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Hi. I am thinking of studying to become a realtor. My son will be starting kindergarten in the Fall and I know I'm no good staying home. What can you all tell me is the best and worst things you've experienced in joining this field? How expensive are the classes? Is it all weekend and evening work or can you somewhat control it? I REALLY appreciate your help.
By the by, my husband, mother, her husband, and my whole entire family say I must do this. I am obsessed with real estate. We just bought a new house and I can't stay away from the listings. They worry I want to move. I don't. I love HGTV shows. I would love to find people their dream home. I think I got this in my blood. If I don't do it now, someday.
Well first, it's not like HGTV. Those shows are very unrealistic. I'm going to give you the blunt truth. It may not appear it when you read below, but I love my career and couldn't imagine doing anything else.
Real Estate is very hard, is loaded with legal pitfalls, has no guaranteed income, and is expensive to be in. It is very difficult to control your schedule if not darn near impossible. The best way to control your schedule to have a good listing inventory. Clients expect you to be available most of the time. When they are working during the day, they believe you should be too. When they want to look at homes or have time to meet when they get off work in the evening or on the weekend, we need to be available. My general workweek is usually 55+ hours but I do a lot of business.
If you want to limit your client base, then you can certainly cut that down to wherever you want. If you really want to try then I think you should. You'll figure out quick enough if it's for you. A good place to start is to work as a buyers agent or an assistant for a successful agent and transition in if it's for you. It will save you time and money.
Oh, btw, some of the worst reasons I've heard for getting in RE are: I just want something on the side to supplement my income, I like to look at houses, I like to meet/ I'm good with people, I think RE would be fun. I'm sure others can add to that list, especially some of the BIC's on here.
Agreed...if you want to consider this field, first give up HGTV. If you can go three months without it, you have the potential to be a successful realtor.
If you do this business properly and ethically, not only will you have the privilege of helping people realize major dreams in their lives, you'll also make many, many life-long friends.
But you really do have to stop watching HGTV first. It's like a realtor's version of crack - nothing but unrealized potential and busted dreams in the HGTV pipe.
Did anyone note the key word in the thread's start? I saw it. It is the word "professional." Any one who truly enters real estate to become a professional and treats real estate on the same level as a CPA, a Physician, Attorney, or Engineer will find tremendous success. That success will not be just financial, but highly emotional success too.
Did anyone note the key word in the thread's start? I saw it. It is the word "professional." Any one who truly enters real estate to become a professional and treats real estate on the same level as a CPA, a Physician, Attorney, or Engineer will find tremendous success. That success will not be just financial, but highly emotional success too.
I do think of realtors as professionals. I can't think of them otherwise. There's a lot to know and I worked as an administrative assistant to a solo practitioner for years. He did a lot of real estate and I was amazed just how much of the legal side most realtors knew. I mean you have to really know your stuff to be in the field and some knew MORE than the real estate attorneys.
I am sure real estate is not like HGTV and that's why I was inquiring. The shows I watch are more like "Flip that House" (and no, I would NEVER want to do that!), "House Hunters," "My House is Worth What?" and some others. I don't understand the resentment towards HGTV, but I do know one show I watched last night shows this realtor who sold a million dollar home and they made it look rather easy. I can see resentment towards that because I would believe the pricier the house the harder to sell it.
My only drawback to entering your field are the hours. I am a stay at home mom and thought I could enter into the field while my son starts school next Fall. Mom goes to school and son goes to school, but the long work hours would be hard right now at this time of my life. I guess it may have to wait. I should have known the hours would be grueling because the dear man that sold us our home and still keeps in contact with us, works every Saturday and most evenings. I really respect him and his work ethic and I will refer anyone in this area that needs a realtor to him. He was just great!
Thanks for your help in this matter and may you all make lots of money and lots of people's dreams come true!
Well now, I'm going to tell you the FUN and EXCITING part of being a Real Estate Agent!
Much like you, homewardbound66, people were always telling me that I should get into real estate. I also love love love looking at houses and being challenged and I love being around people! Yep, even some of the difficult ones! They are my challenges!
When my kids went off to school, I took the real estate classes as "something to do" with a friend of mine. We never expected to WORK! After passing the state exam, I received tons of letters from Real Estate companies, asking for interviews. When you are 100% commission, ANYONE will hire you!
As "something to do", I went to interview 3 companies. I had not planned to work! One of the brokers in charge made a huge impact on me, told me that I could set my own hours and I decided to work "part time".
Well, it wasn't long before I realized that part time isn't really MY TIME! My buyers want to see houses on weekends and evenings. Not a problem for me. I hate mornings, anyway!
My part time job became a full time job in no time at all and has become just a part of my life. I have 4 kids, last one is in high school. I work around their schedules as best that I can. I have an office at my office and an office at home.
Yes, it IS alot of work. Yes, there are days when I'm overworked. Yes, there are days when a new client calls out of the blue after being referred to me and wants to see houses that day. If I can do it, I will. If not, I'll do the best that I can. Thats the benefit of having clients referred to you...they have been told that you are worth waiting for! During the summer, I do work later in the evening but not EVERY evening. Hubby is here when I'm not so I have that going for me.
The job comes with alot of legal issues and a ton of problem solving. In the end, for me, its not about the money, although the money is good. The best thing is going to a closing and having your buyers so excited that they are getting a house and having them express to you that they are so appreicative for all the hard work you did for them. The really BEST part is having sellers understand that even though they didn't get full price for their house, they are understanding of why and the fact that you worked so hard to get them to the closing table. My sellers send me the best referrals!
The FUN part is going out with buyers and looking at houses and just educating them to the area and the process of buying a house. The FUN part is easing their mind and making them feel less stressed.
This is a very REWARDING career and I'm not simply talking about the money.
Vicki that is a wonderful summary of what it means to be a Realtor. I started out slowly, too, with kids that were young. Scheduling was sometimes difficult but a supportive husband or nearby family is crucial when you're getting started. Now, seven years later my kids are all in high school and even help me with some of the running around type duties of my business (delivering flyers, raking, shoveling snow, helping older folks with packing & moving, etc). Many of my clients have met my family and they have become friends, too. As you said, the rewards are so much more than financial - it's about the relationship and good feeling you get from helping people.
I've been in the business for about three and one half years. I was a teacher and coach in WI for 32 years before relocating to NW ARkansas. A couple of observations.
1) be sure to have enough funds for starting out....your first sale could be months away and slow times like now is rough on the budget.
2) Most agents I work with are great, but there are a few that give the profession a bad name.
3)Never and I mean never think you know it all...we learn everyday.
4)Many agents are not going to go out of their way to help you...they must feel that you may take some of their business away.
5)I always try to remember that serving the client (just like serving the student in teaching) is the most important aspect of real estate.
6) Please don't try to pretend you know all the answers to your client's questions...if you don't know the answer be the resource of the resource.
7) Be able to work long hours with many frustrating moments.
8) Don't run out of relatives and friends !!!!!!!
Good Luck
art
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