Hmm been thinking about this lately. I've become quite a good at talking to people, selling etc. and I think this might be a good career, post dancing. What does it take? Is it worth it?
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Hmm been thinking about this lately. I've become quite a good at talking to people, selling etc. and I think this might be a good career, post dancing. What does it take? Is it worth it?
In Oregon, there is a 6 week class you have to attend, then you have to take a test to get licensed. I think the cost of everything is less than $1,000.00.
Depending on the particular state you live in, there's a big difference between obtaining a real estate Salesperson's license and a real estate Broker's license. The Salesperson's license basically lets you work as an employee for an established real estate firm, while the Broker's license allows you to work as a partner in an established real estate firm or hang out your own 'shingle'. In my old state of New York, the real estate Broker's license program involves a minimum of 48 hours worth of classroom time ... and the cost is in the $1,000 ballpark. But the real estate Broker's license program pre-requisite is 75 hours worth of classroom time to first complete the real estate Salesperson's license program ( again around $1,000 ), plus obtaining a state real estate Salesperson's license ( which is little more than a formality ), plus working for two years as an employee of an established real estate firm.
After passing the school's final exam, it's also necessary to take and pass a state professional license exam to obtain the necessary state professional real estate Broker's license. However, unlike the Salesperson' license ( which is issued by the same state agency that licenses cabdrivers ), the professional Broker's license is 'serious business' and involves passing an in-depth background check performed by the state professional licensing agency ( the same agency which issues licenses to doctors, attorneys, CPA's, engineers etc ).
I've sold real estate for the last 10 years. I know of a handful of girls that worked at the Cheetah & got their license & they've done very well. In my state you can sell real estate for a builder & not need a license, you may want to look into that.
It depends on the State.
My BFF got hers in Florida. The test was HARD, she passed with a top score. But I do know many who failed it several times. She had books that were Thick of info she had to learn.
She is smart, a great sales person & a hustler. Yet, she was ripped off by her 1st broker & lied to by him on many things, including illegal things. She was called by the FBI just a short few months in. Ended up walking away from 5 listings cause they belong to the broker & NOT you if you decide to leave. Be very leery of the first few brokers who approach you after graduating.
Success in it isn't easy. Getting listings or buyers is hard. But many go the route of finding people apartments or leasing a place to have steady money coming in.
She cold call a hundred people a day. Several times a week goes door to door knocking on doors to see if people are selling, buying or have a family member or friend who is.
It isn't just about how much it cost to become one, but you have to pay a broker to hang your license there, to have office space. It cost money to run ads. It cost money to list a house, advertise it, have house openings. This is money YOU put out, NOT the owner. You don't get any of it back if the house doesn't sell. Not an easy thing to do, lay out money when you don't have any sales yet. You have to invest in door hangers, signs, business cards not to mention wardrobe. An expensive car is a must buyers & sellers don't trust or work with people who don't have one.
Especially in the beginning you have to take many classes to get better & to know the in's & out of that biz. Heck, that is another money making level in that biz that is just unbelievable. Those classes & seminars can cost hundreds to thousands of dollars that ALL comes out of your pocket.
If you get a person to list with you & they believe their place is worth way more than the current market, it is impossible to convince them otherwise. Especially since many bought at the top of the market & don't want to take any kind of loss. Thus any money you spend listing, advertising, open houses on a place more expensive than the CURRENT market is a LOSS.
Can you be a success? YES but do plenty of research before getting into it to make sure it is the right fit for you. Many strippers do well at it. Selling is selling & stripper KNOW how to sell.
Good Luck,
Sam
^ Very true. I'm in Florida and the test has a 70% fail rate the first time. Take it right away. The people I know that fail wait too long to take it.
1. Decide in which state you want to be an agent
2. Search for that states’ real estate licensing agency.
3. Read the requirements for licensing.
4. Find an online real estate school, or a school near your location, find out how much the classes cost and how long it will take.
5. Talk to some real estate agents and brokers. Most people who get their salesman license are out of the business in less than a year.
In California, you have many option after you graduate from your real estate salesperson program.You could hang your salesman license with Timeshare company in order to become a timeshare salesperson. In addition, you could also hang your license with bank in order to become an loan officer. Many of these places allow for the real estate salesperson to have both salaried positions while earning your commission. I started my budding real estate career by going to online real estate program in San Diego and passing my real estate salesperson courses. In addition, I had an real estate salesperson internship and a real estate mentor before deciding on my real estate speciality. I hope this helps you decided what path in real estate you want to go down.
It's been forever since I logged on, but just burning some time.
I got my RE license in Oh in July. Getting a license will cost you money. If you want to make money that is another story. So walking thru this.
I had to have 120 hrs of class room training 3 weeks in a class room about $1400
To take the test, you must be sponsored by a broker who will supervise you and be accountable for your actions to the public. That is not hard as just about any RE agency will sponsor you. The test is less than $200 if I recall
The importance of picking the right broker/firm is critical and it determines if you are flushing your time and money down the toilet.
Re/Max wants to poach experienced agents and scale commission with a monthly charge.
If you want 95% of the 3% fee, you pay them a monthly office fee of $995 and $195 for each transaction
It scales to 70% ================================ $230 and $195 =========
Keller Williams will probably assign you to a team and you will get 50% and the office fee will be less.
I am with a firm where I get 70% and pay $50 office fee .
Now you are affiliated but wait! You will probably need to join the local MLS and the National/State/Local association of realtors. $1000+ /year
You may now find that you spent a lot of money, now start marketing. budget $1000 / month to generate leads thru mailings, internet leads, website development, etc.
If a lead comes in thru your firm, be ready to see you get reduced commission. If it is a relocation lead, probably 25%f y is what you will get of 3%, So a $100,000 sale is $750 in your pocket before expenses
The most important thing a broker will give you is training. Talk with other new agents and the manager to see what their program covers and when.
Lastly, those little old ladies who have been around for 20 years selling real estate are fucking vicious. The will tear off your head and pee down your throat and not blink.
That said, if you can stick 3-5 years, you can make some money.
So glad to see Melonie still on-site. In case you guys haven't figured it out, she is the AI module behind SIRI.
It's been forever since I logged on, but just burning some time.
I got my RE license in Oh in July. Getting a license will cost you money. If you want to make money that is another story. So walking thru this.
I had to have 120 hrs of class room training 3 weeks in a class room about $1400
To take the test, you must be sponsored by a broker who will supervise you and be accountable for your actions to the public. That is not hard as just about any RE agency will sponsor you. The test is less than $200 if I recall
The importance of picking the right broker/firm is critical and it determines if you are flushing your time and money down the toilet.
Re/Max wants to poach experienced agents and scale commission with a monthly charge.
If you want 95% of the 3% fee, you pay them a monthly office fee of $995 and $195 for each transaction
It scales to 70% ================================ $230 and $195 =========
Keller Williams will probably assign you to a team and you will get 50% and the office fee will be less.
I am with a firm where I get 70% and pay $50 office fee .
Now you are affiliated but wait! You will probably need to join the local MLS and the National/State/Local association of realtors. $1000+ /year
You may now find that you spent a lot of money, now start marketing. budget $1000 / month to generate leads thru mailings, internet leads, website development, etc.
If a lead comes in thru your firm, be ready to see you get reduced commission. If it is a relocation lead, probably 25%f y is what you will get of 3%, So a $100,000 sale is $750 in your pocket before expenses
The most important thing a broker will give you is training. Talk with other new agents and the manager to see what their program covers and when.
Lastly, those little old ladies who have been around for 20 years selling real estate are fucking vicious. The will tear off your head and pee down your throat and not blink.
That said, if you can stick 3-5 years, you can make some money.
The comment about selling for builders is spot on. An employee of a builder does not have to be licensed. You learn to sell real estate without the upfront investment.