Profile picture for anna1976

How much can you except to make your first year selling real estate ?also...

 how long did it take you to sell your first house?
  • July 06 2011 - US
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Answers (10)

It's not a question of how much you will make in your first year or any other year.   The question is "How much do you want to make (be reasonable)?". The follow up question is "What will you do to make it"?
This is where Super Training from your brokerage and outside sources (A lot of reading) and a Great Manager comes in.

The more listing you have the more buyers you will meet.
  • April 12
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I recieved my license in late June of 2013, I got my first sale 3 months after in November and 2 in december and 2 in January. Its now April and I haven't recieved a commission in almost 2 months. This career can be a very unstable income at anytime. I've had 10 buyer propects in one week in which half of them have all been preapproved, I've lost half in over a period of three weeks. I was unable to find them a home. I caught myself staying up til 3am in the morning searching for homes. Am I doing something wrong?
  • April 11
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Do not worry about selling your first house. Sales will come if you stay on top of your prospecting. Plant seeds. Have goals like I will have 10 for sale signs in front of ten homes. Worry about getting well priced listings. That should be number 1 on you list. Before you know it you will start closing deals every month. 
  • July 09 2011
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IF YOU ARE AN AGENT THAT IS WAITING FOR LENDER APPROVED BUYERS YOU WILL PROBABLY NOT MAKE IT TO LONG. IF YOU LEARN TO WORK SELLER FINANCE AND ALTERNATIVE FINANCE BUYER YOU WILL STRIVE IN THIS CRAZY MARKET. YOU, DO THE NUMBERS HOW MANY PEOPLE HAVE LESS THAN PERFECT CREDIT AND HOW MANY PEOPLE HAVE PASSABLE CREDIT. IF YOU LEARN TO WORK EVERY BUYER AND FIND EVERY BUYER A PROPERTY YOU WILL MORE THAN SURVIVE.
TWO WAYS TO QUALIFY BUYERS :
1) LENDER 2) CASH ON HAND FOR A DOWN PAYMENT.
IF, BUYER HAS 10% OR MORE TO PUT DOWN YOU SHOULD BE ABLE TO FIND THEM A HOME REGARDLESS OF CREDIT.
  • July 08 2011
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I wish there was an right answer to the question. One thing I do know is that I am sure the 80/20 rule stands in real estate. I consider real estate an easy profession to get into (63 hour course and an exam with provided answers) and even easier to get out! The costs associated with this profession are high and there is no guarantee income. Its really survival of the fittest but you can survice if you are willing to work that extra hour, make that extra phone call, research that extra topic!

  • July 07 2011
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As VP Career Development for Laffey Fine Homes I am asked that question everytime I have an interview.  There are so many variables that it is next to impossible to come up with a number but here are things to consider:  How many people do you know?, Are you comfortable asking for business?, How much time are you going to spend prospecting and getting trained/educated?  Does the company you are planning to associate with have everything that you are going to need to get started?
Some people hit the ball out of the park while others wait until they know it all and never get started.
  • July 07 2011
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We use to hear that for every 3 Realtors sworn in, only 1 will make it past their first year in business. In this market I would expect that number to be more like 1 in 6. I had agents make up to $100K in their first year but these agents WORKED! Education and effort will determine an agents success in this business. As stated previously, plan on making this a seven day a week 12 to 14 hour a day job. Best of luck!
  • July 07 2011
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Profile picture for Sharon Lewis
Anna
its a tough business, most new agents only last max 18 months. The costs associated with being an agent are huge, everytime you turn around you will find someone else has their hand in your pocket. The general public is under the misimpression that we make huge amounts of green, however most agents will make one or two sales a year (earning around 4-8 thousand total!!)
This is not a business for the faint hearted. Many of us who do well, start early and end late, working 7 days a week.
I listed and sold my first house in 10 days,two months after I got into business, in a tough market.
  • July 07 2011
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I know agents that have been in the biz for decades that haven't closed more than a couple of sales in the last year and are struggling to make ends meet. How much you make depends on the selling price of the homes in the area you serve, what the commission rate is, and how many homes you sell. It can vary greatly from one area to another. An agent selling homes in Beverly Hills could make more on one sale than an agent selling 30 homes in less expensive markets.
  • July 07 2011
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Profile picture for Cameron Keegan
Honestly, I don't believe there is any exact answer to how much the average Realtor makes in their first year.  I honestly think it depends on the person, how they approach the business, and the market they will be selling in.

As for my first sale.  I became a Realtor in April 2003, and closed my first house in July 2003 to some first time homebuyers.

I wish you all the best, but let me know if you have any other questions.
  • July 07 2011
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