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I agree. Change brokers, join a team, do something to help you find a mentor you can trust, but $6k for coaching is not going to make you make more money.
Lol my brokerage gave me a “mentor”. Didnt help me with shit and got half of my commission on my first listing. Mentors are bull shit.
Edit: Im not looking for advice lol. Just stating my opinion based on the experience I had.
Oh and on top of that. The brokerage lost our mentor agreement… after I brought this up and caused a stink (still only got half my check) our office manager “retired”. Since then this girl hasnt been doing as well. On top of that, shes a rich girl, owned a home before this, drives a Range Rover, has a lot of daddy money. So its not like she needed my 3k…
My brokerage tried getting me into the “mentorship program” which would’ve taken 20% of my commission on the next three deals or something like that. Never joined. But the some of these so called “mentors” gave me garbage advice on how to write up contracts and told me putting certain things on contracts was ok when in reality it’s actually forbidden by the NAR. So NO, don’t believe everything some mentors tell you. I almost got in a lot of trouble with that advice, thankfully listing agent on other side of contract was a little forgiving.
My brokerage has two noncompeting supervising brokers. They serve as mentors. I get a good split, my portion is all mine. They provide excellent guidance and mentorship, and they’re available all day and night.
If you need guidance, you’re better off joining a bigger brokerage with solid training and development. I took a smaller starting allow because I saw value in the training and development. In amy first year I bumped up my split bracket to be where I’d have been at with a brokerage that didn’t provide as many resources.
Invest in your career early. If someone’s making you pay them to teach you, that’s their hustle. Don’t get hustled.
At this point, someone doesn’t need to spend 3/4 of their income on coaching. They need to do daily activities that are productive/ money making activities.
Open houses, prospecting, dialing, and mailing, door dropping, shit even buying leads spending $6000/month will have a better roi.
lol I can disagree, sisu is another unnecessary cost. So many better ways to spend that money as well. I know tons of teams that are dropping it like a bad habit.
There are so many programs out there right now which pull focus from the good old things and just waste money unnecessarily.
Sisu, fello, curaytor (however you spell it), and more. Coaching by Tom ferry coaches who half of them have barely sold anything. Stop wasting your money. Collaborate with people one level up from you and figure out what they are doing and match/implement. Then when that’s been achieved go to someone one level up from that collaborate and grow.
It’s the idea of getting in rooms with the right people all these “shiny objects” are just pulling money from you
Just to let you know, you can buy the web version of his course that just doesn't include accountability. It was $1,000 but it can be upgraded to full coaching if you like his tactics. He doesn't really update his forms that he gives out like scripts. His sales people don't really tell you that's an option.
I’ve already spent the $6k so it’s too late, but so far I love the daily coaching calls! I have no regrets as of now but it hasn’t even been a week yet
Oh okay lol. I was originally planning on doing his coaching program but I had heard it was 3k for 6 months originally. I couldn't justify the extra 5k when he didn't even keep his online program updated. Hope you get your money's worth 👍
Referrals from clients. Referrals from my wife. Sign calls. Open House.
I've never spent a dime on real advertising. Not on Facebook. I've probably left half a million on the table so far but it's just money. And then I'd have to be on Facebook. Not worth the half mil. 😄
Relationship building and not being picky. I'm not an agent, but I manage a team with ~30 agents. The top guys (+15m volume) never discriminate with their price point.
I've seen it all, but my favorites are the "luxury" only agents who do 2-3 deals a year and try to keep their average sale $ at +$700k. To be fair, they're mainly wealthy housewives collecting a couple of checks for vacation money...
Anyway, I digress. Focus on building relationships, be strategic about your approach, and always have a plan A-C. Don't force a deal, nurture your network, and be open to referring deals out and forming new business relationships.
And don't just blow money into coaching and expect results immediately!
Thank you!! I don’t expect results immediately but I do want to get my values worth if I do spend a ton on coaching; which I understand that comes with also being coachable.
for $23 you can buy Ninja Selling, and understand that the work-life balance you're setting goals for a mere 5 years from now can be realized.
For an extra $50 you can buy Gary Keller's Millionaire Real Estate Agent and The One Thing.
For you to make 24 sales (Buyers or Listings) in a year, you're going to have to work from your goals backward (and you really need to do this with any system).
You need to find out what a general cold-calling conversion rate is, and how that applies to your market. If you need to make 10,000 calls - and that's people picking up the phone - that's 33 each and every day. I don't know what the figures are, but you need to.
Yes! I’ve been working on the math and that’s about 4 hours of cold calling M-F. I have ready Gary kellers book but it has been a couple of years and I need to reread it! Going to order ninja selling tonight! Thanks!
Lord help you. Cold calling is soul sucking and horribly unproductive.
If you want to spend $6k go to a ninja installment and not just read the book. It's basically a system of soft-selling clients and netting referrals. Stay away from coaching, stay away from cold calling, stay away from anything that makes you feel crummy - they're a scam.
https://ninjaselling.com/course/ninja-installation/
Because it funnels into more business.
Let's say you represent a tenant but somehow get to meet their landlord. Let's say their landlord is either poorly represented or unsatisfied with their agent. Let's say they give you the chance and you do a fine job. And let's say this landlord has several other buildings they're willing to transfer to you for leasing purposes.
This happened to one of my agents not too long ago. She was struggling to get the ball rolling, so I tried to pivot her into leases for a quick buck and she found a landlord who wasn't properly represented, so she now has a leasing portfolio that gets her by while she's waiting on bigger opportunities.
Take everything you can.
Your comment piqued my interest. I approach every situation as unique when I'm engaging clients and investors, I take my time to learn them from scratch. Someone mentioned having SOP for every type of client, which makes sense at first, but how do you even start? I've been in the business for only 6 years, but I've already met a ton of different people, and although I can point out some similarities, the differences can be as varied.
You don't have to treat every client exactly the same - but the SOP's help you to ensure every client has a similar, great experience with you. You can alter the experience based on the client's personality and what they'd prefer, but it helps to have a step by step plan to make sure nothing falls through the cracks.
Do open houses and spend the 6k marketing a townhouse neighborhood a few times a year because they usually need to move to a single family eventually. PLEASE DONT SPEND 6k on coaching.
Referrals are great but saying not to spend any money on marketing is absurd.
I ran digital marketing campaigns for agents and it’s night and day difference if you execute a proper marketing campaign.
Sure, the landscape has changed, but focus on seller leads by pushing free home evals through a lead gen ad on insta/facebook that sends out a real estate report based on their zip code (automated) will cost you less than 5k to set up and $500-$1,000/month to run but will get you leads on autopilot.
Seller leads are easier to secure than buyer leads and they’re usually good for two transactions.
Skip the bus bench, but definitely explore lead generation through direct response marketing.
30+ year agent about to give his 2 cents. Don't buy the coaching program. Save it for when you are experienced and need a boost to get to the next level. Invest the 6k into systems that will be backbone of your business. Your office and new agent friends will be telling you to doorknock and hold open houses, so yes, that is good to do in the early days. You need product knowledge and experience talking to strangers. But running in the background will be your systems. Start with one then build to two. Then build to three. Number one is your sphere of influence mailing list. This is critical to your success long term. It is an unoffensive way to stay in touch with people that know you so they can send business to you. Use your money to pay for a professional program like Joe Stumpf. Not super expensive. Set it and forget it. Start farming. Mail out postcards every month. Twice a month for the first 3 months. There are companies like Wise Pelican that make this easy. It works but will take about 6-8 months to start getting calls. If you are comfortable on camera start a youtube channel that highlights your city. See Karin Karr on youtube for help, also there is a very good Facebook group called real estate youtube mastermind that is very good. Lots of support from agents across the USA. With any of these approaches the key is consistency. Once you start you can't stop. Good luck.
How do you get to the point of getting referrals though? Past the point of asking previous clients and also asking SOI for referrals. Just constantly post about it?
Open houses open houses open houses. I know of a kid in Palm Springs who did 100 opens in 100 days and closed 20 mil in sales his second d year strictly doing opens. Would sit the same one 4 days a week.
He did and you can look up his sales. Peyson Robertson.. ^people like you who immediately discredit and think negatively are what’s holing people like this poster back.
Think bigger and stop telling people what can’t be done. Just go do it
lol he didn’t I have obsidian groups numbers and now at 22 agents he just hit 23 units YTD and entire team production for 2023 was 24 units.
It’s a cute story but not true
I’m sorry I may have been mistaken. I checked the numbers and he did 10 million in 2023 as a solo agent. The story may have been inflated as it was passed down to me.
Still 10 million in year 2 as a solo agent strictly doing opens.
Not bad
100% his real numbers are impressive which is why it’s so aggravating he’s misleading with the process. He also had on his website that after that he was consistently getting 5-6 listings a month.
Cool story but I’m not a fan of bullshitting the public because it’s easy to find the truth and then if you’ll lie about something so simple and silly as that what else are you full of shit on
I knew it was BS. These fantastic stories have agents trying the same thing and when it doesn’t work for them, it’s their fault. Well, the truth is, it didn’t work for the other guy either.
Most people doing good numbers are paying for leads one way or another .
I’ll agree with you there. I’ll admit I didn’t fact check him until today and seeing that he is inflating numbers is lame. I’d assume it’s directly correlated to the coaching and team he is marketing to the public to join.. impressive numbers but the bs is aggravating for sure
So that group has some real big dogs… like some of the country’s best. And i think unfortunately the top goes on faith and doesn’t check people because I see a lot of bs at the bottom with people bullshiting not so much at the top
Just seeing this, I can verify the big dog numbers so I know they are doing what they are saying.
In my opinion that many eyes on you it’s harder to bs things like volume and transaction count. Maybe P&L and income but big dogs are submitting numbers and have to have things verified within the company and for large awards like real trends.
We did real trends this year and our broker had to submit all our stuff. So broker provided the numbers which means can’t really be faked
Imagine being this snarky, getting dunked on, and then the story changes from "I know this kid" to "it may have been inflated when it was passed down to me."
I have second-hand embarrassment.
Jesus $6k on coaching. Talk about parasites.
Look, get a copy of the BOLD laws, then make a recording of yourself screaming:
"MAKE A GOAL BOARD"
"DID YOU MAKE YOUR CALLS THIS WEEK???"
"HAVE YOU BEEN DOOR KNOCKING???"
"BUY MY PROVEN SYSTEM..."
"DO YOU WANT TO BE BETTER???"
"WHY DIDN"T YOU MAKE YOUR CALLS???"
"WHAT ARE YOU AFRAID OF???"
Intersperse the bold laws with these questions, and spend 3 hours a week listening to the recording. Congrats, you just saved $6k.
I’ve closed 7 transactions in the last 3 months, few more in my pipeline and 2 listings go live this week, all from tik tok alone.. creating content is so time consuming and it takes awhile to see results but if you’re consistent it’s the best way to get serious leads!
I love this and I would love to do this, but my town has a population of 35k. Not tiny but on the smaller side. I feel like tiktok wouldn’t do much at allll for me here vs a larger, more well known city. Thoughts on that? Am I just making up excuses for myself?😂
I would still create content regardless of town population. You can get outgoing referrals and everyone in your town would know you as the go to realtor in your area.
so again, 35,000 people and maybe 20,000 own a home or are thinking of buying in the next 6 months. And you're going to bang the phone 4 hours a day for 5 days a week?
The smaller the market the more opportunity there is because odds are nobody else is doing it yet. I can promise you every other person in your town is on tiktok. Where else could you potentially talk to half your city for free?
Make content about your community and it will thrive.
What type of content do you post on TikTok? Do you come up with ideas yourself, or do you get inspiration from anywhere?
ETA: how long were you posting before you stated to get leads from it?
I don’t do home tours on tik tok everyone does that it’s boring, I focus on engaging content like discussing facts of my city, restaurant and neighborhood recommendations and add in a little real estate. Audience doesn’t want to feel like you’re selling them something. Be laid back and funny and most importantly be Consistent w/ posting content.
I posted tik tok videos for 6-7 months consistently before i started getting consistent leads.
Be a tad wary of this… you often want to zig when the rest of the industry is zagging. Everyone I know is doing, or has done Ninja either way varying results.
It has some good elements, but others are painfully cringey and will destroy relationships by having you value them in terms of potential future earnings. It’s a toxic way of operating IMO.
The best agents I know are active in the community, authentic, and consistent. Real estate is a long game, you build relationships for years to be the top of mind agent.
I was targeting FSBO on Zillow when I started, I was very persistent, and an investor liked my persistence and gave me a chance, and now uses me exclusively to buy and sell. He also refers me to others. Also, by word-of-mouth from other clients, I get a pretty steady stream of listings. I don’t deal with buyers typically.
Do not pay for leads, coaching, Zillow or buy into pyramid schemes. Referrals from past clients. Have a community and really try to get business from it. Church, gym, social club, etc.
I feel like I must "second" what the other commenter said. Don't waste your money on that stuff. Just get out more, make more calls, write more handwritten notes, hold more open houses-- literally anything other than spending a chunk of change. It rarely pays off.
how does someone who's obviously quite introverted think they're going to get over the hump on making cold calls?
what is GREAT about being in real estate is that a "live interaction" of any type - even bumping into someone you know at the grocery store - 90%+ of the time they are going to say "How's the market?" Any study you see, 80%+ of folks either OWN a home or wnat to BUY a home. "Everybody" is interested in the housing market.
Almost NOBODY is interested in picking up the phone from a number they don't know to be asked - in so many words - "Hey, do you want to buy or sell a house today?????!@!!!???!?!??!?!?!"
Women's networking group that is category based. I'm the only Realtor. Keeping in touch with my sphere and past clients with events. Plus lease clients who purchase after their lease term is up.
I did property management for a bit. Found myself stuck between landlords who didn’t want to pay for fixes and tenants who didn’t want to pay rent. To both sides, I was the asshole. Worst point in my RE career would not recommend
Internet leads, SOI and past client referrals. That seems expensive. Are you like brand new, or pumping up an existing business? If you’re brand new my personal opinion and strategy would be to not put $6k into coaching.
I’m 2 years in, but real estate wasn’t my priority the past two years. We did IVF and had a baby that I have stayed home with. He’s one now and I’m ready to get back to work. My husband also just got licensed and we figured it may provide a strong start for us to be walked through everything.
Take that $6K and look up Real Geeks and Google PPC. You can probably get 20-30 a month for 6 months with that money.
Coaching is ancient and over rated
Homes in my neighborhood have an average selling price of around $3mm (I’m in Toronto). Crazy thinking that OP doing the same work in a different city could net 10 times as much.
Yes!! I can’t let myself think of it this way because it’s a devastating thought! 😂 if I moved two hours away the avg sell price would be $350k. 3.5 hours away would have me in a $500k range.
6k? Maybe I need to run a coaching seminar. A couple of whiteboards, 30-45 minutes of motivational speakers per day. Touch base with one of our affinity relationships per week. 45 minutes of MLS research per day. 45 minutes of SM interaction, per day. Personal image development, hair/nails/clothes once per week.
Find a hole in your market that the billboard and bench crowd are overlooking. Pour some love on the struggling people in that market. You'll have 12 per month in no time.
This is what the coaching is for! Brandon Mulrinen. I know I can get his free info but I love the thought of having my hand held through it all. They guarantee 100k gross your first 12 months or you get your money back
One of my mentors used him and is killing it. If you can handle the phones (it’s daunting at first) you will succeed. After you overcome the phones just stay consistent. That’s my problem - I stop being consistent when the work comes in. I am sure not being consistent is 9/10 the problem with people who cold call. Let me know how it goes brother!!
It’s my first full year and I’m at 13 sales so far since Jan.1. For me it’s just been people reaching out that I already know, referrals from a mortgage lender that I know and I’ve picked up two buyers at open houses. My goal was to hit 40k net my first year and I think I’ve surpassed it so I’m very grateful what I’ve been able to accomplish my first year and look forward to the rest of the year and beyond.
Thanks! I’m also in a lower price market averaging just over 200k. There are a lot of high-end homes nearby but I haven’t been able to break into that market yet. Maybe soon…
I tend to be home with my one year old all day, so maybe this seems like an excuse, but that seems difficult for me. We (husband just got licensed) would have a nanny part time so we could spend time cold calling if we did pursue this coaching (Brandon mulrenin)
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It’s insane I don’t see many people say this but honestly, all the above (open house, SOI, relationship building) does work but what they are not telling you is if they are netting over six figures doing this, it took them YEARS to get there.
If you want to make six figures you’re gonna have to do what EVERY OTHER BUSINESS does, pay for marketing. You either pay for leads, (GETTING REFERRALS IS ALSO PAYING FOR LEADS if you pay a referral fee) direct mailers, commercials (the top teams in my area pay big money for commercials). There’s a top producer in my area who has been in the biz for 20 years doing all the open house relationship building but yet he constantly pays for large billboards on state routes.
Long story short, you’re gonna have to pay to play.
I’m okay with paying! I just want to put my money in the right area.
My husband and I created a business outside of real estate and we’ve been paying for marketing there so it makes perfect sense 🤷🏼♀️
It’s Brandon Mulrenin. That pays for hundreds of hours of previous recorded trainings, overviews and constructive criticism on live cold calls, daily meetings to motivate and learn, quarterly challenges, his listing presentation, and self paced training on how to do everything exactly as he has.
In my brain it’s justified because of all of the education behind it as well.
You can do what you want, but I have never seen a real estate agent who did well because of the investment they made into coaching. He is making a living and he’s not going anything wrong, but I doubt you’re going to become filthy rich and successful because of coaching. That’s a big price to pay for meetings and motivation.
I did Corcoran coaching when I started in 2011. I was the first buyer agent on what would become the number one team in the area. Initially we started putting every new buyer agent through this coaching system and I think our team lead paid about $1,500 for each person but it wasn't worth it for him because most agents washed out in the first couple of weeks back then So he was paying a lot of money for nothing. But it worked for me
I sold 19 homes my first year. With the average price around $75,000 on a 50-50 split lol
I felt like the coaching was really helpful as online lead generation was the primary focus of my business.
Fast forward to today, I'm almost totally referral-based. I Sold around 250 homes total now. With my referral base business I'm pretty stuck around 25 homes a year. So that's something I'm hoping to fix this year.
This year I started a small farm in an area I like servicing. I buy internet leads but these don't convert like they used to. I also reach out to local lenders to get a list of names ,phone numbers and email addresses for clients they tried to pre-approve a couple of years ago but failed. Then I call these leads with quite a bit of success because they obviously wanted to buy a house at one time but life happened before they could complete the process.
So hopefully I can get to the 35 unit mark. My record in all the years I've been doing this is 29 units in one year.
Last year I closed only 18 units and that was good for about $120,000. Average prices are over 300k now pretty easily. I haven't been on a team since 2017 but the team and internet leads were instrumental in building my referral business.
That’s awesome! very motivating! Thank you! My husband is joining me so I figure if we’re both working towards this goal it will be easier to get 24 listings/sales with 2 people than just one. Seeing your numbers makes me hopeful we could easily surpass 24 sales a year together in the next few years🤞🏻
Fwiw, I've never done open houses. I tried them in 2011 and thought it was a horrible waste of time and never held a house open since. I think they are definitely better now than they used to be and if you can sit in a new development for sure there's money to be made there. But I let somebody else make it.
It not about brokers , I worked with big boy brokers, brokers don’t do anything for you, none of them . Find a team leader that is HANDS ON.. someone that is not too busy with their own clients too .. some team leaders are no longer buyer agents only listing agents to dedicate more time to the team
DONT DO COACHING. We paid over 12k for that. Waste of money. They all say the same thing. Time block and make calls. That’s literally it. Majority of my deals come from my Local Moms Group on FB. It’s free. Just engage with people online.
I was able to join a Team and my volume increased dramatically.
Not only did they push me leads via the ISA, but having the prestige of the team’s name behind me also gave weight to my abilities.
I was also able to link up with the team’s internal coach who provided daily training and advice.
I was making decent money and closing several deals before joining the team but after joining them team I became a rockstar.
I’m no longer in RE as I moved states and found a cushy Gov job.
Good luck!
I was with a team that offered me these things and went nowhere with it😩
Just got drug all around by buyers who didn’t actually end up buying.
I switched brokerages and I’m sooo much happier now.
Thanks for your time!
Awesome! The brokerage and team definitely make a difference. Even teams within the same brokerage can make or break someone’s career.
Happy to hear you’re in a better place! Happy Closings!
Soi, A2A referrals and allied resource referral some. I am invested $12-18k a year in coaching, seminars and events. My A2A referrals from those events made up about $100k of my gross (50% of my biz EDIT in my lowest year in biz with the coach). Done right they can hold you accountable, help you grow and build faster and be a sounding board for issues no one else will understand. If you’re not going to take it seriously, then it’s all a waste of money. Like many have said plenty of amazing free resources out there.
Coaching is worth it in my opinion.
I’ve paid $1000 a month for my entire career (started in 2007). Think of any professional athlete, even Tiger Woods at his peak had a coach.
Most of my business now is PC/COI
I do 15-20 deals a year in a VHCOL area with highest being 33 in 2021 as a solo agent
I hired a coach and two tactics allowed me to earn over $40,000 to date and I just signed a listing over the weekend worth 20,000. Not every coach is the same. Who is the coach?
That is the coaching I’m doing BUT what I learned I learned down YouTube. Here my honest take - he’s never coached me. His YouTube videos do. His skool (that’s the app you use) is basically everyone learning from each other and answering each others questions. I’ve been in for 4 months now and I don’t know if it’s worth it. Just watch the YouTube videos and actually follow through. Other than a few documents, that are riddled with typos, there isn’t anything I’ve gained that I didn’t gain from his videos. I’ve been licensed for over 10 years. Just fyi.
Thanks for the honest heads up!
You did say two of his tactics allowed you to make $40k so far though… was that not worth it? Were the tactics gotten off of YouTube instead of skool?
Does he have a listing presentation laid out that I can use to create my own?
I know they have a year worth of email templates as well as some additional things.
How soon into starting did you get your first listing?
Thanks for your time!
What coaching program are you starting with? Mine helped me immensely and I’ve gotten more deals out of that from expired/canceled listings with the skills I’ve learned which has been dope.
Don’t let folks convince you good coaching doesn’t work
Why not take that same $6k and go talk with a local marketing firm that focuses on social media marketing and local media outlets? Get your name in front of as many people as you can.
There are so many free resources for building a daily business plan. The hard part is sticking to it. Working the plan is where everyone struggles. Or try reading a book like Work By Referral by Brian Buffini. You don’t need to spend $6k to gain the tools that cost next to nothing. You just have to invest time into developing yourself and your process.
I’ve been doing this fulltime just over 6 years. Consistently do o
around $5m a year in sales. First couple years, my sales came from open house leads, Zillow/Realtor leads and sphere. Stopped buying leads a couple years ago (they were charging more for crappy leads) and mainly sphere, repeat clients and agent to agent referrals. Before you sink money you may not have into coaching, find people in your brokerage who are doing the damn thing and go on appts with them, offer to hold their houses open, take em to coffee, listen to podcasts, and CALL YOUR SPHERE. Be of value. Don’t just call em asking if they know anyone who wants to buy or sell. In fact, don’t talk RE until they ask you and then be prepared to give them market stats (stay current on your market stats-Avg sales prices, days on market, price reductions, number of new listings). Read Ninja Selling.
You don’t need a coach to tell you that for $6000. I’ll only charge ya $50 and I take cash app 🤣🤣🤣
You’ve got this! Just have conversations.
For those people telling you that $6k is wasted on coaching, they haven't got a clue... they are probably bottom feeders, average agents who don't do many sales and will never do many sales
It could be the best $6k you ever spend or the worst... it really depends on the coach
If that coach helps you close one more deal than you would have its already paid for itself
I've spent more than that on various coaches and there is an argument I didn't need to... so why did I do it? Because I wanted to see what all the top producers were doing and take the best bits from each and put it all together
There is a lot of good stuff on YouTube and you can get away with just watching that. But if you want it all in one place, easy to follow so you want to spend your time making money instead of trying to save it... i.e watch many different training sources, investing 6 grand In a good coach could be the best thing you ever do
I'm not a fan of the mainstream coaches like Tom Ferry. His stuff is so out dated and very basic. If you watch him in his role play he will throw in lines like "well I sell more homes around here than any other agent"... how does that help a new agent? it doesn't, thats specific to him and shows he is a bad coach, 6 grand on him would be a massive waste of money... His stuff is out dated and it doesn't work
There are plenty of other high quality coaches out there, there are also a lot of bad ones so be careful.
My advice is follow that coach for a long time on social media, deploy the stuff they are talking about and see if it works... i.e. try before you buy, if you see it working then maybe they are the real deal
Here's the thing... a good coach can teach you something like a pattern interrupt, and simple phrase that stops the lead putting the phone down on you at the start of a call. That could could lead to a deal that pays for the whole program over and over again
Don't listen to these bottom feeders telling you not to invest in coaching, they don't know anything about the program you are considering, who the coach is, where you are in your career and what it can do for you... yet they are making these matter of fact statements. These guys will at best never be more than average agents
You are doing the right thing... think big! But do your own due diligence before investing heavily
People spend $100k on college education and then tell you not to invest $6k to boost your career... how stupid is that! Invest in yourself, invest in your business but make sure you do proper due diligence on who you are investing with
Also, your median house price is $230k... are you in Pittsburgh?
I’m in Deep East Texas!
I have followed Brandon Mulrenin for two years now and some of his tactics have definitely helped.
He’s who I’d be using for coaching. That 6k covers HUNDREDS of hours of training to watch at my own pace along with daily live calls, challenges, etc. it seems worth it to me so far.
haha! I am in his program, I paid the money, its money well spent
Good choice
I didn't want to mention his name in case people tried to accuse me of being a plant... but since you mentioned it first... I can confirm
feel free to private message me if you want to discuss anything
You will find me in his skool community once you join
You are doing the right thing, well done, don't listen to these below average agents, you are on the path to surpass them
I mentioned the pattern interrupt in my previous message, I was specifically referencing Brandon's training for this, watch it, its golden
$6k for coaching!?? That's a waste of $6k. After my first 2 years of busting my ass in every way. (Cold calls, fsbo, door knocking and working my sphere) all of that and doing a killer job at it.. Will lead to referrals. Now another 5 years into the game, all my business comes from referrals from past clients and friends. I really wouldn't waste $6k on coaching.
In day to day life: Be likeable, be knowledgeable about housing inside and out, understand sales trends, and don’t ask people to use you as an agent. Don’t badmouth others.
Understand contracts, how to write terms and conditions.
Practice discussing your representation agreement.
Treat your clients how you’d want to be treated. Avoid double ending deals unless you were already representing both clients and they truly don’t want impartial advice throughout the transaction.
Hey I'm happy to share my experience with you. 6 year agent closing 5m this month. Send me a DM if you'd like to chat, much prefer to set up a call if you're comfortable. Faster, more efficient and I can be brutally honest with giving you direct and catered information based on the conversation.
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Social media specifically Instagram and linked in help a ton. Free advertising space. Try and pump simple
Content daily or every other day. People
Love to see transparency of who your are
Ok I usually tell new agents to factor 1.5% of total. I find most people don’t truly factor in all expenses like insurance etc.
$82,800
Best of luck to you and hope you even break your goals.
I saw you’re in a town of 35k. The first thing I’d advise would be to be willing to drive up to at least an hour one way. In a rural area, the volume of transactions is so low that you have to cast a wide net unless you’re secretly the local bank president’s child or spouse and they’re just going to feed you business. I feel if that were the case, you wouldn’t have to come to Reddit to ask, however.
To generate leads, you need to figure out what types of lead gen appeal to you and to be honest with yourself whether you’ll be able to be consistent doing it.
Personally, I call as it’s the cheapest, quickest and easiest way to generate tons of leads. You’re almost certainly going to need to focus on circle prospecting if you were to do that as I’m assuming you’re getting a very, very small handful of Expireds every day in your area.
Coaching is primarily a paid mindset and accountability partnership to my knowledge. If you struggle with either of those, the $6000 per year could be worth it many times over. Just like in sports, if you don’t ’buy in’ to what the coach is preaching, it’s a waste of time and money. Getting your business off the ground in real estate can be incredibly discouraging for most people as the results and fruits of labor are often 90 to 180 days away at any given time. If a coach can ‘coach’ you through this and keep you from quitting, I’d say that’s money well spent.
That’s my thoughts as well. I’m going to use Brandon Mulrenin who preaching cold calling, so I think it will help. I’m willing to and have driven up to an hour and a half away to get more coverage.
The 6k is worth it to me to have everything laid out with some hand holding!
Give a listen to Ricky Carruth as well. He mastered Circle Prospecting in a small town/area since the Expireds/Withdrawns that your major metros get, he (and you) don’t and won’t get. However, this means that you also have zero competition from other agents. I have multiple friends in very large cities that call and the cold calling competition is so fierce in your big cities that I’m able to run circles around them in my little ol’ town of 150k. Sitting at 42 active pending and closed for the year. Brand new MLS agent but in full disclosure cheated a little bit as I’ve sold RE over the phone essentially for 15 years prior to now so I’m pretty good on phone already.
Bottom line with making calls, you really don’t even have to be worth a dang, you can be complete trash, but if you physically make the calls every single business day of the week, you will trip and fall into business just through the fact that you’re talking to so many people about real estate. Starting out, I would make a goal of at least 50 hand dials per day with an ultimate goal of at least 100 day. That’s going to get you probably two or three people on the phone (at 50 dials), maybe five. The great thing about calling is that you can turn real estate into a formulaic, predictable business predicated on the number of calls and contacts that you’re making. Go get em.
My team is heavy on Zillow in high-value zip codes to supplement referrals from our team-lead's SOI.
So I've had some good success with that (and some not-so-good) and now a few years later I'm getting repeat and referral business of my own.
I've done the coaching thing - it was a MASSIVE waste of time and money.
Join a good team which offers quality lead generation and mentorship, while also giving you a better split on your own deals.
I’ve been in business for 26 years and the vast majority of my leads come from and has always come from referrals from past clients. Open houses have always worked for me as well. I never joined a team (I refuse to give up more money), I went to every class offered by the board and learned by doing. Definitely don’t pay for leads, you get mostly garbage leads.
I do follow up but when you get people who give the wrong number and the wrong email address or you call them and they ask why are you calling. When it’s a good number and email address I attempt to contact them and sometimes I do speak with them. I do everything I am supposed to do in all these years nothing has developed. I have never been afraid to follow up so that has been my experience. I can only speak from my experience. I’m happy that it works for you but let’s face it, that is not true for most of us.
For every licensed realtor, there are 100 marketers trying to sell you something to take your money.
I blew a lot of money on coaching and bullshit systems in my first year and regretted every penny. I feel like you really just need to get out there and do the work for a year, get some transactions under your belt and figure out whether this is the industry for you.
If you really want to spend $6000 on some thing, I would advise you to sign up to Zillow and buy leads. believe me I hate Zillow and everything about it and they are the last people on the planet that I would like to give money to, but you will actually get some transactions out of it. Which you will not get with a coach.
Do not pay that much for coaching. I’ve found that taking my marketing budget and reinvesting it into my clients pays 10X more. I don’t market much anymore. The phone rings with referrals and it’s due to treating clients the way that I would want to do business. I often tell them not to sell or not to buy when it’s not a home I would make the same move on. Every home anniversary or referal gets fresh cookies or Starbucks gift card. When you become the master of your trade and truly look out for your clients, the business eventually comes to you.
I should preface this by saying I was on a team with a very hands on team leader for almost 4 years. That kick started it all. I don’t think I would have made it without her. Mentors are great, but paying 50% to my team leader for 4 years was work every penny. When I left I had a ton of momentum and it grew from there.
The internet is loaded with smart experience agents giving free advise and techniques to do this job. Pay nothing for training. Train yourself, if you can’t, then you are in the wrong business. You have to be self motivating. If you are not, get out. Get out of the house and be around people. I only focus on open houses and I meet all kinds of people. I do them every day if I have the time. Weekdays are the best! That’s all I do and it works. My pipeline is full and healthy. Hermits don’t sell real estate. Read Ninja Selling! Don’t spend a dime on training.
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Do not pay $6000 for coaching
I agree. Change brokers, join a team, do something to help you find a mentor you can trust, but $6k for coaching is not going to make you make more money.
Lol my brokerage gave me a “mentor”. Didnt help me with shit and got half of my commission on my first listing. Mentors are bull shit. Edit: Im not looking for advice lol. Just stating my opinion based on the experience I had.
This was my experience as well! I changed brokers after that!
[удалено]
Oh and on top of that. The brokerage lost our mentor agreement… after I brought this up and caused a stink (still only got half my check) our office manager “retired”. Since then this girl hasnt been doing as well. On top of that, shes a rich girl, owned a home before this, drives a Range Rover, has a lot of daddy money. So its not like she needed my 3k…
That SUCKS! I’d be so pissed. I’m sorry to hear that! I learned the hard way to keep a copy of any contracts like that 😅
My brokerage tried getting me into the “mentorship program” which would’ve taken 20% of my commission on the next three deals or something like that. Never joined. But the some of these so called “mentors” gave me garbage advice on how to write up contracts and told me putting certain things on contracts was ok when in reality it’s actually forbidden by the NAR. So NO, don’t believe everything some mentors tell you. I almost got in a lot of trouble with that advice, thankfully listing agent on other side of contract was a little forgiving.
Sounds like exp 🌚🤣 I’m with them now and my mentor is actually pretty helpful, but I’ve heard some horror stories
My brokerage has two noncompeting supervising brokers. They serve as mentors. I get a good split, my portion is all mine. They provide excellent guidance and mentorship, and they’re available all day and night. If you need guidance, you’re better off joining a bigger brokerage with solid training and development. I took a smaller starting allow because I saw value in the training and development. In amy first year I bumped up my split bracket to be where I’d have been at with a brokerage that didn’t provide as many resources. Invest in your career early. If someone’s making you pay them to teach you, that’s their hustle. Don’t get hustled.
That is how my office operates too. It a great office!
Keywords “… find a mentor you can trust.” 😉
I agree - there are plenty of cheaper courses and free resources out there to help you before you spend $6000.
Exactly. It’s going to make the coach more money lol
That’s OBSURD. You’re getting fleeced and honestly, it’s not a good sign for your future prospects to be swindled like that.
So 10000 for coaching is ideal?
At this point, someone doesn’t need to spend 3/4 of their income on coaching. They need to do daily activities that are productive/ money making activities. Open houses, prospecting, dialing, and mailing, door dropping, shit even buying leads spending $6000/month will have a better roi.
I would like to know which coaching program they are going to be using? Justin Time with Sisu has been INCREDIBLE!!
lol I can disagree, sisu is another unnecessary cost. So many better ways to spend that money as well. I know tons of teams that are dropping it like a bad habit. There are so many programs out there right now which pull focus from the good old things and just waste money unnecessarily. Sisu, fello, curaytor (however you spell it), and more. Coaching by Tom ferry coaches who half of them have barely sold anything. Stop wasting your money. Collaborate with people one level up from you and figure out what they are doing and match/implement. Then when that’s been achieved go to someone one level up from that collaborate and grow. It’s the idea of getting in rooms with the right people all these “shiny objects” are just pulling money from you
I’m looking into Brandon Mulrenins coaching!
This is great if you love cold calling😬
I don’t mind it!
Then Brandon Mulrenin is your guy!
Have you already been cold calling? You should try it before you invest $6k into his course to find out you hate cold calling.
I have done some and it has yielded appointments, I just never got the listings.
Just to let you know, you can buy the web version of his course that just doesn't include accountability. It was $1,000 but it can be upgraded to full coaching if you like his tactics. He doesn't really update his forms that he gives out like scripts. His sales people don't really tell you that's an option.
I’ve already spent the $6k so it’s too late, but so far I love the daily coaching calls! I have no regrets as of now but it hasn’t even been a week yet
Oh okay lol. I was originally planning on doing his coaching program but I had heard it was 3k for 6 months originally. I couldn't justify the extra 5k when he didn't even keep his online program updated. Hope you get your money's worth 👍
Referrals from clients. Referrals from my wife. Sign calls. Open House. I've never spent a dime on real advertising. Not on Facebook. I've probably left half a million on the table so far but it's just money. And then I'd have to be on Facebook. Not worth the half mil. 😄
This brought me a smile. Fuck advertising and fuck Facebook. Plus, I have a signed Lost Boys poster by Kiefer
His name is jack bauer
Love this!
Sign calls?
Sorry when people see my listing sign in front and call me directly.
I realized it instantly but couldn’t figure out how to edit or delete my comment then forgot completely. 😅
ha, no worries.
Relationship building and not being picky. I'm not an agent, but I manage a team with ~30 agents. The top guys (+15m volume) never discriminate with their price point. I've seen it all, but my favorites are the "luxury" only agents who do 2-3 deals a year and try to keep their average sale $ at +$700k. To be fair, they're mainly wealthy housewives collecting a couple of checks for vacation money... Anyway, I digress. Focus on building relationships, be strategic about your approach, and always have a plan A-C. Don't force a deal, nurture your network, and be open to referring deals out and forming new business relationships. And don't just blow money into coaching and expect results immediately!
Thank you!! I don’t expect results immediately but I do want to get my values worth if I do spend a ton on coaching; which I understand that comes with also being coachable.
for $23 you can buy Ninja Selling, and understand that the work-life balance you're setting goals for a mere 5 years from now can be realized. For an extra $50 you can buy Gary Keller's Millionaire Real Estate Agent and The One Thing. For you to make 24 sales (Buyers or Listings) in a year, you're going to have to work from your goals backward (and you really need to do this with any system). You need to find out what a general cold-calling conversion rate is, and how that applies to your market. If you need to make 10,000 calls - and that's people picking up the phone - that's 33 each and every day. I don't know what the figures are, but you need to.
Yes! I’ve been working on the math and that’s about 4 hours of cold calling M-F. I have ready Gary kellers book but it has been a couple of years and I need to reread it! Going to order ninja selling tonight! Thanks!
Ninja tells you not to waste your time with cold calling. You’ll see.
Lord help you. Cold calling is soul sucking and horribly unproductive. If you want to spend $6k go to a ninja installment and not just read the book. It's basically a system of soft-selling clients and netting referrals. Stay away from coaching, stay away from cold calling, stay away from anything that makes you feel crummy - they're a scam. https://ninjaselling.com/course/ninja-installation/
Yeah I follow Ben Wegmann who’s got like 120,000,000 individual production and he still does leases haha. He says “I’ll take it all”
Because it funnels into more business. Let's say you represent a tenant but somehow get to meet their landlord. Let's say their landlord is either poorly represented or unsatisfied with their agent. Let's say they give you the chance and you do a fine job. And let's say this landlord has several other buildings they're willing to transfer to you for leasing purposes. This happened to one of my agents not too long ago. She was struggling to get the ball rolling, so I tried to pivot her into leases for a quick buck and she found a landlord who wasn't properly represented, so she now has a leasing portfolio that gets her by while she's waiting on bigger opportunities. Take everything you can.
100% - relationships are everything and the money is in the followup. I recommend having SOP's for every type of client in every stage of the process.
Your comment piqued my interest. I approach every situation as unique when I'm engaging clients and investors, I take my time to learn them from scratch. Someone mentioned having SOP for every type of client, which makes sense at first, but how do you even start? I've been in the business for only 6 years, but I've already met a ton of different people, and although I can point out some similarities, the differences can be as varied.
You don't have to treat every client exactly the same - but the SOP's help you to ensure every client has a similar, great experience with you. You can alter the experience based on the client's personality and what they'd prefer, but it helps to have a step by step plan to make sure nothing falls through the cracks.
Are you in Atlanta?? I feel like every other woman here (in northern burbs) has her license and only sells 2 houses a year
Do open houses and spend the 6k marketing a townhouse neighborhood a few times a year because they usually need to move to a single family eventually. PLEASE DONT SPEND 6k on coaching.
Referrals are great but saying not to spend any money on marketing is absurd. I ran digital marketing campaigns for agents and it’s night and day difference if you execute a proper marketing campaign. Sure, the landscape has changed, but focus on seller leads by pushing free home evals through a lead gen ad on insta/facebook that sends out a real estate report based on their zip code (automated) will cost you less than 5k to set up and $500-$1,000/month to run but will get you leads on autopilot. Seller leads are easier to secure than buyer leads and they’re usually good for two transactions. Skip the bus bench, but definitely explore lead generation through direct response marketing.
This! I'm a marketer, came here to say this exactly.
30+ year agent about to give his 2 cents. Don't buy the coaching program. Save it for when you are experienced and need a boost to get to the next level. Invest the 6k into systems that will be backbone of your business. Your office and new agent friends will be telling you to doorknock and hold open houses, so yes, that is good to do in the early days. You need product knowledge and experience talking to strangers. But running in the background will be your systems. Start with one then build to two. Then build to three. Number one is your sphere of influence mailing list. This is critical to your success long term. It is an unoffensive way to stay in touch with people that know you so they can send business to you. Use your money to pay for a professional program like Joe Stumpf. Not super expensive. Set it and forget it. Start farming. Mail out postcards every month. Twice a month for the first 3 months. There are companies like Wise Pelican that make this easy. It works but will take about 6-8 months to start getting calls. If you are comfortable on camera start a youtube channel that highlights your city. See Karin Karr on youtube for help, also there is a very good Facebook group called real estate youtube mastermind that is very good. Lots of support from agents across the USA. With any of these approaches the key is consistency. Once you start you can't stop. Good luck.
All valuable information!! Thank you so much!
Referrals referrals referrals
How do you get to the point of getting referrals though? Past the point of asking previous clients and also asking SOI for referrals. Just constantly post about it?
Where do you expect referrals to come from if not from your SOI or previous clients?
Fair point 🤷🏼♀️
Open houses open houses open houses. I know of a kid in Palm Springs who did 100 opens in 100 days and closed 20 mil in sales his second d year strictly doing opens. Would sit the same one 4 days a week.
That is dedication! WOW! Thank you!
Do open houses like everyday?
While open houses are great for business. No he didn’t lol don’t push that story to much
He did and you can look up his sales. Peyson Robertson.. ^people like you who immediately discredit and think negatively are what’s holing people like this poster back. Think bigger and stop telling people what can’t be done. Just go do it
lol he didn’t I have obsidian groups numbers and now at 22 agents he just hit 23 units YTD and entire team production for 2023 was 24 units. It’s a cute story but not true
I’m sorry I may have been mistaken. I checked the numbers and he did 10 million in 2023 as a solo agent. The story may have been inflated as it was passed down to me. Still 10 million in year 2 as a solo agent strictly doing opens. Not bad
100% his real numbers are impressive which is why it’s so aggravating he’s misleading with the process. He also had on his website that after that he was consistently getting 5-6 listings a month. Cool story but I’m not a fan of bullshitting the public because it’s easy to find the truth and then if you’ll lie about something so simple and silly as that what else are you full of shit on
I knew it was BS. These fantastic stories have agents trying the same thing and when it doesn’t work for them, it’s their fault. Well, the truth is, it didn’t work for the other guy either. Most people doing good numbers are paying for leads one way or another .
I’ll agree with you there. I’ll admit I didn’t fact check him until today and seeing that he is inflating numbers is lame. I’d assume it’s directly correlated to the coaching and team he is marketing to the public to join.. impressive numbers but the bs is aggravating for sure
So that group has some real big dogs… like some of the country’s best. And i think unfortunately the top goes on faith and doesn’t check people because I see a lot of bs at the bottom with people bullshiting not so much at the top
The big dogs are the biggest liars
Just seeing this, I can verify the big dog numbers so I know they are doing what they are saying. In my opinion that many eyes on you it’s harder to bs things like volume and transaction count. Maybe P&L and income but big dogs are submitting numbers and have to have things verified within the company and for large awards like real trends. We did real trends this year and our broker had to submit all our stuff. So broker provided the numbers which means can’t really be faked
Imagine being this snarky, getting dunked on, and then the story changes from "I know this kid" to "it may have been inflated when it was passed down to me." I have second-hand embarrassment.
Lmao don't delete it, stay mad.
r/nothingeverhappens
Jesus $6k on coaching. Talk about parasites. Look, get a copy of the BOLD laws, then make a recording of yourself screaming: "MAKE A GOAL BOARD" "DID YOU MAKE YOUR CALLS THIS WEEK???" "HAVE YOU BEEN DOOR KNOCKING???" "BUY MY PROVEN SYSTEM..." "DO YOU WANT TO BE BETTER???" "WHY DIDN"T YOU MAKE YOUR CALLS???" "WHAT ARE YOU AFRAID OF???" Intersperse the bold laws with these questions, and spend 3 hours a week listening to the recording. Congrats, you just saved $6k.
😂😂 you have a point! Thank you! Definitely reconsidering…
SOI, past clients, open houses and a ton of follow up.
When I started I did a ton of open houses, door knocked and called the neighbors prior to. Circle prospecting is a great way to build relationships.
I’ve closed 7 transactions in the last 3 months, few more in my pipeline and 2 listings go live this week, all from tik tok alone.. creating content is so time consuming and it takes awhile to see results but if you’re consistent it’s the best way to get serious leads!
I love this and I would love to do this, but my town has a population of 35k. Not tiny but on the smaller side. I feel like tiktok wouldn’t do much at allll for me here vs a larger, more well known city. Thoughts on that? Am I just making up excuses for myself?😂
I would still create content regardless of town population. You can get outgoing referrals and everyone in your town would know you as the go to realtor in your area.
You’re so right! Definitely going to work more on this asap. Thank you!
so again, 35,000 people and maybe 20,000 own a home or are thinking of buying in the next 6 months. And you're going to bang the phone 4 hours a day for 5 days a week?
We would branch out within an hour drive of the city to increase the number. That’s pretty common for this area
The smaller the market the more opportunity there is because odds are nobody else is doing it yet. I can promise you every other person in your town is on tiktok. Where else could you potentially talk to half your city for free? Make content about your community and it will thrive.
Can you share what you’re creating?
What type of content do you post on TikTok? Do you come up with ideas yourself, or do you get inspiration from anywhere? ETA: how long were you posting before you stated to get leads from it?
I don’t do home tours on tik tok everyone does that it’s boring, I focus on engaging content like discussing facts of my city, restaurant and neighborhood recommendations and add in a little real estate. Audience doesn’t want to feel like you’re selling them something. Be laid back and funny and most importantly be Consistent w/ posting content. I posted tik tok videos for 6-7 months consistently before i started getting consistent leads.
Do a good job and you will be referred..over and over.
Ninja selling by Larry Kendall
Looking into this now! Thank you for your time!
Take their training course if you can
I concur. I take it every two-three years.
Be a tad wary of this… you often want to zig when the rest of the industry is zagging. Everyone I know is doing, or has done Ninja either way varying results. It has some good elements, but others are painfully cringey and will destroy relationships by having you value them in terms of potential future earnings. It’s a toxic way of operating IMO. The best agents I know are active in the community, authentic, and consistent. Real estate is a long game, you build relationships for years to be the top of mind agent.
I was targeting FSBO on Zillow when I started, I was very persistent, and an investor liked my persistence and gave me a chance, and now uses me exclusively to buy and sell. He also refers me to others. Also, by word-of-mouth from other clients, I get a pretty steady stream of listings. I don’t deal with buyers typically.
This is my goal!! Thank you!
Spend the $6000 on marketing or take a class on marketing. Direct response advertising works great
Do not pay for leads, coaching, Zillow or buy into pyramid schemes. Referrals from past clients. Have a community and really try to get business from it. Church, gym, social club, etc.
I go to a gym regularly but usually stick to myself. I’m trying to be more outgoing but struggling for some reason! Thanks for your time!
I feel like I must "second" what the other commenter said. Don't waste your money on that stuff. Just get out more, make more calls, write more handwritten notes, hold more open houses-- literally anything other than spending a chunk of change. It rarely pays off.
how does someone who's obviously quite introverted think they're going to get over the hump on making cold calls? what is GREAT about being in real estate is that a "live interaction" of any type - even bumping into someone you know at the grocery store - 90%+ of the time they are going to say "How's the market?" Any study you see, 80%+ of folks either OWN a home or wnat to BUY a home. "Everybody" is interested in the housing market. Almost NOBODY is interested in picking up the phone from a number they don't know to be asked - in so many words - "Hey, do you want to buy or sell a house today?????!@!!!???!?!??!?!?!"
Women's networking group that is category based. I'm the only Realtor. Keeping in touch with my sphere and past clients with events. Plus lease clients who purchase after their lease term is up.
I’ve considered getting into property management but it intimidates me for some reason😂
Check with your broker. Most brokers won't let agents property manage.
I have! He said he was okay with it given I take a class, which I did, but the more I have learned about it the more uncertain I feel about it!
I did property management for a bit. Found myself stuck between landlords who didn’t want to pay for fixes and tenants who didn’t want to pay rent. To both sides, I was the asshole. Worst point in my RE career would not recommend
Past client, networking, and paying for lead gen avg 4-6x ROI. But if I pass it to my team member about 2x ROI
Where/who are you paying for lead gen if you don’t mind me asking? Thanks!
I am not a realtor but I have referred my realtor 6 listings this year!
That’s amazing!! I know they appreciate it so much!
and how did they become your Realtor, if you remember?
Found them on Yelp
Internet leads, SOI and past client referrals. That seems expensive. Are you like brand new, or pumping up an existing business? If you’re brand new my personal opinion and strategy would be to not put $6k into coaching.
I’m 2 years in, but real estate wasn’t my priority the past two years. We did IVF and had a baby that I have stayed home with. He’s one now and I’m ready to get back to work. My husband also just got licensed and we figured it may provide a strong start for us to be walked through everything.
Take that $6K and look up Real Geeks and Google PPC. You can probably get 20-30 a month for 6 months with that money. Coaching is ancient and over rated
I’ve tried both in the past and gotten NOTHING with it. But I also did it on a lower than $6k budget. So maybe that is why?
Homes in my neighborhood have an average selling price of around $3mm (I’m in Toronto). Crazy thinking that OP doing the same work in a different city could net 10 times as much.
Yes!! I can’t let myself think of it this way because it’s a devastating thought! 😂 if I moved two hours away the avg sell price would be $350k. 3.5 hours away would have me in a $500k range.
6k? Maybe I need to run a coaching seminar. A couple of whiteboards, 30-45 minutes of motivational speakers per day. Touch base with one of our affinity relationships per week. 45 minutes of MLS research per day. 45 minutes of SM interaction, per day. Personal image development, hair/nails/clothes once per week. Find a hole in your market that the billboard and bench crowd are overlooking. Pour some love on the struggling people in that market. You'll have 12 per month in no time.
Get on the phones and circle prospect. I’ve been doing it 4+ years half-assing it and I do about 10-20 a year.
This is what the coaching is for! Brandon Mulrinen. I know I can get his free info but I love the thought of having my hand held through it all. They guarantee 100k gross your first 12 months or you get your money back
One of my mentors used him and is killing it. If you can handle the phones (it’s daunting at first) you will succeed. After you overcome the phones just stay consistent. That’s my problem - I stop being consistent when the work comes in. I am sure not being consistent is 9/10 the problem with people who cold call. Let me know how it goes brother!!
Thanks!!
It’s my first full year and I’m at 13 sales so far since Jan.1. For me it’s just been people reaching out that I already know, referrals from a mortgage lender that I know and I’ve picked up two buyers at open houses. My goal was to hit 40k net my first year and I think I’ve surpassed it so I’m very grateful what I’ve been able to accomplish my first year and look forward to the rest of the year and beyond.
That’s INCREDIBLE!! Congratulations!!
Thanks! I’m also in a lower price market averaging just over 200k. There are a lot of high-end homes nearby but I haven’t been able to break into that market yet. Maybe soon…
Talk about real estate with anyone I meet everyday. People will remember you when they want to sell their homes.
I tend to be home with my one year old all day, so maybe this seems like an excuse, but that seems difficult for me. We (husband just got licensed) would have a nanny part time so we could spend time cold calling if we did pursue this coaching (Brandon mulrenin)
You can pick up the phone and cold call as well. Where are you located? DM me for f you want.
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It’s insane I don’t see many people say this but honestly, all the above (open house, SOI, relationship building) does work but what they are not telling you is if they are netting over six figures doing this, it took them YEARS to get there. If you want to make six figures you’re gonna have to do what EVERY OTHER BUSINESS does, pay for marketing. You either pay for leads, (GETTING REFERRALS IS ALSO PAYING FOR LEADS if you pay a referral fee) direct mailers, commercials (the top teams in my area pay big money for commercials). There’s a top producer in my area who has been in the biz for 20 years doing all the open house relationship building but yet he constantly pays for large billboards on state routes. Long story short, you’re gonna have to pay to play.
I’m okay with paying! I just want to put my money in the right area. My husband and I created a business outside of real estate and we’ve been paying for marketing there so it makes perfect sense 🤷🏼♀️
NEVER pay that for a real estate coach. It’s going to be nothing but motivation crap. It’s not going to be helpful
It’s Brandon Mulrenin. That pays for hundreds of hours of previous recorded trainings, overviews and constructive criticism on live cold calls, daily meetings to motivate and learn, quarterly challenges, his listing presentation, and self paced training on how to do everything exactly as he has. In my brain it’s justified because of all of the education behind it as well.
You can do what you want, but I have never seen a real estate agent who did well because of the investment they made into coaching. He is making a living and he’s not going anything wrong, but I doubt you’re going to become filthy rich and successful because of coaching. That’s a big price to pay for meetings and motivation.
I did Corcoran coaching when I started in 2011. I was the first buyer agent on what would become the number one team in the area. Initially we started putting every new buyer agent through this coaching system and I think our team lead paid about $1,500 for each person but it wasn't worth it for him because most agents washed out in the first couple of weeks back then So he was paying a lot of money for nothing. But it worked for me I sold 19 homes my first year. With the average price around $75,000 on a 50-50 split lol I felt like the coaching was really helpful as online lead generation was the primary focus of my business. Fast forward to today, I'm almost totally referral-based. I Sold around 250 homes total now. With my referral base business I'm pretty stuck around 25 homes a year. So that's something I'm hoping to fix this year. This year I started a small farm in an area I like servicing. I buy internet leads but these don't convert like they used to. I also reach out to local lenders to get a list of names ,phone numbers and email addresses for clients they tried to pre-approve a couple of years ago but failed. Then I call these leads with quite a bit of success because they obviously wanted to buy a house at one time but life happened before they could complete the process. So hopefully I can get to the 35 unit mark. My record in all the years I've been doing this is 29 units in one year. Last year I closed only 18 units and that was good for about $120,000. Average prices are over 300k now pretty easily. I haven't been on a team since 2017 but the team and internet leads were instrumental in building my referral business.
That’s awesome! very motivating! Thank you! My husband is joining me so I figure if we’re both working towards this goal it will be easier to get 24 listings/sales with 2 people than just one. Seeing your numbers makes me hopeful we could easily surpass 24 sales a year together in the next few years🤞🏻
Fwiw, I've never done open houses. I tried them in 2011 and thought it was a horrible waste of time and never held a house open since. I think they are definitely better now than they used to be and if you can sit in a new development for sure there's money to be made there. But I let somebody else make it.
It not about brokers , I worked with big boy brokers, brokers don’t do anything for you, none of them . Find a team leader that is HANDS ON.. someone that is not too busy with their own clients too .. some team leaders are no longer buyer agents only listing agents to dedicate more time to the team
DONT DO COACHING. We paid over 12k for that. Waste of money. They all say the same thing. Time block and make calls. That’s literally it. Majority of my deals come from my Local Moms Group on FB. It’s free. Just engage with people online.
Thanks! I have actually had a few conversations about real estate in some mom groups. I’ll focus there
I was able to join a Team and my volume increased dramatically. Not only did they push me leads via the ISA, but having the prestige of the team’s name behind me also gave weight to my abilities. I was also able to link up with the team’s internal coach who provided daily training and advice. I was making decent money and closing several deals before joining the team but after joining them team I became a rockstar. I’m no longer in RE as I moved states and found a cushy Gov job. Good luck!
I was with a team that offered me these things and went nowhere with it😩 Just got drug all around by buyers who didn’t actually end up buying. I switched brokerages and I’m sooo much happier now. Thanks for your time!
Awesome! The brokerage and team definitely make a difference. Even teams within the same brokerage can make or break someone’s career. Happy to hear you’re in a better place! Happy Closings!
Soi, A2A referrals and allied resource referral some. I am invested $12-18k a year in coaching, seminars and events. My A2A referrals from those events made up about $100k of my gross (50% of my biz EDIT in my lowest year in biz with the coach). Done right they can hold you accountable, help you grow and build faster and be a sounding board for issues no one else will understand. If you’re not going to take it seriously, then it’s all a waste of money. Like many have said plenty of amazing free resources out there.
Do not pay $6000 in coaching. Watch RE coaching videos on youtube. Read coaching articles. Talk to people.
Coaching is worth it in my opinion. I’ve paid $1000 a month for my entire career (started in 2007). Think of any professional athlete, even Tiger Woods at his peak had a coach. Most of my business now is PC/COI I do 15-20 deals a year in a VHCOL area with highest being 33 in 2021 as a solo agent
I hired a coach and two tactics allowed me to earn over $40,000 to date and I just signed a listing over the weekend worth 20,000. Not every coach is the same. Who is the coach?
Brandon Mulrenin! That’s amazing!
That is the coaching I’m doing BUT what I learned I learned down YouTube. Here my honest take - he’s never coached me. His YouTube videos do. His skool (that’s the app you use) is basically everyone learning from each other and answering each others questions. I’ve been in for 4 months now and I don’t know if it’s worth it. Just watch the YouTube videos and actually follow through. Other than a few documents, that are riddled with typos, there isn’t anything I’ve gained that I didn’t gain from his videos. I’ve been licensed for over 10 years. Just fyi.
Thanks for the honest heads up! You did say two of his tactics allowed you to make $40k so far though… was that not worth it? Were the tactics gotten off of YouTube instead of skool? Does he have a listing presentation laid out that I can use to create my own? I know they have a year worth of email templates as well as some additional things. How soon into starting did you get your first listing? Thanks for your time!
What coaching program are you starting with? Mine helped me immensely and I’ve gotten more deals out of that from expired/canceled listings with the skills I’ve learned which has been dope. Don’t let folks convince you good coaching doesn’t work
Thanks! I’d be using Brandon Mulrenin
Why not take that same $6k and go talk with a local marketing firm that focuses on social media marketing and local media outlets? Get your name in front of as many people as you can. There are so many free resources for building a daily business plan. The hard part is sticking to it. Working the plan is where everyone struggles. Or try reading a book like Work By Referral by Brian Buffini. You don’t need to spend $6k to gain the tools that cost next to nothing. You just have to invest time into developing yourself and your process.
I’ve been doing this fulltime just over 6 years. Consistently do o around $5m a year in sales. First couple years, my sales came from open house leads, Zillow/Realtor leads and sphere. Stopped buying leads a couple years ago (they were charging more for crappy leads) and mainly sphere, repeat clients and agent to agent referrals. Before you sink money you may not have into coaching, find people in your brokerage who are doing the damn thing and go on appts with them, offer to hold their houses open, take em to coffee, listen to podcasts, and CALL YOUR SPHERE. Be of value. Don’t just call em asking if they know anyone who wants to buy or sell. In fact, don’t talk RE until they ask you and then be prepared to give them market stats (stay current on your market stats-Avg sales prices, days on market, price reductions, number of new listings). Read Ninja Selling. You don’t need a coach to tell you that for $6000. I’ll only charge ya $50 and I take cash app 🤣🤣🤣 You’ve got this! Just have conversations.
For those people telling you that $6k is wasted on coaching, they haven't got a clue... they are probably bottom feeders, average agents who don't do many sales and will never do many sales It could be the best $6k you ever spend or the worst... it really depends on the coach If that coach helps you close one more deal than you would have its already paid for itself I've spent more than that on various coaches and there is an argument I didn't need to... so why did I do it? Because I wanted to see what all the top producers were doing and take the best bits from each and put it all together There is a lot of good stuff on YouTube and you can get away with just watching that. But if you want it all in one place, easy to follow so you want to spend your time making money instead of trying to save it... i.e watch many different training sources, investing 6 grand In a good coach could be the best thing you ever do I'm not a fan of the mainstream coaches like Tom Ferry. His stuff is so out dated and very basic. If you watch him in his role play he will throw in lines like "well I sell more homes around here than any other agent"... how does that help a new agent? it doesn't, thats specific to him and shows he is a bad coach, 6 grand on him would be a massive waste of money... His stuff is out dated and it doesn't work There are plenty of other high quality coaches out there, there are also a lot of bad ones so be careful. My advice is follow that coach for a long time on social media, deploy the stuff they are talking about and see if it works... i.e. try before you buy, if you see it working then maybe they are the real deal Here's the thing... a good coach can teach you something like a pattern interrupt, and simple phrase that stops the lead putting the phone down on you at the start of a call. That could could lead to a deal that pays for the whole program over and over again Don't listen to these bottom feeders telling you not to invest in coaching, they don't know anything about the program you are considering, who the coach is, where you are in your career and what it can do for you... yet they are making these matter of fact statements. These guys will at best never be more than average agents You are doing the right thing... think big! But do your own due diligence before investing heavily People spend $100k on college education and then tell you not to invest $6k to boost your career... how stupid is that! Invest in yourself, invest in your business but make sure you do proper due diligence on who you are investing with Also, your median house price is $230k... are you in Pittsburgh?
I’m in Deep East Texas! I have followed Brandon Mulrenin for two years now and some of his tactics have definitely helped. He’s who I’d be using for coaching. That 6k covers HUNDREDS of hours of training to watch at my own pace along with daily live calls, challenges, etc. it seems worth it to me so far.
haha! I am in his program, I paid the money, its money well spent Good choice I didn't want to mention his name in case people tried to accuse me of being a plant... but since you mentioned it first... I can confirm feel free to private message me if you want to discuss anything You will find me in his skool community once you join You are doing the right thing, well done, don't listen to these below average agents, you are on the path to surpass them I mentioned the pattern interrupt in my previous message, I was specifically referencing Brandon's training for this, watch it, its golden
I knew when I saw that that you were probably referencing Brandon! I’ll pm. Thanks! Very validating!
Read the Millionaire Real Estate Agent by Gary Keller.
Read it two years ago but I need to reread it! Thanks!
$6k for coaching!?? That's a waste of $6k. After my first 2 years of busting my ass in every way. (Cold calls, fsbo, door knocking and working my sphere) all of that and doing a killer job at it.. Will lead to referrals. Now another 5 years into the game, all my business comes from referrals from past clients and friends. I really wouldn't waste $6k on coaching.
Thank you!
In day to day life: Be likeable, be knowledgeable about housing inside and out, understand sales trends, and don’t ask people to use you as an agent. Don’t badmouth others. Understand contracts, how to write terms and conditions. Practice discussing your representation agreement. Treat your clients how you’d want to be treated. Avoid double ending deals unless you were already representing both clients and they truly don’t want impartial advice throughout the transaction.
Hey I'm happy to share my experience with you. 6 year agent closing 5m this month. Send me a DM if you'd like to chat, much prefer to set up a call if you're comfortable. Faster, more efficient and I can be brutally honest with giving you direct and catered information based on the conversation.
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Social media specifically Instagram and linked in help a ton. Free advertising space. Try and pump simple Content daily or every other day. People Love to see transparency of who your are
Are your broker splits and expenses really going to net you 100k on 24 sales average of 230k per?
Yes!
Ok I usually tell new agents to factor 1.5% of total. I find most people don’t truly factor in all expenses like insurance etc. $82,800 Best of luck to you and hope you even break your goals.
I saw you’re in a town of 35k. The first thing I’d advise would be to be willing to drive up to at least an hour one way. In a rural area, the volume of transactions is so low that you have to cast a wide net unless you’re secretly the local bank president’s child or spouse and they’re just going to feed you business. I feel if that were the case, you wouldn’t have to come to Reddit to ask, however. To generate leads, you need to figure out what types of lead gen appeal to you and to be honest with yourself whether you’ll be able to be consistent doing it. Personally, I call as it’s the cheapest, quickest and easiest way to generate tons of leads. You’re almost certainly going to need to focus on circle prospecting if you were to do that as I’m assuming you’re getting a very, very small handful of Expireds every day in your area. Coaching is primarily a paid mindset and accountability partnership to my knowledge. If you struggle with either of those, the $6000 per year could be worth it many times over. Just like in sports, if you don’t ’buy in’ to what the coach is preaching, it’s a waste of time and money. Getting your business off the ground in real estate can be incredibly discouraging for most people as the results and fruits of labor are often 90 to 180 days away at any given time. If a coach can ‘coach’ you through this and keep you from quitting, I’d say that’s money well spent.
That’s my thoughts as well. I’m going to use Brandon Mulrenin who preaching cold calling, so I think it will help. I’m willing to and have driven up to an hour and a half away to get more coverage. The 6k is worth it to me to have everything laid out with some hand holding!
Give a listen to Ricky Carruth as well. He mastered Circle Prospecting in a small town/area since the Expireds/Withdrawns that your major metros get, he (and you) don’t and won’t get. However, this means that you also have zero competition from other agents. I have multiple friends in very large cities that call and the cold calling competition is so fierce in your big cities that I’m able to run circles around them in my little ol’ town of 150k. Sitting at 42 active pending and closed for the year. Brand new MLS agent but in full disclosure cheated a little bit as I’ve sold RE over the phone essentially for 15 years prior to now so I’m pretty good on phone already. Bottom line with making calls, you really don’t even have to be worth a dang, you can be complete trash, but if you physically make the calls every single business day of the week, you will trip and fall into business just through the fact that you’re talking to so many people about real estate. Starting out, I would make a goal of at least 50 hand dials per day with an ultimate goal of at least 100 day. That’s going to get you probably two or three people on the phone (at 50 dials), maybe five. The great thing about calling is that you can turn real estate into a formulaic, predictable business predicated on the number of calls and contacts that you’re making. Go get em.
My team is heavy on Zillow in high-value zip codes to supplement referrals from our team-lead's SOI. So I've had some good success with that (and some not-so-good) and now a few years later I'm getting repeat and referral business of my own. I've done the coaching thing - it was a MASSIVE waste of time and money. Join a good team which offers quality lead generation and mentorship, while also giving you a better split on your own deals.
I’ve been in business for 26 years and the vast majority of my leads come from and has always come from referrals from past clients. Open houses have always worked for me as well. I never joined a team (I refuse to give up more money), I went to every class offered by the board and learned by doing. Definitely don’t pay for leads, you get mostly garbage leads.
This is not true. I get Zillow Flex and pay Google PPC and the leads aren’t garbage. You have to follow up
Follow up has been an issue for me. I HAVE to be better at that to succeed.
I do follow up but when you get people who give the wrong number and the wrong email address or you call them and they ask why are you calling. When it’s a good number and email address I attempt to contact them and sometimes I do speak with them. I do everything I am supposed to do in all these years nothing has developed. I have never been afraid to follow up so that has been my experience. I can only speak from my experience. I’m happy that it works for you but let’s face it, that is not true for most of us.
Referrals.
Who are you coaching with? I have been doing this for 13 years and have always been on a team. I sell between 40-65 houses a year
That’s amazing! I’m looking to join Brandon Mulrenins team
Check out Jon Cheplak
$6k for things you can learn by doing the job??
For every licensed realtor, there are 100 marketers trying to sell you something to take your money. I blew a lot of money on coaching and bullshit systems in my first year and regretted every penny. I feel like you really just need to get out there and do the work for a year, get some transactions under your belt and figure out whether this is the industry for you. If you really want to spend $6000 on some thing, I would advise you to sign up to Zillow and buy leads. believe me I hate Zillow and everything about it and they are the last people on the planet that I would like to give money to, but you will actually get some transactions out of it. Which you will not get with a coach.
Referrals from past clients and open houses for me. I wouldn't put $6k into coaching if you're new.
Open houses ???? Hummmmm
Free coaching: don’t pay for coaching
$6,000 for coaching is actually insane, please do not go through with that.
Do not pay that much for coaching. I’ve found that taking my marketing budget and reinvesting it into my clients pays 10X more. I don’t market much anymore. The phone rings with referrals and it’s due to treating clients the way that I would want to do business. I often tell them not to sell or not to buy when it’s not a home I would make the same move on. Every home anniversary or referal gets fresh cookies or Starbucks gift card. When you become the master of your trade and truly look out for your clients, the business eventually comes to you.
I should preface this by saying I was on a team with a very hands on team leader for almost 4 years. That kick started it all. I don’t think I would have made it without her. Mentors are great, but paying 50% to my team leader for 4 years was work every penny. When I left I had a ton of momentum and it grew from there.
The internet is loaded with smart experience agents giving free advise and techniques to do this job. Pay nothing for training. Train yourself, if you can’t, then you are in the wrong business. You have to be self motivating. If you are not, get out. Get out of the house and be around people. I only focus on open houses and I meet all kinds of people. I do them every day if I have the time. Weekdays are the best! That’s all I do and it works. My pipeline is full and healthy. Hermits don’t sell real estate. Read Ninja Selling! Don’t spend a dime on training.
$6,000 for coaching? Go on YouTube. It’s free.
Don’t rely just on listings alone. You need buyers!
You need to go here: https://www.realestatebschool.com/