It’s not uncommon for many real estate agents to get their start as a part-time agent. After all, there are bills to pay, right? As a new agent who needs experience, starting off part time is often necessary until you know for certain you can make a living at it and feed your family.
Not to worry. With the right tools, training and vision, you can eventually earn at a very high level.
Real estate basics
Real estate is a numbers game. Here’s some math to break it down:
- 1 hour/day prospecting X 5 days/week = 5 hours
- 5 hours X 4 weeks = 20 hours/month
- 1 appointment/hour = 20 listing appointments
- 20 appointments = 5 listings
- 5 listings = 3 listings sold
- $10,000 commission X 3 listings sold = $30,000
- $30,000 X 12 months = $360,000
Second, if you’re doing anything other than prospecting, going on listing appointments or meeting with buyers, that task is probably just a distraction. Sometimes, as a new agent, you want to try out different things to see what you like. The problem with this is that it’s not productive. Stick to high-priority activities that will get you listing appointments and buyers.
Third, if the listing conversation is something you’re struggling with, see if there’s another agent in your company that you can share listings with. Offer to host open houses for other agents and split the leads, bring another agent on listing appointments with you until you feel comfortable and start tapping into your network connections.
Where to start
When it comes to getting started, the first thing to do is create your roadmap to reach your goal. Choosing goals and creating milestones will help you gauge your progress. You may also want to make a vision board to put in front of you so that you can keep your eye on the prize.
Next, meet with your broker manager to determine what resources they might have for you, get familiar with your market, block time for prospecting and lead generation, develop your listing conversation, and put your leads and sphere of influence into a database. Then…lather, rinse, repeat. You’ve got this.
Darryl Davis has trained and coached more than 100,000 agents globally. He is a best-selling author of “How to Become a Power Agent® in Real Estate,” which tops Amazon’s charts for most-sold book to real estate agents. Davis hosts a weekly webinar to help agents succeed in changing times.
For more information, visit http://www.DarrylSpeaks.com/Online-Training.
