For an approximate investment of about $1,000.00, you can be in a business which, if you work hard, you can easily make $100,000 in your first year in business. If you don't work hard, you will simply go out of business. It is your choice.
This site will offer to all aspiring real estate agents materials such as books, tapes, and videos necessary for the real estate business. In order for you to make substantial income, you will have to learn various techniques to sell homes, work with sellers, and work with buyers. The more skills you learn, the easier it will be to outwit your competition. In the real estate business, competition among agents is fierce. There are many hungry agents who will do anything to steal your listing or your buyer. But, this applies to any business. You will find enough tools on this site to make it almost impossible for you not to succeed.
When you begin your real estate career, your first step must be to decide what type of real estate will be your specialty: residential, commercial, land, investment properties, etc. Then you need to decide on an area and a price range. You cannot be all over the lot. You need to develop a niche market. This is one of the keys to succeeding in real estate.
John Paul Getty, one of the richest men in the world, when asked what was his secret of success, answered: "If you want to make money, really big money, do what nobody else is doing."
I, personally, specialized in creative financing. It had many advantages. I could make much more money for the sellers than any other agent could. I could get buyers into homes in just a few days and make substantial commissions in days versus doing business like everybody else - the conventional way - waiting for loan approval, paperwork, appraisals, etc. In many cases agents learn that after nurturing the deal for months, their deal is dead because the buyer could not qualify.
Waiting for buyers to qualify can put you out of business in days, especially if you don't have any money in reserve. Depending on the area, economic situation in the country, buyers who must qualify for new loans are subject to many requirements from the lenders, such as, a minumum 2 years in the same line of work, very good credit, no lates in the last 12 months, income and debt ratios, interest rates, etc., etc.
I cannot tell you what niche to enter, but it should be something
that is part of you or your hobbies. Let's say you love to play
golf -- specialize in golf course properties. This way you have
something in common with the seller and the buyer and you are
easily able to build rapport with them. After all, if you don't
know what a fairway is, how are you going to sell the good or
bad points about the home located on the golf course?
If you have a military background, why not specialize in doing
business with the military? If you love the ocean, specialize in
ocean front properties.
If your husband makes substantial income, but you want to have a business of your own, real estate is an excellent choice. In your case, developing a niche in low-end properties would be foolish. You should stay in the price range of your circle of friends and acquaintances.
The second most important key to the real estate business is: "Don't be a whore." Real estate is a commission business. People who cut their commission go out of business first. I can proudly say that I have NEVER taken any residential listing for less than 7% -- in some cases, 8 or 9% -- never 6%, 5% or less. I may be the only agent in the world left with this record.
The third key to being a successful real estate agent is to have a good listing inventory. This business is a inventory business. And if you have no inventory, you have nothing to sell. Therefore, the name of the game is listings, listings, listings. It will be your personality and your persuasive techniques to convince the seller that you are the agent who can do the best job. In many cases, to make the seller the most money in the shortest time possible. If you review the creative financing techniques discussed in our site, Million Dollar Real Estate, it will help you tremendously.
Let's talk about something very important. Many agents and brokers will try to discourage you from doing creative financing. They will tell you it is illegal, you may lose your real estate license, the broker's liability insurance will go sky high --- all this is a bunch of baloney! Remember, your fiduciary duty is to the seller whom you represent and who, in turn, pays the commission. Your job is to sell the property by any legal means. If you don't, you won't make money, and sooner or later the word will spread around that you don't do a good job for sellers.
George Paukert's "Success Book"
My listing presentation book, the "Success Book," should be a tremendous help to you in getting listings. I have included my canned presentation, my most successful ads and mailing pieces -- postcards and letters -- and my own TV commercial with a jingle written just for me.
This book always did the job in getting listings, especially if the seller interviewed several agents. Reason? Most agents do not use a listing presentation book! By using a presentation book, I looked professional and it also kept me focused and on track during the presentation. The "Success Book" works like a charm.
If you are a brand new agent, you may not be able to use
everything in the book immediately as your own. But, you can
substitute office/company listings and information until you
build up enough of your own material. And, when you
purchase the "Success Book," you have my permission to
reproduce any of my material as your own -- just change your
name, company, and phone number and you have a successful
mailing piece.
In my first year in the real estate business, I made over
$3,000,000 in sales. Three times I won the award of "Best New
Agent", was constantly among the Top Ten producers in the
office. And I worked in the largest office (120 agents) of the
largest company (500 agents) in Las Vegas. Our office was one
of the top offices in the country for the Better Homes and
Gardens franchise. Needless to say, it was a highly competitive
office. However, I had the support and encouragement of my
wife, Arlene, who was not licensed at the time, and worked as
my assistant. You may want to work as a team, also.
The "Success Book"
Included are the following chapters:
1. My Family
2. My Resume
3. My Real Estate Education
4. Information About My Company
5. Letters of Recommendation (from sellers, buyers, brokers,
agents)
6. I Know How to Find Buyers for Your Home
7. Expired Listings - Seller's Letter
8. Pictures of Homes I Sold
9. Pictures of a Half-Million Dollar Home and a Million
Dollar Home
10. How I Market Homes
11. New Ideas at Work from "Mr. Real Estate"
12. The Steps in the Selling Process
13. 65 Mile Speed Limit
14. Property Salability Checklist
15. The Steps in Selling Your Home
16. Benefits of Hiring Me to Sell Your Home
17. Seller's Bill of Rights
18. Personal Philosophy
19. "The Dreaded Commission" - If you ever have a need to
defend your commission, it is right there for you. I almost
never had to use it, but it is good to have it -- just in case.
20. Why Selling FSBO is Difficult - Another chapter I very
seldom used, but is there -- just in case.
I also included in the book ideas from various real estate companies,what they pitch, and how. You can use it as it fits your needs. I just took all corporate/franchise names out. Remember, the purpose of the book is to get the listing! In order to do that, you have to convince the seller about your ability to do the job, your honesty and integrity, and your skills in handling the entire home selling process from getting the listing to close of escrow.
Throughout the book I inserted my comments to make you
Number 1!
If you think you are Number 1, you are Number 1!
I am so positive about the "Success Book," that if you leave it with the seller overnight, you will have a listing in the morning. I can almost guarantee it. To prove to you how much I believe in it, I will offer you a 365 day unconditional guarantee for a full refund (less shipping & handling) when the book is returned in salable condition.