01bansheefox Posted January 14, 2005 Report Share Posted January 14, 2005 Just have some questions about that career, how to get started etc...... Quote Link to comment Share on other sites More sharing options...
kenr74 Posted January 14, 2005 Report Share Posted January 14, 2005 I'm not an agent but I have a friend that is. It is probably different in each state but I know he had to take classes and then take a test to get a licence. After that I think it is just a matter of getting hired on at an office or starting your own. It's a feast or famine job though. Quote Link to comment Share on other sites More sharing options...
01bansheefox Posted January 14, 2005 Author Report Share Posted January 14, 2005 It's a feast or famine job though. and what do you mean by that exactly? Quote Link to comment Share on other sites More sharing options...
sp1tekiller Posted January 14, 2005 Report Share Posted January 14, 2005 Either you make it really good, or you dont make it at all. Quote Link to comment Share on other sites More sharing options...
kenr74 Posted January 14, 2005 Report Share Posted January 14, 2005 Either you make it really good, or you dont make it at all. 306702[/snapback] Yep, what he said. You are either rolling in the money or trying to scrape some up. If you can't make a sale you don't eat. Quote Link to comment Share on other sites More sharing options...
bigboybanshee Posted January 14, 2005 Report Share Posted January 14, 2005 kenr74 pretty much nailed it...My wife's mother is a real estate agent, and there are months where she doesn't sell a house at all, she has ZERO income for those months...you have to be REALLY good at saving money and not blowing it, you never know if you're gonna sell a house or not. Also, getting started is really tough unless you already know someone in the business. Most real estate agents have been doing it for a long time and have a *set* group of clients, mainly home builders. There is great money in the business but you have to get out there and earn it. There is also an ass-load of drama in real estate...competing with each other, other agents taking your sales, etc...too much BS for my taste. Now, the best kind of real estate business to be in is when you buy a group of homes and rent them out to people, it takes some time but when those houses are paid for, that's pure profit in your pocket, and you can have other people paying the mortgage for the house you live in..... Quote Link to comment Share on other sites More sharing options...
04ShEeLE Posted January 14, 2005 Report Share Posted January 14, 2005 Any questions you might have make sure someone from your state answers them, because each state has different laws and procedures. There is a lot of money out there to be made, but stick to a place where property values are high. In Burbank a 2 bedroom house sells for $500,000 which is like a $10,000 commission check. Good Luck Quote Link to comment Share on other sites More sharing options...
whiskey bar67 Posted January 15, 2005 Report Share Posted January 15, 2005 Most states require you to take to classes, one about real estate as a whole and one about your specific state. In order to become a broker (which means you have agents working under you and recieve a percentage of their sale) requires you to work as an agent for 2 -3 years and take 128 hours of brokerage classes. Mainly over saturated, most cases no benifits whatso ever, and tuff to get started, i hihgly suggest you get a job selling new consrtuction for a builder which gets you a steady income and commision in most cases. Move into commercial real estate when your feet are wet and develope land. strip malls, building etc.. its a lot easier than many think just takes time, patience, and a hell of a work eithic. But SO much moeny if done right. And about the comment of moving to a rich neigbor hood to sell high priced homes, it is true but highly inaccurate. Bread and butter of many top brokerage firms comes from houses around 100k and under since there is a high turnover. High priced houses are tuff to come buy as they mainly go to an agent with more experience or a friend of a friend. Hope this helps. You get out of it what you put into it which makes it a great career path. And those who think its a femist job are just plain asses, they change their mind when they see the income and life style Quote Link to comment Share on other sites More sharing options...
whiskey bar67 Posted January 15, 2005 Report Share Posted January 15, 2005 also each brokerage, which you must work for when you start, has different payment methods. some might be lump sum, some are a diff. percentage of sales. many go by a 6% commision which you dont get all of it: 100k house x 6% commision = $6,000. that is split with the listing broker and selling broker. say you are the listing broker and the firm gets half so 3,000. that is then split with your broker(boss) and youll get 1500. now youll sell many of those in a month and it all adds up. Quote Link to comment Share on other sites More sharing options...
04ShEeLE Posted January 15, 2005 Report Share Posted January 15, 2005 If you lived in so cal, you would want to sell homes in burbank where a 2 bedroom house costs $500,000 instead of a city like tujunga where a 2 bedroom house will cost you $250,000. you could also sell in the above guys area but you would be stuck selling trailers for $100,000, and if you worked for his broker you would only get 50% of you commission instead of finding a broker starting off at 60-65%. Set your goals higher than this guy and you will do well. Quote Link to comment Share on other sites More sharing options...
Cotton eyed Joe Posted January 15, 2005 Report Share Posted January 15, 2005 kenr74 pretty much nailed it...My wife's mother is a real estate agent, and there are months where she doesn't sell a house at all, she has ZERO income for those months...you have to be REALLY good at saving money and not blowing it, you never know if you're gonna sell a house or not. Also, getting started is really tough unless you already know someone in the business. Most real estate agents have been doing it for a long time and have a *set* group of clients, mainly home builders. There is great money in the business but you have to get out there and earn it. There is also an ass-load of drama in real estate...competing with each other, other agents taking your sales, etc...too much BS for my taste. Now, the best kind of real estate business to be in is when you buy a group of homes and rent them out to people, it takes some time but when those houses are paid for, that's pure profit in your pocket, and you can have other people paying the mortgage for the house you live in..... 306721[/snapback] My little sister and her husband have their real estate licenses. They have or had... a friend that had her own agency. As soon as my sister and BIL hired on this woman became the biggest bitch they had ever met, and now they are on their own, trying to find an agency that won't treat them like shit. My BIL had to get a job on the side so they can eat, but they're trying. They just had a kid too, so times are a bit tough for them. Good thing they are great at saving money. Quote Link to comment Share on other sites More sharing options...
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