First month as an agent, $834k pending, $135k sold

[Mike Wallace]

I got my license may 1st and began working for Coldwell Banker, I sold a $135k house in my first 2 weeks and in the last 2 weeks I have gotten 6 more houses pending, from a 30k house all the way up to a 420k house, totaling $834k pending.

So far my key to success has been doing open houses. I have been doing 2-3 open houses per week and meeting buyers that way. 

I am still a newbie, but for any new agents I would stress open houses hard. Go into your office and ask the agents who have listings if you can hold them open. Higher priced neighborhoods the better!

[Joel Owens]

Just remember residential is highly cyclical.

Many new agents lose sight of this fact. They start out in the busy summer months and get comfortable with high volume and success.

Winter months roll in and sales decreases substantially. You could have 834k pending and 400k closes and the rest falls out. 400k at 3% is 12,000 commission and if a new agent on 50/50 you are getting 6k of that.

Some money to re-invest on marketing is okay but wouldn't go all out. I am doing very well with my commercial brokerage but investing the money while everyone else is taking vacations like crazy. I want to do what other people won't for five years so I can live the 60 years or more the way they can't.... : )