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My aunt is thinking about going back to work and becoming a residential real estate broker. I told her no way with this unknown fiscal cliff . What do you professionals think ?
Also ... she has a felony from 1987 it was a class e felony and I think that is the lowest. She used her x-bf's credit card for over $1,000and also got a misdormeanor sp. for calling him and bothering him. She has not been in trouble since. Basically , she could not deal with the break up and wanted to get back at him but instead she ended up with egg on her face for life.
My aunt is thinking about going back to work and becoming a residential real estate broker. I told her no way with this unknown fiscal cliff . What do you professionals think ?
Also ... she has a felony from 1987 it was a class e felony and I think that is the lowest. She used her x-bf's credit card for over $1,000and also got a misdormeanor sp. for calling him and bothering him. She has not been in trouble since. Basically , she could not deal with the break up and wanted to get back at him but instead she ended up with egg on her face for life.
Your advise and time are appreciated .
Before she goes to the trouble of classes, etc, she will need to contact her state real estate commission regarding disqualification due to the felony. Each state handles felonies differently.
Now regarding the business timing. One of the most frightful times in our lives, but for those who survive, it will likely mean the most successful time ever.
Before she goes to the trouble of classes, etc, she will need to contact her state real estate commission regarding disqualification due to the felony. Each state handles felonies differently.
Ditto. Before even considering this further, she should find out whether she would even be eligible to hold a real estate license.
It is "always a good time to be" involved in real estate.
According to the NAR.
And they are correct. You just have to know what you're doing if you go into real estate at any time. Do it right and you'll make money. Do it wrong and you'll lose money.
Before she goes to the trouble of classes, etc, she will need to contact her state real estate commission regarding disqualification due to the felony. Each state handles felonies differently.
Now regarding the business timing. One of the most frightful times in our lives, but for those who survive, it will likely mean the most successful time ever.
In Oregon she would fail the criminal background check here and would have to appeal her case. You have to qualify for a license here first and then you take the class. So what she does depends on the state's policies.
It is "always a good time to be" involved in real estate.
According to the NAR.
If you are self motivated and don't mind working hard, it is a good time to begin ANY CAREER.
Since the OP asked if it is a good time to become a RE Agent, the answer is...it is a difficult career to get started in but once you HELP a few people either sell their house or buy their new home, you'll get referrals from them and if you do that, you should have a successful career.
Is it more difficult today than it was 5 years ago? Probably so for the newbies but if you work hard and work smart, you should be fine.
First-Eligibility issue
To become a real estate broker requires a background check, and different states deal with this matter differently! So before taking the educational requirement steps, your auntie must contact the Department of Real Estate of your state and make inquiries. Most information can be found on the DRE website under the Q&A section.
Second-Real estate business issue
A real estate career is a business, not a job! That means, it require self motivation and knowledge of the market you want to work at. For instance, since the financial and credit crises, tough financial guidelines were implemented to make it harder for potential borrowers to abuse the mortgage system. That decreases the number of potential borrowers. Further, government involvement slowed down the pace of foreclosure homes coming on the market. For that reason, there are less buyers in the market,but at the same time, there is a shortage of available homes for sale! A real estate agent must therefore adapt to the market condition to help him choose what strategy to use in his business. At present, the financial crisis caused millions of homes to lose their value in comparison to the existing financing, causing homes to be sold as a short sale candidate. Short sale means selling a home that is underwater. This process requires the approval of the lien holder because the property would be sold at a discount. In most states, short sale make up to at least 50% of the total homes for sale.
As can be seen, real estate can be a lucrative business at any time, but requires knowledge of current market conditions so the real estate agent can adapt when required.
Really simple question does she have 6 months income saved? If not she's just dreaming.
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