Where does a newbie start?

**WestcoastWilson** · 07-29-2010, 02:10 PM

Right now, I am going to attend a few recruitment meetings at several of my local real estate companies here. Yet since I am currently unemployed, have very little savings, have an interest to start a new career in real estate, what are some of the basics I should be aware of and what are some of the basic questions I should ask at these recruitment meetings as I try to find out what each has to offer?

I think I can get free licensing training, and pay the $200 for my exam (here in the Los Angeles area). Yet what are some of the other expenses a newly licensed Real Estate agent can expect to pay out in order to get established?

How would I choose a company to work for? Some of that largest companies in my area are Century 21, Remax, Keller Williams, and Prudential.

Yet I did see a ma-and-pa real estate company that offers the following:

* You keep 100% of your commission*
* Get paid directly from Escrow
* No monthly fees, membership fees, desk fees or hidden fees!
* E&O Insurance on every transaction
* No minimum sales volume
* Work from your home or personal office
* Your name and number on signs
* *Total fees per closed transaction:
- $500 Flat fee per closed transaction.
- $135 E & O Insurance and Risk Management fee.

So in the case of this ma-and-pa company, it sounds like I could save a lot of money with then not charging any monthly fees, membership fees, desk fees or hidden fees, plus having the option to work from my home or personal office.

The bottomline is, just until I am established and can start earning a commission, I am looking to keep my start-up cost very low. Any ideas?

Wilson

**TeamAguilar** · 09-12-2010, 12:16 AM

r u trying to advertise this ma and pa company here?
I don think any company have this kind of offers will be in business for long time.

**Chrisopher Moltisanti** · 09-14-2010, 01:35 PM

http://www.realestateforum.com/conte...ne-should-work

Part II below. Read it, know it. Repeat.

Good luck

-CM

**Chrisopher Moltisanti** · 09-14-2010, 01:41 PM

http://www.realestateforum.com/conte...okers-Part-II.

Ask the proper questions. Read your contract. Believe nobody in your office.
If you're a good judge of character, based on conversation and genuine
advice by your co-workers: leave it at that.
Read all contracts between you and the broker. -read again.
Check all commission percentages when necessary or if you suspect a "typo"
DON'T cash the check. Cashing or depositing it equates to acceptance.

Part I and Part II contain all relevant questions you should ask.
Don't be a meek, timid little child; you'll get nowhere.

Another link you MUST read:

http://www.realestateforum.com/showt...es.&highlight=

CM

**WestcoastWilson** · 09-15-2010, 08:51 AM

Thank you very much Chrisopher Moltisanti. I greatly appreciate your help. For sure, what you have provided gives me a lot of food for thought and will help me tremendously. Thank you so very, very much.

Wilson

**amcgovern** · 09-15-2010, 08:54 AM

Really, I'd say the biggest expense is that of time. Time spent trying to get customers and sales is time you don't have to spend on other things that might produce a more certain result.

**WestcoastWilson** · 09-16-2010, 07:36 AM

Thank you Amcgovern. This is good information to know. Thank you so very much for your input.

Wilson

**ChadPederson** · 09-19-2010, 07:22 AM

There are a lot of established real estate companies across the country that are going to flat per transaction fees, so its completely feasible that the mom and pop has been around and will be around. Brokers aren't in a good position to take 50% of the commission, a $250 per month desk fee, charge for every copy, charge for every fax, etc.

amcgovern and Christopher Moltisanti have great insight. Time is of the essence. Especially if you are on a limited budget to start generating income. Yet you need to invest a lot of time to market yourself properly. CM answered a ton of great questions and current market realities.

Be realistic about how fast you are able to generate income and what it will take to continue to sell. Managing your own expectations can be tough.

Good luck!

**WestcoastWilson** · 09-19-2010, 07:38 AM

Thank you very much ChadPederson. I appreciate you taking the time to offer your valuable insight and input. I will make a note of all that you have shared and add it to my notes, as I try to educate myself more before deciding if a Real Estate career is for me. Thanks again.

Wilson

**susanna** · 09-19-2010, 08:29 AM

I have also started real estate fairly recently. I work with few others together, and at the moment only with the possible commission - thus, no sale, no pay. I recommend, in the current state of economy, to start part-time and learn, before you quit your day-job... Unless your partner has a good salary and it gives you the freedom to try your wings.
Would like to hear about this from others. Thank you.