Can I Be A Successful Estate Agent With No Money
Yes you can be a very successful real estate agent with no money. Below are some tips on exactly what to do if you have no money starting out in your real estate career.
Most Real Estate Agents Start Out With No Money
Many real estate agents start out with no money. Some fail out miserably and others take off into unimaginable levels.
When I started in the real estate industry, I had absolutely no money. I can tell you it was a tough start. But below are my 3 favorite ways to market and build your real estate business with NO MONEY!
Open Houses Do Not Cost You Much Money
Because you are starting out in real estate without any money doesn’t mean you cannot do income producing activities that can make you money!
Print open house flyers at your office. Borrower open house signs from your Broker.
Thereafter spend 4-5 days doing open houses from 10-5 on houses in high traffic, desirable areas.
Your goal is to build rapport with as many people as possible. Ask them questions, listen carefully and try to set appointments to view other property with them.
Want more? Check out his article for an in depth plan of action for open houses. Click HERE.
Real Rentals Are A Great Source To Generate Commissions
Search on your local MLS all the rental properties that are in your area, of decent price and cobrok a decent commission. Contact those agents and ask if you can market their rental(s).
Place these rentals on Facebook, Craigslist, Snap Chat and any other social media or free social media / marketplaces.
I would try to have at least 15-30 properties to market daily. If done right your phone will ring a lot!
If the average cobrok was $300 and you leased even 2 a week that would be around $2,400 per month. Not bad right?
They also pay quicker than a standard real estate sales closing. So yes! You can make money quick and be a successful real estate agent with NO money AND no listings of your own!
PS – Rentals lead to Sales
Keep in mind these tenants who you graciously helped out, will return the favor in the future. Many of them will be future home buyers but moreso, they will refer you to their friends and families assuming you did a kick ass job.
Be sure to read our article on Past Client / Sphere Of Influence. This database of people will grow over time and you will get repeat business without trying too hard. Click HERE to read more on setting this up.
Cold Call / Door Knock Doesn’t Require Any Money
Bottom line. In this business, the more people you get in front of, the more chances you stand of closing deals.
So an excellent way to excel as a real estate agent with no money is to cold call or door knock.
Take the expired listing for example. These are listings that didn’t sell with their previous agent. Pull a daily list each day and go knock on their doors. Just be sure they have not been listed yet.
These people will come up with every objection possible. Just be sure to continually work on your scripts and dialogue like THESE.
Almost all expired listing will relist with a real estate agent at some point. This is a GOLD mine. Why? Well it will not cost the real estate agent any money besides gas and time.
And they are primed to sell. Imagine speaking with 20-50 expireds week? Don’t you think you would get pretty good at handling objections? And don’t you think you would start getting listings?
Listings are the gateway to making a lot of money in your real estate career.
By the way, Expireds are just one group as a suggestion. Others are as follows: FSBO (For Sale By Owner), FRBO (For Rent By Owner), Geographic Farm Area and Business To Business.
Do you want to get on the phones right away and take your business to another level?
FSBO’s, Expired Listings, For Rent By Owners, Pre-Foreclosure (Short Sales), Geo Areas – The link below will waive their $149 sign on fee!! Explode your business right now!
Concentrate
To conclude… You do not have to have money to be a successful real estate agent.
You just need to have a certain amount of drive, a target market and consistency. These three things will give you an incredible ROI (Return On Investment).
To your success!!
Steve