Million Dollar listing real estate agent vs reality.

million dollar houseMillion Dollar listing real estate agent looks great as a television show. But over 80% of real estate agents do not make any money after 5 years. a remaining bunch make 36,000 a year. A huge group just quits under 2 years. Why? because people are shown a TV show and not real life.

Now the real work. Well rounded office, multiple deals and income streams. Why through recessions and booms some real estate offices stay open and make gains? Because they are on a more realistic model.

A Property Management Office, that finds deals to flip, sale, and Hold.  The office  has the opportunity to use the licensed agents to sell properties that wont fit in their rental side of things, bringing in more cash flow for the business.

These companies are usually family oriented. Starts with a Licensed agent, and  a husband/spouse or contractor. The licensed agent finds deals and the contractor works on them to make the either a flip/sell or HOLD/rental.  Well that contractor can also be temporary maintenance until full time maintenance is needed.

Step two send out over 3000 letters for over 6 months trying to build your property management side of the business into at least 50 to 100 units. At 8-10% of the monthly rent the returns can be great. This is where a office manager or front desk executive assistant comes in to answer calls, receive applications, set up appointments, handle emergencies and receive rent payments. At this point you also have a maintenance guy and a HUGE list of people you work with for emergencies.

Step three grow healthy. If you need more staff add where you can, stabilize. Having a company with 100 properties to manage. Then additional 10 properties in process of being sold, or being added to portfolio.

I would say your ultimate goal is 100 properties you and your family OWN. Regardless of clients coming and going you have a well rounded portfolio. As well as future growth into managing apartments. 

Structure and a Plan is necessary to be successful.  Check out the One Page Business Plan to get your Company the lines of business Credit it needs to function.

 


Helpful VIDEO.

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Take your real estate business to the next level in 2016.

real esatet 1

Take your real estate business to the next level in 2016.

Leads

Leads

Leads

what if you have no money starting out?

thats ok I know many ATX realtors who kicked butt with no money. HOW???

open houses and sign up sheets.

I know totally not sexy. But pick great houses, put signs for it at important turns and a mile away. Every Saturday and Sunday Until.

Eventually you will be working the list of signups on saturdays and open houses only on sunday.

Its important to remain consistent all year.

Why because you want other agents to work with you, and clients to see you all the time in their area. If looking for a house in a area, the agent you see often and feel is available to you gets your business.

Imagine a couple goes to open houses for a month in a area they like. If you are doing open houses in that area repeatedly in that area, WHO are they likely to ask for help from. You should have them on your signup sheet by the 1st or 2nd open house.

Technology is great. Computer leads are great. CRM systems are great. but at the end of the day GOOD ole fashion consistency and follow up wins. 

Part 2.

Real Estate WHOLESALERS, FLIPPERS, INVESTORS.

Take your real estate business to the next level in 2016.

Leads

Leads

Leads

what if you have no money starting out?

well you need some, NO MATTER WHAT GURU says you don’t.

If you have a decent job the past two years, I would aim for a buy and hold.  I would aim for duplexes, triplexes and four plexes.

2. NETWORK

I would go to countless REIA events in your area, join BIGGERPOCKETS

3. WEBSITE

I would use http://www.leadpropeller.com  3 we buy houses type websites for $99 dollars a month. Get leads to your phone via text or voice.

4. Drive for dollars

This works, I worked for papa johns as a delivery driver in ATX  I saw house after house in neighborhoods that were abandoned, vacant, run down or uncared for. I learned many streets in different neighborhoods. it was a great opportunity.

if you have $200-$300 set aside monthly try for 12 months.

5. Direct Mail

I know people say it doesn’t work. You do not know what FINALLY works for a distressed HOME owner who are keeping a home for emotional reasons, or thinks they can hold on a little longer.

Check out

Austin Texas Real Estate Playlist. 

Check out

Courses to help you get business credit, start investing and create a better property management office. 

Check out Bigger Pockets

Another great one is GET s*** done himself.