Looking to get involved in Real Estate

  1. You have chosen to ignore posts from rodman75. Show rodman75's posts

    Looking to get involved in Real Estate

    I'm looking to get involved in Real Estate and am going to take the courses in hopes of becoming an agent.  What can I expect from the course, test and afterwards.  Is it easy to find an office to take you in and if so, how easy/difficult is it to get listings or make any money.  This would not be a career change for me but something that I would be doing in addition to my full time job.  Any advice or suggestions are welcomed.  Thanks in advance

     
  2. You have chosen to ignore posts from isabellac3017. Show isabellac3017's posts

    Re: Looking to get involved in Real Estate

    In Response to Looking to get involved in Real Estate:
    I'm looking to get involved in Real Estate and am going to take the courses in hopes of becoming an agent.  What can I expect from the course, test and afterwards.  Is it easy to find an office to take you in and if so, how easy/difficult is it to get listings or make any money.  This would not be a career change for me but something that I would be doing in addition to my full time job.  Any advice or suggestions are welcomed.  Thanks in advance
    Posted by rodman75


    I would be happy to answer any questions you have.  I have been in the business
    for twenty years and counting.  Feel free to contact me at Isabellac3017@aol.com.
     
  3. You have chosen to ignore posts from BrokerMike. Show BrokerMike's posts

    Re: Looking to get involved in Real Estate

    Being a Broker (after being an agent for many years) and now managing agents (both good and bad), real estate boils down to basically: Who you know - the number of people you personally know - and the number of people who trust you. The greater these numbers and the better you are at reaching out to them, the better you will be, as you will get no sales leads when you are a new agent (and not too many - if any - the longer you are at an agency, unless you are part of the inner circle).

    Second. I've seen very little difference between real estate agencies, as they all want you to work for them so that you can pay their light, heat and rent! How:
    By starting you off on a lousy commission split - usually 50/50%.
     

    You will pay a desk fee, technology fee, administrative fee. The list of fees is endless and you pay them whether or not you use any of them. Even if an office doesn’t charge one or more of these fees, they will take it out somewhere along the line. It is know as “off the top”.

    I will say that many "franchise" or "sole proprietor" offices usually operate hand to mouth, so if I were you, I would go to an office of one of the national chains, as they would have the most agents and the most open house opportunities for you to meet prospective buyers and sellers, which is 99% of the purpose of holding open houses. The other reason for open houses is to advertise the office by placing OH signs all over town. Reason? The public will remember the company long after you are gone, but it is your time, effort and expense!

    The real estate selling business model is a very, very last century model and as it is with any old and outdated industry, will go down with the ship and be resistant to any changes unless forced upon it. Many still advertise in print, so you will pay your share of the office advertising - in most cases.

    Keep in mind that the industry is there for itself. Not for the greater good of you, the agent, or for the buyers and sellers. All you have to do is speak with a buyer who told their agent everything about themselves, only to find that all that information was then used against them, as their agent then told the listing agent!

     
  4. You have chosen to ignore posts from isabellac3017. Show isabellac3017's posts

    Re: Looking to get involved in Real Estate

    In Response to Re: Looking to get involved in Real Estate:
    Being a Broker (after being an agent for many years) and now managing agents (both good and bad), real estate boils down to basically: Who you know - the number of people you personally know - and the number of people who trust you. The greater these numbers and the better you are at reaching out to them, the better you will be, as you will get no sales leads when you are a new agent (and not too many - if any - the longer you are at an agency, unless you are part of the inner circle). Second. I've seen very little difference between real estate agencies, as they all want you to work for them so that you can pay their light, heat and rent! How: By starting you off on a lousy commission split - usually 50/50%.   You will pay a desk fee, technology fee, administrative fee. The list of fees is endless and you pay them whether or not you use any of them. Even if an office doesn’t charge one or more of these fees, they will take it out somewhere along the line. It is know as “off the top”. I will say that many "franchise" or "sole proprietor" offices usually operate hand to mouth, so if I were you, I would go to an office of one of the national chains, as they would have the most agents and the most open house opportunities for you to meet prospective buyers and sellers, which is 99% of the purpose of holding open houses. The other reason for open houses is to advertise the office by placing OH signs all over town. Reason? The public will remember the company long after you are gone, but it is your time, effort and expense! The real estate selling business model is a very, very last century model and as it is with any old and outdated industry, will go down with the ship and be resistant to any changes unless forced upon it. Many still advertise in print, so you will pay your share of the office advertising - in most cases. Keep in mind that the industry is there for itself. Not for the greater good of you, the agent, or for the buyers and sellers. All you have to do is speak with a buyer who told their agent everything about themselves, only to find that all that information was then used against them, as their agent then told the listing agent!
    Posted by BrokerMike


    Broker Mike:

    Much of your post is true, but not all.

    It sounds as though you're not happy with your work, as there was not one positive thing in your post. I'm sure that over the years you've had many
    positive experiences. Why not focus on those?

    As with any job, there is both positive and negative.  How can you possibly
    do a salesman's job and train other agents with such negativity?
     
  5. You have chosen to ignore posts from BrokerMike. Show BrokerMike's posts

    Re: Looking to get involved in Real Estate

    In Response to Re: Looking to get involved in Real Estate:

    That is one way of looking at things and a simplistic one at that, though no offense meant. Not one thing I said is not true and it was only the tip of the iceberg.

     

    Unlike the brokers I started out working under, who said anything to get as many dues paying people to join the office, I believe that I should tell the truth to anyone thinking of embarking on a residential real estate job. This industry is too dominated by “feelings” and “overly emotional” people and not by enough people who are provided with much if any guidance, esp. when they first start out. It is better to let them know what truly goes on so that they can take make an intelligent decision to come here and put in the necessary time, effort and their own money into making it possibly work for them. Many should not consider residential real estate, but commercial real estate instead.

     

    You and I know that this industry has many people who came into it with their only qualification being that they “like houses”and are a not businesspeople – which is what this job is, since all agents are independent contractors running their own business. Yet, there is maybe 1 in 50,000 agents who actually ran their own business in the past, so they quickly go out of business in our business.

     

    It is a job - often a part time job for many agents - as everyone in the industry knows. I point out the good and the bad, the upside and the downside and try to remove any of the starry eyed, quick-buck people who often populate real estate offices. I believe that it is better to tell the truth, warts and all (and every industry has both). However, this industry does it’s very best to hide them, probably so they can get as many dues paying people to feed the lobbying machine. If agents were salaried employees with commission, rather than the burden being on them by relying solely on straight commission, many of the public perception issues we have would go away. Such as the surveys which always rank us as low or lower than used car salesmen.

     

    I’m not a Socialist and I don’t know about you, but I think it is criminal that around 3% of agents nationally make $100K+ (not counting expenses, taxes, paying for their own health insurance, 401K and retirement) and the other 97% gross under $30K - $40K, so after expenses and the hours worked, they would have been better off working at Wal-Mart. We are talking about real human beings and them having to cope with the cost of living and feeding their families.

     

    Divide the number of agents into the number of homes sold in any neighborhood, town, city or State, and then come up with a good reason why we have so many agents? To whose benefit is that for?

     

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