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Old 02-29-2008, 08:37 PM
 
Location: Salem, OR
15,490 posts, read 40,186,319 times
Reputation: 17327

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Looks like I am the chump here, only working 40...call me a slacker I guess!
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Old 02-29-2008, 11:50 PM
 
Location: Moved to town. Miss 'my' woods and critters.
25,464 posts, read 13,523,237 times
Reputation: 31760
Lately only about 35 hours tops. Used to do much more when I owned my own company. Had to put in 60-70 per week, every week. My responsibilities were great at that time. Everything that my agents did, taxes, payroll, advertising. Plus the listing and showing of numerous properties. And at that time I closed many contracts in my office. I enjoyed it all. However it was very time consuming. Oh, yeah, this was before computers, blackberries, the cell phones as we know them today. I had a 'bag' phone in my car. Paperwork, paperwork Not so much anymore!
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Old 07-03-2012, 12:58 AM
 
Location: Sunnyvale, CA
3 posts, read 3,418 times
Reputation: 18
Right now I work from 8:00 am to 1:00 pm on the weekday with breaks in between for lunch only (no dinner - don't make enough to have that luxury. Have to pay the bills first.) and/or grocery shopping. I am trying to make it as a real estate agent getting educated on what I need to do, how to do it, creating ads with the hopes to test out the market for business and doing some BPOs.
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Old 07-04-2012, 10:04 AM
 
Location: New York
158 posts, read 522,042 times
Reputation: 158
There is NEVER enough time in this field. There is always another 3 hours I need for accounting, creating new spreadsheets, sending out mailers, blogging, taking video, new photos, TOUCHING BASE WITH SELLERS, taking more classes, working on my SEO, marketing, marketing marketing.... there is NEVER enough time in this field, never, ever, ever....
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Old 07-07-2012, 05:08 PM
 
Location: Louisville KY Metro area
4,826 posts, read 14,258,564 times
Reputation: 2158
10,000 hours!

40 hrs per week x 50 weeks per year (two for vacation) equals 2,000 hours per year x 5 years equals 10,000 hours. It takes 10,000 earnest hours to be to a point where someform of perpetual motion will deem you successful in real estate.

No matter when those 10,000 hours occur, whether 4 years, 5 years or 20 years, it takes 10,000 hours.
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Old 07-07-2012, 11:49 PM
 
Location: El Dorado Hills, CA
3,720 posts, read 9,952,247 times
Reputation: 3927
About 25-30 hours per week during the school year, 15-20 hours per week during the summer because I have a 6-year old son. Making every hour count is important. I'm having a great year and am happy with my income this year.
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Old 07-08-2012, 10:14 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,221,675 times
Reputation: 6468
Quote:
Originally Posted by tomocox View Post
10,000 hours!

40 hrs per week x 50 weeks per year (two for vacation) equals 2,000 hours per year x 5 years equals 10,000 hours. It takes 10,000 earnest hours to be to a point where someform of perpetual motion will deem you successful in real estate.

No matter when those 10,000 hours occur, whether 4 years, 5 years or 20 years, it takes 10,000 hours.
I feel like I did 10,000 hours just last month!

Cabo next week, perhaps there is at least some rest for the weary.
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Old 07-08-2012, 06:37 PM
 
Location: El Dorado Hills, CA
3,720 posts, read 9,952,247 times
Reputation: 3927
Hey DMenscha, we just spent the day in Big Trees Park. I'm sure we passed somewhere close to your area on our way there and back. What an absolulely beautiful area.
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Old 07-13-2012, 04:23 PM
 
8,071 posts, read 9,987,398 times
Reputation: 22604
I think anyone who 'works for themselves" (as in eat what you kill) is probably doing the 50-60 hours per week deal if they are making a decent living. I did the corporate thing for many years, rising to the level of president of the firm for which i worked, and that took 16-18 hours per day. There was a lot of international travel involved as well, so you never really knew when you would be home--weekends included.

Now i work for myself in the financial industry and do about 12 to 13 hours per day with very little travel, and flexibility outside of market hours to run here and there or spend time with my wife. It is rewarding, comfortable, and puts a smile on my face every day.

30-40 hours might work for some if you are very clever, and happen to do the right deals one after another. For people like me who aren't quite so clever it takes the amount of time i put in to generate business and financial satisfaction.
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Old 07-21-2012, 09:33 PM
 
1 posts, read 1,430 times
Reputation: 12
The fact of the matter is, depending on who you work for or with, you may end up being "on call" 24/7/365...

I've worked in various fields within the Real Estate Industry from new homes to title work to mortgages. Many allow the freedom of a 5 day work week with time for vacation and little interruption during "off hours" and days off.

Working in "general brokerage" (i.e. as an independent contractor with no base salary...100% commission) for a successful, busy agency/team, unless I turn off my phone or close my laptop, it is as I said above, communication is esssentially 24/7/365 - buyers are emailing at the last minute wanting to see property, leads are coming through at odd hours, sellers are looking for feedback on showings, etc.

My advice is that if you have the stomach for that, Real Estate is for you.

If you want to compromise your personal life and time off, Real Estate is for you.

If you won't be annoyed by early/late calls & emails and contact from colleagues/clients on days you expected to be "off", Real Estate is for you.

As others have stated, buying or selling a home is a major, life changing decision for people - so is relocating to a new town or city for school or work.

As someone who's lived in 10 different homes in the last 15 years (all rentals), never did I once seek a Real Estate Agent for assistance in finding a place. I found housing by myself - ads, rental buildings, apartment guides, etc.

As times have changed, technology increases and the generations become less self sufficient (lacking street smart), you can expect to do a lot of hustling if you are representing a prospective buyer and even more if you are working with someone trying to find a rental.

Rentals are on the rise in many cities - particularly transient areas with good job opportunities and a large number of universities or areas with high concentrations of careers that employ new folks annually or semi-annually (politics, medical, etc.)

Many have survived on rentals in this softer sales market. Typically, it is not a lot of money for what amounts to be a lot of work. Expect your profile "candidate" to be under 30, asking for the moon on a beer budget and very picky about what they want and where they'll live. You'll schlep them around on your gas dime, spend hours upon end looking at places for them based on their criteria and at the end of the day, you'll end up with what amounts to typically, at most, 1/2 month of the apartment's rent. Meanwhile you've probably spent half of that on mileage, cell phone minutes and paper.

My advice is to saddle yourself up with a good, established team that has strong connections and work primarily as a Seller/Listing Agent. Buyers and Renters will drain you very quickly if you aren't careful

Personality-wise, you've got to be "on" all the time. No bad moods. No flare ups. No attitude. If you get frustrated or stressed easily, suffer from any anxiety or even depression-issues, you've got an extremely rough ride ahead of you. As I said above, some fields within the business aren't as taxing as others but hustling to make money on commissions when you don't have a base salary and you are being contacted 'around the clock' can really take its toll.

If you're even-tempered, drama-free and actually ENJOY the prospect of helping people buy and sell (and rent) houses and can mask that you MIGHT just be money hungry and greedy (i.e. it's just about the money anyway), you'll go far.

Good luck.
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