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Wanting to return back to college for nursing. In the midst of trying to pay off credit debt, try to save up, and take one class a semester of pre requisites. I saw the local CC has a real estate appraiser license class. I work part time at the moment three day's a week mostly evening's. My schedule is flexible will be transitioning to night's hopefully by the end of the year. Was curious how is it being a real estate agent?
I used to work with two know nurse's who worked as real estate agent's during nursing school. Think one has their own brokerage on the side now.
Just curious on feedback on being an agent? Do you enjoy it at the moment? Right now making about $1500 a month going night's close to $2,000. However, extra $1,000 a month help with paying off bill's and saving some money on the side.
It's expensive right out of the gate and takes some time to build up a client base. Are you trying to be an appraiser or an agent? Those are two totally different things.
I went to RE school back in 2004. Here's an idea of the initial costs:
$395 - Real Estate School (Every Monday night for 2 hours for 2 months)
$144 - RE exam
$1,700 - Admission fee to the Board of Realtors (a requirement in our area)
$400 - Misc fees
Then once you get on board with a company, you have to factor in how you pay that company for running under their license. You either pay so much per month to "rent" an office and provide all your own signage, advertising, etc... or split your commission with them.
In my case, I did a 50-50 split with them and they covered my costs to operate. What that meant was, that I made 1.5% off a sale instead of the standard 3%.
My first clients looked at over 40 houses before choosing one. I met with them 2-3 evenings per week and on Saturdays driving all over the country to show them houses. I had to pay for fuel, plus my time. Whenever they called, I had to go.
After all said and done, on a $250k sale (factoring in that I only received 1.5% of the commission), I got a check for $3,750. Once you take taxes out of that (estimate 33%) I had $2512.50 left. Taking out my fuel costs of about $200, I was left with $2312.50 and it took over two months to get them into what they wanted.
You have to really be selling some houses to actually make it worthwhile. I eventually got out of it as it became difficult to manage my full time job, a family life, and sell Real Estate.
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