In this episode we talk about the importance of getting for first real estate deal in 30 days. It's an important learning experience, it puts money in your pocket and it makes it real.
Careers in Real Estate - Your Five Minute Monday explores the many areas in the real estate industry to participate in and if it is the right career for you. I delve deep into the dozens of niche’s and specialty areas that many people never new existed. I also bring listeners up to date with the most relevant real estate market news and trends to be sure that new real estate professionals clearly understand how and why we work in our industry. Each episode is time sensitive to the market at that moment.
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Getting your first deal in 30 days
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Have you ever wondered what it takes to make your first deal in 30 days, stick around and I’ll tell you how.
I am asked all the time by brand-new agents how am I going to make my first deal.
The answer is not simple, but it is pretty direct. Of course you need to first get all your training in as quickly as you possibly can.
You can’t expect to go out and do a listing presentation if you haven’t covered listing contracts in your training. You can’t expect to go out and do a buyers contract if you haven’t had listing training.
Things of that nature must be taken care of first. But it’s gonna be very important to have the right mental attitude and to work hard to get that first deal.
Because until you have that first deal under your belt, get to cash your first check and realize that it’s all true and you can make that kind of money on a very regular basis, it just feels like a fantasy.
There are 1000 excuses why you don’t have time to do what you need to do to succeed. I’ve heard them all over the years. Not one of them could be justified.
You could pretty much work around any situation if you really wanted to.
I understand that many people have to start their real estate career part time. I understand you need to have an income and continue making money. But I will suggest, that if it all possible, try to jump into it full-time and get all that training out-of-the-way very quickly.
You have a much better chance of succeeding. If you have a fallback and a way to make a little money, where you don’t HAVE to make money in real estate, sort of a crutch, it could be a good excuse not to make money at all. But if you have to make money and an eugenics to do so, that’s always the greatest motivation to make it as quickly as possible.
So the goal here is to make your first deal as soon as you possibly can, within the first 30 days of course.
That means things are going to have to go 100% right for this to happen. There can’t be any major dilemmas going on. Training has to be done immediately. You need to start contacting your SOI Sphere of Influence, as early as you can before you even start your training.
Have a client list together of people who might want to do business with you. Your SOI is your family, friends and acquaintances. People whom you might have a warm contact with. Not a cold contact or a cold call.
Having that list put together early is essential. You’re not gonna be able to show them properties before you actually get your license and get your training, but at least you could be communicating with them letting them understand what you will be doing and that you’ll be ready very soon.
You’ll be surprised how many people out there are always thinking about buying or selling something, and by knowing that somebody they know and trust is getting their license they could easily wait for you to pull the trigger and make that happen.
Over the years, I’ve seen people contact family members and friends and have 6 to 8 people waiting for them to buy a home once they get their license. That will catapult you into the industry quickly.
But that first deal is all we’re talking about right now and that shouldn’t be too hard to do.
If you have listened to my podcast before, you’ve heard the three things you need in this career to succeed. Desire, Motivation and Drive. But you will also need to be extremely committed.
You need to be committed to being the best. That means you can’t worry about what other people are doing out there. You have to be your personal best and do everything you need to simply make things happen.
You choose a goal and do everything you need to accomplish that goal. And if you’re still not sure about what to do once you get your training, you need to get with your manager or trainer that guides you through step-by-step to make sure it happens.
Getting your first deal in 30 days also does many other things. It gives you the confidence to get your next deal and next deal after that. It also will give you the experience of going through the motions of a full and complete deal that closes.
It’ll also put money in your pocket and will also make it real. It’ll make you understand that everything that you’ve been hearing about it even working for and training for is real and going to happen on a regular basis.
And that is your five minute Monday