Agents: Share Your Story!

[Duane Smith]

Hi All,

My name is Duane Smith, and I've recently had my application for my real estate salespersons license accepted by the state of Minnesota. I'm meeting with my broker to get my sign up fees paid (going with RE/Max) and I'm super excited to get into this wonderful business and stary my journey.

I want the agents on this site to use this discussion to detail a bit of how they began their career and how they wound up where they are. I'd like to answer certain questions, for example:

Who motivated you to become an agent?
Did you start with a small office and expanded out, or were you the small fish in a big pond?
What was your biggest mistake?
What your best investment in terms of building your practice?
What = was your marketing strategy when you started, and how has it evolved since you've grown?
and Of course, where do you see your business going in the future!?


I decided to jump in full-time and I'm going to rely soly on my commission income (a decision I'm very proud to make), and I would love to hear, from fellow entrepreneurs and 1099 lifers, some of the best aspects of your decision to get into this tough but rewarding field.

I want to thank you in advance for your responses!

[Josh Hooper]

Duane. Full time agent here also in Atlanta GA like Derek. I quit my 9-5 and went full time into becoming an agent in 2016. I've been at it about 18 months now.

I started with KW and to be honest, I chose them because they have a lot of training to get you up and running. I would recommend you read and re-read the Millionaire Real Estate Agent by Gary Keller. It is all about systems and that has been my biggest resource thus far. 

My motivation to become an agent stemmed from wanting to be my own boss and from my previous experience in investing with buy and holds. I own several SFH and small multifamilies in partnerships with other investors. I had great experiences with some and terrible with others. The terrible ones made me realize I could do this and provide people actual quality service.

I jumped in as as single agent in a bigger office. I have several biggest mistakes but here are a few: (1) not treating my business like a business from the beginning (2) having a bit of call reluctance as they call it from being afraid to bother people (3) not setting big enough goals (4) got caught up in the details and servicing of the deals that were in escrow and not remembering that the work I put in today is what will fuel my business 90 days out (5) getting pulled in 1,000 directions about technology and marketing, etc...really you need to find one thing and become an expert and then add a second and then a third. By the end of your first year, I think having three legs of marketing and deals to stand on is where you should hope to land (this could be your sphere, investors and FSBOs or it could be internet marketing, expireds and veterans the options are endless but the thing is to get specific and become very good at each before adding another stream).

The majority of my business came from investors and from my sphere of influence. I'd say my best investments were just going to community engagement meeting and networking with people over coffee or lunch. Taking an old colleague or friend for coffee. Keeping in touch with your database through consistent marketing via email, phone calls, notes and in person meetings.

My marketing strategy was non-existent. I was trying to reach out and let everyone know that I was in business and then write notes and get together. It was very haphazard but the results were still fairly good because I was taking a lot of action. Now I have everyone I know set up on some sort of marketing where they get handwritten notes, postcards, email newsletters, email videos, phone calls and one-on-ones every year. Certain segments get more in certain categories but everyone gets at least 33-touches per year. I also run FB ads and have lead-capture technology. I have recently hired someone to take on my marketing efforts for content creation and to get intentional with social media.

I'm an individual with an admin and now a marketing assistant. I plan to bring on my first buyers agent within 3 months. And then as business grows, I will lead with revenue and continue hiring. First a second buyers agent and then likely another marketing person followed by a listing agent. My goal is to systematize this business within 5-years so that I am an owner operator and not a producer. I don't know if I will ever fully relinquish production but that is a goal so that I can continue pursuing other business opportunities.

I know this is long winded, but I am actually teaching a class tomorrow to a lot of new agents on how to find success in your first year in real estate.

Best of luck! Hustle hard!