Why I am Starting My Own Real Estate Brokerage
I have been a licensed real estate agent for over 15 years. During that time I have worked with the same company. My dad helped start the company in 1992 and I was on his team until 2013, before I bought him out. Being a real estate agent was not something I strived for when I was younger, but it has certainly worked out well for me. I do not sell many houses as an agent anymore, but I have a team of agents who work for me. It only makes sense for me to start my own brokersage, especially since I just bought a 68,000 square foot building.
Is being a real estate agent a good career choice?
I grew up around real estate my entire life. My dad was an agent since before I was born and I remember sleeping under his desk when I was a kid. I spent a lot of time around real estate and wanted nothing to do with it when I was in high school and then college. After college I could not find an awesome job in the finance indutry so I worked part-time for my father. Part-time turned into full-time and I got my real estate license.
It took me a while to gain some footing as an agent, but my dad also did some investing. I loved the investing side of the business until I found my nich as an agent selling foreclosures. I completed BPOs, and listed REOs for banks. I went from selling less than 20 houses a year to selling over 200 houses a year.
https://investfourmore.com/2014/10/27/become-reo-hud-listing-agent/
I hired an assistant, automated the business, and focussed more and more on investing. As I said I sell almost no houses as an agent now, but I flipped 26 houses last year. I also have agents on my team who sell houses. You don't have to be an REO agent to make good money in the buinsess. Being a real estate agent can be an awesome career and has many advatnages:
-You can make your own schedule
-You can create your own business
-You can make a lot of money if you know what you are doing
-You can create a team who sells houses for you
-It can make you a much better real estate investor
The trick with being a real estate agent is you have no boss. You must motivated yourself and choose a broker who will train you how to sell houses. Many agents have no idea what they are doing, and crash and burn. Below are some articles that will help if you are thinking about being an agent:
https://investfourmore.com/2016/06/06/how-much-money-does-a-real-estate-agent-have-to-pay-to-their-broker/
https://investfourmore.com/2014/06/12/much-money-real-estate-agents-make-first-year/
https://investfourmore.com/2013/11/20/much-money-real-estate-agents-make/
https://investfourmore.com/2014/08/18/can-real-estate-agent-find-perfect-broker-work/
https://investfourmore.com/2016/09/30/how-to-be-a-great-real-estate-agent/
I have many more articles on my blog and I also wrote a book on how to be a successgful agent.
https://www.amazon.com/How-Make-Real-Estate-Agent/dp/153366160X/ref=asap_bc?ie=UTF8
Why I am starting my own brokerage?
In the past I did not start my own brokerage because I had a lot of things going on. I still have a lot of things going on, but I just bought a large building that will be perfect for my own office.
By starting my own office and paying myself rent I will save at least $30,000 a year. I will also be able to design the office, have more control of what agents we hire, and not have to worry about the future of the office I am in now. My goal is to open up the new office on June 1st of 2018 and we are already in the process of fixing up the new space!
I was a real estate agent for like a month until I found it wasn't for me... You need to have that spark on you that motivates you to sell and I don't have that. I've learned a lot though... I've learned it could be a great life but also could lead you to bankruptcy if you don't know what you're doing... That's what happened to the company I worked for...
There is a lot to consider. You don't have to be a great salesman to be an agent, but you have to be organized and disciplined. I am not a good salesman or even a people person, but I still did fine as an agent.
Well you maybe right but I found it wasn't for me... xD
That makes total sense. It is not for everyone.
Thanks Mark @investfourmore. Wow, that's quite a purchase there. Congrats on your Success in Real Estate.
Let me ask you something and this is just for fun, but also curious.
If you could do this at Steemit and make comparable income as Real Estate which would you choose to pick as devoting your time doing ??
Say someone had put a gun to your head and you had to pick one over the other ?? And they earn the same income
Anyway just being fun, but seriously thanks for the great Content you provide here :)
I would do real estate over Steemit. I love the platform and I love my blog as well, but I am addicted to buying houses and properties. I could not give that up.
That's a wonderful thing to have that Passion and also be able to make that kind of income :)
How do you have time for this site? lol
Per the post: "I hired an assistant, automated the business, and focussed more and more on investing."
It's all about knowing how to implement systems, delegate work, and prioritize tasks/opportunities.
That being said, I definitely think @investfourmore could write plenty of posts on productivity!
Must be a really good assistant and really good system. Get the assistant on steemit! lol
I have tried, she doesn't want any part of it lol
:( Could you bribe her? lol jk
That is a good idea!
I like to write for one. This site is perfect for me.
I have a project manager, a team manager, 4 other agents that work for me plus a book keeper. I am looking to hire more people as well. I spend my time on writing, and looking for deals.
I feel like I could be a real estate mogul if I had your key assistant working for me. lol
Are you part of a MasterMind group like Deal Finders?
I used to be part of one, but I am not anymore.
Looks like a good plan for you.
Thanks !
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by InvestFourMore from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
You got a 1.38% upvote from @buildawhale courtesy of @investfourmore!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.
You got a 0.96% upvote from @postpromoter courtesy of @investfourmore!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This post has received gratitude of 2.00 % from @appreciator thanks to: @investfourmore.
4.88% @pushup from @investfourmore
Your post had been curated by the @buildawhale & @ipromote team and mentioned here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-02-13-18
Keep up the good work and original content, everyone appreciates it!