Do you dream of earning a substantial income as a real estate agent in your first year? Are you curious and wondering, “Can I make 100k my first year in real estate?”
The truth is, it's possible, but it requires hard work, determination, and planning.
The real estate industry is a lucrative field, but it's also highly competitive. According to the National Association of Realtors, there are over 1.4 million real estate agents in the United States alone.
So how do you stand out and make a six-figure income in your first year?
Look, we all know that real estate is challenging, but it’s also a rewarding career path, and many agents begin their journey with the dream of making $100,000 in their first year.
If this goal seems daunting, don’t worry, you can absolutely make it happen! The key is to have the right strategy and support as you enter the real estate business.
In order to succeed as a real estate agent and earn six figures in your first year, you need to develop a strong work ethic, build a solid network of contacts, and implement proven strategies.
Ultimately, the success of your real estate career will come down to you. But, with the proper support and guidance, you can achieve your goals and make six figures in your first year as a real estate agent.
Becoming a real estate agent is an exciting career choice that can lead to a six-figure income if done correctly.
However, like any profession, it takes hard work, determination, and a strategic plan to achieve financial success.
Here are some strategies to help you make six figures in your first year as a real estate agent.
- Get Organized
- Join A Successful Brokerage
- Create A Solid Marketing Plan
- Network, Network, Network
- Be Responsive And Available
- Focus On LIstings
- Have Outside Help
So if you’re wondering, “Can I make 100k my first year in real estate?” It is possible to have a clear plan, work hard, and stay focused on your goals.
Join a successful brokerage, create a strong marketing plan and network, be available and responsive, and focus on listings. With time and effort, you can build a successful real estate career that leads to financial stability and success.
But before all else, you need to become organized.
Get Organized
Starting out, there are a lot of things you’re going to learn about that you didn’t know before.
There are many demands on your time, from prospecting, networking, and marketing, to meeting with clients, completing paperwork, and scheduling showings and viewings. As a real estate agent, staying organized is crucial to your success.
With so many clients, listings, and appointments to manage, it can be easy to feel overwhelmed, so you must develop systems in your business to track and manage all your tasks effectively.
That’s right, I said business because that’s what you’re running, a real estate business.
And just like your local restaurant, you need hours of operation, and each function of the restaurant needs attention, from the dish room to the cooks, the servers, and others, in order for the restaurant to succeed.
One of the best ways to stay organized is to use two different time management and productivity hacks. I like Time Blocking to set my tasks into specific chunks of the day and the Pomodoro Method to maximize my efforts and productivity.
You can choose to use a digital calendar and scheduling system to help you with these tasks, and it will allow you to keep track of your appointments and prioritize your time effectively.
Additionally, using a CRM (customer relationship management) system can help you keep track of your clients and their needs.
Being organized will not only make your job easier, but it will also help you provide better service to your clients.
Join A Successful Brokerage
The brokerage you choose to work with can significantly impact your income potential. While your commission split is an important consideration, it shouldn’t be the only thing you hang your hat on when selecting the brokerage.
A successful brokerage will offer training, support, and a well-known reputation that will attract clients. In addition, they will have plenty of people around that can help you get set up, guide you, and in some cases, mentor you so that you can get your business off the ground and running.
Starting out, you want to look for a brokerage with a proven track record of helping agents achieve financial success in their first year. Then, once you’ve got some experience under you, you can reevaluate the brokerage and its value.
Some more experienced agents choose to work with online brokers like EXP, which provide a much better commission split than traditional brokers. Still, you’ll be left to do much more of the paperwork and other tasks that a traditional brokerage will provide you starting.
Create a Strong Marketing Plan
Like any business, you need a strong marketing plan to attract clients. One different thing is that real estate is in the relationship business, so your marketing should reflect that critical point.
Develop a clear, concise brand and create a professional website showcasing your experience, knowledge, and personality.
Utilize social media platforms to reach a broader audience and consider creating targeted advertising campaigns to attract potential clients directly.
One thing I use constantly and see consistent results with is that every day I send out 10 video text messages to people in my sphere. I don’t do any business videos; these are personalized little messages that I record from my phone to say hi or talk about something in their lives and that they were on my mind. It’s that simple.
Network, Network, Network
Networking is vital in the real estate business. Attend industry events, join networking organizations, and participate in community events. Work with lenders on co-branding messaging when possible.
Build relationships with other agents, mortgage brokers, contractors, lenders, and industry professionals who can refer clients to you. Your network can be a great source of leads to help build your client base.
You should have a go-to list of professionals you can refer your clients to that will help them resolve different things that the client needs. By helping others, you will build a reputation of helpfulness and stay top of mind, a benefit to the idea of reciprocity, which is the idea that helpfulness is returned.
Be Available and Responsive
As a real estate agent, you must be available and responsive to your clients' needs.
Respond quickly to their phone calls, emails, and text messages.
Build a reputation for being reliable, knowledgeable, and professional. By providing excellent customer service, your clients will refer you to their friends and family, expanding your client base.
Focus On Listings
Listings are the lifeblood of a successful real estate career.
Focus on getting as many listing appointments as possible. If you’re curious, can I make 100k my first year in real estate? Listings are the best way to achieve that goal.
The key strategy I use to win the listing before I arrive is to create a video that addresses specific questions and concerns a prospect has about selling their homes. Then, I address these concerns and provide real solutions that show how I can provide answers and value to the client if they sell their home with me.
Once you secure a listing, market the property aggressively, utilizing high-quality photography, virtual tours, and detailed descriptions. You can attract more potential buyers and build your reputation as a successful agent by showcasing your listings.
Get Professional Help
With all the demands on your time and energy, it’s easy to slip up or make impossible goals without any steps to achieving them.
That’s where getting outside help from a professional real estate coach is crucial to achieving $100,000 in your first year (or any year) of real estate.
A professional coach is someone who has experience in the industry and has insights into developing systems that will help you accomplish your goals. What’s more, a coach is a person that can help keep you on track and accountable for your progress. Some of the benefits and systems a coach will help you devise include:
- Developing an Effective Business Plan
- Building a Solid Network
- Developing Effective Marketing Strategies
- Managing Your Time Effectively
- Providing Ongoing Support and Accountability
If you want to succeed in real estate, working with a coach is a wise investment. Not only will they support you, but they can help you achieve your goals. So start your journey to success in real estate today by working with a coach.
