Could age hold me back?

Ah ok if you don't want to leave then you just need some patience. Don't forget your licensee has responsibilities to his existing listing agents and also to ensure that good name that the office has achieved is not undone by letting inexperienced agents who might not be in it for the long haul or just inexperienced out there.
There are many Sales Associates out there who spend their time working their way up to listing agent. Is there one agent in particular that you help or is it anyone in the team? Talk it over with your Licensee and see if you can help multiple Listing Agents if one doesn't have enough work for you.

 

Nathan

When I did my RE course about 5 years back, the stats were that about 90% of new starters don't make it past the two year mark.

The reasons for this were two fold;

1) Finances - most people realise that the career they left offered better / easier money than real estate and they return to it.

2) Burnout - as you eluded to above, it is really easy to work 60 hour weeks, answer your phone all all times day and night etc.

A couple questions for you;

1) Your current employer is preventing you from working any more than a 38hr week. Is it possible that he is trying to show you how you can make a long term career in real estate and avoid being one of the 90% who burnout and leave the industry ?

2) As you would know, real estate really is a 'word of mouth' business. You could almost argue the point that the person who has the most contacts and can leverage off those contacts will do better than the person who knows the market really really well, but has no contacts...

As such, my question to you is this - what are you doing to develop contacts ?

If your boss is only allowing you to work a 38hr week, what are you doing outside of those hours to develop contacts and build your profile? How many mornings are you at a 7am networking breakfast? How many afternoons are you involved in sporting / social activities (Eg. Local soccer club, Wed night bowling night etc)?

One of the greatest aspect of sales, is when it becomes intertwined with your life in such a way that it is no longer a job. Eg. You get to spend your time hanging out with your friends or your friend's friends helping them buy and sell houses...

 

I am currently not allowed to build contacts. I will be involving myself more into community activities in the near future. Currently I have a Facebook, YouTube and LinkedIn account. And when I have spend time I target FSBO as this is all I am allowed to do with this agent.

I get where you're coming from.This agent does 60+ hours a week and his first PA does about the same. So I don't believe thats the reason why I get sent home, and i'm worried of developing a 9-5 attitude and becoming lazy.

 

Sounds like they are using you as open for inspection and lead generation labour, while they take the comms. Are you paid salary, or salary + comms (with or without clawback)?

 

This post reminded me of the early career of someone very close to me who was starting off in RE.
He stared very young. 16 years old. Doing all the things the young people do at agencies. Putting up signs at the front of houses etc. He became very frustrated very early and seemed to switch agencies alot. By the time he was 22-23 he had worked for over 5 agencies and quite frankly wasn't doing too well.
Something was happening though that was very gradual and seemed to come with the few years of working in the industry. This was networking. After 6-7 years he really started to know alot of people in his area and he started to become popular for his selling abilities (that he had acquired and improved over a few years).
When he was about 25 years old he was approached by a very very well known agency known for getting top dollar around the country. He switched over and did very well there. Fast forward 5 years and his patience, experience and very impressive network has helped him to be opening up a franchise of this exclusive brand of RE agency before Christmas.

 

I am not even lead generating and rarely do open inspections. I am basically just doing marketing. I am paid salary.

 

Can you grow a decent beard yet young lad?

 

Great ambition @Nathan Simon. I say go for it. Talent > time.

Own it. Your young, use that to your advantage. You bring freshness, ambition, enthusiasm and a drive that few may be able to match. This can be incredibly energising for both you AND who you deal with.

People are never looking for someone thats a certain age, they're always looking for a skillset that will do the job. Demonstrate that and you'll win them over.

Also think about what people fear. Fear is a common motivator. People will fear you don't have the experience and know how to get it done. Address that head on and then offer something that your competitors don't. E.g. will a 45 year old agent with 3 kids pick up the phone at 11pm? Perhaps you have some unique experience that your competitors don't either.

Also constantly look to learn and learn from others that have greyer hairs than you do. Their experience is great - you can bridge the gap by talking to them, learning from them, etc. Everyone will have something to say/know that can add value to your product/service.

And, don't be afraid to ask for help. Your new, etc, you'll need it as you grow. This part can be difficult for the young, confident and ambitious. If you think you won't need help, then work on appreciating that asking for help is a skill set on its own and can be a sign of strength.

@Bran - what a brilliant post, thanks for sharing. Kudos to you for your successes and ambition. Learning from the best is absolutely imperative. I like to think i rub shoulders with some of the best in the industry (some are right here on this forum IMO!) - it definitely energises me and makes me better at what i do.

 

I'm not in the industry so take my advice with a grain of salt, but if you were to become a listing agent at 18 or 19 years of age then yes, I do believe this would negatively impact you despite your ability. Your ability only becomes relevant once proven and this is only proven either by experience or word of mouth, both of which you haven't been around long enough to have in order to sustain a decent flow of listings/ opportunities. If I were you, I'd be setting up building blocks in both of these areas first before setting out on your own listings / negotiating this kind of set up with an employer.

That aside, let's just say hypothetically you were offered a position where you could list your own homes. What motivations would people have for hiring you? People don't want to hear promises of delivery, they need to see a proven track record in the form of a recommendation or a successful prior experience. Perfect example - If I want to sell a property, odds are I will give the sale to an agent that I have recently bought from or dealt with at an open. My experience with the few younger agents I have dealt with have been mixed but the common thing I have found between them is that they don't have the people skills yet. For example, they text me instead of call me. If I'm the buyer, I need to be chased with more than a text, especially in a buyers' market, which, as an investor, are the only markets I deal in. A text won't cut it. Furthermore, the few younger agents I have dealt with seem to 'big note' themselves too much. They focus more on telling me how good they are rather than how good the property is. "I sold this last week and I sold that last week blah blah blah." Again, as I said, take my advice with a grain of salt, and perhaps you are not like this at all, but bare in mind that these may be some of the views and perceptions that people have of younger agents that will disadvantage you, whether or not you're the same, therefore you need to work for somebody else, and under somebody else, until your reputation PRECEDES you. Not the other way around.

That said, if your employer won't even let you out of the office on an open, then I'd move on. But move on knowing that you're still on the bottom rung. Don't try to grow beyond your ability - enthusiasm is fine, but keep it realistic! Don't assume you know more than the older staff - they are the way they are based on experience and reality, not enthusiasm and dreams.

 

Sounds like you haven't given much thought as to the cost of setting up your business. You will need an office [rent], someone to run it while you are out plus bookkeeper, their wages, insurance, vehicle, software, furniture, telephone system, internet access etc, etc and a lot of time to build up a business.

I doubt you will be able to borrow at your age and you will instantly be liable for all the above

 

I'd say to do what you got to do to get started in your own business which isn't reliant on anybody else.
Then you can really get paid what you're worth, whatever that is.
In the meantime, get the necessary experience required to succeed in your chosen field.
All this frustration is good for you, it should make you even more determined to make it on your own instead of acting under somebody elses rules.
At 18, I'd guess you'd need a few more years of solid experience to be ready, unless you're a super fast and creative learner.

Good luck.

 

@Bran - what a brilliant post, thanks for sharing. Kudos to you for your successes and ambition. Learning from the best is absolutely imperative. I like to think i rub shoulders with some of the best in the industry (some are right here on this forum IMO!) - it definitely energises me and makes me better at what i do.[/QUOTE]


Thanks @Redom. I hope it was clear enough to convey the message.

You give wise advise also - for any career.

@Nathan - there is a common thread in all the responses.

 

At least if you can't sell or don't last more then a year in reality as most do,it will be a experience you can use for the rest of your life,age has nothing to do with the process,in the right location property sells it self,all the agent has to do is be a good listener,good luck..

 

Sorry I did word it wrong. I'm not looking at opening an agency, simply looking to be allowed to list and sell property.

 

This is my issue. I learn very quickly and in a practical way. I am trying not to rush things, but am after a faster pace than snail pace. if you get where i'm coming from.

 

Again, I'm not in real estate - but could it be argued (trying to empathise with your employer here) that it's not necessarily about how fast YOU learn, but how fast the property market moves? For example, if you are a fast operator and feel proficient after 6 months then that means you've only really learned in a small slice of the property cycle - a 6 month random window is hardly indicative of a ten or 15 year cycle. Perhaps your employer isn't holding you back because they don't believe you're competent, but rather that they feel your breadth of experience isn't broad enough simply due to the market forces. It may not be a reflection on you at all, but instead the market - eg if you've only known boom, or only known downturn, then how can you claim proficiency in the other? I wouldn't take it personally - I'd just look at it as their professional judgment has come from somewhere, and it might not be you at all.

 

It's not so much how old you are that can hold you back, but how old (aka experienced) you are perceived to be. That includes your attitude, communication skills, professionalism, etc which all amounts to life experience.

 

I've been going to a lot of opens recently, and it seems like about half of the agents just unlock the house and take your details. You ask them a simple question like what the body corporate cost is, and they just take a guess. Never really ask any questions about what you think of it, what we are looking for etc.

So I say age wouldn't matter at all to me as long as you come across the right way.

 

I've heard some horror stories about agents at open homes lately. One agent decided to sit down and watch the footy during an open hahah ridiculous.

 

Nath. Your young age is just a hurdle that needs to be jumped. With time you will get over it. Most definitely. Don't worry about it.

I've had to get over things such as my socio economic background and my hair. Life does throw curved balls at us.

I also used to hate talking to people with two first names because I'd always be calling them by their surname. I learned to live with the strange looks I'd receive.

It won't be long before you find more success in your job. Just stick to it. Good luck Simon.