6 figures in Real Estate | How Long It Takes



what's up everybody it's chasing J miles the real estate entrepreneur and I am here with another video and I want to talk to you about how long it actually takes to make a hundred thousand dollars in real estate I know it's a big goal of people to make that kind of money to make six figures and so I want to just so I don't give anybody false hope I want to really break down how long it's it can take you to make $100,000 or to make six figures in real estate nothing about the real estate career is a get-rich-quick scheme there's no real shortcuts and so it's important for me to make sure that I'm setting the right expectations so that you can understand what to expect when you actually get into the real estate industry and you start to strive for $100,000 now me personally I made my I had my first six-figure year when I was probably around two and a half years in the business so it did take me a little while and that's simply because I didn't know exactly what to do I have moved around with brokerages and you know just kind of did some things that I really didn't have to do because I didn't necessarily know the right way to go for this video I'm not going to tell you exactly how to do it because I've already recorded a video telling you how to make a hundred thousand dollars in real estate and you can watch that video I will link it in the cards and in the description for you to go back and watch that video so you can know the actual plan on how to do it but this video is going to specifically talk about how long it's going to take and how long it can take to make six figures or to make a hundred thousand dollars as a real estate agent if this is your first time watching one of my videos or you're new to my channel welcome again my name is Jason J miles and I am known as the real estate entrepreneur I am a real estate agent in Dallas Texas and I have been in a business for years now and have sold millions and millions of dollars worth of real estate every single year and what I like to do on my channel is give back to my real estate community I like to set the right expectations I like to tell you what you can expect in this industry how to do certain things and give you an inside look into my business so I have blog videos out there I have tutorials all kinds of stuff you name it if it looks like I'm a little sweaty right now it's because it is like burning up in my office right now you can see I have my jacket behind me I don't even have it on I'm not sure if y'all have been watching the news but it's so hot here in Texas like it's been over 100 degrees every single day and I'm on the fifth floor and so it's like the Sun it's just it's it's burning high and so I'm gonna try to make this video pretty short just so I don't you know sweat all over the place and so again please subscribe to my channel give me a thumbs up I really appreciate it over these content like this all the time and yeah I hope you enjoy this one so let's talk about how to make or how long it's gonna take to make a hundred thousand dollars in real estate now the first thing that I want to talk about with this is what's known as client acquisition and so that basically means how long it's going to take you to get a client I am not sure how big your database is or how many people that you've helped but there is a little ramp up period to when you actually get a client we do things like prospecting we do marketing we do all that type of stuff and just because you put out a marketing piece today doesn't mean hours later your phone is going to start ringing and so it's pretty typical for you to have to make you know eight nine phone calls for you to have to continuously farm an area from a building and so that client acquisition time is typically the longest amount of time for you to get a deal done and so I say that from client acquisition it's typically around 60 days so 60 days from when someone first season email from you or first receives a call from you for them to say yes we're ready to start working most people start reaching out to a real estate agent two months two to three months before they're actually ready to buy or ready to start looking and so that's to be expected any call that you receive today they may not be ready to go out for a couple of months they may not be ready to write a contract for a couple of months and so I just want you to think and like I tell people this all the time the actions that you take today you can expect the results from that action two to three months down the line so sixty days from now it is going to be that client acquisition time so we're already sixty days out from step one secondly it's going to be the time for you to go under contract and actually close so once you've acquired the client I say if you're if you're working with a buyer or a seller depending on your actual market it's probably going to take around 15 days before you get them under contract so if you're showing buyers properties you're looking at around two weeks or so before you're getting them under contract and once you get them under contract then you're looking at 30 to 45 days for it closing from that client acquisition point to actually closing you're looking at around four months or so now typically this is going to be a rolling thing so let's just say I get a client today then I get another one tomorrow and then I get another one next week you know it's gonna be a rolling ongoing thing but you're looking at around four months from that first acquisition to you getting a check from whatever you're doing with them so the next thing that you want to think of is how many transactions it's going to take for you to hit that six-figure mark so I want to use the example of a market that has homes for sale in the average price point is 300,000 with that being said you're looking at around eleven to twelve transactions for you to reach that hundred thousand dollar Commission now that's using a price point of $300,000 what you can do about that though I mean if you don't want to do 11 deals which I always recommend you know you do more deals because that gives you more people to market to it gives you more referral sources all those good things you can always raise your price point so if you're working with million-dollar properties so properties a million dollars and up you're looking at needing only four deals to hit six figures and so you can space that out however you you want to but I would say general rule of thumb is you want to make sure that you're consistently closing at least at least one deal per month at that $300,000 and a price point if you do that you're going to be making six figures and you can say at the end of the year that you brought in over a hundred thousand dollars GCI based on doing those deals throughout the year so again this can happen as quickly as you want or you can spread it out as long as you want but it's not really hard to do what I would recommend that you do take some time and figure out is what exactly you need to do to make that hundred dollars so I recommend that you go and watch my video on how to make $100,000 in real estate because that's going to give you the actual plan this was to give you kind of the timeframe that that plan can happen but depending on how hard you work it can happen a lot quicker or it can happen a lot slower now there's going to be several other factors that come into play you know people are gonna test your experience your knowledge all that kind of stuff and that's to be expected but at the end of the day you know that when you acquire a client to when you actually closed the deal you're looking at three to four months and then you're gonna need a certain amount of transactions at a certain price point to reach that hundred thousand dollar or more Commission in your pocket something you can do to make this happen quicker but this is going to make you have to do more work because you're probably going to need more deals is you can hire somebody or you can work as a team with somebody else and so partnering up with another agent then it's two of y'all three of y'all or if you hire somebody on your personal team there's more people contributing to helping you get to that six-figure Commission than just yourself and so that can make things happen quicker and there's a number of ways to do this but I wanted to kind of just set out a realistic time frame for you to make that kind of money so I hope you can understand this video and I hope that it's been helpful if you have any questions feel free to leave them down there in the comments I'd love to keep this conversation going and so drop me a note give me a thumbs up if you liked this video and as always please subscribe to my channel because I release content like this all the time and I would love to have you a part of my community I will talk to you soon [Applause] [Applause] you

19 thoughts on “6 figures in Real Estate | How Long It Takes

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  2. Chastin J. Miles which package did you choose at Real estate express? Which one should I choose! I need your advice! Thanks in advance!

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  4. I love your videos! I literally watch them multiple times a day! So informative and motivating. Thanks Chastin (:

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  6. Yeah, Chastin this is critical info that a newer agent needs in the back of their mind. Thanks again for the insight and perspective on developing a new real estate business.

  7. Hey Chastin, unsubbed some time ago and now treaded on your channel. Reminds me of where I was inspired about property. Can't really go into it until I'm 18 as I'm in the UK and it's a bit complex. Love your new content! Will subscribe

  8. Success is the completion and the fulfillment of the original intent of purpose for your life. That is Success.

    Success is measured by purpose when its fulfilled, success is not measured by what you have done compared to what others have done, success is measured by what you've done, compared to what you knew you could've done.

    You are the measure of your own success.

    Thank you for doing what you do! God Bless

  9. Hi, my name is Charlie. I am 16 at the moment. I am in the Dallas area. When I turn 18 I want to get my real estate license. Do u think it would be easy for me to be an assistant for a real estate agent my first year?

  10. Mr Miles, I've been watching you for about 2 weeks now and your videos are are truly free gifts to people like me. I'm going on my first KW interview Monday, then another interview on Tuesday.

  11. Very good tip Chastin!! What about working in property management for extra added income as well? Or listing units for landlords and getting them rented for a service fee? Thanks!

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