U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
Old 07-07-2013, 03:26 PM
Location: Mount Airy, Maryland
9,426 posts, read 5,213,065 times
Reputation: 14219


Sorry if this is a common thread topic. I was looking for a newbie board for such questions but did not see one so I appreciate your patience.

I am entering "mid life" and have been in sales my entire career. But it may be time I re-invent myself. Several friends who are in real estate insist I'd be great at it and have been encouraging me to give it a shot.

I understand that the first hurdle people need to overcome is the lack of a paycheck for 6 months or longer. Trust me we've prepared about as well as you can prepare for that, my job has been iffy for a while now, and we'll be OK for up to a year or so before we start cashing out things we don't want to cash out.

First step I would think would be to get certified (I live in Maryland), then comes the big decision on which agency to pick I assume. From what I know you are mentored by a broker who takes a percent for his/her time. I'm fine with that and I understand brokers like working with new agents. Is this true? Will I actually interview several and chose a broker or will I be lucky to find one willing to spend time with a guy like me?

My other concern is limiting my overhead. It's my understanding that the big guys like Long and Foster charge their agents a monthly "desk fee" or whatever in addition to a higher take on the commissions. This is to absorb the cost of their advertising etc. But with the internet I'm thinking the industry has changed and Long and Foster's edge over the smaller, local companies may not be worth the out of pocket expense for a new agent. But I may be wrong here, advice requested.

In addition is there any form of pay intern program where I can learn while earning a small check? Or is that more of an administrative duty that won't be realistic for a person trying to become an agent?

Finally in scanning this board it seems like the general consensus is to take the classwork online to avoid wasting time hearing meaningless questions. Are there good schools or bad ones to look out for, understanding this may be a regional question.

Thanks in advance. This is a scary time but also very exciting. You gotta be happy and I am simply not happy.
Reply With Quote Quick reply to this message

Old 07-07-2013, 03:45 PM
Status: "October is the eighth month" (set 21 days ago)
Location: Just south of Denver since 1989
10,679 posts, read 28,500,687 times
Reputation: 6842
read "the millionaire real estate agent" by Gary Keller- then shadow one of your friends for a weekend.
Reply With Quote Quick reply to this message
Old 07-07-2013, 04:22 PM
Location: DFW - Coppell / Las Colinas
29,945 posts, read 34,545,221 times
Reputation: 35938
And I would not take my classes on line.
I wanted to be able to ask those silly questions to someone with experience.

There are many good threads on here about starting.
I also had a Mid Life career change with RE and never looked back.

There is so much to learn to make you an expert and that is what people want to hire.

Never stop your education.
Reply With Quote Quick reply to this message
Old 07-07-2013, 09:38 PM
335 posts, read 561,785 times
Reputation: 412
there are several great threads on here about this subject where you can get a lot of info. But You should do a internship at a Real Estate Company while you are in school. I did one and they are paying for my exam and if i pass they may hire me.
Reply With Quote Quick reply to this message
Old 07-08-2013, 12:35 AM
4,472 posts, read 5,128,911 times
Reputation: 2007
I think you can find them at the bottom of a cracker jack box lol.
Reply With Quote Quick reply to this message
Old 07-08-2013, 05:01 AM
Location: Louisville KY Metro area
4,824 posts, read 12,482,479 times
Reputation: 2112
Just remember, what works for me, or John, or Jane, may not work for you. Never ever lose sight of the fact that this is your journey.

That being said, listen to opinions, learn from other peoples' experiences, and investigate. If it sounds too good to be true, it is.

Real estate is a business. Operate and act like such. If you don't deal well with accounting, learn. Never ever join a broker because they have great social events in the office. None is just as bad, but culture is at every brand.

Never ever join a firm on the first office visit. Ask questions, especially if you don't understand the broker's compensation package. It may be complicated but pay you more than anyone else's.

Brand name real estate firms do make it easier for newbies. Several brands teach that branding doesn't matter, that it is your personal brand that matters. Yes, your personal brand does matter, but it can take months and even years to achieve saturation.

Always remember that 50% of something is far more than 100% of nothing.
Reply With Quote Quick reply to this message
Old 07-08-2013, 07:21 AM
327 posts, read 644,081 times
Reputation: 250
Default Just Finished RE School..No Spring Chicken!

OP..I recently retired after a 30 year career in banking and am in my early 60's. Soon discovered that I can not stay home watching TV with my tenured retired spouse So I decided with my experience in finance and sales I would look into becoming an agent. Fearing that I would be a big fish out of the water I did not secure any broker relationships just in case I changed my mind. Yes it is costly for the choice.

Personally I would NOT take the RE Principals on line. It was very challenging for me even thought I had previously possessed security and insurance licenses in younger years.

I was the oldest student in the class outside of my wonderful instructor. I failed the national part and passed my state the first time. On the second pass I had success and graduated out of school. Now on to the tests that count, I studied for a solid three days and passed both the first time soon after RE school ended.

Now with confidence, license in hand I can take my time and go shopping for a home to hang my shingle. I have found though waiting until later in the year could subject me to paying more in fees to get started. ie..MLS etc is not prorated therefore I might have to pay it twice which is not cheap. The 2014 dues are renewal in December.

In closing I found preparing flash cards for each chapter very helpful in addition to purchasing Real Estate License Exams for Dummies was a great study tool. The school text I purchased made my eyes glaze over...I finished my course in 3.5 weeks though. Adapt a consistent studying habit early on...you will be thankful later.
Reply With Quote Quick reply to this message
Old 07-08-2013, 07:29 AM
2,091 posts, read 5,957,645 times
Reputation: 2145
Agree with tomocox that its your journey.

Choosing class or online is something you have to decide based on what you know about yourself and how you learn best.

First, study and pass your state exam. Ignore all other questions until that has happened. Within days of passing you will be deluged with postcards and letters from agencies all saying they are the most awesomest agency out there. Ignore them or interview with them. Their highest priority is getting money out of you so decide carefully which way you want to go.

Remember that you can jump ship at any time. So if you go to a broker that actually does offer excellent training and hand holding for less commission at the start, you can always leave and fly on your own when ready, and if you feel you can create your own following without a big name behind you.

You have sales experience, but to my knowledge its more of actually creating leads and a base, over time, that is the keys to success, unless you're in a really hot market.
Reply With Quote Quick reply to this message
Old 07-08-2013, 04:16 PM
Location: Mount Airy, Maryland
9,426 posts, read 5,213,065 times
Reputation: 14219
Thanks for the last few posts, this is EXACTLY why I came to this board. I am confused on the RE Principals class and the national test. I was under the impression that I only needed to pass the MD tests (legal and the other one) to be licensed here.

As for the school with a full time job I'm trying to determine the benefits of taking it slowly online vs the commitment of a classroom. I'm concerned if I take it online it will take 3 months of Saturdays and by the time the test rolls around I'll have forgotten what I learned at the beginning.
Reply With Quote Quick reply to this message
Old 07-08-2013, 08:56 PM
Location: Baltimore
1,759 posts, read 4,263,409 times
Reputation: 1192
I worked for long and foster in Baltimore before moving to my current position. My branch didn't charge desk fees but most start at a flat 50/50 split. Depending on your production and confidence, you could 'buy' your way up to higher splits and be reimbursed if you hit those hurdles.

I don't know if its like that across the board but I generally enjoyed my time with LNF. Once you become seasoned though it gets hard to justify giving them such a high split.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top