Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My sister is wanting to get her R.E. license but I'm not sure if that's such a great idea considering she's young & doesn't have many connections around town. I have heard that the top 1% of agents do 90% of the business in the industry, is that so? If it is true, I'm sure it probably takes decades to become one of the top 1%.
My sister is wanting to get her R.E. license but I'm not sure if that's such a great idea considering she's young & doesn't have many connections around town. I have heard that the top 1% of agents do 90% of the business in the industry, is that so? If it is true, I'm sure it probably takes decades to become one of the top 1%.
Not sure where the 1/90% comes from. I have an agent in my office who became a Realtor in 2002. Since then he has routinely sold $200,000-300,000Gross Commission Income mostly by using good business methods.
I recommend that anyone entering the business spend their first 100 days by taking the Brian Buffini "100 Days to Greatness" course. There are other courses and marketing tools/products, too.
The main thing about entering the business is to recognize that it's a business. Invest wisely, don't think you will go home with 50% of your GCI but rather acknowledge that 50% of 100,000 is more than 100% of $49,000 GCI. Ideally, a good business plan with good support and coaching should give a typical rookie agent a $50-75000 GCI, and a 25% growth pattern over the next 5 years.
My sister is wanting to get her R.E. license but I'm not sure if that's such a great idea considering she's young & doesn't have many connections around town. I have heard that the top 1% of agents do 90% of the business in the industry, is that so? If it is true, I'm sure it probably takes decades to become one of the top 1%.
Realtor Magazine comes out with the Top 30 under 30 every year. I know two of them and they work HARD. Being successful in real estate is about working hard.
The challenge in real estate is that this is a business and you have to spend money to make it. I don't mean spend money on billboards ads or shopping carts, but coaching is a fabulous way to spend your money and actually get something out of it. There are MANY coaches out there that are great. I agree with Tomocox on that one.
What is comes down to is how motivated she is to succeed.
Realtor Magazine comes out with the Top 30 under 30 every year. I know two of them and they work HARD. Being successful in real estate is about working hard.
The challenge in real estate is that this is a business and you have to spend money to make it. I don't mean spend money on billboards ads or shopping carts, but coaching is a fabulous way to spend your money and actually get something out of it. There are MANY coaches out there that are great. I agree with Tomocox on that one.
What is comes down to is how motivated she is to succeed.
I agree with a lot of that. I'm 31 and rank pretty high in my market, but then I bust my butt and work over 50 hours most weeks with a spattering of 60+ hour weeks in there. You don't have to spend a ton on marketing to be successful, but the fees to simply be in the business can eat you up in a hurry.
The rule you speak of is 10/90 or 20/80. The top 10 or 20% do 90 or 80% of closings and it's true. However, with some hard work an agent can break int that in 2 or 3 years in many markets. A coach is a good suggestion. I'd also say she would be smart to pick a company based on training that puts her in a position to be successful. If she works at it the rest will fall into place once she's been trained. At that point she can do more advanced courses. Sales courses geared towards RE are good, NAR courses tend to be pretty useless in my experience. I'm an ERA agent, and Top Gun or Acceleration courses were both very beneficial for me.
What does your sister want? Is being in the top 1% important to her or is that important to you? She doesn't have to be well connected to be be successful...I had NO ONE to help me get started when I first got my license in 2005. It's all about making connections/not ditching them after the deal closes and professionalism.
Quote:
Originally Posted by zoomzoom3
My sister is wanting to get her R.E. license but I'm not sure if that's such a great idea considering she's young & doesn't have many connections around town. I have heard that the top 1% of agents do 90% of the business in the industry, is that so? If it is true, I'm sure it probably takes decades to become one of the top 1%.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
