How to Make $100,000+ Your First Year as a Real Estate Agent

194 Pages·2004·0.71 MB·English

by  Darryl Davis

DARRYL DAVIS
How to Make
(cid:1)
$100,000 Your
First Year as a
Real Estate Agent
McGraw-Hill
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Copyright © 2007 by Darryl Davis. All rights reserved. Manufactured in the United States of
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DOI: 10.1036/0071437592
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Contents
Acknowledgments v
Introduction vii
1. What It Takes to Succeed as a Real Estate Agent 1
2. Getting Started 19
3. Real Estate Companies: Who’s Who and What’s What 35
4. Choosing the Right Company, with the Right Training,
for You 49
5. Getting Organized 64
6. Prospecting: The Keys to the Kingdom 80
7. Prospecting For Sale By Owners: Dialogues and
Communications That Work 99
8. Alternatives for Listing Leads Other Than For Sale
By Owners: Techniques and Dialogues That Work 117
9. The Listing Conversation 147
10. Your First 90 Days of Success 171
Index 177
iii
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Acknowledgments
First and foremost, I would like to thank all the students I have trained
since 1993. They have not only been an inspiration for me, but
through their trial and tribulations, they have helped me to better
understand the real estate industry from a training standpoint.
To the people at McGraw-Hill who have worked on this project.
Their support and understanding have been incredible; I couldn’t
ask for a better team.
To all those in my office, for they are the backbone of my company.
They help free up my time so that I can work on new programs that
will help others.
To Rob Daniel, my business associate, my second spiritual guide,
my pseudocoach, and, more importantly, my friend.
To Darlene Lyons, who has been such an important person in my life
over these past several years. Thanks for helping me become a better
speaker and a better businessman and for being my spiritual advisor.
To Uncle Jack and Aunt Nancy, who have always supported me in
everything I have done and who continue to support me in everything
I do. I know that no matter what, you both love me, and that gives me
so much energy and life. You have always believed in me, even when
I start to doubt myself. Jack, thanks for stepping in and being my role
model, filling the void of Moe, and for being my consigliere.
To my son, Michael, for becoming such a wonderful young man—
you are truly a gift from God, and I love you with all my heart.
Last, but most certainly not least, to Erica. I know I’ve said it so
many times, but you are the angel in my life, and I love you for all the
support you have given me and for the patience you have shown me.
v
Copyright © 2007 by Darryl Davis. Click here for terms of use.
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Introduction
L
et me congratulate you for investing in this book, How to Make
$100,000(cid:1) Your First Year as a Real Estate Agent. More than likely,
you fall into one of three categories:
(cid:1) You haven’t yet gotten into real estate. You’re thinking about it
and you are wondering, “Is this a good career for me”?
(cid:1) You just got your license and you have no clue what you are
doing or what you need to do. That’s why you bought this book.
(cid:1) You’ve been in real estate for some time but you aren’t yet making
a six-figure income, and you want to.
Wherever you are in your real estate career, I want to acknowledge
you for making this investment.
There’s an old rule of thumb in training that says if you speak or
teach to the lowest denominator, meaning the most inexperienced
person in your audience, then everybody should benefit. With that
in mind, to achieve the best possible result for all readers, I’m going
to communicate with you and cover the basics as if you were unli-
censed and unfamiliar with the intricacies of real estate. For those of
you who don’t fall into that category, please hang in there with me.
I promise you’ll benefit as well.
So in the following pages, I will go over how to get your license,
how to find to find a real estate office, questions to ask when you’re
on the interview, and many other things. Then, I’ll give you specific
tips and techniques for what you need to do to become a success in
real estate.
vii
Copyright © 2007 by Darryl Davis. Click here for terms of use.
viii Introduction
“Success” is a relative term. And the title How to Make $100,000(cid:1)
Your First Year as a Real Estate Agent is really representative of your
market. Depending on where you’re from, making a $50,000
income could be equivalent to somebody in New York who’s mak-
ing $100,000. However, my commitment is to get you to those six
figures, and that’s where I’m coming from.
Before we get started, let me offer you some tips to maximize the
value of this book. First, buy yourself a spiral-bound notebook and
create your own to-do list as you read. When things that I say jump
out at you, jot them down. You never know when you’ll be inspired!
The second tip I’ll offer is, if you haven’t already done so, to pur-
chase my first book, How to Become a Power Agent in Real Estate
(McGraw-Hill). For those of you who have read it, it has a tremendous
amount of information to get you to the next level in your career.
Finally, I encourage you to go to a special Web site I designed for
you, www.NewAgentSuccess.com. At that Web site, you will find a
plethora of items to help you have a successful real estate career.
Many of my students have earned over $100,000 in their first year.
If you follow what I share with you in this book and implement my
recommendations, you can make a six-figure income your first year
as well. But it’s up to you.
And that’s going to bring us to our first chapter. Is real estate for
you? Do you have what it takes to succeed in this business?.