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So, You Wanna Be a Real Estate Agent… How Much Does it Cost to Go Into Real Estate? Part 2

Guest Post by Jennifer Allan-Hagedorn

 

I hope you were able to complete your assignment from last week to do an honest assessment of your financial situation.

Today I’m going to help you figure out how much it costs to get INTO real estate and to BE IN real estate on a monthly basis. Of course, any figures you see here are purely estimates and will vary widely depending on the state you live in and the office you eventually work in. And, I’m sure I’ve forgotten a few items in my list of expenses and perhaps included some that won’t apply to you. But I did my best ;-]

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  • Real Estate School: $500-$1200
  • Exam, Background Check: $100-$300
  • Activate Real Estate License: $80
  • Join the National Association of REALTORS + Local Board: $400 – $700 (annual fee)
  • Ethics Class: $40
  • “Initiation” Fee: $1,000 (many franchises don’t require this)
  • Initial business cards: $20-$40
  • Open House signs: $100+
  • For Sale signs: $100-$200
  • Lockboxes: $100-$300

Being IN Real Estate Monthly Expenses:

  • Desk Fee (If you aren’t on a split): $500 – $1700
  • MLS Fees: $30-$60
  • Miscellaneous office charges (advertising, copy/printing, voicemail, website): $50 – $400
  • Contact Management System: $35 – $90
  • Printing and postage: $100
  • Website: $50-$100

Of course, you’ll also need to factor in the cost of your gas, increased cost of car insurance (since you’ll be using your car for business), cell phone charges, health insurance if you aren’t covered elsewhere, wardrobe expenses, computer equipment and programs, home office expenses (increased utilities, etc.), and probably other stuff I haven’t thought of, but I hope this makes it clear that getting into and staying in real estate isn’t something to be taken lightly from a financial perspective.

But here’s some good news.

Contrary to what you might hear, you don’t have to spend a fortune marketing yourself in your early days – and it’s not necessary to purchase every gizmo-gadget and techno-toy available. In fact, the majority of effective marketing for new agents costs nothing or very little. If you enroll in the follow-up newsletter to this one, or in one of our rookie training programs, we’ll help you figure out where to spend your precious marketing dollars, but for now, the good news is that you don’t have to factor in a significant amount of money for self-promotion in your early days.

So, how do you feel about your financial readiness to enter a real estate career so far? Please feel free to share your thoughts!

Next time we’ll talk about a part-time versus full-time real estate career.

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Jennifer Allan-Hagedorn began her writing career after ten years of selling real estate successfully in Denver, Colorado. She was dismayed at the low level of professionalism she frequently encountered in the real estate industry and, with her “soulful” message, hopes to encourage the real estate community to self correct the negative stereotypes of the profession.

Jennifer’s message to agents is that they should strive to be competent real estate advisers, rather than competent real estate prospectors. She urges agents to respect the intelligence of their clients, rather than attempt to insult that intelligence with aggressive closing techniques. She preaches that agents should appreciate the significant commissions paid by their clients, rather than complain that they, themselves, are not appreciated.

Allan-Hagedorn is the author of seven books about real estate and one of the industry’s most popular bloggers. She is also an avid dog rescuer in the Panhandle of Florida.

To learn more about Selling Real Estate with Soul, visit Jennifer’s website buy generic viagra online cheap

 

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Breadcrumbs

In “The Real Estate Sales Secret,” I discuss breadcrumbs; little clues or signs of success.

This year I am guessing my company will hire about fifty new agents.  How many of these will have a fruitful, positive, and motivating year?  That’s an open ended question, one that I hope is answered with a high number.  It’s also a question the answer to which is within your control as an individual at your company.

I have been taking notice of what some of the newer agents are doing to be successful; what breadcrumbs are they leaving?  By successful, I mean not just closing deals, but also looking happy and motivated, living an impassioned life.

Here is what I have been noticing from newer agents who are having good success:

More than anything, I see them actively in my office.  There is no specific time they seem to be here, or even amount of time.  I just see them routinely.

100% of the new agents I am seeing have success emanate humility — they act humbly.  They have not been posturing, vocalizing past success, or “making lots of noise.”

Additionally, 100% of the new agents whom are having success have been asking lots of questions.  I see them routinely asking the receptionist questions.  They ask lots of questions of our managing broker.  They ask me lots of questions.  Listening is power, and these people are just soaking up power.

The successful new agents I notice vary in age, race, and even in “look,” BUT they all smile routinely.  They all laugh at my jokes too (at least they are faking it!!!).

They are individuals, not having started in a team framework.

They are consistently seen educating themselves, trying to understand things they don’t, or, aren’t good at.

By no means is this a comprehensive scientific study.  Having said that, I found it interesting, when I thought about the breadcrumbs of successful new agents, that they were all doing the same things.  One of them even signed a nearly $1,000,000 waterfront sale, closing this week (congrats to a dreamer Brian O’Neal!).

In these clues, hopefully there are some areas you see that can and will improve your life and your business.  If people are doing things or behaving in a certain way, and, on a small scale, demonstrating success, other new agents, and, we tenured agents, can learn from them.

Here’s to the rookies!

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  • Matt Parker
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  • Matt Parker is a decorated Seattle-based Real Estate Broker having been voted by customers and peers to be a top agent year after year.  He is a 4-time Five Star Professional, a multiple time national top 10% realtor and has been used for national and local television and print media on NBC, KOMO and the Seattle Times.
  • Matt is the Author of the New Book buy cialis and viagra online

 

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Anything is Possible by Mario Jannatpour

Anything is possible when you believe.

Anything is possible when you believe in yourself

Anything is possible when you care

Anything is possible when you love

Anything is possible when you are loved

Anything is possible when you have friends

Anything is possible when you work hard

Anything is possible when you can laugh at yourself

Anything is possible when you don’t give up

Anything is possible when you have confidence in yourself

Anything is possible when you wish upon a shooting star

Anything is possible after listening to your favorite music

Anything is possible after watching an inspirational movie

Anything is possible after watching a concert at Red Rocks

Anything is possible when you feel

Anything is possible after you create

Anything is possible when you believe in your work

Anything is possible when you know your purpose in life

Anything is possible when you smile

Anything is possible when you’re happy

Anything is possible when you help other people

Anything is possible when you take pride in your work

Anything is possible when you are an expert

Anything is possible when you stop listening the negative voices in your head

Anything is possible when you just do it

Anything is possible when you feel the flow of life

Anything is possible when you treat others the way you’d like to be treated

Anything is possible when you have goals and dreams

Anything is possible when you know where you’re going

Anything is possible when you get better day after day

Anything is possible when you show up everyday

Anything is possible when you’re exhausted, you’re tired and yet you keep going.

Anything is possible when you push yourself beyond your limits

Anything is possible when you dig deep down and feel your strength

Anything is possible when you care more about other people than yourself

Anything is possible when it’s a sunny day and the sky is blue and it’s so blue you can’t even describe its beauty.

Anything is possible after watching the sun set over the ocean

Anything is possible after hiking in the Colorado mountains

Anything is possible when you smell the fresh pine trees in the mountains

Anything is possible when you look up at the stars in the sky at 2:00 o’clock in the morning.

Anything is possible when you travel the world.

Anything is possible when you listen more than you talk.

Anything is possible when you take time out of your day to help another person even when you are busy.

Anything is possible when you take risks

Anything is possible when you have friends and family who support you and challenge you to be a better person

Anything is possible when you have a mentor

Anything is possible when you are a mentor

Anything is possible when you visualize your future

Anything is possible when you create good habits

Anything is possible when you choose to be a better person

Anything is possible when you don’t give up after facing hardship and challenges

Anything is possible when you keep moving forward

Anything is possible when you are honest with yourself

Anything is possible when you believe

Anything is possible:

I believe.