Thanks Everyone for your input, comments, and suggestions:-)

Wilson

OK - you need to know YOUR market. In my market I can think of not ONE person who has cracked $100k in less than about 7 years. I'm in my 5th year and GROSSED roughly $70k during the last fiscal year. In NY that's not a lot of money. There are probably about 3-4 others who in their 4th year did the same or somewhat better last year - but hundreds tried.

Now, my neck of the woods is so fiercely competative that Manhattan agents try it here and go back to Manhattan - so this might be the exception. But earning $100k in your first year would be a fantasy in this location.

In reference to the original question, I think it all depends on the agent. Experienced agents still quit in this market all the time because they cannot get it done for a variety of reasons. So, it really depends on the agent. Newer agents will have a tougher time no doubt, but one never knows... Perhaps that new agent has a large following of friends who are looking to buy!

We had one like that in our office. Of course, the people who still called for her months later were bill collectors.

My first two years I had about 4 deals per year, but I was with a smaller agency and didn't get much training. I'm doing much better now with some experience under my belt and recently I joined a new office. I made the move for a better commission split, but more importantly the weekly training and coaching classes they provide. My new local broker is a national real estate coach (lucky me)!

As others have mentioned, I agree that the location of the market is a big factor. Boston has some affluent areas with high median prices even in this market and 3% commissions are out there. I don't know Los Angeles very well, but if you could list some movie star's homes you could probably do really well!

Seriously though, if you decide to get into the business, be realistic the first year and try to partner up with an agency that offers lots of training and mentoring programs. Also, keep in mind that it takes time to fill your pipeline and to get established.

Thanks so very much [b]AmberEyez[/b], [b]RallyRE[/b], [b]LizL[/b], and [b]Chris Lefebvre[/b] for your help, comments, and additional suggestions:-)

Thanks so very, very much you all!

Wilson : - )

It can be done. My first full year of Real Estate, I made 102K. You just have to be hungry and not be afraid of rejection or let it stop you.

I think it's wrong to assume that just because someone hasn't been in the office in three weeks, they aren't working. I do all of my work from home and only go in the office to pick up my checks and drop off paperwork - and I'm a full-time agent.

Cchamberland, can you elaborate a bit on your reply? Do you work for a company or are you self-employed as a Real Estate agent?

Wilson

all real estate agents are self employed - we are independent contractors.

Well, I'm sure that "many" of their agents ARE earning over $100K. In Los Angeles that's not hard to imagine. Real estate, like any business, is about getting customers. Do you have a large social network to tap? If not, I'd be asking Coldwell Banker what resources and/training they provide in this regard.

Thanks [b]Perky Realtor[/b], I appreciate your answer.

Thank you very much Amasters. If I end up becoming a Real Estate, I will be starting at ground zero. I do not have a network to tap into. [b]FROWN!!![/b] Yet when I go out to a few of the real estate offices for their recruitment events, I will be sure to inquire about what resources and training they provide.

Wilson

Good luck, Wilson. Please keep in touch!

Would a better question be, can I sell X number of houses as a brand new agent?
Average home prices vary greatly. Average home prices in North Jersey area are >$500k compared to <$200k nationwide.

Wilson- you can do it...It doesn't matter what everyone else has done, what the averages are, etc. etc... Here is what I have found is important-
Do a check up from the neck up- ask yourself-

Are you less likely to fear failure than the average person?

Do you take the easy path or do you face things head on?

Will you ask advice and questions from successful people and learn from them, or pose like you know everything because of your Ego?

Do you dwell on how things can go wrong, or do you think of how to improve and succeed?

Are you a problem solver, can you bounce back from adversity?

Did I make 100k my first year - it doesn't really matter.