how would i get started in the realestate business and what are the downsides of the business?

Answer 1

You just have to take a prelicensing course, take the state test, and then sign up at an agency. Agencies will generally take anyone since they have no risk whatsoever...they dont pay you, you pay them.

But dont be surprised to pay a lot of money out of pocket first-- hudnreds of dollars. For me it costed $200 for the prelicensing course, 100 for the test, 100 for the license, 100 to lease an electronic key pad, 100 to sign up with the MLS( and 100 every three months after) 100 to sign up with the national association of realtors....etc.

Plus, it takes atleast a coule months to close on yoru first sale.

In other words, its a risk and you have to be committed, or it wont pay off.

Answer 2

Go to school, pass your state test for your license and place it with a good broker who offers training.

Another book I would highly recommend is "21 Things I Wish My Broker Had Told Me" by Frank Cook.

Some of the downsides are:
No more weekly paychecks.

Long hours. As a new agent you should be working open houses on Sundays.

You should have enough money in the bank for 6 months to pay your bills. You expenses are going to increase so keep that in mind. Not only will you have your normal monthly bills but you will have expenses to get your business going such as fees, dues, advertising, marketing, etc.

Real estate can be a very rewarding career but be prepared. Too many people jump in with little or no savings and think they are going to start getting commission checks immediately. Don't expect to make a profit the first year or even the second.

If you want to talk to someone about it, I would be happy to talk to you. Just call me.

Good luck!

Answer 3

My advice, once you get started, is to get a website.

The NAR put out a study in 2005 saying that the use of the Internet to search for a home has risen from 2% in 1995 to 77% in 2005 and agents with websites has increased 129% over the past 5 years. It also said that In terms of lead generation, only referrals and repeat clients rank above the Internet as the most effective methods of gaining new business.

Unfortunately the real estate industry is a little bit behind in marketing themselves online, so having a website that displays the MLS data with an integrated IDX feed is probably your best bet to beat the competition. Especially since most of the real estate being sold is being done so by the newly established realtors who have mastered online marketing.

Some good website design companies are http://www.bayshoresolutions.com
or http://www.siteproplus.com

But the real kicker is being to display MLS listings on your site and integrate search tools using an IDX feed. IDX Broker is definitely a superior product: http://www.idxbroker.com

Good luck!

Answer 4

dependent where you are, check out your state or provincial licencing body, most will have good websites, it will tell you all the licensing requirements and the educational process that you need to follow.

Which is all required stuff

To learn the real estate business as in the actual work involved I suggest 2 books and one approach

first book and likely the best ever is millionair real estate agent by gary keller

other book is how to list and sell in the 90's (there may be a newer version now) by Danielle Kennedy

3 resource is Rick de luca's system called 4 weeks to success.

in which he will suggest the one best thing you can ever do,

seek out the 10 top agents in your area and invite them for lunch or meeting for about an hour and ask them what they did to get started, what they did right, wrong and what one thing they would highly recommend for you to do.

Then offer them to help them (even for Free) during your educational period so that you can learn all the basics of the business early on

Oh by the way, if anyone says, don't get into the business because of some reason, remember, the market is always as good and busy as you make it.

One good indication of you potential for success is to ask yourself, how many people do I know, and more importantly, how many people know me......... if that number is less than a thousand people you have work to do on that, as they need to remember you as the realtor to call when real estate comes up in conversation (top of mind awareness)

Good Luck

Answer 5

...1. goto RE school and pass school exam.
2. Take and pass State Exam.
3. Convince a licensed Broker in the business that you are able to work and make money for him/her. That person will share RE commissions with you.
3. YOU become a subcontractor to the BROKER.
4. Money will come to YOU after YOU learn the business from the BROKER.
5. After you close the first deal, check will arrive approx, 30 days from the time you activate your "RE sales persons certificate:" and "HANG:" your license with a valid licensed BROKER.
..I currently have a Real Estate license....and that is what I have experienced.
...Good Luck !!!

Answer 6

Go to London Properties and pay them $99.00 go the the real estate principles class get your certificate go online sign up for the state board $25.00 take the test apply for your license about $200.00 and then go to work for any company you want or will hire u good luck Grandma Rosey from california

Answer 7

Long story short lets get straight to the meat and potatoes. The upside, invest in your self right now and look up tax liens. Then check out this page,
http://479dbhnj183o9n2z1sbjwbibxj.hop.clickbank.net/
You can make serious money.
The down side,
It could take a couple weeks to get a realtors license and take the average person half a lifespan just to save up 10k to put down as an investor.
But as time old sayings go, theirs no greater investment than patience.
With tax liens, you could own the property out right within up to 15 months.
BUT if you buy a tax lien on a house and end up owning that property. Say the tax lien was $2,500 and the house was valued and resold at the price value of $135,000, then u just made $110,000 in 15 months. That's equivalent of $7,333 per month. But it's an investment u couldn't touch for 15 mo.
Are you willing to invest in your self?
This is exactly what the rich understand about the value of time, money andpatience.
look at that web link

Answer 8

http://www.unclaimedhouses.com