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10-28-2009, 01:19 AM #1
Renter
- Join Date
- Oct 2009
- Posts
- 9
*getting started...*
*I'm strongly considering getting into the Real Estate business, and I have a few 'broad' questions I would appeciate some advice on...
- I'm not worried about "how I get the ball rolling." I understand that I need to take the required real estate test/course to get my license. The real question is, what direction do I go from here!?
1. Would any of you experienced realtors advise me to start with a firm? I have a funny feeling that real estate is a lot like many careers - your first "job" is a confidence builder, or a confidence breaker. You can work for a firm that takes you under their wing and helps you along the way, or you can work for a firm that says 'you're on your own' and makes the learning experiece difficult. What do you reccomend?
2. I'm starting to comprehend that listings are the key to getting your career rolling. Without listings, you have nothign to sell! Here's a huge question: when you work for a firm, do they PROVIDE you with listings that you make a commission off of? Or, are listing something that you always need to find by yourself, (with a firm, or with your own business.)
3. Any other advice would be greatly appreciated. Step 1, (getting the license,) is cake in my opinion. It's knowing what to do once your HAVE the license that's giving me a headache. Should I join a firm, and if I do, what can I expect??? Can you make good money with a firm, (even if it's a bit less then owning your own business?) Help!
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10-28-2009, 06:27 AM #2
Fixer Upper
- Join Date
- Sep 2009
- Location
- USA
- Posts
- 67
Hi AnonymousGuy:
1. I'm not sure what you mean by a "firm." All licensed real estate agents in the United States must work for a broker for at least the first 3 years of salesperson status. You have no other option than to join a "firm." For your very first year as an agent, I'd recommend that you join a firm that provides training. When you finish with your "cake" you will be clueless. The only way to learn is hands on. There are at least two big firms in my city that offer a "success center" for new agents. I advise going to one of those type firms first, just so you shorten your learning curve.
2. Don't take the listings so lightly. You have plenty to sell with a listing - you've got to sell *yourself* just to get the listing. However, the listing side tends to be less work than the buying side. And yes, the money is where the listings are (speaking of traditional real estate agents). Regarding the leads (I'd never call them listings), I've never been with a firm that gave anyone leads unless it was the Broker's left overs - meaning she didn't have time to get to them all so she gave the not-so-promising leads to other agents. You may get what's called "floor time" at a larger firm. This is where you sit, wait, hope, and pray for a "walk-in" or for someone to answer the phone while you are manning the office. If there ever were a good lead to come in and it was just given away, I'd bet it won't go to the green new agent and I'm sure you can understand why. Again, you can't be on your own as an agent with your own real estate firm until after you've received your broker license.
3. Will you have supplemental income during your first year of licensure? I strongly suggest you save up some money to keep you covered during your first year. It will be tough. Look into joining a firm such as the Exit franchise - where you earn money on bringing other agents into the business along with other benefits not afforded by traditional real estate brokerage models.
Whatever you decide. Good luck. It's a tough road but there's money to be made for those who are self motivated, ambitious, intelligent, and are of high integrity. Oh, and it sure helps to be likable. My biggest challenge has been to learn to deal with the petty rants and tantrums of my clients and other agents.
Regards.
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