Real Estate? Good career move?

Question

I've always been facinated with real estate and the local college is offering the required course to obtain your real estate license. Is this a good career path? Is it hard to get started and get established?

Answer 1

Sams answer above is great, I totally agree!

It is basically like you own business - 100% of the sucess depends soley on YOU. The timid don't make it - only the strong survive and over 90% fail in the first year - but if you can make it - your income will be very rewarding - not to mention you are working for yourself and all of the inherent benefits of that.

I would not switch jobs with any 9-5 employee.

Tony

www.hqhomes.com
www.cabellahomeloans.com

Answer 2

Being a real estate agent requires constant relationship building and networking and the traditional brokerage format is not for everyone. In any size office, competition is fierce among the agents in the office themselves and from competing firms. You have to have the wherewith all and tuff skin to survive your first couple of years. Besides the cursory training provided you are pretty much left to your own accord. It is the survival of the fittest at the most basic level. Can it be lucrative? Yes it can be but at what cost? Health, family and friends. And the expense! Be prepared to shell out at least a $1000 to $2000 to get started in Realtor fees, MLS fees, lock boxes, business cards, signs, E/O insurance, extra car insurance if you don't have the 100/300/100 limits to name a few.

I know I am being discouraging but you have to be prepared for those realities. You have to have some form of additional income before even considering going full time, especially if you plan to work for a traditional brokerage. There are other alternatives like builders and property management firms. Most discourage part timers. If you want to start part time in the business, then email me and I will send you some information on my firm which has a different focus and go beyond the full service brokerage market.

Answer 3

not that I have ever been a real estate agent but it is my understanding it is boom or bust because of it being commission sales. Some months agents do very well but have to budget well also for the lean months. The commission sales people I know all say they appreciate a spouse who has a stable income that can be countted on should they have bad months.
Like any sales I believe real estate does take a while to be successful and referrals are very important.
For those that are succesaful the sky is the limit in earning potential... but I suspect less than half who start in the career are there in two years.

Answer 4

It depends on where you live! A couple of years ago it was a great career since interest rates on houses were very low, but now a days they have increased. Espcially here in California. Find about about your location talk to a real estate professional and they'll give you great advise. Any time you have to sell something to people it can be a struggle especially the biggest investment which is a HOUSE! Personality is huge in the real estate market!

Answer 5

Don't waste your time unless you have lots of money to get started. I thought the same thing, real estate sounds fun. Maybe it will go better in CA. but not in TX. To much competition and it takes years to get it started. I wish I wouldn't of wasted my money or time on getting licensed. Also, look at investing several hundreds of dollars on education that you will need to renew your license every year.
I personally think it is a horrible career path unless you have someone that can financially support you for up to 5 years. Working on straight commission is crazy if you ask me.
The broker is the only one that is coming out making any money here. That is why each real estate office is FULL of (POOR) Real Estate Agents.

Answer 6

Right now is a horrible time to become an agent. Even in areas that haven't been greatly effected by the declining markets realtors are still having problems finding new clients and selling the properties of the homes they're listing. And with tighter restrictions on lending it's difficult for purchasers to qualify for a mortgage with anything less than great credit. I'd ask a few realtors in your area how their business is doing. i'd bet that most aren't having half the closings they were a year ago. But, perhaps I'm wrong make some friends in the industry and see how they're doing before you make the commitment to enter an industry that is potentially floundering right now.

Answer 7

It is a very good move. Good Realtors are hard to find. If you are self motivated, you can hit the ground running. I have many good programs to help you get started. What state are you in? I am a California Realtor with connections in all the states. I can help you get started and point you to the right sources. You need a good mentor to help you through the start up. I am more than willing to help you out. Check out my website, www.ElegantDesertHomes.com and click on the careers tab. I look forward to helping you. And of course, my help is absolutely free and no obligation.

Answer 8

I dont know how get started, but I do know that my mother just attended an economy seminar in CA and the speaker told the group that the real estate market was about to "bottom out". I guess we had our real estate boom and its now all coming to an end. Maybe something to think about.

Answer 9

Only lucrative in certain markets -depndson property turnover, space, and number of other realtors.

Now interest rates are up and sales are down, so the timing is bad. No wonder the class isn't filling up fast and needs to advertise!

And yes, it is very hard to get started in.

Answer 10

Yes it is and very lucaritive too read some tips and articles on it on this site