Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What recommendations do you have to determine if it would be a good fit for me? I think my personality would be a good fit. I am in the top four most successful MBTI types for realtors. I would have no problem financially with the lack of earnings in the first year or two but I may find it frustrating psychologically. I assume that is pretty normal though. I would be okay as long as I saw a steady upward progression. My area seems to have a pretty hot real estate market right now so assuming I do the right things I should be able to sell as I gain a professional network.
I don't have any marketing background so I would need to learn the ropes on that at the same time I was learning the real estate business. I come from a family of real estate people...in my family we have an investor and agent, a mortgage broker (now an underwriter) and a real estate attorney. None of them live in my local area, though. I haven't ever worked in real estate, but I guess for some reason (is this type of thing genetic! lol!) I really enjoy keeping an eye on the market. I regularly look for new listings and watch for what things are selling for. The thing that has kept me from moving in this direction is the nights and weekends. For religious reasons, I won't work Saturdays. I have no problem with Sunday. But I don't want to be out every night with clients because I have elementary aged children. Of course, 10 years from now that wouldn't be a problem and I would like to have built up a business so once they're gone I have something.
My biggest concern is my lack of marketing experience. Are their plenty of resources to learn this and how it applies to real estate?
If I do decide to do this where should I start? Do I go and get my license independently? Or work with a local agent? What kinds of expenses might I expect to incur (outside of licensing) in my first year?
What recommendations do you have to determine if it would be a good fit for me? I think my personality would be a good fit. I am in the top four most successful MBTI types for realtors. I would have no problem financially with the lack of earnings in the first year or two but I may find it frustrating psychologically. I assume that is pretty normal though. I would be okay as long as I saw a steady upward progression. My area seems to have a pretty hot real estate market right now so assuming I do the right things I should be able to sell as I gain a professional network.
I don't have any marketing background so I would need to learn the ropes on that at the same time I was learning the real estate business. I come from a family of real estate people...in my family we have an investor and agent, a mortgage broker (now an underwriter) and a real estate attorney. None of them live in my local area, though. I haven't ever worked in real estate, but I guess for some reason (is this type of thing genetic! lol!) I really enjoy keeping an eye on the market. I regularly look for new listings and watch for what things are selling for. The thing that has kept me from moving in this direction is the nights and weekends. For religious reasons, I won't work Saturdays. I have no problem with Sunday. But I don't want to be out every night with clients because I have elementary aged children. Of course, 10 years from now that wouldn't be a problem and I would like to have built up a business so once they're gone I have something.
My biggest concern is my lack of marketing experience. Are their plenty of resources to learn this and how it applies to real estate?
If I do decide to do this where should I start? Do I go and get my license independently? Or work with a local agent? What kinds of expenses might I expect to incur (outside of licensing) in my first year?
TIA for any perspective you can offer.
Go to school and see if you enjoy it. I did, and made the decision to pursue the license after a few classes.
Since you say you can support yourself for the first year or two, do not join a team. Be independent. Be a sponge in a firm that offers a lot of training.
The cool thing about real estate is that there is a very low threshold of expense to get started, in comparison to capital-intensive business startups. It really is a very cheap business to enter and to stay in. So, you can give it an honest whack, get some experience, and see if you want to stick with it without taking a huge hit.
Locally, I am an advocate of Deborah Carpenter and her Real Estate Success Academy. Deb is a wonderful instructor and a contributor to the NC Real Estate Commission manual.
She teaches in Cary, and I think in Raleigh, too.
You can control your hours to a certain extent. There will be some evenings, and you can get by without working Saturdays. That may drag at your business a bit, particularly in our current hot market where you have to respond or miss the shot, but don't work with people who cannot accept your beliefs.
Go to school and see if you enjoy it. I did, and made the decision to pursue the license after a few classes.
Since you say you can support yourself for the first year or two, do not join a team. Be independent. Be a sponge in a firm that offers a lot of training.
The cool thing about real estate is that there is a very low threshold of expense to get started, in comparison to capital-intensive business startups. It really is a very cheap business to enter and to stay in. So, you can give it an honest whack, get some experience, and see if you want to stick with it without taking a huge hit.
Locally, I am an advocate of Deborah Carpenter and her Real Estate Success Academy. Deb is a wonderful instructor and a contributor to the NC Real Estate Commission manual.
She teaches in Cary, and I think in Raleigh, too.
You can control your hours to a certain extent. There will be some evenings, and you can get by without working Saturdays. That may drag at your business a bit, particularly in our current hot market where you have to respond or miss the shot, but don't work with people who cannot accept your beliefs.
Can you recommend such a firm? Reviews of Keller Williams say they offer the best support of all the large firms. Any thoughts on that? Thanks so much for the very informative response.
Can you recommend such a firm? Reviews of Keller Williams say they offer the best support of all the large firms. Any thoughts on that? Thanks so much for the very informative response.
First of all, I am not here to put down KW or any information you have be able to churn up. I am here to see that every person gets a fair shake.
Every office of every brand is like real estate itself. They are all different and some with will be good and some will be not so good, some as a matter of fact will be horrible.
Let it be understood, too, that KW has a downline, as do other brands, and agents may receive compensation for recruiting.
The National Association of Realtors says that the average churn of new Realtors is 80%. I am assuming this means that within a certain period of time, usually one or two years, 80% of every one joining a firm on day one will not be with the firm on the final day of the period. That number is 70% for RE/MAX rookies NAR-wide. (I am not advocating for RE/MAX, just putting all the cards on the table.)
If I were you, I would visit several brokers in my neighborhood. Don't be afraid to check with local independent brokers, if possible you'll want to speak with more than one broker of a national or regional brand as well. Find out who the owners are and where do they live? Are they "in-the-building" or always on the road or even living in a second home 50% of the year.
I recommend that you find a firm that offers Brian Buffini or similar entry level training programs. As you alluded to, real estate schools teach how to pass the test. You'll need a good to great broker to provide you with a mentoring and learning environment.
I wish you the best!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
