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Hello I just started out in real estate at a very young age (21) and am working for century 21. I need quicker cash this summer because I have to go back to school in fall to finish up my last year. Now do not get me wrong, when I say quick I do not mean easy money. However I mean quick in the sense that I am going to focus on rentals instead of houses. Before I got my real estate license I helped a friend that already had his by getting those wanting to rent out their places to let him work for him by taking pictures and showing the place. Should this be my strategy right off the start? Should I cold call people and try to get them to work with me? I am not getting much help since I am new and I feel like this is the best way to start out. What do you guys think?
You shouldn't focus exclusively on rentals, however, you can market yourself to renters to keep yourself busy while you're pursuing listings/buyers. While some rental deals can go quick, some can take a lot of time, and some renters can be flaky. It's not easy money by any means, but the transactions can go a lot quicker than your typical escrow. Throw a couple of ads on craigslist and get your feet wet. It's decent practice for a new agent and it can lead to referrals down the road.
You can also ask around your office if there are any teams looking for new agents to help them on the buyer side.
I had a similar philosophy starting out a couple months ago, also with C21... Have not made a single rental, after close to 50 showings. I Have two buyers under contract, and just got my first listing, with only a fraction the effort.
Do not work with Renters if you want to make money soon. In fact, you should actually have some reserve savings if considering becoming a realtor. Some Realtors dont make a sale their entire 1st year.
If I wanted to make quick money in your situation, I would be affiliated with a big firm with a lot of agents.
I would meet every producing agent that I could and I would ask about grunt work and entry-level opportunities, to learn, and to make some money helping them.
It won't make you rich, but it may well be better than chasing renters and landlords. And you might get some good experience to carry forward, as well as earning some brownie points.
Real Estate is a business where you grow successful over time. It is not a "get rich quick" business. If you need to work over the summer to pay for expenses when you go back to school in the fall, find a job with a steady, guaranteed paycheck. A new person will find their pocketbook drained with not much to show for it for the first 6 months to a year. Eventually, you should start seeing a benefit but it comes after a heck of a lot of effort. Heck, even if you got a house under contract today it would most likely be mid-July until it closed.
Hello I just started out in real estate at a very young age (21) and am working for century 21. I need quicker cash this summer because I have to go back to school in fall to finish up my last year. Now do not get me wrong, when I say quick I do not mean easy money. However I mean quick in the sense that I am going to focus on rentals instead of houses. Before I got my real estate license I helped a friend that already had his by getting those wanting to rent out their places to let him work for him by taking pictures and showing the place. Should this be my strategy right off the start? Should I cold call people and try to get them to work with me? I am not getting much help since I am new and I feel like this is the best way to start out. What do you guys think?
If you need fast cash go work at Walmart or McDonalds and do your Real Estate on the weekends which is when many people look for homes anyway.
If I wanted to make quick money in your situation, I would be affiliated with a big firm with a lot of agents.
I would meet every producing agent that I could and I would ask about grunt work and entry-level opportunities, to learn, and to make some money helping them.
It won't make you rich, but it may well be better than chasing renters and landlords. And you might get some good experience to carry forward, as well as earning some brownie points.
Agreed. I suggest that if you aren't getting much support find an agent you can help out and learn from as an assistant then go out on your own later.
If you need fast cash go work at Walmart or McDonalds and do your Real Estate on the weekends which is when many people look for homes anyway.
No, please do the rest of us serious Agents a favor and don't even bother if you only work on weekends. Buyers may or may not only be available on the weekends but the rest of the paperwork, inspections and thousands of other details get done during the week. You can be a part time agent and make this business work but nothing is worse than working with an agent that you can only get in touch with during certain hours of certain days.
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