Here’s how you can make $100,000 your first year as a real estate agent, step-by-step, and the process involved day-to-day to hit that goal. Enjoy! Add me on Instagram/Snapchat: GPStephan More information below...
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Anytime you set a goal in real estate, it’s really important to work backwards in order to find out how to hit that goal. Figure out how much real estate you’ll need to sell, the average price of a home in your area, and how many people you’ll need to meet to make those numbers work. For simplicity sake, lets just say you need $5,000,000 in sales to net $100k. Look at the average purchase price of the area you want to work in, or are working in, and divide that number by $5,000,000. We will assume you will need 14 homes to hit $100k in net commission at $350k average price. The next step is to figure out how you’re going to sell 14 homes…
And we’ll break it down further. In order to hit high sales numbers, you WILL need to prospect for business. It’s said that you’ll generally make about 1 sale for every 180 people you come in contact with. And by contact, I mean you actually have a conversation with them about real estate for the purposes of finding out if they want to buy or sell.
So with that, to sell 14 homes…you’ll need to meet 2,520 contacts over the course of a year, or 210 per month. This also works out to be an average of 7 contacts per DAY. So how can you do this? Here’s my ideal recommendation:
Going after expired listings:
https://www.youtube.com/watch?v=0tLnH96hRqE&t=25s
I’d also recommend holding open houses every single Saturday and Sunday. Just by doing this, you could easily meet another 3-20+ people in a few hours:
https://www.youtube.com/watch?v=qh-EeRId3OU&t=77s
The third option you can do is going after homes under construction. Walk in, find the contractor, and find out if the home is going to be sold or rented…if so, introduce yourself to the owner. Find out how much they want to list it for and bam…use this as an opportunity to pitch your services as a Realtor:
https://www.youtube.com/watch?v=5Zqvhh0VHtg&t=1004s
Finally, you can cold call or door knock for business. Especially if you’re aiming for a lofty goal of $100k in your first year, door knocking or cold calling will be pretty much required as you’re growing your business. You’ll need to build up a lot of contacts and a lot of experience quickly, and this is one of the best ways of doing this by just using your time.
But one of the largest components of all of this…FOLLOW UP. Don’t be afraid of being annoying. You will NEED to do this…yes, some people will get annoyed, but those aren’t the people you want to work with, anyway. Because if you don’t consistently follow up, you will lose out on business and all of your hard work will be for nothing.
Doing this consistently should lead you to about 14 sales, which should equate to $100k given a $350,000 sale price at 2.5% commission. If you’re in a higher priced area, this could actually lead to way more.
Now with something like this, a few things that I should mention:
When you’re just starting out, there’s a steep learning curve. You will mess up. You will make mistakes. That’s part of the process. It’s okay - it will take some time to find a balance of what works best with your style and personality. And finally, with something like this, personal work ethic matters a lot. The reason why most people fail is because they expect quick commissions or get into it for the wrong reasons. If you’re interested in real estate and really enjoy it, and have the self motivation to continue pushing through the times when you’re frustrated and feel like you’re not getting anywhere, you’ll do well. But how hard you push yourself will make the difference -you need to be consistent, and you need to be dedicated to hitting your numbers.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Anytime you set a goal in real estate, it’s really important to work backwards in order to find out how to hit that goal. Figure out how much real estate you’ll need to sell, the average price of a home in your area, and how many people you’ll need to meet to make those numbers work. For simplicity sake, lets just say you need $5,000,000 in sales to net $100k. Look at the average purchase price of the area you want to work in, or are working in, and divide that number by $5,000,000. We will assume you will need 14 homes to hit $100k in net commission at $350k average price. The next step is to figure out how you’re going to sell 14 homes…
And we’ll break it down further. In order to hit high sales numbers, you WILL need to prospect for business. It’s said that you’ll generally make about 1 sale for every 180 people you come in contact with. And by contact, I mean you actually have a conversation with them about real estate for the purposes of finding out if they want to buy or sell.
So with that, to sell 14 homes…you’ll need to meet 2,520 contacts over the course of a year, or 210 per month. This also works out to be an average of 7 contacts per DAY. So how can you do this? Here’s my ideal recommendation:
Going after expired listings:
https://www.youtube.com/watch?v=0tLnH96hRqE&t=25s
I’d also recommend holding open houses every single Saturday and Sunday. Just by doing this, you could easily meet another 3-20+ people in a few hours:
https://www.youtube.com/watch?v=qh-EeRId3OU&t=77s
The third option you can do is going after homes under construction. Walk in, find the contractor, and find out if the home is going to be sold or rented…if so, introduce yourself to the owner. Find out how much they want to list it for and bam…use this as an opportunity to pitch your services as a Realtor:
https://www.youtube.com/watch?v=5Zqvhh0VHtg&t=1004s
Finally, you can cold call or door knock for business. Especially if you’re aiming for a lofty goal of $100k in your first year, door knocking or cold calling will be pretty much required as you’re growing your business. You’ll need to build up a lot of contacts and a lot of experience quickly, and this is one of the best ways of doing this by just using your time.
But one of the largest components of all of this…FOLLOW UP. Don’t be afraid of being annoying. You will NEED to do this…yes, some people will get annoyed, but those aren’t the people you want to work with, anyway. Because if you don’t consistently follow up, you will lose out on business and all of your hard work will be for nothing.
Doing this consistently should lead you to about 14 sales, which should equate to $100k given a $350,000 sale price at 2.5% commission. If you’re in a higher priced area, this could actually lead to way more.
Now with something like this, a few things that I should mention:
When you’re just starting out, there’s a steep learning curve. You will mess up. You will make mistakes. That’s part of the process. It’s okay - it will take some time to find a balance of what works best with your style and personality. And finally, with something like this, personal work ethic matters a lot. The reason why most people fail is because they expect quick commissions or get into it for the wrong reasons. If you’re interested in real estate and really enjoy it, and have the self motivation to continue pushing through the times when you’re frustrated and feel like you’re not getting anywhere, you’ll do well. But how hard you push yourself will make the difference -you need to be consistent, and you need to be dedicated to hitting your numbers.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
is this a Possible to do while also keeping your previous full time job?
Thoughts on starting with a team? Obv you'll lose a good chunk of commission and have to sell more homes. But mine buys leads and really has an incredibly experienced team that is teaching me
Just about to get my license and will be doing it part time till I make more than I do at my current job. Let’s do this!
Can this apply to being a real estate agent in Toronto 🥺
Would you still give me a free coaching call if I purchased this today? 😉
Commenting for the YouTube algorithm
More realistically 2-5 clients per open house
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Thank so much for sharing all this precious information, really liked it. I’m about to get my license and I believe my first year will be very successful 🎉
The thing I’m stuck on is when working with a realtor do you bring in the cash buyer or do they or do you work together
I think once I have the equipments I’ll put in the work and I’ll make sales having a mentor is key too
Do or do not there is no try
Thank you for your content, very nice details and great information briefly, please do another one for this year 2023. Good luck.
You're a 1099 employee correct, so after taxes and deductibles, what does that look like,70-80k,maybe?
Question for real estate agents: How does bill gates owning massive amounts of farmland benefit the people?
Very useful information. Thank you!
AMAXING!
"$100,000 first year is uNrEALiSTiC!"
Hey, I've got big dreams! It's okay to have big dreams and to go all-in. Thanks for the video! I'm looking to get my real estate license and get started with Keller Williams after the new year. 😀
dang.. That's 13 homes in my areas market for 100k. It's actually veasible especially in todays market.
Holy Crap you mentioned Mike Ferry! I worked for his coaching sales department before. Fun stuff lol 🤣
Im getting ready to sit for my exam; im absolutely fired up by this industry 🤞 here's to $100K my first year.
Based on numbers given my dude made 375000 annually for ten years post housing crash
Graham!! I have been watching you for four or five years and you were one of my inspirations to pursue this career path. I’m happy to report that I’m going to close out 2022, my first FULL year on my own, with about $400k in GCI.
Thank you for your kind and generous help 🙂
Thanks Graham! I'm a new agent in Yuma and I appreciate the advice and insight.
Is this still true or do you have something new for 2022 and going forward?
The best investment one can do right now is investing on the stocks trading though forex are good but ever since I swapped to stocks I’ve seen so much difference in my finance
Graham is the face of YouTube fake financial gurus. Do you send a favor and don't make him any more rich. Keep your monty in your pocket.
Graham really knows his baseball terminology! Love this video.
its pretty crazy seeing your old videos and seeing how much the quality has improved
You explained this really well everything is about mindset and goal. It is possible and doable.😀👊