[JOURNEY] Becoming a Real Estate Agent (Realtor) from Scratch to Earn Six-Figure Income in One Year

Big Ron

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More Lead Sources. I found these on my Zillow backend dashboard.

Supported Lead Sources
  • Realtor.com®
  • Homes.com®
  • HomesConnect
  • Market Leader®
  • BoomTown®
  • BoldLeads®
  • First2Contact
  • HAR
  • Homebidz™
  • HomeLight®
  • HouseValueStore
  • iHomefinder
  • IDXBroker
  • Kunversion
  • TigerLead®
  • Zurple®
  • Landwatch
  • LeadRouter
  • ListingBooster
  • MLSFinder
  • RealtyStore
  • RealtyJuggler
  • Instapage
  • TeamLeads
  • USHUD
  • FollowUpBoss
  • CommissionsInc
  • 800homehotline
  • PrivateCommunities
  • Offrs
  • RealEstatePipeline
  • LoopNet
  • LionDesk
  • PropertyPulse
  • Firepoint
  • VeteransUnited
  • BackAtYou
 

futuremills

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And just like establishing E.A.T. In the blogging world (authority), you have to show you are good at what you do. Pictures of happy clients at closing are great marketing tools.

View attachment 164091
Awesome thread, how did you get that social proof without the clients when you first started. I am new to the game and wont have happy clients to show off when i first start

Any update on your journey. Great thread
 

krist

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Speaking of Blackhat, my broker pays for Zillow ads. When buyers are looking at homes on Zillow and decide to call about it, Zillow connects them with our agents. The problem I'm running into is sometimes I can't take the call. I'm either with another customer or on the phone, literally. Since our incoming Zillow calls are on a round-robin basis, meaning if I don't answer fast enough someone else on our team can get it first, I wish I could figure out how to snatch a call without taking it...if that makes sense. The simple solution is to ask my current call to hold but it doesn't feel courteous and Zillow requires several touch tones to actually get to the customer. So the current call would be on hold for a bit.

Anyway, just trying to figure out how to stall an incoming call long enough for me to get to it first.

Check out "Jills Office"

I've used them for running pay for performance lead gen. You just give them scripts, they can book appointments for you and sync to your calendar and all sorts of stuff.
 

Big Ron

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Awesome thread, how did you get that social proof without the clients when you first started. I am new to the game and wont have happy clients to show off when i first start

Any update on your journey. Great thread
I don't know that I had any real social proof when starting real estate. I did start selling rather quickly and had seven deals closed in the first two months. So I used that to spam my FB feed showing pictures of us at closing, holding up the big house key. Then posting their positive feedback on Zillow, etc. Each and every little thing was a separate post.

However, and here's the update, I didn't sell jack shit for two months since then. I logged over 15 rejection offers in a row.

Jan - sold 4, commission was about $4500 after paying all my splits to the broker
Feb - sold 3, commission was about $6700 after...
March - sold nothing and basically collected all the money made in Jan/Feb...because it takes that friggin' long to get paid.

No sales in March meant no money to collect in April.
No sales in April...means not money collected in May.

I have had 15+ offers written. So it isn't that everything just shut down. What happened is the supply of houses on the market to sale dried up.

For every offer I wrote, just about, there were literally 10-20 other competing offers. In most cases, I lost out to all-cash offers.

So it didn't matter how awesome my lender-backed offer was...nothing completes with an all-cash offer.
 

blackbeans

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I don't know that I had any real social proof when starting real estate. I did start selling rather quickly and had seven deals closed in the first two months. So I used that to spam my FB feed showing pictures of us at closing, holding up the big house key. Then posting their positive feedback on Zillow, etc. Each and every little thing was a separate post.

However, and here's the update, I didn't sell jack shit for two months since then. I logged over 15 rejection offers in a row.

Jan - sold 4, commission was about $4500 after paying all my splits to the broker
Feb - sold 3, commission was about $6700 after...
March - sold nothing and basically collected all the money made in Jan/Feb...because it takes that friggin' long to get paid.

No sales in March meant no money to collect in April.
No sales in April...means not money collected in May.

I have had 15+ offers written. So it isn't that everything just shut down. What happened is the supply of houses on the market to sale dried up.

For every offer I wrote, just about, there were literally 10-20 other competing offers. In most cases, I lost out to all-cash offers.

So it didn't matter how awesome my lender-backed offer was...nothing completes with an all-cash offer.
How much are 3br 2ba single detached homes in your neck of the woods, Ron?
 

futuremills

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I don't know that I had any real social proof when starting real estate. I did start selling rather quickly and had seven deals closed in the first two months. So I used that to spam my FB feed showing pictures of us at closing, holding up the big house key. Then posting their positive feedback on Zillow, etc. Each and every little thing was a separate post.

However, and here's the update, I didn't sell jack shit for two months since then. I logged over 15 rejection offers in a row.

Jan - sold 4, commission was about $4500 after paying all my splits to the broker
Feb - sold 3, commission was about $6700 after...
March - sold nothing and basically collected all the money made in Jan/Feb...because it takes that friggin' long to get paid.

No sales in March meant no money to collect in April.
No sales in April...means not money collected in May.

I have had 15+ offers written. So it isn't that everything just shut down. What happened is the supply of houses on the market to sale dried up.

For every offer I wrote, just about, there were literally 10-20 other competing offers. In most cases, I lost out to all-cash offers.

So it didn't matter how awesome my lender-backed offer was...nothing completes with an all-cash offer.
thanks for the info!
what form of marketing would you say worked best for the first 7 deals? what form would you say was a waste?
were your commissions about 4500 each home and 6700 for each home in Feb?
How many hours per week would you say you are driving and showing to buyers

great stuff on this journey!
 

ladyboyboom69

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Hey Ron, I have spent the last hour or so going through this whole thread. I gotta say...bravo! I passed my RE exam in Southern California last year and just barely signed with a broker just last week ( Century 21). Anyways since I have a Digital Marketing firm here in Los Angeles that is mostly automated already, I choose to go into RE since I bought a property here in LA 2 years ago and started getting interested in it, primarily to invest and do AirBnB. Anyways I plan on hustling in RE for the next year and move to Hawaii with my wife and possibly do RE in Hawaii once I move.

I've been processing your whole journey and gotta thank you for all the details you have added. I wanted to ask you how much you are budgeting for your digital ads? have you had any luck with Google ads or Facebook Ads? I have access to a call center so I worked out a deal with them on a very small base + commission to call expired listings and other leads ( I'm still trying to find more resources for more expired listings ).

Anyways hope all is going well and you are up from your dry month.
 

Big Ron

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Quick update for July

  • I literally logged about 18 rejected offers in a row! Jan & Feb I sold like crazy and collected most of that in March. Which made me fairly lazy in March as I started enjoying what was coming in. But I quickly realized I had nothing coming in for April so I put the hussle back on.
  • April May and most of June I didn't sell a single thing. All rejections. Mostly lost to all-cash offers. Sometimes it was my FHA buyers getting beat by conventional loans.
  • Finally mid to late June I started selling again.
  • $630,000 farm earned me a $6300 check. Another sale landed me $2348 and a similar one landed me almost the same at $2358. A fourth landed me $5200. I'm still waiting to get paid on the 5th due to lagging paperwork and signatures on addendums.
  • So July netted me over $15,000 and some money is still coming in...but I'm back to zero in the pipeline again. So time to get after it.
What would I say works best?

  1. Zillow ads. Man, some agents really hate Zillow. And I mean HATE Zillow. But the truth is, you pay for ads and you get leads. My current budget is only $200/mo. But Zillow allows you to have lenders co-sponsor your Zillow ads up to 50%. So I spend $200 and I have my most commonly used vendor covering $100...for now. When I can afford more, I'll put in more. I get over 15 leads per month from this and they are solid leads...for the most part. Some are junk, nothing is perfect. But I also have to scavenge from territories that are not already bought out. See, Zillow only sells so much advertising in each region. So I can even buy ads in the hot towns. I have to buy in the outskirts where the scraps are...which I'll do for now.
  2. For now, I work for a broker who feeds me his leads. But he gets a 50% cut of everything. But he pumps over $4000/mo into Zillow. So while I'm new to the game, I'll gladly pay him a portion to put qualified leads in my pipeline.
  3. BoomTown is a terrific CRM if you can afford it. All my leads immediately get put on drips that automatically email and text each lead, depending on what they are doing. And it sends email alerts to the leads based on what they looked at so they get immediate leads when houses come on the market that matches what they were looking at.
What doesn't seem to matter?

  1. Putting tons of hours into an agent Facebook page. All the hours spent crafting images of me and my clients celebrating on signing day. All the daily articles I posted to run one per day for 90 days. All that social media fluff...doesn't really matter. What matters is that your face is on the ad where the buyers are looking at houses (ie., Zillow).
  2. People who won't consider talking to a lender to get pre-approved until "after I find the house I like." Dude, by the time you get approved...the house you finally found is gone. "
  3. People who talk a lot about how they are paying all cash. Yes, cash buyers are nice. But in my experience, the people who constantly say they have cash and are buying with cash tend to be all talk and no bite. I had a guy put in an offer for $1.3M and his offer got accepted. Then he decided he didn't want it and walked away. Everyone was pandering to him because he had "all cash" and was from the California coast. In the end, he just wasted everyone's time...including mine.
  4. People who say "I'm not going to bid against other people" or "I'm not participating in a bidding war." Outbidding..is the name of the game and if you don't have the jewels...stay home...in your rental.
  5. People who say "I'm going to wait until the market calms down." Bro, that's cool but the house you passed on will be 30% higher when you decide to buy it in three years.
Finally thoughts: plan for rainy days. Pay your mortgage up for a few months in advance when the money is flowing. Because you never know when it will dry up.
 

Big Ron

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Here's some data from my Zillow ads:

1627359108644.png

So $200 on my part and $100 on my lender's part and we both get 14 chances to land a sale. Me for real estate and her for a loan.

You can't always answer the calls when they come in, or at least, I haven't figured out a hack to do so. Sometimes you are on the other line. Other times I haven't turned my ringer on yet and a call comes in a 8:04am. Sometimes you just miss the call. So I'm at a 67% answer rate which needs help.

Here's some other data from Zillow:

1627359427345.png

Pretty self explanatory. Share of Voice means how much of the exposure you get for that zip code. 83342 had so few people buyings ads, for $14/mo I get all the calls but it is only 3-4 leads per month. But hey, for $14... and the average house in that area is $249k.

Zillow even offer Ad Bonus, which I haven't grabbed yet. The more you spend, the more they match and give you.

83335 zip code seems to be lacking in stats. Might be time to switch to a different zip.
 

RRunner

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Pay your mortgage up for a few months in advance when the money is flowing. Because you never know when it will dry up.

Mortgage!? I'm an all-cash playa! Didn't you see me flexin' the Lambo on my YouTube channel?

Yeah... that's what I got from all that :p
 

RRunner

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Seriously though... This gold for local marketers trying to land real estate agents... :cool:
 

Big Ron

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Great info @Big Ron. Have you worked with any buyers on new builds? If so, is that process easier/less competitive?
My broker set up a luncheon where a builder explained the process. Unfortunately, I was unable to attend so I still have not entered that arena yet.
 

SureShot

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Interesting journey, I will follow along. How exactly does Zillow work? Is it like a sponsored listing with your contact info?
 

Big Ron

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Interesting journey, I will follow along. How exactly does Zillow work? Is it like a sponsored listing with your contact info?
We pay for sponsorship in a specific zip code. Then our contact info is shown next to the houses. Territories are limited and fill up quickly with sponsors.
 

Big Ron

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Hey @Big Ron, how has business been heading towards the end of year? Are you on pace with goals you had in the beginning of this journey?
Hey, thanks for asking! No, definitely not on target. I have had two runs of nothing but rejected offers...both lasting two months each. April & May I had 18 rejections in a row. Of course, this is not your usual housing market but it still stings the pocketbook. I'm also in rural Idaho where most of the clients are only approved for $200k and you don't get many options that low (most are above $250k now).

Then again in Aug & Sept, another two months of rejections. I'd estimate earnings around $70k by the end of the year. I have two more waiting to close. One will pay me $4k and the other $2k. I also split my commissions 50/50 with my broker. That takes a big chunk but he also feeds me 99% of my leads.

I have taken up a part-time job to create a steady income while I grow my real estate "pipeline."
 
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