The reason most start a career in real estate is for the money. Although I don’t necessarily agree with the intent, there is some validity to it. The sky is the limit for real estate agents to earn a substantial income.
It can take time to build or establish a high paying real estate career although not unheard of to make 6 figures right out of the gate.
So how is this done? What are the ways to make big money as a brand new real estate agent?
3 Ways to make a 6 figure Income Your First Year In Real Estate
Get a Mentor
This has to be the best way to make the most money in real estate. Finding someone that has already done it that is willing to teach you is absolute GOLD. The process of selecting the mentor is very important as it can’t be just anyone. As well the purpose and mission of the relationship must be clearly stated and defined from the beginning. The idea is to meet regularly, set definite goals and follow through. A mentoring relationship is very different from coaching. Coaching is task oriented where mentoring is knowledge oriented. So ensuring the mentor has the knowledge you seek is important as well.
Go into the office
This one goes hand in hand with finding a mentor. Surrounding yourself with those who came before you is certainly a way to learn how to make the most out of your real estate career. There is also something about the energy and atmosphere that breeds success. Make going in to your office a regular occurence and you will begin to see the money flow in no time. You never know what situation or scenario you will encounter when in the office. Opportunities may and likely will just fall into your lap.
Get Out of the Classroom
I once heard a quote that so accurately depicted the dilemma most real estate agents face in the beginning of their careers that hinder their ability to earn a desirable income substantially. “Training without Implementation is Just Entertainment” – Karen Briscoe The biggest misconception fed to newly licensed real estate agents is the importance of formal training. Although training is important, being a career student will not get you paid. Meeting people first and making sales first, training second. Being in the field will teach you far more then listening to a lecture ever will. Further, if you do spend time in a classroom learning take the training and apply it to your every day business. The biggest mistake real estate agents make is spending a day or a weekend at a training program only to leave the knowledge in a mess of papers on their desk. Virtually wasting all of the time and money spent.
Choosing even one of these 3 things will ensure a great pay off in your first year of real estate and beyond. Combining them guarantees it.
You will notice that none of the suggestions involve gimmicks or tricks. There are no get rich quick schemes to making big money as a real estate agent. Hard work and dedication is a must, so is massive action.
Get out there and get selling.
How did you do in your first year of real estate? We’d love to hear your story.