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Old 02-01-2012, 07:23 PM
 
33 posts, read 121,092 times
Reputation: 46

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Hello everyone, I am a 18 year old that is going to graduate from high school in a couple of months. I am highly interested in real estate and am seeking information on the real estate market.

I live in LA county in the La Verne/Claremont area and I was wondering how my local market is right now and if it is a good time for a young inexperienced person to get into the field. I have a couple of brokerages in mind that I am interested in after I get my license, however; they will tell me whatever I want to hear and I want to be 100% sure I am making the right decision.

Thank you in advance for any information anybody can give me on the subject. Like I said, I am a "rookie" and am getting my license in a couple months so forgive me for my lack of knowledge of the field!
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Old 02-01-2012, 07:26 PM
 
11,715 posts, read 40,463,512 times
Reputation: 7586
The business is shedding agents as market activity is low. Will you parents be supporting you while you work for free?
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Old 02-01-2012, 07:34 PM
 
33 posts, read 121,092 times
Reputation: 46
Quote:
Originally Posted by EscapeCalifornia View Post
The business is shedding agents as market activity is low. Will you parents be supporting you while you work for free?
I have a part time job to support me while I get going in the field.
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Old 02-01-2012, 07:48 PM
 
28,115 posts, read 63,698,390 times
Reputation: 23268
Have several Brokers in my family...

There are always those that make it in any market... and many more that don't...

My brother is just as busy as ever... his income has dropped because the selling prices are lower... he still does very well.

He is successful because he knows the business and takes care of his clients...

It doesn't hurt that he has a very supportive wife and has been coaching youth sports for 25 years...

So many of the kids come back to him when they marry and are looking to buy... he also gets a lot of business from the families he coaches as older folks downsize and move away...

Another important aspect is he has a very good team of professionals with some going back more than a decade... contractors, roofers, painters, title officers, bankers, lenders... etc.

One thing to remember is each time you go out to sign up a client is a new job interview...

Cannot underestimate the value of a supportive family... he has lots of free time to take the kids to school and spend time with them... nights and weekends will find him working...

Another family member has never brokered a home... he is strictly commercial sales and management and does well too because of the contacts he has developed through the years...
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Old 02-01-2012, 08:15 PM
 
33 posts, read 121,092 times
Reputation: 46
Quote:
Originally Posted by Ultrarunner View Post
Have several Brokers in my family...

There are always those that make it in any market... and many more that don't...

My brother is just as busy as ever... his income has dropped because the selling prices are lower... he still does very well.

He is successful because he knows the business and takes care of his clients...

It doesn't hurt that he has a very supportive wife and has been coaching youth sports for 25 years...

So many of the kids come back to him when they marry and are looking to buy... he also gets a lot of business from the families he coaches as older folks downsize and move away...

Another important aspect is he has a very good team of professionals with some going back more than a decade... contractors, roofers, painters, title officers, bankers, lenders... etc.

One thing to remember is each time you go out to sign up a client is a new job interview...

Cannot underestimate the value of a supportive family... he has lots of free time to take the kids to school and spend time with them... nights and weekends will find him working...

Another family member has never brokered a home... he is strictly commercial sales and management and does well too because of the contacts he has developed through the years...
That's great news. I have a brother that works exclusively in commercial sales in the High Desert area and is doing great as well. I am interested in making this a long time career and eventually want to become a broker. You are spot on about having a supportive family, that is actually why I am considering getting in RE because of my brother.
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Old 02-01-2012, 08:20 PM
 
28,115 posts, read 63,698,390 times
Reputation: 23268
Quote:
Originally Posted by vceja09 View Post
That's great news. I have a brother that works exclusively in commercial sales in the High Desert area and is doing great as well. I am interested in making this a long time career and eventually want to become a broker. You are spot on about having a supportive family, that is actually why I am considering getting in RE because of my brother.
I'm not sure what it is now... a few years ago their Christmas list was over 1200

Everyone my brother represents is added to the list and his wife manages it...
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Old 02-01-2012, 08:22 PM
 
33 posts, read 121,092 times
Reputation: 46
Quote:
Originally Posted by Ultrarunner View Post
I'm not sure what it is now... a few years ago their Christmas list was over 1200

Everyone my brother represents is added to the list and his wife manages it...
Wow that is quite a list! I can't wait till' I have a database like that one day.
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Old 02-01-2012, 10:04 PM
 
4,538 posts, read 10,634,297 times
Reputation: 4073
I think you are picking the very worst time in my life to enter the real estate market. Expect minimal sales and a depressed market for 5-10 more years. That bubble that burst in 2006/2007(and make no mistake, its a bubble with artificial levels that will not likely be reached again in inflation adjusted terms in our lifetime) reached unfathomable heights and any recovery probably won't start until it reaches unfathomable lows first.
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Old 02-02-2012, 04:38 PM
 
184 posts, read 353,733 times
Reputation: 92
If you have a passion for something you can do it in any market. Plus I don't think we are too far away from a turnaround and another bubble developing possibly. If you start now, when the market turns around you'll be in a better position than someone trying to get into the "hot industry" of the moment. I think you should view it that way.
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Old 02-02-2012, 08:09 PM
 
11,715 posts, read 40,463,512 times
Reputation: 7586
Quote:
Originally Posted by bophisto View Post
If you have a passion for something you can do it in any market. Plus I don't think we are too far away from a turnaround and another bubble developing possibly. If you start now, when the market turns around you'll be in a better position than someone trying to get into the "hot industry" of the moment. I think you should view it that way.
Really?



REALLY?
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