Useful Info for RES
What is a typical working day for a property agent?
You decide ! One thing for sure, you do not need to apply for leave or MC. The very hardworking and performing salesperson can work 7 days a week and more than 8 hours a day but there are also top performing salespersons who only need to work half a year and achieve significant results. It all depends on your individual style and preference.
There are some hidden perks for real estate agents , such as, we can go for very long holidays especially after we achieved our personal sales target. We also can visit the gym in the morning and find pockets of time during the office hours to run own errands which means you will not need to jostle with the crowd and that would cut short your queuing time too.
As a general rule of thumb, normally Salespersons who focus on residential properties are busier on the weekends, while Salespersons who do commercial & industrial properties find that their peak work happens on weekdays.
How much capital I need to have to come into this trade?
The typical start-up cost is your RES course fees & exam fees which is about $1,000 in total. However there are ways to get subsidies and reimbursement on your course fees. Do check it out with me if you are keen to find out how to get those. Once you get your license, you will need to set up at least one property portal account which help you to do your marketing plus one property analytic tool account which help you to do research, check property information and do analysis. These business and marketing tools will cost about couple of hundreds to even a few thousand dollars in a year.
Generally, it would be ideal to save about 6 months of reserve for your monthly spending before embarking on your real estate journey as the sales commission typically takes about few months to even a year to come in. In addition, you need to buffer for the time in marketing. You will also need to buffer for prospecting costs on a recurring basis like flyer. However, for new agent who have tight budget, can always choose prospecting methods like door knocking and telemarketing.
What does it takes to be a successful RES?
Only one word “Persistence”. Whether you possessed a PHD Degree or holding a high position in a company now, when you come into Real Estate Sales, everyone starts from Ground Zero. We have top producers who are of average intelligence, with no high qualifications and some of them cannot even speak English fluently but they have one thing in common which is they are very persistent and determined in achieving their goals.
With the right mentor, right agency support, right training programs and system, it will definitely help you to achieve success faster.
Can part timer make money?
I always believe that to be successful in anything, one need to be 100% laser-sharp focused. However, we do have some agents who can only work part time due to other commitments, and they are happy to just earn about $30K extra income in half a year. I have also seen and known part-timers who can earn more than $200K in a year, however, these are the exceptions rather than the norm.
How much does top producers earn?
See table below for the guidelines of our commission earnings for top producers