Quote:
Originally Posted by wileynj
How can you be a realtor then??? That's a HUGE career gamble if you ask me!!!
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I mean on spending a $1000 on a ticket on the chance that I might win. Yes being a REALTOR is a big gamble, but it is a situation where is you are well funded, well informed, smart about how you market to people, and always take a long term approach you can succeed.
It is a big gamble to become a REALTOR for most because they come into it with out relevant experence, without 6 to 12 months living expenses in the bank, and above all else without a plan or clue of what it really takes to make it. Did you know that for every class of 30 people getting their real estate license 29 of them are out of the business within 12 months, and that is the long term average. The numbers that many don't know are that only about 1 out of 30 who make it through their first year, make it through their second year.
Another interesting number, in any given year 65% of the REALTORS will spend more money on being a REALTOR than they make. In New Jersey you have to get to the top 7% or 8% of REALTORS before you find any that are making even 60K. For New Jersey 60K is nothing!!
Another interesting number that I heard recently, 80% of the homes which are listed and expire without selling at any given time were listed by a friend or relative who did not have to interview for the listing in the first place.
The barrier to becoming licensed as a real estate agent is set very very low, almost anyone can take the class and pass the test.
The barrier to becoming a successful REALTOR is very high, and very few actually make it.
I can name 12 REALTOR or REALTOR teams who do 80% of all the listings in Essex County, that is a lot of listings. I cannot name the other several thousand REALTORS in Essex County.
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