anyone a real estate agent?

[DreamGirlie]

was somewhat interested in real estate, I see you can do a class at almost any real estate place for fairly cheap and then take the exam and get a job as a real estate agent which seems all too easy.

I have family who are real estate agents and like it a lot, I was wondering if anyone wanted to share their opinion of the job.

So..hours, pay, hows the exam..hard/easy, etc etc.

[skahound]

Re: anyone a real estate agent?

I have my license. I don't practice but it will come in handy for family/friends. The Florida exam was pretty simple. I had taken 3 college courses in real estate though that allowed me to bypass the class offered by the state.

[DreamGirlie]

Re: anyone a real estate agent?

What do you mean it will come in handy for family/friends? What was the class like, a lot of memorizing?

[DJJEFFJONES]

Re: anyone a real estate agent?

Get your license and sent me some business!!!!! My current company (mortgage broker) is licensed in the main 48 states. I specialize in Indiana, Wisconsin and Michigan...

I need leads so hurry

[skahound]

Re: anyone a real estate agent?

What do you mean it will come in handy for family/friends? What was the class like, a lot of memorizing?

For when we, family, or friends are selling a house. I just parked my license with my father-in-law who is a broker so that made that a lot easier. I didn't have to take the state class but the courses I took at the university where I graduated were electives in my major so they were like any other class...only interesting.

[shosh]

Re: anyone a real estate agent?

Get your license and sent me some business!!!!! My current company (mortgage broker) is licensed in the main 48 states. I specialize in Indiana, Wisconsin and Michigan...

I need leads so hurry

who do you work for?

[toasty]

Re: anyone a real estate agent?

I'm not an agent myself, but I have a couple of close friends that are currently agents, and a even more close friends that have tried and failed. From that perspective, I can say this:

It is a highly competitive business most suitable for someone who is a self-starter and who works well independently. You will be largely responsible for creating and maintaining your own business, even if you are working under a larger brokerage house, like a ReMax, Century 21, etc. You need to have a plan in mind for developing a stream of business -- even within a brokerage, competition can be fierce and even a bit cutthroat, and you cannot expect that others you work "with" will be floating listings or buyers your way.

In terms of hours, it is kinda a catch-22 for people that like to enjoy themselves and go out a lot. On the one hand, it isn't the type of job where you're waking up at the crack of ass to do anything, nor are you likely to have many really late nights. Also, you've got a lot of flexibility. On the other hand, you can pretty much kiss your weekend days goodbye. Hours can be odd at times, and how busy you are will depend upon how much business you have and what time of year it is, as the real estate market is by its nature cyclical.

Because it is a commission-based deal and cyclical, you need to plan for ebbs and flows in business -- you can sell a few houses one month, and nothing for the next 6 months. Feast or famine.

One upside is that it gives you the opportunity to save money and have superior access as it pertains to your own real estate transactions, which can be great for purchasing investment property. This might make it worth it alone.

Unsurprisingly, my agent friends that are successful at it love it. My friends that tried it and were chewed up and spit out, though, will tell you that it's not for everyone. You've got to be aggressive to be successful.

My $.02.

[DreamGirlie]

Re: anyone a real estate agent?

This is an idea I have spinning around right now so you can take what you will from it


my bf owns his plumbing company...well most of the contractors he works for buy houses that need new plumbing, new kitchens, maybe sanded/varnished floors, some basic landscaping, cleaning up etc etc...nothing MAJOR but enough that the house is not buyable by a normal peson in the market. They then fix it up and resell it, best case witin a month two months max to earn the most. Flipping the house basically.

Well, he wants to start doing that. He would do the plumbing/heating at cost obviously and it would be free labor since he is doing it. Then all his buddies are all in the trades so he gets large discounts on labor. Plus I am very handy and would be involved in painting and other stuff etc.

So what I want to do is maybe get into real estate for a year or two, see how i like it. Then open my own real estate comp so to speak...MAYBE. Id get a heads up on houses for sale, he would then buy them, Id resell them. Make sense?

If that doesnt work then after selling for awhile i will work towards an appraisal license.?

[toasty]

Re: anyone a real estate agent?

You're probably aware of this, but I'll throw it out there, if not: they have rehabbers mortgages out there where you can finance the purchase price of the home you intend to flip + the estimated cost of improvements, secured by the anticipated value of the rehabbed home. In some circumstances, I think, you can only pay interest on the mortgage during renovation or not pay at all, with interest of course ticking along, but the mortgage brokers on this board would obviously know more about it than I, so I'll defer to them on this.

I just bought a gut rehab myself, so I have a certain affection for rehabbed homes right now. Sounds like a cool thing to do. Make sure you do some research on the market before you sink a lot of money into it, though, because I gather that some markets around the country are pretty soft right now. I would think that the market in Boston is always going to be pretty solid, particularly if you're restoring historic properties...

[lancecashion]

Re: anyone a real estate agent?

was somewhat interested in real estate, I see you can do a class at almost any real estate place for fairly cheap and then take the exam and get a job as a real estate agent which seems all too easy.

I have family who are real estate agents and like it a lot, I was wondering if anyone wanted to share their opinion of the job.

So..hours, pay, hows the exam..hard/easy, etc etc.

My wife is in real estate... the 1st year is tough. The exam is not that bad at all. Get in with the family and one of them to sponsor you. It ain't a job... its a business and a lucrative on at that

good luck

-Lance

[DreamGirlie]

Re: anyone a real estate agent?

^ Yea in cambridge/boston there is a TON of guttals going on and will continue to be for awhile. My bf has been doing the rehabs for over 10 yrs now, and he says the market as far as that aspect is fine...but to buy a ready no repair home is still high and not great. Hmm i will look into the rehab mortage never heard of it ill ask him too.

[anonin]

Re: anyone a real estate agent?

lot of good info in this thread

[toasty]

Re: anyone a real estate agent?

BTW, the rehab mortgage is a HUD 203(k) mortgage. Google that, and you ought to be able to find some info.

[runningman]

Re: anyone a real estate agent?

its funny that they are called "real" estate agents.. as opposed to estate agents... they are so crooked they have to call themselves real.. like i'm a real electrician..

[toasty]

Re: anyone a real estate agent?

its funny that they are called "real" estate agents.. as opposed to estate agents... they are so crooked they have to call themselves real.. like i'm a real electrician..

In defense of real estate agents, the "real" refers to the legal distinction between "real" and "personal" property. "Real property" is land and improvements thereto. "Personal property" is, in general terms, all of your shit -- cars, tvs, clothes, etc., any tangible things you own that aren't real property.

Hence the title.