How to Crush Your First Year in Real Estate

The first year as a real estate professional is filled with all sorts of emotions—excitement over passing the licensing exam and beginning a new career path as well as uncertainty about the speed in which income and success may come.

If I had a dollar for each time a newbie agent asked me how to crush his or her first year in real estate, I’d be able to retire and buy my own island in the tropics. But, since I’m still here, I’ve decided to summarize my top 5 tips for killing it your very first year right here.

5 Tips for Success in Your Very First Year as a Real Estate Agent

  1. Pick the right brokerage. First and foremost, if you do not align yourself with the right brokerage from the start, you may find yourself searching for a new brokerage in a year or so. Seek a brokerage with ongoing support, good tools, and a strong and friendly administrative team. Do not—I repeat, DO NOT—select your brokerage because it provides you with the best commission split. 
  2. Seek a mentor. If you are going at it alone, make sure your new brokerage has a mentor program and that your mentor is actually going to be available to support you with whatever you need. Will the mentor be able to attend appointments and showings with you? Will the mentor be willing to assist with negotiations or allow you to shadow at his or her appointments? If the answer is ‘no’ to either of these, keep looking.
  3. Join a team. Unless you are starting out with a huge database and a marketing plan already in position, then your best bet for the first few years is to join a team—particularly a team with a rainmaker who shares the leads. In this way, you can cut your teeth and start generating buzz and momentum post haste.
  4. Use a Transaction Coordinator. If you are in California, then you are definitely in for a challenge when it comes to the real estate documents as a simple purchase transaction can have 55+ documents in the final transaction file. A transaction coordinator—like the qualified crew at Transaction 911—can help you set yourself on the course for success by helping you have the smoothest transaction possible. 
  5. Hold 52 open houses. If you want to be successful, commit to holding one open house per week—preferably at a home with a low price point that will sell quickly. Create an open house marketing plan and work that open house utilizing every possible lead source in order to obtain buyers and potential future listings.

My last and final piece of advice for crushing it your first year in real estate is to leave your ego at the door. The first year is a time to learn from others, while at the same time, closing as many deals as you can. Remember that those around you, particularly office administrators and transaction coordinators have got you beat a thousandfold when it comes to experience, and these folks can be a tremendous resource when it comes to contracts, documents, and risk management.

How to Crush Your First Year in Real Estate

Got any tips to add to the list? Feel free to share ‘em in the comments section below.