Becoming a real estate agent

[Zachary Grauer]

I would really like to become a real estate agent. The only thing that holds me back is that I hear some agents don't make any money for up to six months.

I was wondering, would this be the same for agents that are on a team?

My thoughts were that I could start off on a team then transition to become a solo agent once I learn the business more.

[Joel Owens]

I have heard real estate profession is going away for decades.  This year I am averaging out in my current pipeline about seven figures in commission for the year for commercial real estate.

Riches in the niches. If you are a broker or agent become specialist at  a high level. People seek you out for business whereas the generalist brokers and agent or ones that are average fight for scraps and try to squeak by.

Zach you need to find your (burn rate). That is for instance keeping only necessities what would you need per month to survive  is 3k,4k,5k? Take that number by 6 months and that is a decent reserve to have before you start. Most agents have little to nothing and pray it all works out and about 80 to 90% fail the first year.

Most business failures are due to under capitalization. Becoming an agent is a independent contractor and your own business. Do not depend on a brokerage to give you business. 

If you start growing your knowledge with experience over the years and keep getting repeat business from clients and referrals  then it can get easier.