Would you recommend getting into Real Estate??

Question

I'm getting my license this week (assuming I pass). I currently live in RI, where the market sucks right now. But I am really thinking of moving to upper NY. I keep getting mixed reviews 50% of people say "aww the market sucks, you wont make ANY money" the other 50% are like "ohh you can make a ton of money, its such a great field to get into".

Answer 1

I work in a real estate office in NY and a big one, Coldwell Banker & the market is really slow right now. For example 4 of our "new" agents gave up & quit R.E completely. I don't have a license because the R.E market is unsteady & I need a weekly paycheck. The best advice is to have a reliable job on the side whether it be F/T or P/T & keep in mind not to expect anything major as far as money in at least 6-12 months, RE is referral based and you need to work on as many referrals as possible, work with local mortgage people or inspectors and offer specials etc. & get your name out there, also make sure you find a company with good splits, you don't want to start making good money and have to give up half your commission more than your first year!! If you need advice feel free to contact me.

Answer 2

I think real estate can work if you are willing to put in the time regardless of where you plan to do business. Certainly you're aware of putting in many evenings for home showings, as well as working open houses on the weekends. Those who use their time productively will do well in this field. Many choose to do this part-time only... they simply don't want all those hours. I would recommend getting any special certification/training you can get in both residential and commercial properties. Personally, I worked real estate years ago on a part-time basis... I realized how much time I would have to devote to it, and I chose spending more time with my family and choosing a different career.

Answer 3

Real Estate Marketing for Professionals
By: Christine Hancock

Great advice in this web site!

Answer 4

Real Estate can be a pain in the neck or a lucrative job.

BE sure you get yourself connected with a stable and known developer that has a very good track record of completing projects and satisfying customers. That way, you can get easier sales.

Answer 5

Oh that is a confusing situation! But you shouldn't beleive everything you hear. Get the real answer from someone you know and trust, and that will be your best bet! If your willing to beleive me, My freind's mom works for re-max real Estate and she is making good money. However she is under stress, but is pulling through! With wahatever you choose, GOOD LUCK!

Answer 6

Sure, if you want to pay to be employed for the first year of your job have at it!! I know a few very successful realtors, but realistically it's a hard way to go starting out. You need to have a lot of capital put away at the onset, and licensing and fees take a large chunk of that.

Answer 7

If you can live with the "feast or famine" method of getting paid, and always having to find new clients, go for it. If you insist on being paid on commission and working for yourself, go into insurance. It's not as interesting, but at least you get renewal money. It's nice to wake up and know you already made money that day.

Answer 8

It depends on the area.

Unfortunately, you missed the boat on the outrageous real estate market growth, but you aren't too late to make money if you choose locations wisely.

Good luck

Answer 9

I am not sure how the market is in N.Y. But here in Oklahoma, it has stalled. My advice would be to research your desired area carefully. In general, I believe it is kinda sluggish everywhere. But then again, I'm not what you would call an expert.

Answer 10

Great way to make money. Good luck! Try the Southeast instead of the frozen north!