They each have 780+ credit scores 4. So these numbers that we're going to use here and how this math is broken down has worked to an absolute T in my business as well as a lot of our agents and a lot of people that have used a structure like this have seen these numbers work perfectly. So five days a week for 50 weeks based on the number twenty five hundreds of the number of people that you need to meet in order to get one hundred people or households into your database. Most people think of sphere of influence - or direct business from family and friends - when they think of starting a business in real estate, and there is merit to this. And you may have heard these numbers break down in different ways and how many people you need in your database in order to reach a certain income goal. Here I was coming from a desk job where people sought me out to buy a home and transitioning to a career that, in essence, was just the opposite. So you gotta get your money, your people and your deal together and if you can do it three or four times in the year. If you follow this 33 touch plan as well as these numbers then you should be right in line. OK. Well If one in 25 then the one hundred times twenty five which puts us at twenty five hundred people so we have to meet twenty five hundred people in order to get our database number up to 100. Your email address will not be published. For the sake of this we're using one thousand dollars per one household or one person depending in your database and this is a very commonly used metric that you can use and you can follow; but again, you have to interact with your database on a regular basis. There are so many new home communities out there, which means the opportunity here is vast. Another big deduction category comes from office supplies, which can range from your typical paper and pens to a new camera, tv, or even your phone bill. Copyright 2021 Kyle Handy, all rights reserved. Now I was hustling, hungry for that next lead, and having to do my prospecting to get a name on the board. Now that number can shift a little bit. One thing I want to make clear, if you do not want to make over $100,000 in your business, that is OK. Maybe your goal is to make $50,000? I would also offer to do, My marketing consisted primarily of Google Ads. As a new real estate agent, you may feel like establishing a steady income will take years - but it doesn’t have to be that way. **eXp Realty Earnings Disclosure** - The earnings portrayed are not necessarily representative of the income, if any, that an eXp agent can or will earn through his or her participation in the eXp Sustainable Revenue Share plan. [00:00:11] Hello and welcome back to Rev Real Estate School. Instead, I learned the importance and effectiveness of staying “top of mind” within your current network. How to Make $100,000+ Your First Year as a Real Estate Agent is more than just an introduction to the ins and outs of the industry; it's a step-by-step guide to beginning your career, with insider advice on how to build a lucrative real estate practice. So we've seen this work quite well and we've tracked it and the number of people that you talk to one in about twenty five will enter your database if you're having the right conversations with them. [00:07:38] This episode of Rev Real Estate School has come to a close. However you might also be thinking OK well that's one year. If you follow our 33 Touch Plan, then you are putting yourself in a position to each $1,000 per household. Reach out to them, stay in touch with them. One way to do this is to pull up expired listings and For Sale by Owner. Truly understanding your financial picture—and being prepared for what’s to come—is the most important step to achieving success during your first year in real estate. And while some agents make big money very early, many don’t. This goes up to $38,141 between years one and three. Thanks again for listening and we'll see you in the next lesson. How to Make $100,000+ Your First Year as a Real Estate Agent is more than just an introduction to the ins and outs of the industry; it's a step-by-step guide to beginning your career, with insider advice on how to build a lucrative real estate practice. And it's very market dependent. Each household is worth $1,000/year and you need to meet 25 people to add 1 to your database. What do you know now that you wish you knew then? How many people do we have to meet in order to put 100 people into our database? Also, depending on what part of the country you practice in, it may be easier to achieve an income of $100,000 or more without doing all these steps. Although rentals weren’t particularly lucrative for my business, I would say there are pros and cons to investing your time here. The agent may be out of town or focusing their business on listings, for example. [00:00:00] Hello and welcome to Rev Real Estate School. My First Year Real Estate Agent Income in a New State. When Torres first got into real estate in 1997, he was making only about $25,000 a year working at a construction company. How to Make $100,000+ Your First Year as a Real Estate Agent is more than just an introduction to the ins and outs of the industry; it's a step-by-step guide to beginning your career, with insider advice on how to build a lucrative real estate practice. In that first year, if I wasn’t hitting the streets talking to people and networking, I was at home working systems and mastering the art of marketing. Jump-start your real estate career! I had worked in new home sales for five years, and while I gained a great deal of industry knowledge from that position, I knew that general real estate would be a whole new ballgame. Now you may be thinking that if you add 100 people to your database over the course of 1 year, then you may not be at $100,000 that year and you would be right, but I can guarantee that you will produce at a higher level than if you did not do this. I've been doing my due diligence to find out how to become the best in my city here in Dallas, and your content has been very helpful! Or you reached out to agents from your hometown. That doesn't necessarily mean I'm going to make one hundred thousand dollars that year. Over time, I had established such a presence in the different builder communities that I was asked by several managers to speak at their weekly sales meetings. And now your host Michael Montgomery. [00:05:56] I've seen this work absolutely perfectly. As you have certainly gathered by now, real estate is all about relationships. by Kyle Handy       Updated October 29, 2020. The podcast with quick tips and actionable advice to help you sell more real estate in today's world. I'm your host Michael Montgomery. Lisa has $30,000 in her Roth IRA 6. My business today looks much different than when I first started. Let us know where you did that. I would also offer to do open houses on inventory homes, or sit in on their model home as needed. My journey in real estate began in October 2013, right before the birth of my first child. Check out my Partner Page for details on the benefits of working with me at eXp Realty. We purchased our SUV under our business account and were able to take advantage of this deduction. Staying close and relevant to those who are already on your side is enormous. So three or four deals, that’s all you need. I invested $22,000 in Google Ads that year, with a return of $19,324. It may be strange to ask your preferred lender to send business your way, but in the end, you are both working toward a common goal. **Affiliate Disclosure** - I sometimes use affiliate links in my content. And remember we're assuming that this person doesn't have anybody in their database who doesn't know anybody in their community. So you can trust these numbers. The following section is not formal tax advice, so please be sure to get in touch with your CPA for more information and guidance. My daughter only went to daycare 2-3 days per week, and my husband travels a lot for work. How to Make $100,000+ Your First Year as a Real Estate Agent is more than just an introduction to the ins and outs of the industry; it's a step-by-step guide to beginning your career, with insider advice on how to build a lucrative real estate practice. Nothing has staying power as far as investments go like investing in real estate does. And I think this is very reasonable. This goes up to $38,141 between years one and three. Regularly getting in front of them showed them that I was hungry for business, and I was willing to work for it. 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