I'm intrested in the Realestate career?

Question

I'm intrested in getting into Realestate but I have some questions for anyone whos knowledgable about it. I'm only 18 years old and I've never even seen someone under 23 as a realestate agent so I'm trying to decide maybe I should get some type of degree before I get into realestate school but then theres also the factor that I'm a girl. Do people like to work with female real estate agaents??? It's a career off of 100% commission and if I can't get people to want to work with me becuase I'm young or a girl, how will I start building clientel and word of mouth??? I'm hopping someone can help me out here....

Answer 1

The real estate business is driven off or credibility, and that's something you can build at 18. I've seen people do it, although it's rare.

You're going to work to your strengths here: working with friends gettting into their first homes, or working in new construction at a model home may work well for you.

Women agents tend to bring a pinache to the business. Dress up for the job. Hold your feminity as an honor. Don't apologize for being a woman. You're going to be extra careful around couples--because the women can get jealous and the men can get distracted. You'll always be factual and prepared.

In the business in general, you've got a 93/7 split: 93% of the money is earned by 7% of the agents (vs. 90/20 split in most industries). That means you have a chance to either commit to actually working the business or just keeping an active license in case a cousin wants to buy or sell a home.

Because of this extreme split, real estate agents don't have much of a reputation. To many people are doing it on the weekends and don't know what they're talking about.

Build up your service proposal and stick to it. Getting fast CMAs, having a stick-to-it listing approach, knowing your contracts, knowing your niche are all critical value-adds that you will master.

To build a business, you're going to start with your warm market. You're going to work well with these people. You're going to get used to writing thank you cards and birthday cards. You're going to drop in on people or call people in your spare 2 minutes here and there. You're going to learn to be accountable for yourself when you're working.

That's some of the basics. Some of the specifics:

Find Bill Good's Prospecting Your Way to Sales Success to get your business rolling. It's kind of cheesy, but it's the best I've found. Also find The New Conceptual Selling and master that.

Find the best broker you can. Most brokers churn through new agents (let them come in and do a few deals and then burn out and leave the business or brokerage). Find someone you trust that's got a mentoring and training approach that they actually implement. Interview the new and veteran agents in that organization first to be sure you've chosen a good brokerage.

Keep yourself positive. Fill your life with what you enjoy. Play to your strengths and bring your special charisma and charm into those areas of your life. You'll do great.

Good luck, feel free to contact me through my Yahoo! Answers profile if you have any follow-up questions.

Answer 2

18 would make it tough to build clients. People's perceptions are sometimes screwey. I've worked with young agents that were a whole lot smarter and knew the industry a lot better than some of the older ones and vice-versa.

I would take real estate and business classes for a few years. Being able to relate to the financial end of the business will give you a good edge. You could even work in the escrow/title part of the industry for a couple of years and learn things from that end too.

Women do as well as men in this business, so don't let that stop you!

Your clients will build slowly. Being a good or great agent in a very crowded sea of so-so agents will be the best thing you can do. The money will take a while to start coming in, so I would have some kind of backup if you can.

I may be wrong .. but I think in most states you can't take your exam until you're 21..but I could be wrong. Use the time to learn as much as you can until then!

Good luck :)

Answer 3

Girls make up 54% of all R.E. agents. Especially if you're cute, thats a plus. get a degree first, so when you get out of real estate you have something to fall back on. Over 90% of agents leave the industry in their first year now. It is nothing like you think it is. And it is not "100%" commission. Your company of choice will take up to half of your pay. You can try it part time as you go to school and learn the business. I would never put off school to become a Realtor and you probably don't have the money to get started. You are looking at spending at least 10 grand in your first 6 months if you want to be successful.

Answer 4

Real Estate is a nice profession so long as you'll be able to manage the u.s.a.and downs of the marketplace. In a natural Real Estate transaction, one agent brings within the purchaser and one agent brings within the vendor. Typically, each and every agent works for a Real Estate Company that's eventually accountable for the movements of the agent. Therefore, they're going to hold side of the commision. How a lot of the commision they hold relies on the agreement the agent has with the organization. The directory agent negotiates the whole fee to be paid with the vendor of the residence. Although there is not any set fee constitution, let's consider the agreed upon commision is 6% of the promoting cost. In this transaction, each and every organization could most likely get part of the whole fee or three% of the promoting cost. Real Estate marketers get a "cut up" of the fee from the organization. When the agent is new, your dealer will probably be doing plenty of give you the results you want and can anticipate to be paid extra for it. In different phrases, your cut up will probably be scale down-say 50-60% of what the organization will get. When you get extra enjoy you'll be able to negotiate your cut up greater. My fine recommendation is to begin operating for a significant organization considering that they're going to in general have extra coaching and aid to be had for you. However they in general hold extra of your cut up for serving to you. Sadly, whenever you get enjoy, it's in general less complicated to transport to yet another organization than to barter a higher cut up. I wish this is helping.

Answer 5

Your 18 go to college get a degree and then go after whatever you want. The old saying of having something to fall back on is the truth. This industry is changing every day and as the one answer stated everyone is an agent is true. when the market is hot the waves come in. and now that it is cold they are all running for high ground. Get your license and finish school.

Answer 6

Forget it, for a few years at least. The field is overcrowded. Everyone and their mother wants to sell real estate. Meanwhile, mortgage originations dropped 40% since 2003 and are likely to drop more. The shakeout is only a matter of time.

Answer 7

Not sure about you age but do you like negotiating?