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Updated over 5 years ago,
New Agent, seasoned investor...REALISTIC income expectations?
I am considering leaving the corporate world (day job) and doing real estate full time. As part of my "plan", I am considering becoming an agent. Obviously I would be starting from the bottom, but I feel my past experience in the business world and as a real estate investor would help me hit the ground running a little more so than a typical "new" agent. I've been investing in real estate for over 15 years.
What is a reasonable expectation for income the first year? Second year? I would be working in the Metro Detroit area to give you some context on property values.
I'm looking for realistic numbers, not guru hype or monster success stories.
If my goal was $100-125k/year initially, what does that look like? Hours/week? How many months would it take to get to that pace?
I've done all the math and calculating how many listings (listing agent & buyer agent) it would take. So I know how many homes I would need to close based on average property values. But I know that volume doesn't just happen over night. I realize it takes time to grow your network, establish your "brand" and learn the ropes of the profession.
At the end of the day I'm trying to determine if I should explore the agent option, or just stick with investment properties. Most likely it will be a hybrid of both.