Can you start a career in real estate without any money?

Posted by AndrewJohnson on Jan 21, 2014 in Foundation Building, Scheduling, Time Management | No Comments

Well, I did. I was absolutely broke—didn’t have a nickel. Seriously. I was dead broke. Obviously, I don’t suggest it—though it does make for an easy first goal: Money! Sadly, the reality is that many real estate professionals are terrible money managers, notoriously in fact. Now, people don’t know how to manage their money for all sorts of reasons, but that might be another blog (or book). Rest assured, in our business, you can’t mess around—for multiple reasons: our paychecks are directly linked to production; the market we’re in is up and down; we usually don’t pay any withholdings along the way (resulting in a massive check to the IRS in April); and you can often make a lot of money and then no money—requiring a keen eye on personal budgeting and prioritizing.

So there I was, almost a decade ago—broke—and thinking I was going to be a real estate agent (probably should have given it more thought). But then, here I am; I’ll do around 400 transactions this year. And I’ll do them with the same fundamental approach that I began my career with. I listen to people; I look at each contract and tweak, or remove, everything that could become a snag; I communicate with everyone involved, from the start—so we’re all on the same page and there’s no surprises; and I follow through. I’m not in the business of accidental success; you get results through hard work, attention to detail, and proper communication—and, of course, consistency.

This business is already hard enough—don’t make it worse by chugging alongside people who complicate it, or problems that needn’t exist. Be proactive and MAKE this contract work—however you have to—by simplifying it and cleaning up the snags. If you want something done right…well, you know how it goes. And in the end, you’ll be on everyone’s short list to work with.

But you’re still wondering: how did I start with no money? Pretty simple: cheap stuff—free stuff. Back then it was Craigslist, partnerships with local businesses in exchange for referrals, joining local committees (chambers, rotaries, community clubs), church, family/friends, and volunteer work. Car sales guys are always good, too—I’ll send you my referrals if you send me yours. Those things, minus the cost of business cards and travel, were about as cheap and free as I could get. Today, it’s even better: Facebook, Twitter, Linkedin—in addition to various other forms of marketing and communication technology. But the bottom line is pretty black and white: get off your butt and work. Become a problem solver—and start with your own problems. As you go, constantly look for “problems” to solve. Pretty soon, you’ll have the kind of problems that everyone wants (if you know what I mean).

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