Becoming FT Agent - pros/cons

[Andy Mallos]

I've been researching a career change to FT RE agent. I'm great at sales (I've started a company - was profitable, in big box retailers and sold it off), I'm now self-employed (yuck - but I do have some control), and I do well. But...I see my main source of income for my current self-employment going away in the next 2-3 years. I'm looking ahead and making a move. I'm a "top producer" in my current industry (according to IRS reportings only 2% of businesses in my sector report income at my level - I'm in a very difficult industry). I'm required to find work and then make sales, I already work insane hours - problem is, I can only make so much money doing what I'm doing due to it's structure (another issue).

1. I can schedule my current clients in the early afternoon or evenings (I have flexibility) - is it possible to keep some of them and start as a RE agent? Or, would it be better to jump in and go FT? (I have savings - I'd just rather buy investment properties with that)

2. I hustle, love cold calling, meeting ppl, reading and learning - How realistic is it to make $50,000/year selling RE FT? How long would this take?

3. What words of advice do you have for someone like me to get started fast and successfully? My goal is to initially replace my current income. Next goal, exceed it. Is this realistic? I want some hard truths here - please don't hold back. I've got a thick skin.

Thanks for your help.

[Phillip Dwyer]

If your home base is close to a large metro, $50k is relatively easy to attain. Nationally, the average Realtor makes somewhere around this mark. This stat includes all the part-timers, short timers, and people who never do deals.
I'd say take some time to develope your biz plan while keeping your current gig. You can phase out that gig as you ramp up.
You'll definitely have costs, but I's shy away from dumping a bunch of dough into fancy or large marketing/ad campaigns at the start. Stick with a simple plan till you master the mls, forms, and transaction timelines. Then throw money into marketing to get fill the pipeline.