How do you get into real estate?

[Crunk]

Okay, Im a 24 years old, Dallas, TX resident. Im not satisfied with my warehouse job, and I want an acutal career and real estate is one of the careers that seem to spark an interest. But I havent a clue how to get into a it. And would I have to go back to school to get a degree or something for real estate?

I heard it was easy to get it but hard to stay it the real estate business - if so, can someone elaborate?

And sorry if this is the wrong forum but I didnt see anywhere else this would fit in

Thanx in advance! :cool:

[Rusty]

Schooling is a necessity, but before you start down that path, I'd make sure you know this is what you want.

See if you can find a local agent who can mentor you or at least give you a no BS insight into his/her world.

Get exposed to it before you make a blind jump.

[re_advice]

As Rusty mentioned above, you have to go to real estate school. I would suggest that you start off by looking up the educational requirements by searching your state's Real Estate Commission or Department of Real Estate (in some states) website and look up the pre-licensure class requirements. Many of these sites list approved schools which offer pre-licensure courses. Also I would suggest that you read the post-licensure requirements as well as many students who start the pre-licensure classes find out real fast that they have to take a lot more classes than they originally thought once they actually get their licenses in order to keep it. For instance, here in North Carolina, you have to take 90-hours (3 30-hour classes) of post-licensure classes within three years after passing the state exam in order to keep your license and at least 1 of the 30 hour classes must be completed each year within that three year time period.

I also advise you to check out the continuing educational classes as well as we also have to take 8 hours of continuing education classes each year in order to remain active.

Do for example, here in North Carolina, if you decided to enroll in a real estate course, you would have to take a 75-hour pre-licensure class, followed by a 30-hour post licensure class and 8-hours of continuing education each year up to three years.

Also, as suggested earlier, find a mentor whom you can shadow for a week or longer and try to get an understanding of how things work in the business itself. See if real estate is what you truely want to do and if it is everything you throught it was going to be.

I would also reccomend that you start today getting your finances in order. Is this something that you can afford? Can you afford to lieterally start your own business today or a month from today? If not, it may not be the right time to get involved in real estate.

Here in North Carolina, we are required to work for a firm for two years before we can go out on our own and start our own real estate firm. Working with a firm, a lot of firms require monthly desk fees and other expenses in excess of $100.00 a month. Yes you will be with a firm, but basically you have to pay to work there and you do not get a salary. You earn a commission which means unless you manage to close a transaction, you do not get paid. Depending on your firm, you have to pay your own advertisement costs and many other expenses as well.

You are looking at costs involving your own computer, cell phone, newspaper advertisements, costs for making up yard signs and many other expenses that most people do not realize that are there until they actually get on with a firm. That is why a lot of firms tend to have a high turn-over rate believe it or not.

Even if you decide to become a virtual agent where you end up working out of your home and meeting clients at home or in other areas, you still have a lot of expenses. It's not just sitting home, waiting for someone to call and then meeting them up, getting them under contract and putting a sign in their yard and running to the local newspaper office placing an ad for them.

[mmuench]

Before persuing a full-time career in real estate you've got to have plenty of savings to live off of. Real estate costs you money up front and you can easily spend a couple thousand or more before every making your first penny in commission.

[Jennifer Allan]

Do your research, as advised above, and when the time is right for you, you'll know it. I thought about going into real estate for two years before I actually did it... and when I made the decision, it was absolutely the right thing to do. Had I done it earlier, I probably would have failed.

There's no question that you need to have reserves - it's very possible you won't see a paycheck for several months after getting started and after your broker's split, your first paychecks won't be nearly as large as you're hoping for. You'll be working your buttox off though, so if you're panicking over money, you'll likely get discouraged and quit before you really get going.

I recently wrote a book called "Sell with Soul, The New Agent's Guide to an Extraordinary Career in Real Estate" - one chapter is called "The 7 Myths of a Career in Real Estate which gives new agents an idea of what they do all day (and what they don't). The forum won't let me post the link here, but if you go to my website ~sellwithsoul.com~ and click on Excerpts, you can read all about it!

Real estate is a phenomenal career. It can make your dreams come true and provide a lifestyle that most people only dream of. I am currently semi-retired, at age 39, and am able to follow my other dreams, due in part to my real estate career.

Good luck!

Jennifer