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I am planning on getting my real estate liscense or a appraisal. Would one be able to get into a decent pay range(nothing crazy) doing that kind of work? I could even get into property managment as well with that kind of backround? What do you think?
I am planning on getting my real estate liscense or a appraisal. Would one be able to get into a decent pay range(nothing crazy) doing that kind of work? I could even get into property managment as well with that kind of backround? What do you think?
I got my real estate license in 1994 during the recession. It was real tough. I tried my hand at commercial real estate leasing on a commission basis, but ended up starving for 2 years before I decided to move on. In recessionary times, the only ones who are likely to do okay are the ones who've built a reputation and have a long list of affluent clients in which they have a relationship. Even old timers can starve, though.
I even considered becoming an appraiser, but at the time, banks were shutting down their appraisal departments and outsourcing. You also had to be employed by an appraisal firm before you could attend appraisal certification classes. Yet, appraisal firms weren't hiring, unless you were a certified appraiser. Go figure! A classic case which comes first, the chicken or the egg.
So, I venture into residential property management. Lot of stress, very little pay. I later went in to something else, and eventually ended up working for the government in a real estate realated field. I'm not starving anymore. I have a tendency to be cynical because I've gone through hard times. Been there, done that.
There seems to be a demand for appraisers now, but that's because interest rates are real low. That'll change real soon when interest rates will spike upward in order to save the U.S. dollar from total collapse. The bond market bubble is going to pop any day now, and the commercial real estate crisis will dwarf the sub prime mortgage crisis we're going through now. Commercial real estate is leveraged way more than a people's homes, and there's no one to replace big box retailers who left their store space vacant. I'll bet that Circuit City spaces will remain largely vacant for over a year, or two.
Any way you look at it, you're screwed. We're all screwed. All the jobs that are supposed to be available for college grads are being taken up by the older, much more experienced and trained people who got laid off.
Don't mean to convince you not to pursue your dreams, but at least I made you more aware, so you'll can avoid chasing a dead end dream if it comes to that. If you see an opening, however, go for it. We all have to make it through somehow.
I am planning on getting my real estate liscense or a appraisal. Would one be able to get into a decent pay range(nothing crazy) doing that kind of work? I could even get into property managment as well with that kind of backround? What do you think?
Mike,
it's alway a good strategy to go back to school and further your educations/credentialing in bad time to be ready for when the market truns....and the market will turn! It alway does! You can appreciate that any time you get involved in commission work...you will need to build a base prior to realizing you full potential. The question is...are you disciplined enough to do that and are you willing to pay the price and put in the hours required? In real estate you write your own ticket...even in bad times great agents make LOTS of money...poor ones don't. There are always people buying and selling...even in "bad markets". Some thoughts for your consideration.
I am planning on getting my real estate liscense or a appraisal. Would one be able to get into a decent pay range(nothing crazy) doing that kind of work? I could even get into property managment as well with that kind of backround? What do you think?
If you hit a golf ball randomly down any street in Honolulu, the chances are you'd hit either a real estate agent or a life insurance salesman.
Brokers are the only ones making money. Under them are the real estate agents. And under them are the realtor associates. It's tougher in Hawaii than other states I looked at.
On the other hand, there is island time. In my experience Hawaiian realtors don't work evenings, weekends, or holidays. Elsewhere, they work 24/7. If I could have hired a Hawaiian realtor with mainland practices, I would.
Definitely more to know in Hawaii: lava zones, tsunami zones, earthquake zones, flood zones, CC&Rs, SSPP, water and utility problems, access rights, leaseholds, etc.
Brokers are the only ones making money. Under them are the real estate agents. And under them are the realtor associates. It's tougher in Hawaii than other states I looked at.
On the other hand, there is island time. In my experience Hawaiian realtors don't work evenings, weekends, or holidays. Elsewhere, they work 24/7. If I could have hired a Hawaiian realtor with mainland practices, I would.
Definitely more to know in Hawaii: lava zones, tsunami zones, earthquake zones, flood zones, CC&Rs, SSPP, water and utility problems, access rights, leaseholds, etc.
You are right about a lot of things, but there are those of us that still work 24/7!!
I do full time residential property management plus sales. The salary of property management gives me a base amount that pays the bills and then some. after over 5 years, I have established a bit of a niche to where some tenants ask me to help them buy, some owners ask me to list their property when they want to sell, and 2 previous clients from just 2 and years ago (sale) now may sell that home and asked me to list. some owners are in distress and I'm even handling the short sale listing (which is a lot of work and frustration).
So, if you work 24/7 and have a good attitude it can be done but you really gotta work hard and be a good agent, to have it (or anything else) pay off.
Check on the requirements in Hawaii for licensing. I was looking into property appraisals a couple of years ago, and if I remember correctly you need to serve two years as an apprentice before you can get your license. That's two years of following someone else around and them paying you a pittance of what they get. Not sure it's worth it.
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I have a tendency to be cynical because I've gone through hard times. Been there, done that.
tough
