I'm thinking about going in to real estate?

Question

i don't want to give up the job i have..i wanted to do real estate part time to have some extra money..is that a good idea?

Answer 1

I am a Realtor and I'll give you my two sense.

Depends where you live. In a lot of markets through out the country real estate is sleeping. Just because you are in real estate doesn't mean you will make money, the competition can be fierce. If you sign up with a broker that is a part of a Realtor association, you will HAVE to join as well and that will cost you, depending on what county you join about $ 800 a year in dues and in MLS access. (some counties dues and MLS are separate which can cost you over $1500 a year. The fiscal year for NAR starts in October so if join before/after that the price will be prorated. If you sign with a broker that is not a part of a Realtor association then it won't cost anything but you will be at a disadvantage. ( A sales agent and a Realtor are not the same)
Are you qualify for a license? I mean did you complete the pre-licence course (about 60 hours?), Approved by your state( background checks)
Check with local realtors or brokers and talk to them. Research the your farm area (market you will be working in). Home sells are down from last year and prices are up, but they are coming down. Keep in mind interest rates and the cost of insurance are driving sellers away. If you are in South Florida contact me and I'll tell you whatever you want to know. Some sites to check out;
www.planetrealtor.com , www.realtor.org, www.realtor.com (realtor.org is for Realtors and realtor.com is for consumers( but use both)
Good Luck

Answer 2

Yes Real Estate is a great part time job! Of course you need to analyze the market in the state you live in. There are some start up costs and ongoing costs that you have to be prepared to fork out and if there is an overabundance of real estate licensees in your area it may be difficult to obtain any market share. The best thing to do is get your license and host open houses so that you can find good buyers to work with. I have known many people who have worked in real estate part time on evening and weekends for years and have been able to steadily make an extra 30-50K per year.

Answer 3

Real Estate is a great opportunity! I do Real Estate, Mortgages, Investing, and 5 home based businesses!
If I can suggest a couple of opportunity's below I think are on a better up turn at this point of time!
The Real Estate market is in a slight down turn!
I would also suggest before spending all that time to get your license. spend a couple of weeks with a professional and do there job for them for free,.. it will give you the opportunity to see if you would like it before you spend time and money!

Answer 4

I tried it, but it doesn't seem to work.

You sit around a real estate office, but you can't do it full time, so you don't get customers that want to trust you.

It's no good for part time income.

I still am licensed, I don't know why I keep renewing my license...but I don't sell houses...maybe I'll use my license to get a break for my personal purchase or sale, or friends and relatives.

Again, it's not the kind of business you can expect to make money part time with...but not to discourage you, ask around, who knows, there may be some kind of property management jobs requiring a real estate licensed person to run.

Answer 5

Sure. A lot of people do just that, especially people in big social circles (union members, fire fighters, cops, etc). You should learn a bit about financing too. It's not much more of a stretch and could almost double the income from a home sale if you do the loan too.

Answer 6

are you good at sales ? do you have a nice car to drive the clients ?...then yes...go for it !