gregorygarver.com

[RafiqP]

Hello, i'm thinking of getting my real estate license, but i have a question? Is it a good time to sell houses, because I heard the real estate market is going bad. So tell me if its a good idea to get into this business????

[stl_eliza_20]

It’s usually hard to get started in the real estate business no matter the market conditions.

[venicefloridarealtor]

If your passion is to be in real estate - go for it.But be prepared to work it HARD and FULL TIME.Then, before you launch your new career, be sure to save some $$$, because it will take some time to get started. 6-8 months income would be a safe bet, to keep the stress levels down while you are waiting for your first closing - and because you will be paying all kinds of business related costs up front, just to get started (MLS and local board fees, classes and test fees, licensing fees, errors & omissions insurance, marketing and advertising costs, computer, printer, general business supplies, etc.)Plan to spend at least $3,000 gearing up - more if you join a broker who charges desk fees.Make a business plan - if you've never done this before, go online for examples, contact a local SCORE volunteer, ask your banker, or your broker, once you get started. Plan your work, and work your plan!Go to class online or in person and LEARN your STUFF. Don't learn the minimum required to pass the tests. Your customers will be relying on you to be an expert, so soak it in. I would recommend attending classes in person so you get all your dumb questions answered immediately and to your satisfaction.Interview several brokers until you find one you like, that offers excellent training and support, has a congenial atmosphere, and a record of success - plus a good reputation. Ask what they pay for and what you will have to pay for.Then, get out there! Let everybody you know hear that you are in real estate now - shout it to the skies, email and snail mail everybody with your new business card, send out marketing materials and advertise yourself.Work your business plan.Find a mentor. Volunteer to sit Open Houses for other agents until you get your own listings. Get out and go to Broker Opens and learn the neighborhoods.And, remember, the idea of earning 6% commission on every sale - that's a fantasy.Think of the 6% commission as a pie. Let's say the sales price of the house was $200,000. 6% of that is $12,000, yes?So, 1/2 of the pie goes to the listing BROKER (not the agent) and 1/2 goes to the selling BROKER. That would be $6,000 to each side.Then, the BROKER shares their piece of the pie with the agents involved. Most agents get 50-60% of that piece of pie, depending on your individual deal. That means, you as the new selling agent might get $3,000 - minus your franchise fees, E&O insurance, and all of your related costs.If you get lucky, you might be both the listing and the selling agent, and earn $6,000 minus expenses, but you will never get the full 6% commission on any deal. And your commission income is taxable by Uncle Sam.Another way of looking at this is - if you sell $1Million in real estate, and you are essentially getting your 1/4 piece of the pie, you will earn $15,000 in commission, minus expenses. If your cut of the pie is larger, the income will be larger, but not as a new agent.Again, if this is your passion, go for it. Treat it like a real full time job, work it hard. But this is not a get rich quick program - or everybody and their dog would be a realtor!!!Good luck and best wishes

[AdamA]

Wow...a lot of overwhelming advice so far, huh? If I had it to do all over again, I would begin my career as a licensed (preferably salaried) assistant. If I was you, I would investigate working for a medium to top producer as either an office administrator, buyers agent, or listing coordinator. Maybe jump around from role to role over a course of a couple years to gain experience while also collecting a paycheck. Food for thought....Good Luck.

[theBigDog]

I definitely wouldn't say it's a bad idea to get into Real Estate it can be very lucrative! I know some people in the Real Estate bus. and they have done real well early on into it. Right now yeah the industry is really bad. Forecloses are really high and it's difficult for lots to get houses. The people I know are really struggling now. So I would say hold off on getting into it until things get better. For the time you could study and take your exam for your license. Also read up on how to close sales. If your serious and dedicated you defiantly should go for it. It won't always be easy but it does pay!

[Landwatch.com]

Though it is not all rosy for real estate agents but still those who have a passion can still make money in this business. Over the last few months I have seen many old ones bidding their farewell while many new highly competitive tech savvy young ones have entered the business. So it's all in you, if you are someone who isn't afraid to loose then be prepared to find success in here. All the best.