Many people get their real estate license for various reasons. Some people have a definite clear-cut goals before the even passed the exam. Others just wanted a change in their career to have more time. Whatever the reason is, there are three key questions that must be answered before you know just how successful you will be as a real estate agent.
but they should.....
How much money do you want to make your first year? Most people do not even consider to ask these questions before they pass the exam! But really how much money do you want to make? The answer to that is crucial for questions 2 & 3 so first determine your money goal. Lets assume your goal is $100,000 in net commissions. PERFECT! Check out question 2.
How much time do you have to invest daily to learning and practicing sales? Assuming your goal is $100,000, you must consider how much time energy and effort it will take to learning a new industry. Let’s assume you have a full eight hours to devote in the first 12 months. You’ll need to know the next question absolutely.
How much money do you plan to invest in your business every month? Let’s assume you have $1000 to invest every month after start up cost.
So it works like this. If you plan to be a full-time agent, and want to make 100,000 in your first year, $1000 monthly capital investment is feasible.
As the average price point of home sales in Florida is 250,000 and your commission split is at 3%, in order to make 100,000 in the first year you will be selling 1-2 homes each month. on average
while there is no cap to how much money you can make and how many homes you can sell, Knowing the answer to this will determine just how committed you are to your new career.