I have seen a few episodes of Million Dollar Listing on Bravo. The agents there live the high life and have just as much drama in each and every deal. It makes me want to get into real estate. Has your experience as an agent brought you success, fortune, or tons of headaches? I want to know your side. And please include your market area. Thanks.
2006-10-04 13:01:27 · 14 answers · asked by the_rising_goddess 2 in Business & Finance ➔ Renting & Real Estate
I have worked with Real Estate agents for over 5 years, its far from glamorous. Firstly it would be rare for a new agent to land the presiges properties. It takes at least 2 years before you start making real money and that working till at least 8pm weeknights and all weekend.
With Real Estate, unlike other sales poistions you not only have to sell the property you also have to find and list it.
It is good money if your prepared to work long and hard hours is no job for the 9-5 type.
2006-10-04 13:08:51 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I am not an agent, but I can tell you this for sure:
Anyone and everyone can become a real estate agent. It is a short class that you take at any community college.
With that said, there are always a large number of people who are taking the class and trying their hand at the real estate game, and most of them end up leaving. Here's why:
When you first join a company, you are at the bottom. You do not get the listings that go for millions (If your city even has many houses selling for that price, not everyone lives in beverly hills), but instead you get the small starter homes, and pretty much things no one else wants to get.
You have to build up your own client base and maintain a GIANT social network of friends who don't mind you pitching sales to them every now and then. You have to get a reputation as a good agent which can be VERY hard to do.
You have to pay for most of your own advertising, and to top it off, if someone else sells the house (Any realitor from any company can sell any house for sale by any other company), your commission is drastically cut.
Keep in mind as well that the company charges a 7% of the closing value. You do not get the 7%, you get a % of that. On a 50,000.00 house, you will not make that much money.
Also consider that you will have NO freetime. You will always be looking for new clients, going to show houses at a clients whim, studying the houses you want to sell so that you can tell your clients all about them... the list goes on and on. It is far more than a full time job, and in the end, unless you're in a multi-million dollar neighborhood, you're not going to make that much money anyhow.
Even if you are in one of those neighborhoods, you have people who have been in the business for 30 years or more fighting to sell the house before you can. Talk about competition and stress..
2006-10-04 13:08:42 · answer #2 · answered by iswd1 5 · 1⤊ 0⤋
Attend open houses. Also, pick up the local real estate books that they give out for free. Find a few houses you like and call the listing agent and ask to see the house. That will give you a chance to meet a few local agents and see if there is anyone you mesh well with. We used Remax with our last purchase/and sell. However, I would not base my decision on a specific company name....each realtor is different and unique. Try to stick with a company that has a more well known name (none of those discounted fees places or tiny companies) so you know you are getting the most accurate information possible. If possible, it would be nice if the agent was close to your age, so that they can relate to why you are looking for certain features or locations, and can better foresee other homes that may be perfect for you that maybe you are overlooking as being somewhat unfamiliar with the area. Good luck! Look at several houses before making any offers!
2016-03-27 05:14:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Alright. I know you have had a ton of answers and more to come. This is my perspective and I will try to keep it to the point. To answer your question, no. It is not glamorous. But do I love it? Absolutely. I bought my first house when I was 19 without any co-signers. As difficult as it was finding a bank to loan money to a poor full-time college student, when I closed there was the biggest sense of achievement. I have sense recieved the same sense of achievement with every closing I have done.
Directing to the answers of long hours and little income, I disagree. I am a full time mom. For the amount of time and effort I put into working my Real Estate business I would say I make excellent money. It is not glamorous but penny for penny, I do extremely well. Am I a top-notch realtor? Nope. But for the amount of hours I spend to the commisions I make, I would say it is much better than most.
They are right. It is highly competitive. You have to have the right personality to do it.
The big quote amongst realtors is "90 percent of the people do 10 percent of the work and 10 percent of the people do 90 percent of the work." It's true. If you like competition...I say go for it!
If you decide to do it, study up and learn how to get to the top within the first year. The first year is the most critical. Find information and suck it all in. Good Luck!
Check this one out.
Click Here!
This guy is my age and has proven well for himself!
2006-10-06 16:01:00 · answer #4 · answered by Anonymous · 1⤊ 0⤋
It's hard work. It's running a business like a store or any other kind. We often work nights and weekends. You have to learn to work with all kinds of people, good and bad. Is it Glamorous? Not really, it's no different than going into an office each day and working at something to get paid. The downside, long hours, sometimes all your efforts and money don't produce results. Sometimes the competition is pretty intense and some agents promise the world. I try to be honest, take good care of my clients, and be fair. I don't make ton's of money, but when the market is good, I make a good living. I live a normal life, just my husband and I. Kids are grown and gone. We have Poof and Peanut (cats), but we're pretty much homebodies most of the time. We live in Minneapolis area and love it. Hope I've given you a small taste. If you'd like more, just email me.
2006-10-04 13:17:48 · answer #5 · answered by Anonymous · 2⤊ 0⤋
I work in real estate during the week, i refuse to work week ends lol, and its not as glamorous as its portrayed.... Its a very dog eat dog industry and if you don't have the social/selling persona about you more then likely you will fail : ( Some people are good Lister's (putting the place on the market) while some are deal closes (selling the property), It has bought me success especially of how much i am earning for my age but most people i know and work with are very successful, but also headaches as it can be time consuming; deals can crash, deals may need to go to court, but hey it just adds to the excitement lol. my market area in Australia is average between $450,000.00 to high $800,000.00 (Australian dollars)
2006-10-04 13:17:29 · answer #6 · answered by *Aus*Surfer*Girl* 2 · 1⤊ 0⤋
Absolutely not. It's long hard work and most the the country does not have million dollar properties. Nothing is given to us. We have to go out and find buyers and sellers to work with. I make decent money for Chattanooga TN but I've been selling for 8 years and made it thru the first couple of years where my business had a loss each year. If it wasn't for the fact that my husband supported us and we expected the loss of income I would not have made it.
2006-10-04 13:17:17 · answer #7 · answered by Karen R 3 · 1⤊ 0⤋
It takes many years to build clientele in the real estate biz. You can make a lot of money but keep in mind those are a select few who know how to work with people, agents to sell homes.
2006-10-04 20:29:28 · answer #8 · answered by ? 3 · 0⤊ 0⤋
go to www.rehs.tv to see more TV agents and how they work, look at the homes for sale and find an agent section. There are many TV Realtors from US, Canada, Mexico, Belize & Costa Rica.
I love the site. It is very cool!
2006-10-04 15:40:02 · answer #9 · answered by Lonnie 2 · 0⤊ 0⤋
The folks on Million Dollar Listing on Bravo are MORE ONs.
Maybe it's a pretentious wannabee California-Hollywood, 'I'm going to be on TV, therefore I shall act retarded' thing. The show is embarrassing.
2006-10-04 13:03:51 · answer #10 · answered by HMMMMMM 3 · 1⤊ 0⤋