As most of you read in a previous thread/post of mine, I'm an aspiring agent in Canada that is almost done my six month course and will be writing my exam at the end of the summer.

Last night, my professor (who is a very successful real estate broker) said that the key is to get to five years as a real estate agent (with the first year being the toughest) and after the five years your in "cruise control".

Would you guys agree with this?

Please discuss...

Someone told me that it will take at least 2 years to find out whether or not you are good enough to make a living in Real Estate and then 5 years to ascertain whether you ENJOY it ? Around here, most aspirants drop out after 6 to 9 months.

I doubt that anyone in this profession has found it to be equipped with Cruise Control or any kind of Auto-Pilot button. After 18 years, I know I still have to Hustle.

This is definitely not an area for those requiring immediate gratification. It's all deferred . . . . maybe I'll get mine after 20 years ?

I'd agree. the first year is the toughest.

2nd year was easier.

3rd year- Im doing ok, I stay busy, better than alot of agents. I'm in my third year though.

Cruise control by 5 years- I doubt it. 20 years- I doubt it. There are to many equations for that. Sure your process can be the same, but then you look at is it working. Should I change it. Your plan should be a living thing. Its a baby, it needs to grow, change, plan. There is no formula.

Statistically after 5 years you are a success. Same holds true with marriages as well. Put a marriage on cruise control, watch it crash and burn. Same with a real estate career.

I am just completing my 7th year and looking for to the next seven.

My first 2-3 years were a learning process and I kept very busy selling mostly new construction. Years 4-6 were riding the wave of lots of sales and years 6-7 were an eye opener and definately not heading into cruise control. Over the past year I have learned to reinvent myself and adapt to the changing market conditions. I no longer focus on new construction, but am now focusing on the REO market and feel I am rounding out my knowledge and skills. I plan to be in the career for many years and actively pursue designations and have my broker's license.


It's what I love about the real estate, it is always challenging and there are so many avenues to pursue.

The people who hit "cruise control" are the people who are hurting now with lower sales.

Splain this to me, Lucy - I'm selling more real estate right now than agents who have been in the business longer than I've been alive, or who've been in the business for at least 10 years. Okay, we can understand why I'm doing better than the dinosaurs, but there are more than a few agents with way more experience than me who are tending bar to make money.

Am I rich? Hell no. Am I working my a$$ off? You betcha. Anyone who says this business is easy is lying. It may be easy during boom times when there are more buyers than sellers but not now.

I'd ask your "successful" real estate broker professor how his "cruise control" works. Maybe if you're a broker with a bunch of kick-a$$ agents working for you - yeah I can see that. Or maybe if you have a competent assistant or two - they're doing the work while you think you're in "cruise control..."

I am too much of a megalomaniac to go into cruise control. LOL

A Friend/Competitor of mine from one of those "Franchisee Firms" (who I still respect) told me once that YOU DON'T GET INTO REAL ESTATE; but rather REAL ESTATE GETS INTO YOU ! That's what they mean when they say if you ENJOY what you do, you'll never have to WORK a day in your life !

He said he could tell within 3 to 4 months if a New Agent had caught "The Bug" and was going to thrive on the excitement and uncertainty of this business or wither in the face of the frustrations that are inherent in this realm where we mix human frailties with making decisions involving big money.

Some never fall in love with the business but still stick it out and are destined to become miserable old cusses.

Don't know how you could ever be on cruise control in this profession. This business is harder than it looks, so I think you have to really enjoy it. Talk about ups and downs!

OK Gang, Here it is. REAL ESTATE is a BUSINESS. Any Business that has ever made it over time, did NOT do it by putting their Business on Auto Pilot. Do you think Donald Trump sat down after his first million and quit??? If you will put together a system that generates Listing and Buyer leads, buld on that and have it set up where assistants can take care of this when you get 2 busy. Then add buyers agent and listing specialist etc. Then you can phase your self out to a owner president of your business. NEVER assume your customers are yours. I get them solid clients all the time. And if you can't handle that, there's always Beauty College! Never quit...BigC

Unless cruise control means that the systems are already in place, there is a certain level of expectations from doing certain activities. In some ways, cruise control to me could mean stability. I think in this market, it's possible.

Hm I would say but you need to watch the road pretty carefully.

Probably the broker was reffering to the refferal graph.

There is a statistical proven graph that goes like this:

Years 1 and 2 usually is 80 percent new business and 20 percent refferal.

Years 3 and 4 is 50 percent new business and 50 percent refferal.

Years 5 and 6 is 80 percent refferal and 20 percent new bsuiness.

So if you make it a certain amount of time doing the right things the refferals will start to happen.


Of course there are exceptions to this.People that don't apply themselves and people that already have a strong sphere from another career can take longer to grow there business or a shorter amount of time.


Real estate is so vast and residential is such a small part of it. I think brokers make a huge mistake with agents. The question should be do you enjoy real estate?? If that's a yes they just haven't found the niche that excites that agent yet. The broker might not offer that so the agent might need to go elsewhere to find there path. If the agent is trying it for the money and doesn't like r.e. then they need to leave the field.

Well, if that's what the broker/teacher meant then he didn't communicate it clearly, or else this original poster didn't communicate it clearly because I got the impression of "cruise control" meaning: sit back, relax, it's all smooth sailing from here.

I actually agree somewhat with the OP's broker. My first three years I worked incredibly hard. 60-80 hours a week, worked from vacation, pulled all-nighters on a regular basis. Why? Because everything I did took a long time since I didn't know how to do it yet. In other words, I spent the first years of my career doing two things... creating my systems and building my database.

And yes, indeed, exactly at five years, everything fell into place and my 60+ hour workweeks dropped to no more than 30. I could do a CMA in 30 minutes, instead of 5 hours. I had automated checklists for new listings and pending sales. My SOI delivered business to my door without any effort on my part, so I didn't have to prospect (at all).

And frankly, I got bored and restless. There were literally some weeks where I didn't even work 15 hours and was making plenty of money. Is that a good thing? Probably, but it's easy to get distracted from your business when it takes so little time!

Jennifer, up early huh? Maybe my post wasn't very clear. Build your Real Estate Business (If you love it) like a business, one block at a time. Bring the people on to help you when you find your self being pulled in 10 different directions. I personally still do my own prospecting techniques myself. I do the part I love and let other people handle the things I call work, Closing docs, talking w/lawyers, bankers etc. Thats the key. After time set your self up to do what you love and it will not be work. I do agree there is no auto-pilot, you still have to land the plane your self. Ya'll have a great profit day! BigC

What I he meant by "cruise control" is that after five years, you will know enough people and enough people will know you for your business to thrive!

Basically, work your behind off for the first four years and when the fifth year hits, your going to be making money in the business.

My goal is to work hard and be successful in the market for years to come, I don't want to get into real estate for a few years, I want to be in it thirty years from now so that I can still sell and build my business around the cities I was born in and grew up in as a youngster.

Okay, maybe we misunderstood what "cruise control" meant in your post.

I took it to mean "Okay, time to sit back and relax and let all the money roll in..."

No, it's never like that. Not even if your working a 9 to 5 job!

You'd be amazed at how many people think it's like that! LOL

If you Really, Really work your Butt off...You'll be making money your first year. Average agents start making a little money after years, but 2 slow months and their living off of Credit Cards. Get after it like your very life depends on it and you'll smoke 95% of the agents in your area. Good Luck

Thanks!

This is year #8 for me and while I consider my sales for the first year moderately successful (2.5m)it was year #4 before things really started to fall into place. The client referrals and past client move ups are absolutely a wonderful thing. I have saw many Realtors with 1-3 years under their belt leave the business lately but very few with 4+.

Yup - I saw an old family friend at the store the other day. He said "oh are you off because of the Teacher inservice thing?" I said "I'm not a teacher anymore." He said "you're not?" I said "no, I am a Real Estate Agent now"

His reply: "oh, so now you have EVERYDAY off!"

Sad, huh?

I wanted to say "Do you have any idea how many hours I spend each day trying to keep my head above water and learn this business well? Do you have any idea how much money I have spent getting started? Do you have any idea how much training I've been to, how much I have scheduled and that I've already attended 2 meetings today?"

But I didn't - I just laughed at his "joke" and told him to call me if he needed any RE help - since I obviously had plenty of spare time! LOL

It makes sense. A lot of agents go out of the gate full steam, many are high producers because of contacts, but then slow down. In any freelance business, you spend at least 5 years getting a base. I see many long time agents doing very well with repeat business and referrels.

well I am hoping with the help of this board....jennifers work..and reading all I can about this business of real estate that I can thwart the curve a bit and not work quite so hard...but then again.....if you love what you do....is it really work..

I am just about to start this roller coaster .....getting my license active finally and getting with a broker this next week, and i am hoping that my first year is as painless as possible and maybe I will be rookie of the year like Jennifer and others

Right now all the things that realtors do dont really seem like work after I have been in the restaurant business for the better part of 15 years,any amount of hours I put in will seem like a hobby that I get paid for rather than a job per say......

sorry for the long post all......just my thoughts...

This post reminds me of this story:

"While patiently awaiting a job interview in an established real estate firm, an applicant was approached by one of the senior associates who politely commented, "I understand you are applying for a sales position with our company. Why, may I ask, do you want to sell real estate?"
Shrugging a shoulder, the applicant replied,

"Well, I just thought I would try it for a while."

To that the seasoned 'Pro' responded. "You know, I would like to tell you something right now that I have learned the hard way....you don't try real estate....REAL ESTATE TRIES YOU!"

Your time line would have to be similar to anything you apply yourself to. Look at it like your apprenticeship to real estate success.

my first deal was a buyer... on my dining room floor and table i laid out every page of the offer to make sure that it was all complete and put into order as i wanted it to be presented. i swear that i had printed that thing out at least 3 times and spent at least 4 hours getting it ready.

i can now do an offer or a listing agreement in my sleep! no, not because i am complacent. i can do this stuff really fast and thoroughly because i do it every day!

when i think cruise control, i dont ever want that. i love the challenges that i face on a daily basis. i love the implementation of my systems to make my business grow.

the beauty is that at the end of the day, you and you alone are responsible for your success or failure, there is no one to blame but yourself. i dont like to fail so that leaves success as my only option.


if you love what you, you will become great at it and there wont be any competition for you.
if you love what you do, you wont worry about failure, but you will think "what do i need to do to go to the next level"
if you love what you do, it wont feel like work.

re is not a get rich quick scheme like some people think it is, but a business. the odds are against you from day 1. do you want to succeed? if you do, you can. you must work for it.


somewhere i read a quote and i dont know who it came from, but it went something like this.. "do what others won't to achieve what others cant"...you have that opportunity in this business

Tycoon: - I doubt very much that Cruise Control" will cut it. Consider, if you will, one way to survive and thrive in the real estate profession.

After 25 years in the business, I may not have seen it all, but I have seen a good portion of the business. I have seen agents who earned big commission cheques of a regular basis, but still lived from pay cheque to pay cheque as the more they earned, the more they would spend, leading me to believe that it isn’t what you earn, but what you saved that really counts.

Savings provide you with the necessary capital for "income earning investments", together with your increasing knowledge of the real estate business in general, giving you the ability to recognize "true investment opportunities", as well as the ability to reduce your risks in connection therewith.

No one plans to fail, they just failed to plan.

The “plan” in this instance, is to make your investment capital work for you. After a period of time you will have two incomes, one being your investment income to tide you over during the rough times, as well as providing for your retirement and your employment income which during the good times will aid you in adding to your capital investments.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information

I have to agree with your broker in essence - I've told people that at the 5 year mark I hit my stride, which means basically the same thing. Not that you're not still working hard, but you look back and realize that all of your clients are repeat business or referrals, and that when you think the phone hasn't rung in a while it suddenly does and you get a few new deals in your pipeline. You've built up momentum and it takes less effort to get carried along.

That being said, I marketed consistently to my client base for much of that time (more so during the later years), and I still tended to put in long hours many times, especially when the market was hot and I was working with buyers. No complaints though, when you reach that point you find that your previous efforts have really paid off.

Best wishes!
Irene Dorang
www.ToolsForRealEstate.com