Real Estate as a career?

Question

How many are succeeding from this? I had an associate of mine tell me that he had to lie a lot to people. Is this true ? How hard is it to get a pay check?

Answer 1

Hi Regina,

Unfortunately, real estate, like all other professions has its winners and losers. I think your associate was probably telling you the truth. And the situation is going to get worse before it gets better.

Right now there is a serious slump in the real estate market. I wouldn't get into it right now if I were you. Agents are having to scramble for whatever sales they can make. And unfortunately, as they have to work harder, the temptation to lie to make the sale becomes increasingly irresitable.

Agencies are currently laying off associates, and this only increases the "sell at any cost" mentality that gives rise to dishonesty. Unless you have to make a career move, I'd say wait for the market to improve. It'll be better on your wallet, and your conscience.

Answer 2

I got into being a real estate agent part time to learn the business so I could invest better. I will tell you that even though I worked part time at it, it was really difficult. Firstly, I like to think I'm a really honest person. Unfortunately, as a real estate person, you have to walk that fine line between telling the truth and not telling them everything to make a sale. You will be in competition with other agents from other offices as well as even your own. You don't know how many times I had people taken from under my nose from people in my office.

Basically, you need a clientele list. You need to make connections. For the first six months, you will be lucky to make a sale. However, the more people you meet and network with, the more money you will end up making. Even respectable agents that don't LIE to their clients don't end up telling the absolute WHOLE truth either.

Also, people suck. I have had many showings where people were about to come in and sign some papers and then had another agent from another office take them away from me behind my back. The customers have no loyalty to the agents. They are out to get the best deal for themselves, so as long as you remember that, you will be fine.

It's not an easy life. Even though you make your own hours, you are almost always on call. That missed call could mean lost cash. I personally am succeeding in investing. A lot less stress and less work for me. However, I would suggest before investing in real estate, they should work as an agent first to get their feet wet. Invaluable experience.

Answer 3

Real estate as a carreer is like alot of things...you get out of it what you put into it.

Yes, there are people who lie while doing real estate. They find themselves like your associate soon doing something else. There isn't any reason to lie and a paycheck certainly doesn't justify it.

A career in real estate can be very rewarding both financially and otherwise. It can offer you the freedom of setting your own hours and determing what areas you want to work and you can guide your career (single family housing vs. commercial) depending on what you enjoy doing more. You can become very well known within your community and can combine investing with something that you are actively pursing as a career.

That being said, you need to plan for the long haul if you are going to pursue it. Don't expect a paycheck immediately, so begining part time might be a good route.

Getting your license is the easy part. Interview real estate companies in your area BEFORE you get the license and ask them how they treat someone new in the business (are they going to provide ongoing training? what is the commission split? etc)

Hope that helps

Answer 4

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 5

First of all, like any profession, there are good motivations and bad motivations for getting in to real estate. If your motivations are that you want to help people, you are genuinely interested in real estate, and you'd like to earn a decent living doing it, you may have found the right career. If you're only in it for the "millions" you'll make, walk away now.
If you decide it is something you're going to pursue, start saving. You'll need 3-6mos. of living expenses saved, plus "seed money." Real estate agents are independent contractors, so you will have to pay for EVERYTHING yourself: postage, copies, advertising, etc., etc., etc., the list could go for miles. I spent around $7,000 on start up costs before my first check came in.
Second, unlike other jobs, you are not really the one being interviewed. You are interviewing companies. (You should still put your best foot forward, though, as the higher-quality companies are selective about who they sign up). Look for a company with strong education and support for new agents, as well as a strong market share. The "gorilla" company in town will help you earn sales from name recognition alone.
Third, I disagree with the answer above that says to start part time. To be successful, you must think of real estate as a 24-7 job. You're always on call, always making contacts, always thinking, breathing, living real estate. If you aren't devoted, then your potential clients will realize that they are not the most important.
Lastly, remember that there are a million and one ways to get business: it is not what you do, it's how you do it. Do it with passion and honesty, and you'll find yourself successful.

Answer 6

if you have to ask, don't do it. Take a safe, secure, salaried job with benefits.