 Today, I'm going to give you four tips to make $100,000 in your first year in real estate. Now these tips are going to be good if you're a new or experienced agent. Now why do I have the audacity to tell you that I know how to help you make $100,000 in your first year in real estate? Well for one, I've already taught other agents how to do this who have been successful in making $100,000 in their first year in real estate. Secondly, I've been in real estate since 2002. I made a million dollars by the time I was 23. I lost it all in the crash of the late 2000s. I bounced back with a vengeance and I made over a million dollars last year as a single agent. So before I get into the four keys to making $100,000 in your first year, I want to give you a couple of things not to do. The first thing I would say not to do is buy any leads whatsoever. Buyer leads are a very inefficient source of leads. They'll run you around, most of them won't even call you back. This is not very efficient at all. The second thing not to do is any heavy social media advertising, any heavy social media promotions. In the beginning, I want you to focus on more about building your database and relationships with prospects and building that database strong for the future instead of trying to promote on Facebook and Instagram. It's okay to do a little bit of social media posting in your first year, but I want you to save all your heavy social media advertising for year number two. So tip number one of how to make $100,000 in your first year is to work 50 to 60 hours a week. Now, I know that sounds cliche, but real estate is tough and you have to put the time in to get where you want to be. Later, I'm going to tell you exactly what to do with that 50 to 60 hours. But for now, I want you to realize that work ethic is a big, big part of real estate. Just showing up to the office is not work ethic. A lot of agents show up to the office and they chat with other agents and they work on their website and they design their business cards and they work on Facebook ads. These aren't money-making activities. Agents get confused with what makes you money and what's productive versus what's non-productive. And they kind of blend the two together and what happens is they go into the office and they think they're busy but they're not busy doing what they need to do to survive real estate and make money. This is a big reason why most agents fail in this business. You have to put it in your mind that you have to be a hard worker and that you're going to put your head down and you're not going to follow the pack of all the other new agents who are doing the non-productive activities. You have to be different. A lot about real estate success is differentiating yourself with the other agents. When you're talking to prospects, you want to give them the feeling that you're different than all the other agents. When you're working, you want to work differently than all the other agents because most all the other agents are going to fail and you do not want to fail. Now there's a lot of different avenues to make money in real estate and when you're new in real estate, there's so many different directions. Everybody's trying to pull you in. You got your broker trying to tell you this, your friends trying to tell you that, other new agents trying to tell you this, older experienced agents telling you that. You have Facebook ads with all kinds of the newest, latest and greatest technology that's going to make you a million dollars in your first year in real estate. You have to be very careful what you listen to and the actions that you take and the advice that you take. It would be incredible if you would listen to agents who are where you want to be, right? Like myself. If you want to make a million dollars in real estate, I'm a good person to listen to and to take advice from and to reach out to with questions which you guys can do anytime. So the first thing is you have to understand work ethic is a big part of this game. Tip number two is concentrate on only phone calls. Don't worry about any other source of lead generation. I want you to only focus on making phone calls and having voice to voice contact with as many people as you can. Voice to voice contact is the reason why technology hasn't replaced real estate agents. There has to be that voice to voice contact. There has to be a conversation between buyers and sellers, agents and sellers, agents and buyers. There has to be a conversation before there's a closing. Conversation is the common denominator of all closings. There's not a single closing in history that happened without a conversation in place. So even if it's an internet lead, you have to actually call them and talk to them before you can even think about doing a deal with that person. With no conversation, there's no deal, okay? So if conversation leads to all closings, then ding, ding, ding, we have to have as many conversations as we can to have as many closings as we can. Understand too that closings happen every single day. If you look in your MLS, you'll see that closings are happening every single day with or without you, okay? It's not the market, it's you. You haven't figured out how to be a part of all these closings and I'm telling you it's conversation. Now, who do we have these conversations with and what do we say? Now, I'm not an advocate of for-sell-bounders or expires. I think that that market is too crowded and too high pressure, but I do believe that new agents should explore this for the first 30 to 60 days of their career. I think there's no other way to get the most experience in the least amount of time. Calling for-sell-bounders and expires gives you so much experience because you're calling a live prospect who wants to buy or sell, you get to meet with them, you get to see properties, you might get a listing, you might show some properties. There's so many different things that can happen immediately from for-sell-bounders and expires. But I think you should only work those for the first 30 to 60 days of your career and really work them hard, get your feet wet in the market, understand what is going on and then when you get your feet wet and realize what's going on, understand that for-sell-bounders and expires are not the most efficient way to build your business. What is the most efficient way to build your business? The highest quality prospects in every market is property owners. Property owners buy and sell. A lot of people think of owners as only sellers and only listings, but if you change your mindset around to understanding that property owners are also your best buyers and if you concentrate all your efforts on property owners or your lead source of not only sellers but also buyers, now we're working at a very high efficiency. Efficiency is what we're after. As a single agent who made a million dollars last year, I can tell you that a big part of it is efficiency, knowing what's efficient. There's plenty of different ways to make money and some are better than others. When you realize who the highest quality prospects are and you know exactly how to approach them and you understand that closings happen every day and that business is unlimited, that there's more than enough for every agent out there, more than you can handle, now sky's the limit. So what do we say to these property owners when we're calling them? Most agents are gonna say, hey, have you considered selling your house, right? So we don't wanna sound like every other agent. That's the whole point. That's how we're gonna get ahead of the pack. What we're gonna do is we're gonna say, hey, I don't wanna take up too much of your time today but a house down the road sold and I didn't know if there's anything I could do to help you. And then the conversation's gonna go from there and our goal is is that we wanna collect their contact information, have a great conversation, let them know we're here to help them whether they wanna do a deal today or tomorrow because remember guys, in their mind, they've already decided when they're gonna buy or sell something. You're not going to talk anybody in to buying or selling a house today. Our goal is is to introduce ourself, make our presence known as someone who is professional, caring, genuine, hardworking, dependable, knowledgeable of the market and we wanna stay in touch with them forever for when they decide they wanna buy ourself. A lot of agents can't wrap their head around this philosophy of creating relationships. They feel like it takes too long to get from relationship to transaction but here's the thing, if you're doing the 50 to 60 hours and you're calling the 100 to 200 people a day that I ask you to call, then what happens is something magical. You run into all kinds of people that wanna do deals with you in the future because they like you, right? But you also run into a lot of people who wanna do a deal today because they like you. They've already decided when they're gonna buy or sell something and some of them have decided they're ready now and you just happen to call them right at the right moment to create that relationship to handle that transaction for them. So that brings me to tip number three. You have to think long term and be low pressure. Now there's a lot of training out there that's high pressure, that handles objections so on and so forth. I don't believe that's the best way to start a relationship. I think that calling property owners with the mindset that you're calling them just as if they were friends or family and letting them know that you are here for them when they decide to make the purchase or to sell the property is gonna put you way ahead of everyone else. You're still gonna get the deals today of people that have already decided to buy or sell but you're gonna collect so many people that are gonna work with you later. Whereas if you were trying to handle objections and trying to turn the situation around and trying to force them into doing something that they weren't really ready to do, they're not gonna continue that relationship with you. But if you approach them in an angle of sincerity and show them that you care and that you're gonna work hard for them and that you're not gonna push them and that you're gonna be here when they get ready, those people are gonna come back to you later. And that's where all the money is in real estate. It's the future deals. In my mind, market share is not how many listings you have, how many transactions you did compared to the rest of the market. Market share, in my mind, is what agent has the most real relationships with property owners in the market? Who has the most relationships in place of property owners who know you like you trust you than any other agent? That's who controls the market share because they have all the future business. We trade stocks on future earnings of companies. So I trade market share on future deals of an agent and whatever agent is doing the best job of creating and maintaining lifelong real relationships with property owners has the most market share in place. Tip number four is you can't worry about losing deals. As a new agent, you don't realize that losing deals is a part of this game. When you're new and you're working hard, you're calling people and then you find out somebody you were talking to used another agent on a deal, it really hurts. You really get down on yourself. It kind of is almost depressing because you don't realize that that is part of real estate. You're gonna lose deals all the time. There's no way around it. I've lost many more deals than I've ever closed. And it's just part of the game. You can't beat yourself up about it. So here's two ways to look at losing deals. One, if you lost a deal, then you learned something, right? If you were talking to a property owner and you thought that you had a great communication with them and everything was going great and then they turned around and used another agent, you could look back on that situation and replay everything that went on in your head and try to figure out what you could have done differently. And maybe it was nothing because maybe they already had a relationship in place. And if that's the case, maybe you should have asked them from the beginning, hey, is there an agent in the area that you work with? And then if there is, move on. You don't have to spend any more time on that person which brings me to the second great thing that happens from losing deals is is future time. When you lose a deal, you get all that future time back that you don't have to spend on that deal anymore. Signing the paperwork, showing the property, taking pictures, putting a sign up, lot box, dealing with the showings, negotiating contracts, dealing with title companies, inspectors, appraisals, lenders, all that stuff, you don't have to do anymore on that particular deal. You can take all that future time and this new knowledge you learned and go out there and get five more deals. So let's go over the four keys again. Number one, I want you to understand work ethic is a big part of this business and you need to work 50 to 60 hours in your first year in real estate. Tip number two, concentrate only on phone calls, right? We're gonna concentrate on phone calls and then as we get business from those phone calls, we're gonna go show property, we're gonna go get listings, we're gonna go to appointments, we're gonna do the other things we need to do but any moment that we have a spare chance, we're gonna make phone calls. If we're not doing anything in the morning, we're gonna make phone calls all morning. If we don't have any appointments all day, we're gonna make phone calls all day. If we have appointments all day, we're gonna handle those appointments and then make our phone calls all day the next day but we're gonna stay busy, we're gonna work 50 to 60 hours a week and we're gonna make lots of phone calls. Number three is, is we're gonna think long term and we're gonna be low pressure with everyone. We want them to feel like they can come to us for anything, for any reason and that we're gonna be there for them and they can depend on us. And tip number four is, is absolutely do not worry about losing deals. It happens, it's part of the business, there's nothing you can do about it. Learn from all the losses that you take and understand you get all that future time back to go out there and find five more deals in the same amount of time. So that's my four keys to making $100,000 in your first year in real estate. I hope you got something out of it. I hope you take it and apply it to your business and go out there and make your first $100,000. If you're an experienced agent, I hope you still got something out of it to change your mindset a little bit to help you go to that next level. Click subscribe below, leave a comment, let me know what you thought and reach out to me if there's anything I can do for you.