Getting into Real Estate in the ATL? (Atlanta: sales, car insurance) - Georgia (GA) - City-Data Forum

arjay57 · 12-08-2016, 08:39 AM

(Forgive me if there is another thread on this but I did not find it).

How hard is it to crack into the real estate biz in the ATL?

Is the RE test hard to pass? Does it help to go to a RE school or can you just self-study?

Should you start off with an existing agency or can you just hang out a shingle?

What if you just want to buy and/or sell a few properties? Can you do this part time?

How much money does it take to get rolling and sign up for the MLS services?

Can you just advertise on sites like Zillow and Realtor.com and skip the MLS?

Is this a good time and a good town to get involved in RE?

Thanks for any advice!

arjay57 · 12-09-2016, 09:19 AM

Hate to be a pest but I've love to hear some advice on this. I'm looking for a second (well, maybe third or fourth) act.

PeteATL41 · 12-09-2016, 05:28 PM

Very very competitive. There are literally thousands of realtors in the city. If you have a good network, lots of patience, and don't need immediate income, then maybe...

The test is not that hard if you take the required prep course and study. Its even easier if you have a basic understanding on contracts and business law going in.

You need to join an existing brokerage. You can't open your own shop with the initial license and it will be very hard to get business in the beginning so you will need a lot of start up money even if you could get properly licensed. There is a lot of legal liability No one does this...

Yes you can do it part time...lots of agents are part time or do deals for themselves and family etc.

You need to join a brokerage and use MLS. Most of the other sites extract data from MLS and if you want others to sell your properties they must be in mls.

You need to join the board of relators once you hang your license at a brokerage. This costs a few hundred dollars per year. Keep in mind you are in independent contractor. RE offices will charge you for a desk and administrative support & will take a cut of your commissions.

arjay57 · 12-10-2016, 07:25 AM

Pete,

Thank you SO much! That is exactly what I was looking for.

I may take the test and see if I can hook on with somebody.

If I'm only doing this part time is it feasible to work from home? I've got a conference room and space for support staff if needed.

PeteATL41 · 12-12-2016, 05:37 PM

Sure you can work from home. My wife is a realtor, and she works from home more than half the time. Keeping it part-time is hard though. Once you get busy, hours are unpredictable and can be long.

arjay57 · 12-12-2016, 06:23 PM

Quote:

Originally Posted by PeteATL41

Sure you can work from home. My wife is a realtor, and she works from home more than half the time. Keeping it part-time is hard though. Once you get busy, hours are unpredictable and can be long.

That I understand! Although I'm still working part-time in my day job, it often seems like full time. My home office is in another building and the fact that you have to "commute" 100 feet actually helps to keep things separate. Hopefully I can transition into something new within the next couple of years.

dblackga · 12-12-2016, 07:10 PM

The Georgia Association of Realtors has over 29,000 members -- 2/3's of whom practice in the Atlanta metro area. Do the math. :-)

Most people take a live course, to gain the immediate feedback of the instructor/classmates on issues that may arise. After working in mortgage and real estate for 20+ years, I took an on-line class with little trouble, coupled with a live 2-day "cram course" before I took the state exam. And after the 75-hour class and exam, you still have to take another 25-hour post-license course, which begins to scratch the surface of the nitty-gritty that a new sales person needs to know in order to practice real estate.

Keep in mind, though, that the real estate course does NOT teach you how to be a real estate agent. :-) The online class I took had a contract form that was 6 years old -- and they change EVERY YEAR, so it was badly dated (I was told that that was not a problem as the "concepts" remained the same. Yeah . . .) It is as a new agent in a training-oriented brokerage that you receive the hands-on experience that you need to be successful. Otherwise, you'll just be another statistic that drops their license in a couple of years. You can't apply for a brokerage license for at least 3 years after you get your salesperson license, so you're going to have to work for a brokerage. Find one that offers LOTS and LOTS of training. Some new agents start out as buyer agents for experienced agents. Some just jump in with both feet and just take off.

It is not a part-time job, if you are aiming at making this a career. Sure, you can probably do a deal or two a year from friends and relatives (who will probably demand that you cut your rates for them and give them a "friends and family discount."), but after you pay for your license, board fees, and pay your cut to the brokerage, gas, car insurance, taxes, etc., etc. -- that lovely 3% commission check gets chopped up very, very quickly. :-)

arjay57 · 12-12-2016, 07:29 PM

dblack, thank you!

I can see that I'm getting the straight skinny from folks who know whereof they speak. Which is exactly what I need to know!

The advice here is invaluable.

ATLTJL · 12-12-2016, 11:56 PM

I've thought about this for so many years.

But everybody I have talked to says the best way to start out is by tapping your personal network. So you have to be that stupid obnoxious friend that always tells everybody, "if you're ever looking to sell or buy, call me!"

I guess if you're really skilled at marketing, there are ways to do it without everybody thinking you are a giant jerk. But it's probably tough to get someone you don't know who is willing to trust you when you don't have much experience.

Of course, with all the gigantic losers out there who are doing it, how hard could it possibly be to be better than at least half of them from day one?