U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
 [Register]
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)
 
Old 01-20-2014, 08:07 PM
 
Location: Great Lakes region
417 posts, read 988,012 times
Reputation: 365

Advertisements

I'm 52 and suddenly find myself having to make my own living. The only career that even remotely interests me is Real Estate, but given the economy & housing market, I'm not sure if it would even be worth pursuing. Any insight on the expense of obtaining a license -vs- possibly making a living in this field in the Chattanooga Tennessee area would be appreciated.
Reply With Quote Quick reply to this message

 
Old 01-20-2014, 09:28 PM
 
Location: DFW - Coppell / Las Colinas
32,019 posts, read 36,653,418 times
Reputation: 38654
It can cost several thousand and take 1-3 years to build your business to get a decent income.

Do you have the assets and funds to get by for a year with an income of only maybe $15-25k your 1st year ?
Reply With Quote Quick reply to this message
 
Old 01-21-2014, 08:01 AM
 
Location: Cary, NC
33,652 posts, read 58,376,323 times
Reputation: 32374
OP:

SAVE YOURSELF! It's already too late for the rest of us!

On the other hand...
I would heartily suggest you pose your question in the Chattanooga forum, or at least in the Tennessee forum.
http://www.city-data.com/forum/chattanooga/
Chattanooga seems a little quiet on CD.

I really don't know licensing costs and time frame in Tennessee, but generally in all markets:
You will be going into business, as a self-employed person. You will have expenses.
Plan to have capital to start and several months' savings in your personal account for living expenses while you get off the ground.
Talk to local firms about how they help new agents get started.
Consider associating with a team as a licensee to get your feet on the ground.
Reply With Quote Quick reply to this message
 
Old 01-21-2014, 10:28 AM
 
Location: Louisville KY Metro area
4,824 posts, read 12,807,884 times
Reputation: 2116
Quote:
Originally Posted by us2indaup View Post
I'm 52 and suddenly find myself having to make my own living. The only career that even remotely interests me is Real Estate, but given the economy & housing market, I'm not sure if it would even be worth pursuing. Any insight on the expense of obtaining a license -vs- possibly making a living in this field in the Chattanooga Tennessee area would be appreciated.
If I may, I have family in the south central Tennessee area. One of my cousin's daughters is active in Coffee County.

I have a very dear friend who about the age of 30, found herself the single mother of three boys. One of those boys was disabled. She has shared that she was not about to find a job for which she was qualified for that would pay her enough to raise her children. Today, she is a leading REALTOR in her early 50's and very proud of her decision to enter the real estate business.

You are so young! 52 was a great year for me to be alive. It had it's tragedies, but a very good year for my business.

Now, I am assuming that you are a single female. If I am mistaken, please accept my apologies, but if correct, there is no better place for you to be than a cold, slow real estate market. It's the time to get in. Nearly every Realtor will personally sell between 24 & 48 transactions per year maximum. If the market is cold, fewer Realtors will sell the same personal number. If the market is hot, more Realtors will be competing for and handling about the same number of transactions per agent.

Now, here is my recommendation. Go get a job in a furniture store, a home improvement center, etc. Don't worry about more than just enough money to pay for as basic of a living situation as you can find. Eat peanut butter sandwiches and dine on oatmeal for breakfast, drink water instead of soft drinks, etc.

Then find you a top team in Chattanooga. Go, learn, and get paid a very unfair share of the commissions earned.

As I told a lady yesterday concerned that she wouldn't be able to make a living if she leaves her abusive husband, go learn to drive a semi, then sleep in the cab if necessary.

You can do this. There is no place where you will be able to make as much money without an education or extreme investment as you will in real estate.

I am open to helping you all that I can. Private message me if you want my contact info.
Reply With Quote Quick reply to this message
 
Old 01-22-2014, 06:45 AM
 
Location: DFW - Coppell / Las Colinas
32,019 posts, read 36,653,418 times
Reputation: 38654
OP, my appologies that this thread was hi jacked without a decent discussion on you becoming and agent.

Yes, if you have the resources that can help support you while you build your business, then go for it.
You could build it and have a nice part time gig as you get into retirement.

I started when I was about 45 and now that I'm older I look forward to it continuing part time later in my older years.

Best of luck and sorry for all the ramblings above.
Reply With Quote Quick reply to this message
 
Old 01-22-2014, 10:33 AM
 
Location: Great Lakes region
417 posts, read 988,012 times
Reputation: 365
Quote:
Originally Posted by Rakin View Post
It can cost several thousand and take 1-3 years to build your business to get a decent income.

Do you have the assets and funds to get by for a year with an income of only maybe $15-25k your 1st year ?
LOL - I had to laugh on that. I get by on a lot less than that now, so $15k would be like hitting the Lotto for me! Incidentally, I'm only looking into getting a license and working part time with an established firm, I have no intention of giving up my $8 an hour day job. No pie-in-the-sky pipe dreams of setting up my own office of going into business, I have no interest in that. It's the selling aspect that interests me.
Reply With Quote Quick reply to this message
 
Old 01-22-2014, 10:37 AM
 
Location: Great Lakes region
417 posts, read 988,012 times
Reputation: 365
Quote:
Originally Posted by Rakin View Post
OP, my appologies that this thread was hi jacked without a decent discussion on you becoming and agent.
Best of luck and sorry for all the ramblings above.
No worries - I didn't even read the posts that had no relation to my quest for advice! Things sure gett off track on these forums, don't they!
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.


Reply
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
Message:

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. The time now is 04:53 PM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

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