i'm thinking of becoming a real estate agent

Kreeli · Mar 7, 2003

how uncool is that? don't answer that question. 
pro's: 
i have a great deal of sales experience. 
i am a "people person". 
i think real estate agents can set their own hours and choose how often to work. 
commissions vary, but even with just a few sales a year, i could up my family's income enough that we would no longer be living paycheque to paycheque. 
con's: 
i have to somehow come up with the $1000 or so needed to take the courses and get licensed. 
i will have to affiliate myself with a real estate agency and who knows how much of a cut they take from your sales, or how much pressure they'll put on you to work? 
i'm not a "math person". 
does anyone have any opinions on this?

GhostUser · Mar 7, 2003

I say GO FOR IT! <img alt="" class="inlineimg" src="/images/smilies/grin.gif" style="border:0px solid;" title="

"> 
The only other complications that I can think of are: 
1) You've got to be available after normal work hours, evenings and weekends. I remember you saying that your hubby works evenings, so that could be an issue unless you've got reliable and flexible child care. 
2) Agents are only as successful as the market is--right now in my community the housing market is like a big crazy f*cking firecracker. For example, we bought our house in September for $40,000 more than the couple who sold it to us paid for it just six months earlier! Is that insane or what? That's the way the market works here due to our proximity to Washington DC. So, what I mean is that real estate agents are raking it in now, but when the market calms, won't be. 
According to the agent who helped us buy our house, he only gets 1% of the sale of our house. I was told that the total closing costs (between buyer and seller) were 6%--3% to our agent and 3% to the agent who listed the house. Out of the 3% that our agent received, 2% went to the real estate agency.

WonderRandy · Mar 7, 2003

I have very good friend who is a Real Estate Agent. The challenges he faces are that he never has free time. he has clients calling him at all hours and he is constantly showing properties to people who may or may not buy. We tell him to set some boundaries to provide some reasonable personal time, but he knows that it's a very competitive business and there are lots of agents who are quite willing to take those calls and show those properties. Some months he makes good money, others nothing at all. He works very hard for his clients, and it doesn't always add up when it's broken into $/hour. Continued success in Real Estate requires strong word of mouth and networking, and it can take several years to establish your business, even if you're working with an agency. 
If you'd like to contact him, his name is Kevin Lewis, and his website is <a href="http://www.hiloagent.com" target="_blank">www.hiloagent.com</a> . I'm certain he'll be happy to share some of his insight with you. 
good luck! <img alt="" class="inlineimg" src="/images/smilies/smiley.gif" style="border:0px solid;" title="

">

Tame · Mar 7, 2003

I've worked with a variety of real estate agents when dealing in rental property. If you set some boundaries and make yourself accessible on your terms, it's not a bad gig. 
1% commission to the agent sounds right. I've thought about getting into it, and I may in the future. Right now I'm doing financial planning on the side, and it is not a bad way to make some extra cheddar.

dotnetdiva · Mar 7, 2003

Our last real estate agent who helped us buy/sell our house was very nice. He loved his job. I did feel sorry for him, he worked real hard for us continuously for a few weeks, on weekends, weekdays, weeknights. I appreciated him and gave him a nice Christmas gift and would give him a recommendation anytime. 
He was real open with us on what his commision was, and said he makes 3% himself in his own pocket. Thus, if this is true, he made $20,000 in just 4 weeks when he helped us buy our new home and sell our old home. This was the holidays weeks, which supposedly is a hard time to sell a home, and he had sold two homes a few days before that. We sold our home in a day and had multiple bidders. 
He's quite new (only 4 years) in the real estate industry, but it seems like he is doing very well. 
Again, he says he loves his job, he has a certain freedom and doesn't have to travel out of state, but he does dedicate about 60-80 hours to excel in his career. For example, he was available to us any hour, any day that we needed him.

spud · Mar 8, 2003

The system is a bit different in England, but I was an estate agent. It involved building up a good relationship with people going through a very stressful time and spending more money than they ever had before. And people parting with homes they loved, not always willingly. And I worked from 9am until 11pm during the two 'busy' seasons seven days a week sometimes. Sellers sometimes changed their minds after I'd done a lot of work. Buyers sometimes saw a better place at the last minute. Everyone had my home phone number. I had to keep my car clean and tidy to give them lifts to view places. After they'd finished work, on sundays, bank holidays. 
I loved the job, I made a lot of money, I only stopped it because my estate agent partner was my b/f and he was having an affair with a nutter. The whole money rat race thing seemed incredibly sordid and I quit. A year later the market crashed and the cheaper houses were only worth 75% of what they had been, and hard times set in for the business- no one much wanted to move at a big loss. It took nearly five years for a boom to start again. A property slump is anticipated in the UK. Property investment firms are selling as fast as they can discretely get their tenants out.

The_Gazumper · Mar 8, 2003

I worked for an estate agents for a little while. I was just their part-time office boy. I spent a lot of the time using Paint Shop Pro to get rid of lamp posts/big mobile phone masts from the pictures of the houses... 
The crafty buggers.

spud · Mar 8, 2003

Oh! I used to paint the sky blue on my window display photos- the houses never looked as nice with a grey sky. We used to park our car in front of dustbins and anything iffy in the front garden when we took the photos so the house would look better. 
My favourite ever estate agent photo- crappy piece of land with no PP but it had a goat on a hillock so it got centre of the window display <img alt="" class="inlineimg" src="/images/smilies/grin.gif" style="border:0px solid;" title="

">

ceryna · Mar 8, 2003

Kreeli, you should watch House Hunters on HGTV. XD 
Seriously, my coworker's sister is a real estate agent, and she LOVES it. I know, because I have to listen to my coworker rhapsodize about it for 6 hours a night. She's always out and about, talking to people, making contacts, and she makes excellent money. 
Good luck!

Avalon · Mar 8, 2003

I have been considering that too, actually. I might go for it after I complete my degree. 
My neighbour led a shady shady life until a while ago, and after turning himself around he began doing that, and he LOVES it too. He's becoming fairly successful too. 
My mum has also been thinking about it. 
Everyone I know who does it makes good money and really enjoys what they do. I think you have to have the right personality for it to be good at it, and I can totally see you being great at it! 
I say go for it, regardless! Don't forget it won't be long before both your kids are in school and requiring less time from you anyway. 
There may also be a lot of funding available to you, a young woman with 2 kids from a relatively 'low-income' family... You might find there are resources to help you with your 'tuition'. Stuff like job training grants for women... 
I say GO GO GO GO FOR IT!!! Yeah Kreeli! Yeah Kreeli!

Robert · Mar 8, 2003

Kreeli, check with your local EIC center. They often help out people like yourself (unemployed) with training allowances and course payments, even if you do not qualify, or are not collecting, EI benefits. The worst they can say is no.

GhostUser · Jan 5, 2006

<div class="quote-container">Quote:
<div class="quote-block">Originally Posted by Kreeli <a href="/forum/post/0"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style=""></a> 
how uncool is that? don't answer that question. 
pro's: 
i have a great deal of sales experience. 
i am a "people person". 
i think real estate agents can set their own hours and choose how often to work. 
commissions vary, but even with just a few sales a year, i could up my family's income enough that we would no longer be living paycheque to paycheque. 
con's: 
i have to somehow come up with the $1000 or so needed to take the courses and get licensed. 
i will have to affiliate myself with a real estate agency and who knows how much of a cut they take from your sales, or how much pressure they'll put on you to work? 
i'm not a "math person". 
does anyone have any opinions on this?</div>
</div>
 
how much experience do u need?

4Peace · Jan 6, 2006

My dad sold real estate after he retired from farming...something to do. There is no salary; it's based on commission. I am not sure if there are any agencies that pay a minimal salary or if they're all on commission. Something to investigate.

WonderRandy · Jan 6, 2006

ummm... this thread is almost 3 years old. It might be better to start a new thread rather than confusing people... <img alt="" class="inlineimg" src="/images/smilies/huh.gif" style="border:0px solid;" title="

"><img alt="" class="inlineimg" src="/images/smilies/juggle.gif" style="border:0px solid;" title=":juggle:">

4Peace · Jan 6, 2006

Just let us know when we do something right.

Marie · Jan 6, 2006

There have been some huge bumps here lately.

jenna · Jan 6, 2006

Yes, there have been. Marie, your avatar is insanely scary and cute all at the same time. Your dog looks like an angry ewok! Or...Chewie!

4Peace · Jan 6, 2006

Yes, and the ones who respond to the bumps get the blame.

WonderRandy · Jan 6, 2006

no one is blaming or accusing or even chastising.... 
it was a simple suggestion, do with it as you please.

Skylark · Jan 6, 2006

4peace, who blamed you? I didn't see anyone saying you were responsible.

i'm thinking of becoming a real estate agent

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