EXACTLY How to Make $100,000 A Year As A Real Estate Agent

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If you're truly committed to making a $100,000 a year in real estate, you've come to the right place. I'm going to share with you step-by-step exactly what you need to do day in and day out to earn a $100,000 a year in real estate. So let's get started. Make sure you take notes. If you have any questions, I will answer those in the comments section beneath this video. So I'm going to walk you through this step-by-step. Pay attention, take notes. So first thing we are going to do, here's what we're going to cover in today's video. I'm going to give you a full-blown lead generation strategy. I'm going to show you where to get your leads. And then as promised, I'm going to give you a step-by-step plan to earn a $100,000 in real estate over the next 12 months as a real estate agent.

So let's talk about lead generation. If you are going to earn a $100,000, you must accept today that you are in the lead generation business. Yes, I know you thought you were getting in this business to be a real estate agent, which is true. You thought you were going in this business to be the practitioner. However, if you look at your real estate license, what does it say across? It says, real estate sales person. Your job is to go out in the marketplace and generate leads, without that you don't make any money. So in order to control your income, you'll want to focus all of your time, all of your energy, all of your prospecting efforts on generating listings versus buyers, because you can control how many leads you generate, you can control your time, you can control your income and you can manage a lot more listings than you can working with buyers, working nights and weekends. So you're going to want to have three to five lead sources so that you have plenty of opportunities which I'm going to show you what that looks like here in just a second. So here's a high level overview of what your lead generation strategy is going to look like. We're going to break down each one of these in detail. First, we're going to have your seller lead database. I'll explain to you what that's going to be. Second, you're going to go after what we call direct sellers. Third, you're going to pick a niche or a niche. However, you want to say that. Then we'll build out your referral partner team. And then we'll put in a content strategy. You're going to put all five of these strategies into your business so that you can earn a $100,000 a year in real estate.

So let's talk about the seller lead database first. Your seller lead database is going to consist of these two categories. Your top 100, which is a 100 of your favorite people who would hire you in a second for it to be their real estate agent or, and they would refer you to their friends and family members who also need a real estate agent. Your goal is to get 50% or 50 of these people to send you one referral a year. Now you say, "Brandon, okay, great. Show me how to do that." Here's what you're going to do. You're going to send one video email per week providing valuable content. What is happening in the marketplace specific numbers and what the numbers are, the stats are, what they actually mean. So if you make a video and you send it out to your database like I'm asking you to do, and you're talking about, "Hey, here are the inventory levels. We're under one month's worth of supply." What does that actually mean? You have to provide some context to your audience so you can start becoming the expert in their mind. Number two, you want to make these 100 people part of your overall content strategy, which we'll talk about here in just a few minutes. You're also going to want, the third thing you're going to want to do, is send all 100 of these people what we call the monthly real estate update letter. So all of the students in our coaching program, we give you a template, but it has three parts. We're going to talk about something personal that's happening in your life. Again, these are your top 100 favorite people. And you're talking about the real estate market. Give them the stats of what happened last month. And then you're going to have a call to action at the end of that letter to reach out to you for help or to stay top of mind when it comes to them out there on the streets, looking for opportunities to refer you to people that they know.

The next thing you want to do is put them on what we call your birthday program. So very simple, all 100 people need to get a birthday card with a $1 scratch off lottery ticket and a personal phone call from you every year on their birthday to wish them happy birthday. Next, you're going to call all of your people in your top 100, every 90 days, four times a year. "Well, Brandon, what do I say? I don't want to be the annoying real estate agent calling them and begging them for business." Great. I don't want you to do that either. What I want you to do is pertain the phone call with what is happening according to the year, as it relates to them being a homeowner. Let me give you an example. So if you're going to call at the end of first quarter. So let's just talk about, you got January, February, March. So if you're going to make your calls in March or the beginning of April, well now we're in spring. So what happens? What needs to happen every spring if you own a house? Oh yeah, that's right. You've got spring cleanup. You've got to get the sprinklers turned back on. You probably need to get some, maybe get your ducts cleaned out. This is a great opportunity that when you make the first call of the year, you can refer them to some services in your local market to help get these things done that, oh, by the way, they're doing anyways. That would be an example of a 90 day call. And then lastly, you want to invite these 100 people to your annual client appreciation event. Now, next let's talk about your seller lead database.

So your seller lead database that we talked about, it's going to be your top 100 and then also seller leads. Seller leads that you're going to generate through your prospecting activities that you'll follow up with over time that will turn into listings. So these leads should go on a follow-up plan. And this is what I recommend. All of these seller leads should get a phone call from you every single Monday. They should get a weekly MLS email. So you're going to draw a radius around their neighborhood. And I want you to set them up to get an email automatically from your MLS, with the actives, pendings and solds. Why? Well, when you drive through your neighborhood and you see that for sale sign, what do you think every time? How much is it? I want to see what's inside, how it pertains or relates to my property. And this is what you're going to be emailing these active seller leads every week. The weekly mail box power campaign. So one of the things that we teach students inside of our coaching program is how to use a company called Mailbox Power to set up their seller leads on a weekly automated direct mail drip campaign. You're going to want to get them something in their mailbox once a week in order to increase your seller lead conversion. Next, you want to make sure that you're texting all of your seller leads that are in your seller lead database every single Friday. All right. So now let's talk about direct sellers. So we talked about your database strategy a little bit. Now let's talk about direct sellers. These are sellers that are actively selling their home that you must have as part of your business plan in order to earn a $100,000 a year in real estate. These are the lowest hanging fruit in our industry that you must master. You cannot avoid these. These are for sale by owners, expired listings, new and old, for rent by owners, new and old. I'll show you where you're going to get all these leads in just a second. Next massive, massive, massively important, picking a seller niche. The unfortunate reality is this. Most real estate agents, they don't have a specialty like other professionals. When you look at doctors, when you look at attorneys, CPAs, financial planners, and you look at most other industries, they have a specialty. There's a divorce attorney. There's an orthopedic surgeon. There's a brain surgeon. All of these people have a specialty. Well, the unfortunate reality in real estate, because we haven't picked a niche, we haven't mastered a niche, we're just a generalist. Anybody looking to buy or sell a house, we can help you. And there's nothing wrong with that. But watch the value when you pick a niche. So you should specifically pick a niche, which is part of your business plan, it's part of your five pillars in your lead generation strategy. Your niche is going to allow you to differentiate yourself from other agents and position yourself to get consistent listings from your niche where other agents in the marketplace just simply cannot compete. So let me give you some examples. Absentee owners, working with seniors and getting certified as a senior real estate specialist or your SRS, working with folks going through the divorce process it's a very specific process that you can learn, you can specialize in working with people that get through divorce, because here's what I'll tell you. And I'm going to talk about this again in just a minute. Over 80% of all divorce cases end up with them selling the marital home and more times than not having to buy an additional home. So every divorce case, as an example ends up in a potential three real estate transactions. Probate, talk a lot about probing a luxury as an example. These are just some examples. Okay? So now let's talk about referral partners. So once you've actually picked a niche, you can start building relationships with other professionals who also work in that same niche that will start to send you seller listing referrals on a consistent basis. So let's start off with divorce attorneys. If you start working the divorce attorney niche, what you're going to find is they need great real estate agents that understand the divorce real estate process. If you look at a divorce attorney, who's doing 5, 10, 15, 20 divorce cases per month. Well, over 80% of those have real estate that need to be sold. Right? Well, that's a great opportunity for you to go build a relationship with two, three, four, five divorce attorneys and you'll never not have listings again. Same thing with probate attorneys. Over 80% of probate cases have real estate that need to be sold in order to settle the case. So probate attorneys need not [inaudible 00:11:41] nice to have, they need to have a great real estate agent to refer. Elder care attorneys, same thing. All of these professions, you guys and girls watching this, they need a real estate agent to refer their clients to. Just like a mortgage loan officer needs you the real estate agent to refer them clients, this is the same thing. Just like the title company that needs you to refer your clients to them, this is the same thing.

Assisted living facilities. Most of them people moving into all those assisted living facilities on the corner of every block in every market, across the country, most of them have to sell their property, sell their home in order to fund their stay at assisted living. Great opportunity for you to go and work these sales managers at assisted living facilities to earn referrals. Let's keep going. Financial planners, estate planning attorneys, you get the point. Once you pick a niche you can go out there and start building a referral partner network around your specific niche. The fifth pillar and the lead generation strategy that I'm going to get right into the step-by-step $100,000 a year action plan. So regardless of lead source, you should add everyone on Facebook and on Instagram because your content strategy is designed for you to stay top of mind with all of these people and for you to earn their business and their referrals.

So it doesn't matter if it's a for sale by owner or a friend, they all get added into your social media world. Here's what you're going to do. Number one, you're going to document your day. You're going to make a quick story story on Facebook and Instagram documenting your day every single day, five days a week, every single week. So very simple. If you're writing an offer, tell people, "Hey, I'm writing an offer on a new construction property that just hit the market." Document your day, your people, your SOI, your sphere of influence, your referral partners, people that you want business from, you need to stay top of mind. So when you make a daily story on Instagram or Facebook, they see you, it's like a behind the scenes kind of look into your day and what you're doing as a real estate agent. So make a quick story on Facebook or Instagram. Next, weekly Facebook, Instagram show. So don't get all nervous. Don't get all, "What do you mean show?" Well, what I want you to do once a week, I like to do them on a Wednesday or a Thursday night at 7:00 or 8:00 PM. I want you to pick a topic about real estate, something that's going on right now with real estate. And I want you to talk about it on a Facebook or Instagram live for 20 to 30 minutes. It's simple. Have a couple of bullets, talk through those, people will engage, you're providing value into your audience. It's the law of reciprocity. You're giving value into the audience. And then they in return are going to want to help you then in return they're going to want to do business with you. Next, monthly market video update, post and ad.

So every month what you could be doing is making a short, monthly, real estate market update video, putting that on Facebook, putting that on Instagram and run an ad into your local market. We're getting video views for literally pennies, pennies on Facebook and Instagram right now. So you could take that monthly market video update, put it to the people you know, and then also get people you don't know in your local market to watch your monthly market update videos for pennies, for a couple of dollars you can get it out to thousands of people in your local market. So let's talk about where to get your leads. We highly, highly recommend that you get you all of your leads from a company called Vulcan 7. There's a link in the description beneath this video, where you could try it. You could give them a try for $49. They'll give you I think a couple of weeks to try out their lead generation platform. We love it. They've got the best leads by far. Their CRM database is amazing. They've got the best dialer and they now have a video, email, marketing platform, all in one place. You can have everything in your business in one place. So highly recommend, checkout Vulcan 7.

Now let's talk about how to make a $100,000 a year in real estate. Let's give you the actual action plan. We talked about lead generation. We talked about where to get your leads. Now, what do you have to do in order to make the $100,000. First, let's look at your average price and average commission. For today's training video, we're just going to use an average price of 200,000, 3% commission. That's a $6,000 average commission. Now in order to earn a $100,000 a year in real estate, let's divide that into our average commission. And what you're going to find is that you need to have 17 closed transactions over the next 12 months in order to earn a $100,000. Now let's create the step-by-step action plan. So first I'm going to give you the 12 month plan and then I'll break it down day by day. So you need 17 closings like we just did some simple math. Now, if your prices are higher or lower, you can adjust the plan accordingly. I know some of you watching this, who's going to say, "Well, you didn't take into consideration taxes, my commission split. Take that into consideration." I'm just giving you the math so you can see how the business plan works in order to reach the conversion ratios, you need to earn $100,000. So the first ratio, this is critical. First ratio is you should build your plan on a 50% list to close ratio. Not every single listing or every buyer for that matter that you get under contract track is going to make it to the closing table.

I think it's totally reasonable and safe to say that that number is going to be 50%. If it's higher, great, prove it. Prove it to yourself in a business plan. But for now, build a plan on 50%. All right. So that means you're going to need 34 listings taken in order to close 17. Hopefully that makes sense. Next, the next question we need to ask ourselves is, "How many listing appointments do I need to go on in order for me to get 34 listings?" You got to go on appointments, meet with sellers to actually get the listing. Well, I believe this is also a 50% conversion ratio. Now, if yours is better, great, but I think the average is 50% for every 10 listing appointments most agents go on until you build your skills, you should expect to get five listing contracts signed. So this means you're going to need to go on 68 listing appointments over the next 12 months to earn a $100,000. Well, the next question we got to keep asking ourselves is, "Okay, if we're working the numbers backwards, how many people do I need to talk to over the course of a year in order to set 68 listing appointments?" This is where I talk a lot about sales skills. So on average, again, this is an average. Your numbers, I hope get better than this over time. But on average, what I've seen coaching real estate agents is it takes about 100 actual conversations with actual homeowners thinking about selling their home to set one listing appointment where you're going there to interview for the job to get a contract signed. This is what we're talking about. We're not talking about preview appointments. We're talking about listing appointments. So over the course of a year, if it's one out of 100 means you need 68 contacts over the course of a year to get your 68 listing appointments. On average is going to be about 10 contacts per hour if you're on the dialer, if you're on a lead generation system like Vulcan 7, which then suggests 680 hours of actual work. The actual work in real estate, people, is prospecting lead generation. That's the business that we are in. So 680 hours of work over the course of years. So let's break this down to see what you need to do day-by-day. So this is the daily action plan. So we take the 6,800 conversations that we need. We break this up into an average 240 working day year, which is how you should build your business plan. Breaks down to only 28 conversations a day. So you have this big goal. You want to make a $100,000 a year in real estate. That means you need to have 28 conversations a day. So 28 contacts or conversations divided by 10 contacts per hour if you're staying focused and disciplined during your call blocks, that's only three hours a day of actual work.

This is the only business that I know of that working three hours a day you can earn a six figure income. It's amazing. You can absolutely do this. So if you want help executing on this plan, I've included a link beneath this video to schedule a one-on-one coaching consultation to learn exactly what working with me looks like so that we can help you accomplish your income goals, help you become the most successful real estate agent that you can be. And I'll look forward to hearing from you. So click the link beneath this video. We'll look forward to jumping on a quick call. We'll explain how our coaching program works, how we get you lifetime access to my mentorship. And then at the end of the call, you can simply decide if working together makes sense or not. Hopefully you guys got value from today's video and I'll plan on seeing you guys in the next one very soon.

Meet Your Mentor:
Brandon Mulrenin
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Brandon Mulrenin

Brandon Mulrenin, founder and CEO of reverseselling.com has dedicated his life’s work to the study of human behavior and communication.

He began his sales career in the mortgage industry as a mortgage loan officer with Quicken Loans in Detroit. He worked his way up the corporate ladder to become the AVP of Quicken Loans’ preferred real estate partner, Rocket Homes, formerly, In-House Realty.

Brandon then decided to go out on his own and built his real estate sales business to the point where he was listing and selling over 100 homes a year with one assistant and one buyers agent. Brandon’s success was quickly recognized as he awarded the #1 listing agent for Keller Williams Premier in 2014. It was during this time that Brandon began to train other real estate agents all over the world with his reverse selling system.

Then in 2018, Brandon launched his own independent real estate brokerage firm in Metro Detroit, Michigan which has quickly become one of the fastest growing real estate companies in the entire state.

Brandon is now the managing CEO of four entities: Brookstone Realtors, National Mortgage Funding, Maximus Title Agency, and reverseselling.com

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