First year real estate agent salary or how much you can make your first year in real-estate is a common one. Most people are curious because they want to "gauge" how long it will take them to get up and running. Some people just want to see how long it will take them to get rich! Well for the most part, it depends. Some people get up and running quickly in real-estate. Some people (like me) it takes 6 months before they even get a client. Here is a simple breakdown of what may cause you to see success quickly (or not):
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Are you from the area? (add +$5,000)
When you are from an area, you likely have a social structure to get business off. Friends and family that know your a broker will likely use you. It doesn't matter if you've never sold anything, if your friends trust you (which they should....) you will get business relatively quickly.
2. Do you have someone in your family that's in real-estate and/or do you have the money to hire a mentor? (+$5,000)
Having guidance when you first start real-estate can make ALL THE DIFFERENCE. A family member, friend, and/or a mentor to show you how to get business can mean the difference between stagnating and really prospering.
3. Do you have entrepreneurial sales, marketing, management, social media skills? (+$10,000-$100,000)
Have you ever ran a business? Do you love networking? Have you ever ran an online marketing campaign? Are you a good Youtuber? All of these skills will come in handy as an agent and if you are a master at creating business, the sky is the limit. An entrepreneurial skill set will mean the difference between an agent that flops and bursts at the seams with business. Once the one trait that I've seen amongst top producers? They're entrepreneurs.
4. Are you attractive physically and/or personality wise? (+$5,000)
Looks aren't everything, but they sure can help. If you're that person everyone wants to be near, you will likely do well in real-estate. This could be that you're physically attractive or that you have a great personality.
Now for what will cause you to NOT do well your first year in real-estate!
You're not from the area.(-$5,000)
Real-estate is location-based and if you're not familiar with the area, that is a big disadvantage. People can tell if you aren't familiar with the locality and they will be hesitant to use you. Also, you won't have a social system in place to get referrals from friends and family.
2. Not professional ($-5,000)
Real-estate is a business that requires a large degree of professionalism.
Talking using words "like, um, yeah, you know, well like, dude."
Drunk pictures on social media
Showing up in flip flops and a hat
Letting emotions get involved in business
The barrier to entry in real-estate is INCREDIBLY low. You cannot rely on any degree for trust and people will be unlikely to use you as an agent if you come across as unprofessional.
3. No entrepreneurial skillset and/or bad people skills (-$5,000)
Entrepreneurial skills are something that must be cultivated. If you've never worked in a small business before, this could hurt you incredibly. Many times people with technical degrees get into real-estate and flounder because they've never had to sell, market, and/or work with people.
4. Under the age of 25 (-$5000)
Real-estate is not a place for young people. There's plenty of younger people in tech, healthcare, and/or science relate fields, but the average age of a real-estate agent is in the 50's. People are far less likely to trust a younger person in a real-estate transaction.