Ep. 1 - Don't Do It
In our inaugural episode of Rookie Real Estate, Kenny Stephens covers why 90% of agents that go into real estate never become successful. Don't get trapped in the 90%. Listen to this episode and transition into real estate that will put you at the top 10% of the list and better your best.
Hello my friends, Kenny Stephens here and welcome to Rookie Real Estate, where your road to success begins right here, right now!
Whether you are looking to transition from your day-job to your dream-job or you are on the road to your first 50 transactions….. Success is in the details my friends and we are going to unpack the fundamental principles required for you to thrive! Are you ready? Let’s do this!
Do you mind if I call you friends? Good. Because friends don’t let friends do dumb stuff.
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I once heard a Real Estate Coach say “there are over 200 Million people on the Internet at any given time and over half of them are looking at something related to Real Estate!
Now listen, I’m not a secrete agent and I’ve never met a stranger….. I’ve personally spoken to hundreds of people about about real estate myself…. and when somebody ask me what I do, I can always tell if they too dreamed about Real Estate, because their eyes gloss over as they recall the memory…..
In all of our history as America, Real Estate has alway been the fastest way to become a Millionaire. Why wouldn’t people dream about it?
I tell people all the time:
“This is the best job in the world, but man, is it HARD and a beast to break into”!
1.) It will eat your lunch!
2.) There are times you will work countless hours and have nothing to show for it.
3.)You will unlock the door on thousands of houses but only sell a small percentage of them.
4.)Your vehicle will pass everything but a gas station.
5.)You will ask for tires and brakes for Christmas AND Birthday,
6.)You now have to pay your own taxes, quarterly
7.) You will become insurance broke
8.) People will not respect your time or schedule
9.) You might be called a liar
10.) People may yell at you and make you so mad you could cry, worse yet… you might make somebody cry.
11.) Be prepared to be second guessed and lied to repeatedly
12.) Your friends will likely avoid you like the plague because the KNOW you have no idea what you are doing!
13.) You will swear that some of your clients are psychopaths
14.) Plan to be audited by the IRS
15.) Not every home you put on the market will sell…..
16.) You must be an expert at regulating emotions, your own, your clients and sometimes the agent on the other side of the transaction!
17.) You will be expected to read your client’s minds
18.) You will work while on vacation.
19.) People will ask for your advise even though they didn’t hire YOU.
20.) You will pay thousands of dollars before you ever get a chance to make a dime.
Did I mention that this profession is HARD? That’s just a short list of 20 reasons why I’ve labeled this episode “Don’t do it”
Yep, the guy launching a Rookie Real Estate Podcast, just said you probably should not do real estate! Brilliant!
I think we all can agree that a new workout is hard, right?
You know that feeling you get when you start back at the gym? You can’t move, everything hurts, by dinner time your arms are jello and by the next morning you feel like you’ve been ran over by a MACK truck!
Real Estate is that kind of Hard!
It’s a shock to your system, your body and mind aren’t used to that level of strain.
Now, take that intense and sometimes painful shock to your system and imagine it lasting 3 months!
3 MONTHS! This is why they say 9 out-of 10 new agents don’t survive their first year!
Never, ever call me or email me and accuse me of not telling you that this profession isn’t hard.
Now, stick with me on this analogy for a minute……
What happens when you wake up sore the next morning and you make the CHOICE to get out of bed anyway? You my friend, just pushed past the crowd! You mustarded up the intestinal fortitude to win!
I’m not saying DON’T DO IT, because I don’t want the competition. My mentor is a BILLION Dollar Agent and he told me a long time ago, Real Estate is a large pie with lots of slices and enough to go around.
9 out of 10 people don’t survive their first year because they have no idea what they are getting themselves into. My wife was already a full-time real estate agent, which meant BOTH of us were fixing to be working on 100% commission! I had a 5 year old and a newborn! Failure was not an option! We had to figure out WHY 9 out-of 10 were not surviving their first year.
Here are a few things we figured out:
** People are rarely financially prepared for the transition:
a.) can’t survive a week w/o a paycheck, much less 3-6 months w/o paycheck
1.) Don’t have a personal budget
2.) Don’t know how to create a business budget
b.) Licensing process is $3K-$5K(depending on your state)
c.) Desperation stinks!
d.) Force deals that aren’t in the client’s best interest
e.) You are risking your own family and home if you launch without a plan and I see people do it everyday.
** I Saved 1 year of my Police Salary so I could launch
(18 transaction in first 6 months)
Part-time vs. Full-time: In my humble opinion, there is no such thing as a part-time agent. You may call yourself part-time and you may still carry your day-job but if you are going to thrive in Real Estate, you will be working full-time.
*** Describe process of becoming a Police Officer(13 years)
a.) year long application process to get into academy
b.) 22 week academy
c.) 6 months FTO
d.) 1 year probation period
*** Describe Real Estate
a.) 2 Weeks worth of classes in most states
b.) State test
c.) hang your license with a broker and you’re ready to sell real estate.
d.) No required real-life training
e.) No continuing education other than whats required
a.) No baby sitter
b.) Nobody cares if you fail
c.) Not punching a clock
If you have any questions or feedback, we would love to answer your questions as apart of the show. If you are using the Anchor App, you can record your voice and ask your question straight in the app.
Look, I’m only scratching the surface here! If you are still listening, that gives me hope. As I said in the opening jam session, this podcast exist to give you the tools necessary for you to thrive. To teach you what is necessary for you to not only survive but to thrive. Don’t do this if you just plan to settle for average!!! You will starve to death if being “average” is your goal!
I’ll walk you through the step necessary to transition successfully and get you through your first 50 transactions. This isn’t my first rodeo my friends. I interview, recruit, train and mentor people everyday in this business. Walk with them through the absolute hardest times. I still sell real estate! I get up every morning and make my calls, I do listing appointments weekly, I manage deals daily…. I’m in the thick of it.
Across the podcast world you will hear “coaches” telling you what to do. Some have never been an agent and those that have, it’s been decades since they sold a house. This is my world. I’m working this podcast into my weekly routine. You are getting real life, up-to-date, relevant information…. right here.
At some point after you launch, you struggle through the massive learning curve, you get through a few deals and can see how the entire process works and THEN, one day…. it clicks. You wake up and realize, this is the best job in the world!
I want to hear YOUR STORY. Your success and failures will fuel this podcast. Your journey will prepare the dad who HATES his job but has 4 kids, w/a stay-at-home wife….. find a way to transition. Your story could help the single mom, barely surviving, fighting to put food on the table…. to find a way!
Please share! I want to celebrate with you. I want you to be where I’m at today! After the first couple of HARD years, you survive and realize, Real Estate is bigger than YOU. It’s an industry providing a pathway to the American Dream. We live in a Country where you can own a piece of dirt, build a home on it and call it YOURS! That’s the American Dream! WE get to help families fulfill their dreams of homeownership.
RATE AND REVIEW
Also, please leave a review and rating. That will really help this show. So right after this episode ends, please rate and review this podcast and that will really help us out.
I just don’t want this to be a nightmare. If you are still listening, let’s do this right! Let’s do this together! I want you calling me when you complete your 50th transaction and SCREAM on this podcast for all others listening….. to inspire them to keep fighting. Not to give up. It’s possible! Together we will THRIVE!
*** UNTIL NEXT TIME MY FRIENDS, go kill something and drag it home. I’ll be back next week to talk about your WHY.
Now, go… better your best! I’ll see you next Monday!
Rookie Real Estate is produced and edited by Scott Parker. All of the content is written by me, your host, Kenny Stephens. We are brought to you by DeSelms Real Estate in Franklin, TN.