Career As A Real Estate Agent

[Guevara M.]

My fiancé has been kicking around the idea of leaving her current job and becoming an real estate agent.  Can any of you tell me some of the pros and cons of starting out as an agent?  How is it the first couple of years?  What kind of income is to be expected while starting out?  Any advice and guidance would be much appreciated.  Thanks. 

[Marc Winter]

As a broker in NYC for many years, I've been in the trenches and also trained many successful (and some wash-out) agents.  One thing I've learned is, you can't tell who will succeed or fail in this business by looking at them or listening to what they say they will do.  It's what they actually DO that counts.

What it often boils down to is this question:  how much rejection and failure are you willing to accept before you go home?

That is not a negative statement or a put-down of the industry; it is a fact of life.  Real estate is a numbers game.  If you have the attitude that the more you fail the closer you are to success, you have a good chance at the success you seek.

Once you have the right attitude in place there are only a few things you must do every day:  practice, drill and rehearse your listing presentation and closing sequences (thank you Tom Hopkins).  Prospect every day, and inspect, inspect and inspect some more.

When you know your area and the market, you become an expert of product knowledge, and can speak with some authority in answering questions and objections of buyers and sellers.  Know what questions to ask.  Lead them, don't push them. 

Of course visuals, cma's or power point presentations are important, but remember, people buy emotionally, and then justify those decisions with logic, so know what you're talking about, and let them FEEL what you know.

Never look at a customer or client as a commission or car payment.  Put their best interests above your own and they will trust you.  Never intentionally violate that trust.

Be prepared for six to nine months of no income.  Have savings put aside to cover you.  Sure, you could hit something right away, but chances are, even with a quick hit, deals fall out, delays happen--expect the unexpected.

Lastly, stay off the emotional roller coaster.  You get a listing in the morning and you're riding high; a deal falls out in the afternoon and you're depressed.  It's up/down, up/down.  Don't let yourself get caught up in that.  Know your numbers, and keep going.

The person that won't quit can't be beaten.  If you have passion, drive and commitment (not just involvement) you will succeed.  Remember, in a breakfast of bacon and eggs, the chicken is involved; the pig is committed.

All the best!