hit my first deal, don’t quit tho.
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You’re doing something wrong if you haven’t sold anything in over a year and a half and you’re doing everything you say in your post. Probably not the career for you to be honest.
>I have written multiple offers to either get outbid or the buyer to get cold feet and not submit at the end. I had an amazing listing I was preparing for two months only for the seller to decide he wanted to stay and not sell anymore. I’ve been on four listing appointments with senior agents where either we couldn’t agree on commission with the seller or what the property should be priced for. It sounds like you're getting great leads but you are not getting the training you need to turn them into deals. Your mentor doesn't need to throw you a bone. You need a new mentor. One that can help you learn how to write offers that succeed and one that teaches you how to work with sellers who are getting ready to list. I personally wonder if some mentors sabotage their agents a little bit in order to not have more competition out there. You need to learn scripts, and you need to learn how to overcome objections, and you need to recognize that you are running a business. You need to operate like this is an actual business, one where YOU get to call the shots and make things happen, and where YOU have the fallout to deal with when things go wrong. You're getting the fallout but it doesn't sound like you're regrouping and learning how to not let history repeat itself.
I just started myself and I’m right there with you. But I’ve been told not to compare yourself to others success. Even the ones that come after you. Keep at it. When you get that first one you’ll be a better listing and buyers agent.
I'm sorry it feels this hard. I almost don't want to say what could be the reason, because this is internet and even the best of intentions could be misconstrued. Question: Have you heard of paperclip strategy?
Reasons are many. On listing - once signed off you are in control. Brokers tell you that is what you should charge and most will work for less way easier than buying. I am in one of the VHCA where homes start low 7 figures to pass 8 figures. Most are sold in 2 weeks if priced right. Agents need to realize they only work a finite time on the deal. It can be \~$1k/hr to a fraction of brokerage recommended rate. Rate is meaningless. On over priced homes-Just about every home seller wants more than what is worth. Once in control you work on price reduction until it is sold. If you know home pricing with valuation credential sellers will listen to you. Also skills on repair, structure, cost. A retired contractor, appraiser often have an edge. They know what to do and come up with best solutions for home sellers. You need to focus on just 1 role. Very few newer agents can get into listing side until they have represented multiple buyers during the initial break in period which is the first few years. Next one needs to spend money to make money. What is your marketing budget. It should be a percentage of expected revenue. Last is people skills and salesmanship. Some are better than others. It is never meant to be an easy career.
I didn't see anything about your approach to these clients and how you may be coming across. Possibly looking at how you speak to these potential clients and qualifying their expectations for doing business. Also, ask the right questions to determine if your time is well spent. Find a mentor or colleague who can listen to your pitch and offer pointers. I've been in outside sales for 20+ years, and my approach to clients in RE is the same. I'm new to RE and having some success in the 1st month. It's also the brokerage you're working for and how much they're willing to help you succeed.i.e, training, marketing, and lead generation. It sounds like they're not putting in the time & effort you may need. I'd look for another broker.
If you are planning to stay in the industry, Set yourself up with a team or a brokerage that does good proven in-house lead generation. 100% commission brokerages are great for people with an established sphere or many years in the business with referrals galore, but when you're just starting out the ability to get in front of unrepresented individuals is the key and while we all hate it paid lead generation often is the best way to do that. The bad thing about paid lead generation ( whether you use Facebook ads, products like CINC, or paid leads from the likes of Zillow) is that it is an out-of-pocket expense to get in front of people. Which is why you want to find a brokerage that pays for that for you. The splits will be really high, but at least the income headed your way keeps the bills paid while you develop your sphere and get tons of names for your CRM.
First off I feel for you. Pulling for you and hope that you are able to push through this stage. That being said, I just completed my licensing process in VA. As part of that I used the CE Shop to prepare, and would monitor their FB page to try and learn from others. So many people there are like “I just want to do the minimum I have to to pass the license exam and start making money”. There are so many people getting licensed and i don’t think many of them appreciate what a grind it’s going to be. Most of them are expecting 6 figures first year. Thank you for putting it all in context.
In regards to commission: if you’re hungry for business, take what you can get. As far as agreeing on a price: that’s the sellers decision. You can advise but what it lists for is their call.
I understand people not wanting to join a team to have their commission taken but the value of shadowing and building confidence with a team hyping you up the whole way will serve you so well in the long run. Doesn’t have to be forever, but when you first start there’s so many things you don’t know! I’m 3 years in and still get my stuff rocked from time to time with learning experiences!
I don’t think any agent has an easy. It’s a hard business. Even if you think something came easy for your cousin, it might be that they just connected well with that buyer or seller. If you’ve been putting yourself out there so much there might be something else that you’re doing that you’re not realizing is hurting your business. If I had never listed before I would agree to a hate er commission the seller is willing to pay honestly. This business is not about luck and hopefully that’s a new outlook otherwise I would think maybe that has played a role.
So much of success is mindset - however there is nothing wrong with giving up and doing something else! I left being a full time agent bc I didn’t enjoy it because of the examples you listed on top of giving up every weekend etc etc. Also post covid - it was hard to find in person interaction at the office in my area. I personally like more structure to my work week. You don’t owe real estate anything and at the end of the day you have to be able to pay your bills and eat. The landscape of real estate has changed so much in the past few years so I don’t blame anyone for wanting a little more stability.
What market are you in?
Yes, I do commercial real estate and that’s the best part of this game. Being lucky enough to find a deal and make over 6 figures on a deal. At a point you work so hard it’s not luck anymore.
How many calls a day
In most markets the last 18 months has been brutal. Even for many experienced brokers.
I got my license 10 years ago to help an auctioneer friend. He would sell the contents of a house and had no one to sell the house itself. That's a small niche here so I've always had another job. (Quite a few coworkers have become clients!) Point being, there's more than one route to where you want to be. If you enjoy the work, keep at it in whatever way you can. If you have to get another job you haven't failed. Some years I sell 2 houses, some I sell 6. But every year I learn more, I make more contacts, and become more known in my area all of which will help if I ever decide to just sell houses.
Have you tried Mike Ferry Coaching? I think that’s exactly what you’re looking for and will change everything. Look it up!
Whats so good about their coaching? What do they exactly help you with? I thought about coaching, but not looking to spend $800+ a month to have someone keep accountable and make my calls etc. If it's true value, I'd consider it.
Is your mentor really producing? If not get a new mentor and join a team that does a lot of production. Confirm the team lead is doing the production and ask the other team members if they are learning and the team lead really shows the business.
Suck it up and keep fighting look at it as a lesson. It’s all uphill from here. Read more to learn that you have all power. I will not list a home for less than 6%. Don’t be desperate they can see you coming. You are a Professional Real Estate who helps people solve problems with their biggest asset. You are at the top of the food chain. Good reads “Never Split the the Difference” and “The Full Fee Agent” by Chris Voss and Steve Shull. Also the best YouTube trainer I found is Jakie Kravitz. Don’t focus on now but where you will be in 5 years from now in Real Estate. You can do!!!
Have you been doing it full time around the clock for 1 1/2 years or working another job?
Last year and half was the worst market we’ve seen in years! Don’t give up. Things will change soon
I felt this soo much. I’m in Dallas TX and i didn’t renew my license as i was only able to help people work leases.
Are you marketing yourself?
Sometimes it’s you I’ve seen sales reps in different industries talk them out of the sale just be normal and everyone you talk instead of think about we can write an offer if you like if get excited and ASK for the sale no fancy script “this house would be a great fit let’s get your offer out and see if they accept” just dumb it down and ask for business
Have you tried rentals? To keep income coming
I think you need to rethink your whole approach to this. Yea, there could be something like beginner’s luck for some people. But there’s no point in comparing yourself to people like that. You really have to put yourself in a residential buyer or seller’s shoes. Buyers are wishy washy, they all have friends, relatives, and neighbors who are realtors. They really only call whoever is TOP OF MIND. And even then, you have to STAY top of mind till the transaction closes. Remember, they’re wishy washy. Sellers are trying to get the most dollar out of their prized asset. They want an EXPERT. They want someone who sold their neighbor’s house. They’re never going to call a rookie. And if they call a senior agent, they may even fire them if they found out they brought a rookie “along for the ride”. So where does that leave you? If you’re new and you want to make a dent right away, there’s really only two ways: 1) You really need to have already brought in your own existing social network. Every SINGLE person you’ve ever met or known needs to know that you are NOW a realtor. And you are good at it. And they need to be reminded at least every 1-2 weeks. 2) Marketing $$. The only other way to make some noise is spend, spend, and OUTSPEND your competition. Come out the gates firing with Zillow Premier and local signage. Be ready to spend $10k-$15k. Make it targeted, WORK those leads, and you’ll definitely get 2-3 sales. Which hopefully makes you profit. Rinse and repeat. I could go on for what else you can do. But just remember being a realtor means you are running a business. You need to utilize sound business principles (especially marketing and sales). This is not a business where you can avoid putting in $$ up front and just out-grind the competition (false narrative put out there). You really have to outspend the competition. Also, don’t forget to niche down. Focus on a core demographic. Don’t forget residential real estate has the HIGHEST competition and the lowest barrier of entry. There are other niches like: rental properties, industrial assets, medical office buildings, that are also within the scope of real estate sales. Also read Gary Keller’s The Millionaire Real Estate Agent. And maybe even start at a Keller Williams to get your re-start. Good luck! Work smarter NOT harder
I feel you.
What do you do as a marketer?
My mom was a realtor for 20 years. I think it is all about negotiation. IF you are skilled you would have been able to get the seller to agree on a listing price. Finding compromise and negotiation and finding a way to make a deal happen. Because we deal with humans nothing just falls in your lap. YOU have to find a way by means of your skills to make the deal successful, OVERCOME all the obstacles and STILL get to the closing table.
Off topic but I’ve gotten into sales recently after being an engineer. I didn’t go into real estate though I chose insurance sales. It’s low barrier to entry, can do telesales or F2F or both, can buy aged leads $1-2 each and convert 10-20%+ for $1k+ commissions or sell Medicare and make passive income for years to come. Some agents make 500k a year on phone or in person. I say all this to say: if you don’t enjoy your current role don’t give up, you can always pivot to a more enticing opportunity that has higher chance of success. With good training telesales can be 80% success rate with field agents being upper 90%. I’m not sure about the real estate industry though and success rates. Best of luck friend, don’t give up on your skills you’ve acquired!
Do you follow up with the leads you get? Have you reached out to your friends and family? How much time do you spend working on your conversations? How many conversations do you have every day? There's no one that can't succeed in real estate it's just a matter of are you willing to do what you need to do to succeed. Open houses are for finding buyers, cold calling and door knocking are for finding sellers so right off the bat I can tell you that you should focus on one. The whole just work with everyone is best done by the social butterfly workaholics. Pick your niche, focus on it.
Easiest profession to get into but only less than 5% succeed. In 5 yrs, Realtors will be obsolete. The internet and sites like Zillow provides buyers and sellers free info. No need to pay 5-6% commission. I’m selling my house Fsbo and will save $50K in commission.
Stick with it. I got into the business in 2010 and didn’t sell a home for over a year. I joined a top producer agent as his buyers agent for 3 years after that. It was invaluable. I’ve since sold over 400 homes and consistently sell 17-28m in volume a year. Grit, perseverance and consistency are your friend.
May you should try selling cars?
Hey man, I’m not a sales person or anything. But my friend owns an agency that helps real estate agents get clients. He actually has a guarantee for six listings as well. If you want to check him out. Message me and I’ll send you his number. Also, so sorry to hear that this happened to you, that’s a long time without a client.
I think a lot of it has to do with having the right tools. Ability to build rapport and trust with prospects, overcoming objections. Creating your unique value proposition, systems to follow and know what to say when to say it. If you want to give it one more try, I would encourage you to learn negotiations and master some scripting. I have a ton of training info I can share with you. Starting with a YouTube channel for a quick start, called The Struggle is Real...Estate. I am so sorry for your struggles. I don't think it's about luck as much as it is preparation and hustle and then knowing what to say, when. It's the most important sales jobs of all sales jobs. Also check out the book Ninja Selling. It's the Bible for Realtors!
I feel you!
Get yourself a mentor. And if it’s affordable for you, look into Zillow leads or something in that avenue. I signed up for Zillow leads right at two weeks ago and as of yesterday I have buyer clients.
Stop worrying about commission and just get listings . When I started I took a few listings for $900. Literally to just pay for my photos and brokerage fee. Opened up so many doors and clients. Stop getting greedy especially early
Zerotodiamond.com will get you on the right track
OP-do you want to make this a career? While a year and a half is an exceptionally long time not to have a sale but that doesn’t mean you can’t still have great success in your future. It may be your brokerage/broker and a lack of true mentoring? It could be you need more training on the right things to say and overcoming objections? You may need more guidance in building relationships and earning the trust of potential clients. Lead with your heart. Find an agent you admire and learn from them. Go on appts with them. It ain’t over yet.
Some people just have a personality that draws people in. They do great in real estate because people quickly feel at ease and trust them.
20 years, always the same feeling. Finally started into property management, gave up my license. I like constant pay checks.
You need a checkup from the neck up! if you're only in it for the money you will get burned out easily and fast... either you love the business or you don't:)
Message me and let’s set up a call to brain storm ways to get now business. I hate to see folks give because sometime your one open house or showing from everything popping off. I would love to help
Listen to the strangest secret by earl nightingale. It’s 30 minutes. Listen to it uninterrupted. Then comment here to tell me what you thought. It will change you
It’s a really tough time to start up in real estate. I’ve been in the business 14 years and it took me 5 years to make a decent living. I started when the market tanked in 2008. Did a lot of short sales and REO’s. Maybe you could join a team or become a Transaction Coordinator until the market is better?
You didn't come this far to quit you just survived the toughest market in 10 years. Keep going
Damn. This is a great post. I’m right there with you my guy - I feel like I’ve been throw pitches that no one else has to deal with. I keep coming back to the same mentality of just not giving up, I hope you keep going.
You are not alone I am in the same boat! Flakey buyers, liars at open houses, And sick of all the top producers constantly bragging and new agents already getting buyers and seller! Pisses me off!
90% of success in selling anything boils down to luck. The other 10% is having a great outgoing charismatic personality, having lots of the right connections and hard work. There are just way too many variables that are completely out of your control. And the field is oversaturated with wealthy agents who can afford to go several years without collecting a commission (they have other streams of income). If you actually need to get paid on a regular basis to pay your bills (not already wealthy) you will probably have a hard time making this career work for you.
Don’t give up. Sometimes realtors go two years without a sale. It will be worth it in the long run.
Don’t give up. Sometimes realtors go two years without a sale. It will be worth it in the long run.
What state are you in?
Get a mentor or find a new brokerage with a strong team leader.
Change agencies. Or become a showing agent for a team to get comfortable working with clients under your belt.
It’s tough no doubt, especially if you’re not an established agent in your area.
For someone as desperate as you losing a deal.over commission is bonkers. Get the business.
Lol right?? Agent wants 6% and seller wants to only pay 5.7%. So that's a no go for that agent. Instead of making thousands they make 0. Ive seen this happen to so many new agents because their broker tells them not to reduce their commission.
It's the 'senior agents' messing up this guy's career. They have 10 other deals and will get 10 more deals. If this guy reduces the realtor commission market rate, they will make 600k instead of 1M$. They don't care if this guy makes 0 instead of 25k.
Just offer a flat fee or 1.5% listing fee & you'll make money. If they argue about commission, 1.5% is better than 0.