Where To Start???
You have got your broker license and you are very exited about starting your real estate career! Yay… So what do you do now? Where do you go? How do you get business? Are you going to be a residential or a commercial broker? Don’t worry, I’m going to break it down for you to decide step by step. Ready?
Here is the most important part you must never forget!!! Whether you are just starting in real estate industry or you are a veteran with many years of experience, whether you are a residential broker or a commercial broker, you won’t make much money if you are not the “LISTING BROKER”, period…
You can of course co-op on other broker’s listings and make little money here and there but the big money is made when you are the listing broker.
Listing broker controls the money and the transaction, period. And the more listing you have the more money you will make in this business.
That being said, real estate is as challenging as it is rewarding. Why?
Challenge : It is a challenge because if you don’t sale a property in real estate business then you don’t make any money. In other words, there is no salary in this industry in general with some exceptions. Therefore, it can take a very long time for a new and an inexperienced broker to see money coming in. Especially, if you need money every week or month to get by then this is not a business for you, or for most people in the same situation for that matter.
Reward : You make your own schedule, you have all the flexibility in the world and you can make a lot of money doing so. Especially if you are a commercial broker! Because commissions are much bigger, even with less percentage charged. Therefore, if you can sell one property a year or one property in even 2 years, you will be doing fine. Here is how:
Selling an average priced $200K residential property takes as much time as selling a commercial one for $10M… The only difference here is; you have to know what you are talking about when you sell that $10M property vs to $200K property. So it’s pretty much knowledge of knowing how to talk to those sophisticated big buyers and sellers compare to everyday consumers. It’s not that hard, believe me!!! It takes little time and effort on your part to familiarize yourself with certain terms used in commercial real estate industry and learn the process analyzing P&L numbers along the way. That’s all…
I know what you are thinking and have a quick question. how do I do that if I’m a newbie in this field? No worries. I will explain that too but first, let’s look at some potential income numbers in both residential and commercial real estate industry…
Let’s talk residential numbers first…
- House Price : $200K
- Commission : 6% = $12K (Total commission collected)
- Co-Op Split : 3% = $6K (You almost always split your commission with co-op broker in residential real estate transactions).
- Company Split : You also split your portion of $6K with your company if you are a sponsored broker. In this case, your split could be 50/50, 60/40, 70/30, 80/20 or 90/10. Let’s say you were 90/10 split with your sponsored company. You would get 90% of $6K which is $5,400 in this case. That’s not bad but not very exciting either. Is it? Unless you sell at least one of these houses every month, it’s not exciting at all…
- Hotel Price : $5M
- Commission : 3% = $150K (Total commission collected)
- Co-Op Split : 1% or nothing (You don’t have to split your commission with any other broker in commercial real estate transactions. But even when you do, you usually pay 1% or less. it doesn’t have to be even split of 50/50 as residential brokers accustom to).
- Company Split : Let’s take the base number of 50/50. Even after paying 1% to a co-op broker and the other half to your own company, you still make 1%. Which is $50,000. Not bad at all. isn’t it?
Guys, it’s not all uncommon to make $100K, $300K or even $500K+ commission in this business on one single deal. But you have to build yourself and your network to do that. So you have to be realistic and think long term in this business to make it. Because nothing happens overnight. Certainly not in the real estate field. Therefore, this is a “Marathon”, not a Sprint…
Don’t fool yourself with those fly by real estate gurus and companies… Don’t even try to get in rehabbing or flipping houses with them, especially when you are a newbie in this industry… Because I have tried them too when I was a newbie. They promise you the blue sky but you can never get hold of them when you need them… They promise you making a lot of money by fixing and flipping houses but they never show you how. They will also never tell you about the real life applications and difficulties… Guess why?
What I am offering here is a very unique opportunity and I hope someone offered me this when I was a newbie. But I also know that this is not for everyone… Here is why?
- I am going to hold your hands all the way to the finish line.
- I am going to show you how to talk and how to walk in this business and close deals.
- I am going to get on conference calls with you and with your potential clients to close the deal for you.
- I am going to give you my million dollar script to make your job easier. Which took me 10+ years to perfect it.
- I am going to share all of my contracts to be utilized by you. By the way, these real estate contracts and fee agreements alone will cost you tens of thousands of dollars just to have them prepared by a real estate attorney…
- I am also going to help you for marketing your properties for sale.
- I am going teach you how to prepare Offering Memorandums for each property you get.
- I am going to put them on our website. Therefore, you don’t need to worry about getting a website, hosting it, managing it and dealing with all the technical stuff yourself.
- I am going to provide digital document service for your clients to sign docs electronically.
- Hell… I am even going to market them to our own buyers in place. These big buyers are priceless to have. Because if they like your property, they will buy it in cash. No one, I mean no one does offer this in the industry…
- You will always have access to me anytime you need me to close your deals for you as part of your training. Now this alone is priceless! Do you know how much those fly by gurus charge you for one on one training? Just to give you and idea. I paid $20,000 in 2006 and I did not even get any help other than books and CDs to listen to. Imagine that for a second…
As you can see, there is a lot to offer on my end. But the question is; are you ready to take on this challenge and reward yourself with very little work on your end???
If you are, then you probably wonder how much it will cost you to have this training, right? Let me put it this way. Nothing is cheap in life, especially a good quality information… As the saying goes, “You get what you pay for”!!! Therefore, I am a firm believer that if something is cheap people don’t value it and ignore it. It must be painful and burn your pocket book enough to realize that it’s worth something.
For example : if you buy a used car for $2,000 then you don’t really care what happens to it. You won’t even care if it had scratches, dings and rust all over it. Why? Because it’s a cheap car and you already expect it to have all those scratches, dings and some rust in your perception. And thus, in your mindset it’s normal for such a cheap car not to be in the perfect condition. You will only drive it temporarily and get rid of it when your circumstances change for the better. Am I right?
Now, on the other hand, you buy a brand new Mercedes Benz. Do you think your mindset will be the same? Of course NOT… First of all, you know you are going to pay $60K – $100K+ for it. Therefore, you expect it to be in perfect condition without any scratches. Why? because you paid dearly for it and you expect it to be perfect. Nothing less is acceptable to you in your perception after paying for such an expensive and classy brand name car.
This is no different guys… Once you learn what I will be teaching you as your personal coach, you will use this information for rest of your life to earn a very good income. One deal alone will pay multiple times cost of lifetime training here. Not to mention, me closing deals for you is icing on top of it…
I know this is not for everyone. Therefore, all I can do is to show you where the “GOLD” is, and how to get it. But in the end you still have to do some digging. Without digging, you will never get to the “GOLD” in the ground. whether it is 5 feet under your feet or 100 feet. It doesn’t make any difference.
Here is my guarantee to you…
If you follow what I am teaching you here step by step, I guarantee that you will have at least 1 multi million dollar listing in first 90 days or sooner. Some of the brokers I have trained had 6+ listings during their first 30 days that they couldn’t even believe themselves. Because they were struggling at their previous companies to get even one single residential listing, let alone to have multiple commercial listings and each one with a multi million dollar price tag. Now, that’s a life changing situation.
Membership Level-1 : $19,995 one time fee with lifetime unlimited support.
Membership Level-2 : $4,995/annually with annual unlimited support.
Membership Level-3 : $495/mo. with monthly unlimited support as long as a member.