Agent2Agent in 11370>Question Details

Kristi, Other/Just Looking in 11370

Are franchise realties the best way to go your first year or smaller companies? Are rentals better to do first and then move on to sales? Any advice?

Asked by Kristi, 11370 Wed Mar 7, 2012

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This is a high risk high reward industry and is not for the faint of heart, only about 15% of all Realtors® earn a living doing real estate the rest are just hobbyist. About 90% of new agents fail in the first 2 years. The odds are not in your favor! But there is HOPE the number 1 “secret” to success is obtaining leads. There are good 2 ways to go about this the first is to have a couple of investors (flippers) in your pocket which will provide you with a base going forward, the second and I think the best way is to find an older very successful Realtor® who is considering a more limited role in real estate and become their apprentice for a couple of years. They will hand feed you like a baby bird until you can fly usually (years). They will hand feed you their business and in return you will have to share your earnings with them, this is one of the best ways to become a successful and skillful Realtor®. Also many Realtors® and brokers will go on and on about training this is NOT the most important issue, the brand is not the most important issue, developing leads is the most important issue the other stuff is just fine tuning your business model and selling skills.
0 votes Thank Flag Link Thu Mar 8, 2012
That is a great question. The reality is we end up working the segment the market presents. You go where the business is. In Florida, It's a buyers market and working with buyers is the ticket. There are many types of buyers and many places to find them. The best position is working closely with a pool of investor types. They really don't care if the carpet is worn and the places smells like a cabbage plant.

As Javier Meneses stated, go with an office that is doing business. Don't take the broker's word for it, do the math. Total 2011 transaction / number of agents. The office whose agents average the highest transactions per agent has something going on. Most likely a great mentoring program. The office with a highest volume of activity is most likely to get you to a paycheck the soonest. Look at the numbers, the results. It will be your life.

The path to the quickest paycheck is working with buyers. You are potentially 30 days from a payday. After all, that why most folks got into real estate, they think they like showing homes. Now, those who have been in this business more that 5 years will confirm selling homes (listing) is where you MUST end up. So, why not start on that path now? You can. The broker you choose can provide you a list of 50 to 150 home owners who want to sell their home and have been unsuccessful. (perhaps you should confirm) What more could you ask for to get your feet in the water.

If the broker you choose has a good mentoring program, you will learn what you need to know when you need to know it. Transactions build you bank account, training does not. Go where the business is. Follow the leads.
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1 vote Thank Flag Link Thu Mar 8, 2012
Btw, I only suggested to go to one of the top offices because it's important to gt started in a productive office and get started in the right atmosphere.
1 vote Thank Flag Link Wed Mar 7, 2012
If I was you I would look for one of the top offices in the area you're looking to get started in. Sometimes a franchise office happens to be one of the top offices, other times it isn't. Go to an office that will give you good training. There are a lot of smart people running both franchise and non-franchise companies, as well as some not too smart ones too.

As far as doing rentals or sales, I think that too comes with where you're looking to work. If there are tons of rentals in the area, you're probably not going to avoid them. There are other areas that hardly have rentals. I guess it's just one of those things that just fall into place as time goes by. You'll k ow when you can determine what you'll end up doing.

Good luck!
1 vote Thank Flag Link Wed Mar 7, 2012
plus... you'll get a steady paycheck!
1 vote Thank Flag Link Wed Mar 7, 2012
What about being an assistant 1st? it's a GREAT way to get to know the in's & outs, paperwork, lingo etc.
1 vote Thank Flag Link Wed Mar 7, 2012
You have to look at a whole picture. For me a good place to work is very important. A company with a good reputation and good leadership. Having a franchise name does not define the type of office it is. Talk to the agents sometimes you'll get a better understanding of the company. Rentals are good because they are faster money to start then you can move on to sales. If you come my way feel free to come in for an interview
0 votes Thank Flag Link Wed Mar 7, 2012
Kristi, people don't hire companies, they hire people.

Situate yourself with a broker who will offer support and personal training and a group that has a corporate culture that makes you feel comfortable.'

Rentals, sales, commercial, residential, business brokerage? Don't limit yourself...get experienced in all of it and make the money where you can.
0 votes Thank Flag Link Wed Mar 7, 2012
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