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How would you really rate skill level as a realtor?
Many realtors raked in big bucks when the housing market was sizzling, similar to traders during the tech stock boom. In both cases, market was so good and the bubble just kept on growing that you really didn't need to put a lot of efforts to do well during those great times. Either just buy some latest hot tech stock and watch them skyrocket in values in subsequent days/weeks or simply post an house for sale and you get 10+ offers within the first couple of days.
I'm not saying you're one of those people who just did well because of the market, but it's something to think about. What's different now for you than before when you struggled to do well during the RE crash? How/what skills did you improve during these years that will help you become a better realtor even in tough RE market if you were to go back to it full-time?
Are you even confident that you can handle this teaching job? I have to wonder what kind of place it is that (a) pays that much (yes, that is A LOT for a 1st year salary) and (b) how much turnover they must have in order to hire someone who doesn't have much teaching experience at all, and is from out of the area.
In FL and GA, Principals are getting between 400 and 600 resumes for each job they have.
I don't know very many Realtors who made that kind of money, so if we really were that good, you should probably return to it.
Let me tell you from experience: being a 1st year teacher will take every second of your time, no matter what grade. Teachers I know are working until late in the night and still never finished with everything that is required these days, in terms of paperwork, meetings, parent contact, etc. It never ends, even at the elementary level. Anyone who says otherwise is probably just recycling the same lesson plans from 1971, which you will NOT get away with at schools today, esp if you are a newbie without any kind of tenure.
Would any of us want to list our houses with a part-time realtor? I doubt it. We all would want someone who's working full-time, has more professional contacts and is driven to succeed because it's his/her sole means of support.
I responded on the OP's other thread with a question for the OP. I suspect that, if a mod sees two threads with the same initial post, the two threads will be combined.
I need help making a decision. Should I accept a teaching job or get back into real estate?
Back in 2003 I became a Realtor after being laid off from various internet companies and even with no SOI (sphere of influence) and not knowing anyone in the city I quickly rose up to become 2nd runner-up rookie of the year and made $138K my very first year. Real Estate and me was a natural fit...I loved it and didn't feel like I was working at all. I did well, received numerous awards and even got the #1 customer service award because no one ever complained about me but instead praised me for my service. I loved helping those searching for their first home especially. However, in 2006-2007 the RE market started to plummet and business was slow. I had clients that wanted to sell but couldn't sell their home, I had buyers that wanted to buy but could no longer get the financing. It was a horrible time. I had an AA degree at the time so I became a substitute teacher and fortunate enough to get a long-term teaching position for the 2008-2009 school year.
I fell in love with teaching, but didn't make anywhere near what was needed to pay my bills on a substitute salary. I returned to school, got my BA degree and then went through an alternative process to get certified to teach. For 2 years I applied for teaching jobs and no one would even give me an interview. While waiting I enrolled in a graduate program, of which I have one year left but I hate it. I am now close to 75K in student loan debt and those that have graduated from the graduate program I am in, only a handful have found jobs with the rest just waiting.
I finally, within the last month got a few teaching interviews and got a job to teach for the 2012-2013 school year and it pays 46K. Of course 4K has to go towards the alternative mentor program and the cost of living in the town will be 1K over what I will be able to make even with a 46K salary. Therefore, my quandary. The real estate market is better now, and I now live in an area that wasn't hit very hard by the RE market, my cost of living is low, and I live near family. If I take the teaching job I must move to a city I don't especially like at all, I don't know anyone and my costs will be more than what I make.
Help me please, should I take the teaching job anyway, and get another 2nd part-time job to help make up the 1K difference, or should I continue to get my degree and take out more debt while getting back into real estate? I know I am a good Realtor, but of course my confidence in myself and what I am capable of is in question now. I used to own my own home, had thousands in the bank, now I rent, have debt and really want to move forward and get back what I had lost. I should mention too that I am turning 40 this year and I only have a good 30+ years to get myself back on my feet, save money for retirement and have no room for mistakes. I appreciate your help.
I have to wonder where you will be working as a teacher because teaching jobs are HARD to find. I know from personal experience. I have an elementary ed degree and am stuck in manufacturing while searching for a new career. Fortunately, I don't have 75K in student loan debt. Most schools here in Indiana are getting anywhere from 600 to 2000 resumes per teaching position. When I was in AZ, I was at an interview with 50 people for one job. You either got lucky or it is a horrible school to work for, unless you are like a secondary math major or something.
If real estate is your talent, go with it. I do know people who have done well even in this housing market. Some of them specialized in selling foreclosures somehow. One guy I know was just very persistent and aggressive to make the income he needed.
I wouldn't suggest teaching unless one is very passionate about it, I don't see teaching as a "im just doing this till something better comes along". However you have expereince and you do seem passionate. I would say go for the sure thing.
I think the Real Estate market for homes in the 250k and under range is doing well. Can you do both for a while and then eventually transition back to a full time Realtor? Teach during the school year and be an agent in the Summer and maybe on Weekends?
This doesn't sound like a bad idea. I know I bought my house in Dec and had a long list of houses saved in my Favorites online and I went back to look weeks ago and every single house I had saved from last fall have all sold(these were all under $200k but nearly 40 of them). Also, my realtor at the time said he was very busy. A friend who uses the same realtor was able to sell and buy his new home from him just a few weeks ago.
Real estate is looking up. Good luck!
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