Let’s not beat around the bush. In brief, it can take around six months for real estate agents to make their first sale and start making money. That said, it’s not a universal truth, and the timeline is different for everyone. But generally, it takes approximately six months to make your first sale, a year to start generating consistent money and a year and a half to earn a profit.
Real estate agents make money through a variety of means, including selling marketing, legal and negotiation services from which they earn a commission from as a percentage of the property’s final price. This is normal procedure for a realtor whose revenue stream often revolves around commissions.
The uncertainty around making money in the real estate industry is related to the difficulty of establishing yourself in the industry, regardless of the lack of degree requirements, due to a lack of connections. This, among other challenges, is a hurdle for realtors to overcome to get on a sustainable path of making money.
All this in mind, there are four tips to keep in mind to help you get a head start at making money:
1- Organic Listings
Use organic listings to your advantage. Organic listings are listings natively hosted on your site, they are indexed by search engines and so appear in search results. These types of listings can boost SEO and therefore, make it easier for you to be found online.
2- Local Content
Leverage your local expertise to outperform portals. Root yourself within your community, involve yourself deeply and generate content around this gained local knowledge to attract traffic.
3- Develop a Niche
Distinguish yourself from your competition. Narrow down your focus on a specific aspect, carve out your niche, whether it’s based on location, clientele or listing type, and base your marketing on it.
4- Find a Mentor
Find a mentor. It’s as simple as that. Find a mentor to guide you and give you advice to launch your career on the right track.
With these four actions, you can increase your chances of earning money faster. However, at the end of the day, everyone works at their own pace. At The Cheviron Academy, we are dedicated to providing you with all the resources necessary to ensure your path to realty success.