Newer Real Estate Agent

[Hessa Friedman]

Ive been in the business almost a year now and have 1 transaction pending with one overpriced listing to show for it. I have nothing coming up as of now. I joined a boutique RE agency because at the interview they told me they train and give over leads to help me get started. However, there aren't many leads coming into the office in general and therefore all my colleagues aren't really making many deals. Also the commission split is 50/50. The agency follows the methodology of Brian Buffini referral system and he's amazing. I recently signed up for coaching with them. My question is- when do I decide it's time to move on or make a change? I feel like I'm the only agent out there who hasn't made a penny within the first year. And I don't see how it will get any better. (I'm located in NJ)

[John Warren]

@Hessa Friedman that sounds like a really rough first year! My first advice would be, don't quit. I can't give you any particular advice on your brokerage, but I can tell you that I have LOVED working for a brokerage that is a 100% commission setup. I pay a transaction fee, and keep the whole commission. I also pay a small desk fee monthly. My over head is low which allows me to net more per transaction. 

A for your deal volume, I would say you are doing the wrong things. Since you are on BP, you are probably interested in investing. Have you gone to all the local REIAs you can find? I go to three currently, and have also started a meetup. I work with many investors in my local Berwyn/Oak Park market, and love my investor clients. They are loyal, do multiple transactions per year, and don't care about paint colors (at least not when they buy!). 

I would highly recommend you read @Mark Ferguson s book on starting out as a real estate agent. That was all the "coaching" I ever received, and I am closing 17 transactions this year during my 2nd year! It was easily the best $15 I have spent on my realtor business.