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Old 12-07-2010, 10:17 AM
 
21 posts, read 26,081 times
Reputation: 24

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hello everybody I am new to the area and am thinking about going to real estate school to become an agent. With the market down is this a option right now or am i just kidding myself.
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Old 12-07-2010, 12:40 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,080,125 times
Reputation: 3868
The real estate school teaches you to pass the state test. They will ingrain that into you at the school.

In order to learn the business of real estate, after you get your license, you should hire and work with a mentor, and take many more courses. There is a tremendous amount to learn, and you will never stop taking classes and learning.

Many people think there is nothing to being a Realtor except passing a test. Once they get into that situation they learn that they did not know what they didn't know.

You will need to be prepared to pay monthly dues and not get a pay check for at least 6 months.

You will be an independent contractor, not an employee, so you will be responsible for getting your own business.

If the company where you hang your license provides you with leads, you will pay for them in the form of a fee, or a higher split.

Quote:
The median expected salary for a typical Real Estate Sales Agent in the United States is $36,513. This basic market pricing report was prepared using our Certified Compensation Professionals' analysis of survey data collected from thousands of HR departments at employers of all sizes, industries and geographies.
It is not a salary as they state. All agents are on commission only. (There are a couple of exceptions, but not even worth mentioning as far as I'm concerned)

Before you make your decision, talk to a number of agents (not the designated brokers who may want to recruit you for the monthly fees).

By talking to a lot of agents, you will get a cross section of what it's like and what you can expect.

Also, expect to work and study about 14 hours a day for a very long time, and to work on weekends and holidays.

You can also google your questions and will find many threads on the subject.
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Old 12-07-2010, 01:14 PM
 
523 posts, read 893,367 times
Reputation: 208
If I were you, I would be using your time to put in some education to find a marketable job. For myself, I really regret not doing any school, and now I am stuck in a permanent rut. There will soon come a day very soon when real estate agents will go the way of travel agents, i.e. gone.

Prepare yourself now and don't make the same mistakes that I have.
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Old 12-07-2010, 04:58 PM
 
Location: Out there somewhere...a traveling man.
42,468 posts, read 56,350,338 times
Reputation: 120137
In the area where I live there are more real estate agents than homes for sale. Realtors are dropping like flies, some even working now at McD's... Most are part timers too, saturating the market.
I'd personally look for a different vocation, and something with a future.
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Old 12-07-2010, 05:12 PM
 
43 posts, read 83,398 times
Reputation: 19
do you have a young family? if so, please note to make the bucks you work long hours and have to be prepared to go at a moments notice ... i did it for a few years but with young kiddos, it was too big of a sacrifice and that was during a good market - i made good money BUT the price was higher than the paycheck paid. (imo)
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Old 12-07-2010, 06:33 PM
 
Location: Prescott AZ
6,738 posts, read 10,912,924 times
Reputation: 13442
AND the real estate exam here in AZ was REALLY REALLY HARD. I passed but it sure wasn't easy....
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Old 12-07-2010, 06:44 PM
 
21 posts, read 26,081 times
Reputation: 24
thanks all -working 14 hour days and weekends is the reason why im looking for a new career LOL.
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Old 12-08-2010, 06:10 PM
 
102 posts, read 397,112 times
Reputation: 100
Try Ultrasound Technology. Health Care will never go out of "style."
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Old 12-09-2010, 01:17 PM
 
895 posts, read 1,391,586 times
Reputation: 2188
I have 29 friends and family that are realtors. Oh what the hell...what's one more. The bankruptcy courts aren't completely full....
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Old 12-09-2010, 03:04 PM
 
Location: Rural Michigan
6,342 posts, read 13,513,210 times
Reputation: 10517
Quote:
Originally Posted by QERose View Post
Try Ultrasound Technology. Health Care will never go out of "style."
I'm not sure about ultrasound tech school, but I do know that @ Gateway there's about a five (5) year waitlist for the radiology tech program, and about a three (3) year waitlist for the nursing program.. Oh, and you don't get ON the list until you complete your prerequisites.

And once you do graduate, it isn't really "peaches and cream" either - 20% of new-graduate RN's in Arizona this year were still unemployed six months after graduation...

http://www.azbn.gov/documents/educat...N.08.30.10.pdf

It would be kinda nice if the media wouldn't keep perpetuating the myth that healthcare is somehow invincible to the economy. It isn't.

Back on topic - I did the RE school thing, it wasn't particularly hard if you paid attention in class, but there are pitfalls -

Many of the "big name" brokers want 80% of your first three sales commissions every year... and the "average" agent only sells three a year..

There are some "low fee" brokers out there that only charge a couple hundred bucks a year to hang your license, but you're "on your own" for leads..

Truthfully, you're "on your own" anyway -

If you get a RE license, you can tell your friends, family, co-workers, neighbors, etc, and gradually build a franchise for yourself, based on your own interactions with the world.

People who know you, refer those they know to you, based on those existing relationships.

Last edited by Zippyman; 12-09-2010 at 03:40 PM..
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