The first year is the most difficult in a real estate agents career. You are starting out both LEARNING and DOING the business. And the challenge is to keep the vision and faith strong while you are working in the beginning stage with no income. This is a business based on commissions. And if you sold a house the first day you received your sales license, it would take approximately six weeks before you received your FIRST paycheck!
Starting out you actually have two jobs: Your first job is to create the business, and your second job is to service the business you create. And in the beginning you are learning HOW to do both of these feats at the same time.
It takes skills and courage to start your own business. It also takes some time. That is why you need some residual income available to back you up while you are working to get your business up and running. The turnover rate is about 80 percent mortality for real estate agents in the first 24 months. The reason for this high turnover is usually due to the fact the agent was undercapitalized and unprepared for what to expect in getting started. That is why you need to have all the facts, up front, so you can prepare yourself to get across the bumps in the road, so to speak. (Our turn over is record low.)
Your first six months is usually the most difficult in getting started. One of our agents, for example, who had a good work ethic but no prior sales experience, sold only two houses in her first six months. However, her second six months, she sold 20 houses. And her second year in the business, she sold 40 houses!
That is typical how the business can progress. We are aware of the difficulty of getting this business off the ground. That is why we have made a major commitment to our Coldwell Banker Premier Seven Week Training Program. This training is designed to get you to the high income bottom line quickly!
The national average income in the United States ranges between $12000 to $14,000!
The national average income for a Coldwell Banker real estate agent (over 66,000 agents in the United States) is currently $20,000 to $22,000.
The average income for a real estate agent within our office at Coldwell Banker Premier Group is over $45,000 per year (for all our agents from the end of their first year on). We also have several agents earning in excess of $100,000 per year!
Please Note: The reason for the big differences in these numbers derives from the fact that with the exception of our office, these income numbers includes all part time and no time agents in this industry.
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