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Welcome to "Realtor Reality", where we dive deep into the world of real estate to uncover the genuine experiences, challenges, and triumphs of the industry. 🏠✨
In this episode:
Work-Life Balance in Realty: Discover the intricacies of balancing personal and professional lives in this high-paced career.
Starting Strong: Understand the importance of financial preparedness as you venture into real estate, ensuring you're set up for success from day one.
Navigating Challenges: Learn about the hurdles every new realtor faces, from payment delays to building a steady clientele, and how to overcome them.
Limitless Possibilities: Get inspired by the boundless financial opportunities and the joy of helping clients make significant life decisions.
Exclusive Interview: We're honored to have the phenomenal Georgie Smigel with us, a 7-figure realtor with an incredible journey and invaluable advice. Listen as she shares her insights, strategies, and the secrets behind her thriving team of 15.
If you're considering a career in real estate or are a budding realtor looking for guidance, this video is a treasure trove of firsthand experiences and expert advice. So, hit that subscribe button and ring the bell 🔔 for more real insights into the world of realty!
Remember to leave a 👍 if you found this helpful, and drop your questions and thoughts in the comments below. We love hearing from our community!
Timestamps
0:00 Introduction
2:05 The Truth about Job Flexibility
2:55 Average Real Estate Salary
5:20 Persistence Pays
6:30 Advice from Georgie Smigel, a 7-figure realtor
Show More Show Less View Video Transcript
0:00
okay guys we just finished recording
0:02
this video and let me tell you you want
0:04
to watch it it's truly awesome his mom
0:06
best realtor in Western Pennsylvania we
0:09
just caught her off the cuff gave us
0:11
some serious knowledge pros and cons
0:12
about the industry and it's something
0:14
you don't want to miss yeah we name this
0:16
video what you shouldn't you know why
0:18
you might not want to be a realtor but
0:20
she talked about pros and cons so now we
0:21
probably have to think of a new uh title
0:23
for it but seriously it's gonna blow
0:26
your mind it's gonna blow your mind
0:27
watch the whole thing hi this is Leo I'm
0:29
Diane and today we're actually talking
0:31
about five reasons why you might not
0:33
want to get your real estate exam very
0:34
different from what we're usually
0:36
talking about because obviously we help
0:37
you prepare to get your real estate
0:38
license but not all jobs are all
0:41
sunshine and butterflies some have some
0:44
fun so that's what we're here to share
0:46
with you today the reason why we're
0:48
laughing there is because one of us is
0:49
an idiot and I was like Guns and Roses
0:53
yeah I know I know but anyways
0:57
um so there are a lot of benefits to
0:59
being a realtor so and most of the time
1:01
people think about the money and the
1:03
flexibility I mean when you were
1:04
studying for years yeah I remember I was
1:07
like what can I do that will allow me to
1:10
have free time make my own schedule but
1:13
still make a good amount of money and
1:15
that was let's be a realtor yeah and
1:17
there's a lot of top region rated agents
1:20
that make over six and seven figures in
1:22
fact we're going to interview one of
1:23
them today I'm going to call up my mom
1:25
without her knowing
1:27
um and it's gonna be great yeah and see
1:29
what she these things are some of the
1:30
drawbacks of being a realtor are but you
1:33
know from watching her
1:35
um you know there's it's hard to make a
1:38
lot of money and also have a lot of
1:39
flexibility she I mean I will be at
1:43
family dinner on Sunday nights and we're
1:46
lucky if she's sitting there with us for
1:48
like more than five minutes my phone's
1:49
ringing my phone's ringing I gotta take
1:51
this call so it's an exception and she
1:54
has PTSD about mold right if like we've
1:57
heard about mold like so that's the
1:59
challenge right because if you think
2:00
about when people are trying to buy a
2:03
house it's usually when other people
2:04
aren't working they're not at their jobs
2:06
right so my mom is working during the
2:08
day and during the evenings because
2:11
that's when so whenever I said
2:14
kind of like on your own schedule you're
2:16
kind of really not because your clients
2:19
like you just mentioned when they're
2:21
free that's when you go yeah but to be
2:24
fair I mean that's because that's the
2:26
path that she chose right she wanted to
2:27
become a high earner and she has a team
2:30
of roughly 15 people now so she's got a
2:33
lot of people that report to her and all
2:34
that so she took that path and has a
2:36
little bit less flexibility growing up
2:39
it's interesting because you know my
2:41
friends were mom was in real estate too
2:43
and they chose the opposite route it was
2:45
more of a lifestyle business and you
2:47
know they they made pretty good money so
2:49
just to kind of give you some
2:50
expectations the average real estate
2:54
agent makes roughly sixty thousand fifty
2:56
to sixty thousand dollars uh the lower
2:58
10 percent makes 30 and then you have
3:00
your top like two percent that can make
3:02
a ton of money and everything in between
3:03
so it's really what do you want do you
3:06
want the flexibility or do you want the
3:09
money right it comes down to dedication
3:11
yeah and the other thing too that I
3:14
think is a big misconception is that you
3:17
know maybe you'll be able to go out
3:18
there and make a ton of money right away
3:20
but what is so uh impactful and with my
3:24
mom's business is she has so many
3:25
returning customers I mean you know how
3:28
many houses she sells a year when you
3:30
speak on that thank you I mean I didn't
3:31
believe it when she told me Davis years
3:34
ago but
3:35
it's around 300 and like 68 to 70 houses
3:39
in a year when we all know there's only
3:41
365 days in a year so you do the math so
3:44
so think about that so think about that
3:46
when you you know get to that upper
3:48
level imagine all of those people that
3:50
you're dealing with it contracts you're
3:52
writing I mean it's more than one a day
3:53
and if you think about that I mean
3:55
that's including weekends
3:57
um so you know to be able to set uh you
4:00
know it's hard to set uh work-life
4:02
balances from that perspective and the
4:04
other thing too is you're really an
4:06
entrepreneur people like forget that is
4:08
it when you're a realtor you really have
4:10
your own business I mean you have your
4:12
own Quick Books in fact I've been
4:13
helping my mom with that lately and
4:15
setting up some of those systems you
4:16
have your own CRM so there's there's a
4:18
lot to it so um again you just sort of
4:21
have to decide do you want to go which
4:23
which route right I mean if you're just
4:25
looking for a little bit of money and
4:29
do something like you've got that
4:30
flexibility or you're wanting to
4:32
literally make a crap ton of money you
4:36
can do that too yeah and I think the
4:38
other thing too to understand is that um
4:40
you know I guess it really depends on
4:42
where you live right because maybe if
4:44
you were living in like Beverly Hills or
4:45
something you just have to sell one here
4:46
I mean what's that show that you like
4:48
yeah oh my gosh selling Sunset okay so
4:51
good and I yeah you saw one house a year
4:53
you're set because they're 32 million
4:56
dollar home right the commission on that
4:58
alone is like forget about it yeah a lot
5:01
um but I mean or you live in Pittsburgh
5:03
where you might have to sell 55 houses a
5:07
year to make a decent living yeah and
5:09
and that brings up a good point think
5:11
about how many people are competing for
5:14
those Beverly Hills Hills jobs right I
5:16
mean that's the thing so I would say
5:18
just
5:20
um you know from my experience watching
5:21
my mom the number one most important
5:23
thing with both passing your real estate
5:25
exam and becoming successful is
5:28
persistence right yeah um yeah and then
5:31
you build up your clientele and over
5:32
time
5:33
um
5:35
and that's the other thing too so I I
5:37
didn't
5:38
um you know mention this so my mom has a
5:40
lot of uh older friends that are you
5:42
know pretty much retirees but they just
5:44
take you know refer uh their referral
5:46
business and some of their best clients
5:48
so they actually do make a lot of money
5:49
and have like a lifestyle business do
5:51
you remember when we were at that one
5:53
with the breakers for the one Resort and
5:55
there's that one lady who sort of is
5:57
kind of like can you remember that right
5:59
a second it'll dawn on me later anyways
6:02
anyways it's a certain point
6:04
um you know when you retire oh
6:08
um I can't think of any
6:09
of her name exactly she had like real
6:10
short hair
6:12
yeah so she um she born had a lifestyle
6:14
business because at that point she built
6:16
up her business and they just came to
6:18
her she didn't have to do any lead
6:19
generation or anything like that
6:21
um so at this point
6:22
um why don't
6:24
she give my mom a call let's give her a
6:26
ring why not I mean she may not answer
6:28
because she's the busiest realtor and
6:30
human being I've ever met yeah but we
6:32
could try yeah yeah and if he doesn't
6:34
she doesn't so those are all the big
6:36
cons right and the expectations you know
6:40
the the work-life balance and
6:41
understanding do you want to take the
6:43
money path or do you want to take the
6:44
work life balance path but let's see
6:46
what mom says hopefully she'll answer
6:47
yeah hopefully this one if not I'm sure
6:49
by the end of this video she'll call us
6:51
back
6:52
all right
6:54
this is gonna be funny oh
6:56
you've got a oh it's okay
7:00
hey Mom
7:01
hey you're you're Live on YouTube if uh
7:04
I sorry
7:06
um I thought uh if you could take two
7:08
minutes and just talk about maybe some
7:10
of the pros and cons of of being a
7:13
realtor would that be okay
7:16
okay so yeah so what would you say or
7:18
maybe the top uh top you know two or
7:21
three pros and maybe some of the top
7:23
cons of being a realtor
7:30
absolutely
7:32
all right um ask me the question again
7:35
sure no worries yeah I kind of just hit
7:37
you out of nowhere um give you know what
7:39
this is a cons video so why don't you
7:40
tell us some of the top uh negatives of
7:43
of being a real estate agent that maybe
7:44
some people haven't thought about
7:47
well the top negatives about being a
7:51
realtor
7:52
um probably the two things I hear from
7:55
my team members are you have to work
7:58
with other people are off work
8:01
which means you have to be available
8:03
evenings and weekends
8:06
and
8:08
um sometimes you know that gets to be
8:11
old or hard when you want to be home
8:13
with your family your spouse
8:17
um
8:18
at that time right and we and we did
8:22
mention that and that's that's one of
8:23
those ones because we see how hard you
8:25
have to work and
8:26
um you know obviously you know you have
8:28
to work when other people aren't
8:30
yes one of the other things that's very
8:33
difficult is
8:36
um if you're just starting out
8:39
you need to have some savings or a
8:43
budget for a spouse who's working
8:47
even if you sell a house day one
8:52
you're probably not going to get your
8:54
first paycheck till day 45. well that's
8:58
a good point you have to be prepared for
9:00
that okay see this is why we call her
9:03
because she has all these insightful
9:04
things that we can't think about it and
9:06
anything else mom
9:08
well and you also like the biggest
9:11
problem for new Realtors is that they
9:15
can't keep their business consistent
9:18
and that's why a lot of people join the
9:20
team because what happens is a young
9:24
realtor they do really well they get two
9:27
or three sales and then they're so busy
9:30
with Home Inspection mortgage appraisal
9:35
keeping that particular scale together
9:37
that they're not prospecting for your
9:40
new business so they have the up and
9:43
down of the income
9:46
I see that makes a lot of sense so you
9:48
got to always be prospecting but it's
9:49
really hard when you're just a one
9:51
person trying to you know grow your
9:53
business and then deal with the
9:54
contracts and all that stuff right
9:56
absolutely and that's why we always like
9:59
keep pushing our team members every week
10:03
okay this is happening now you have to
10:06
continually do this yes you might be
10:08
busy now but you need to make your phone
10:11
calls every day you need to send out
10:13
your just sold otherwise two months from
10:16
now you're not going to have any money
10:17
coming in no that's great
10:20
um perfect okay well I don't want to
10:22
hold you up too long because I know
10:23
you're you're super busy
10:26
um what about some positive things about
10:28
being a realtor or any final words for
10:31
the audience
10:33
well oh absolutely there's so many
10:36
positives
10:37
your income is Limitless
10:41
um and what I mean is you can you get
10:44
what you put in out so if you're a
10:48
really hard worker and just stay at it
10:50
you can make a terrific income
10:52
um
10:54
secondly
10:55
um you make a lot of really good
10:59
relationships with your customers you're
11:02
helping them make the largest one of the
11:05
largest decisions possibly in their life
11:07
and and you become a trusted advisor to
11:10
those families or people
11:13
and that's really important
11:16
um and
11:18
um you know you just get to it's not the
11:21
same every day which could be a good
11:23
thing or a bad thing because there's
11:25
never a day even though I've been doing
11:27
this for 33 years that I don't learn
11:30
something new because there's never any
11:33
two days that are the same in real
11:35
estate wow well that's great perfect mom
11:38
as as always
11:40
um you exceed expectations that was so
11:42
well said gig
11:46
our kid calls her Gigi if you're
11:48
wondering so okay Mom love you thank you
11:51
all right all right thanks bye
11:54
well well there you have it so she's
11:57
amazing isn't she she is and we hope
11:59
that that just taught you so much
12:01
because
12:02
she's so has so much experience she's
12:04
been doing it for ever right right so
12:06
she obviously loves her job and um yeah
12:09
I don't know what else to say after that
12:11
so yeah so at that end done yeah so so
12:15
with that being said we'll leave it
12:17
there um I think we're probably gonna
12:18
have to have her in person at some point
12:20
definitely
12:21
um I think y'all probably want to meet
12:22
her at this point and the other thing
12:24
too is if you actually are in the
12:26
Pittsburgh area I mean she's always
12:27
growing her team
12:29
um so maybe even you could join uh up
12:31
with her so anyways um have a wonderful
12:33
rest of your week and we'll see you next
12:35
week okay
12:36
bye
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