Is it true that sometimes you have to pay for your office depending on what firm you work for? Can you buy your own real estate and sell it so that you can make a profit? What is there to know if one if considering being an agent?
2007-03-05 11:37:34 · 5 answers · asked by Ridin' Dirty 2 in Business & Finance ➔ Renting & Real Estate
First you need to be affiliated with a broker (a company) Depending upon where you are you may also have to become a member of Realtor Association to get access to a MLS. Most states require continuing education as well. It is true that depending upon where you work you might have to pay an office fee (even if you work from home). You can buy your own real estate and sell it to make a profit, but you don't need a real estate license to do it. What else is there to know? The classes you take are all designed to get you to pass the test and nothing about working in the business. If you have never sold before or have no marketing experience nor a large network you might starve in the business. You have to remember that you don't get paid until the house closes which is usually over a month after you sell it. Also you are an independent contractor (self employed) so your taxes are a little different. Most new agents don't know up from down in their first 6 months.
2007-03-05 11:52:03 · answer #1 · answered by linkus86 7 · 0⤊ 0⤋
The answer above by Linkus86 was perfect and covered almost everything. I finished my class and test a few months ago, but those seem to have very little to do with being an actual Realtor. I've been working in a real estate office for a year and a half and I've learned more about this business just watching the other agents than I did from my class or my book. If you want to be successful, find a well-established, well-respected agent in your area and shaddow them for at least three months. Nothing can teach you what you'll learn from that experience.
p.s. The term "Realtor" means you're a member of the National Association of Realtors. You have to pay to join. You can be a real estate agent just by getting a state license, but if your broker is a member of NAR you have to be too (at least in my state).
2007-03-05 20:05:01 · answer #2 · answered by blondegrlz 1 · 1⤊ 0⤋
Being in the business since the 70's I can tell you that there is all kinds of ways that different offices will contract with you. In most cases each office is unique. However you need to know the basics of our industry and to that end, believe it or not, the government has created a job description of a real estate agent and I'll be darn if it is not pretty accurate. Here go see
Real estate brokers and sales agents job descriptions from the department of Labor: http://stats.bls.gov/oco/ocos120.htm
Buena Suerte
2007-03-05 19:52:22 · answer #3 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
You gotta know how business works in general since you are working for yourself. There are also times you can make an investment and help investors. There is also a lot of marketing knowledge and people skills involved. Check out http://www.HelpusellAward.com for some info.
2007-03-05 19:45:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Honesty, Integrity, good negotiator, Leadership
2007-03-05 20:51:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋