Thread: Starting out in real estate

Originally Posted by drgleeds37

I know that the subject has been beat to death and I have read most of if not all of the "new to real estate" threads but I still have a few questions for the experts. To give you a little background; I'm a successful salesperson and I will be successful in real estate, I'm just not sure how long it will take. I have a pretty good nest egg that I can rely on but I also rather enjoy spending money . I'm just finishing up my classes and should be getting my license within the next few weeks so...
What expenses should I expect from starting out?
Assuming that I have a strong work ethic and a talent for sales, how long until I should expect to be making steady income?
Are there any books or materials that you would recommend I pick up to help me along the way?
Any other advice that you can throw my way?

Thanks again in advance for any information!

-Daniel

Not a realtor yet, but from my own research:
Expenses:
Minimum education (realtor classes)
State license fee
examination fee
National Association of Realtors
Local Association of Realtors
MLS Subscription (some brokers may pay this for you)
Supra/Lock Box key
Errors/Omissions Insurance *required in my state, not sure about yours*
Business Cards *may be provided by broker*
Website *if allowed by broker*
Business Phone

For ME in MY STATE my start up cost is going to be $4,200 (+/-)

I'd recommend having AT LEAST 6 months in reserves to cover your living expenses, the more the better. Figure what the average time to ratified offer to closing is in your area and think even if you sold a home or got a listing your first day, how long would it be to first commission?

Hi Daniel!

The expenses depends on location you are selling or purchasing property in. There are many online educating references, guidance and seminars conducted. I suggest to update yourself as much as you can.

Daniel, to get sure success in any category all you need is faith, determination and believe that you can do that. I see potential in you and if you are a nice salesperson who can make people think about the product or service by his talk them this is your play ground.


Obviously Real estate is not a candy selling job, thousands of dollars are involved in it and that

Thank you all very much for your responses. Does anyone have any advice as far as books that I should read or online classes that I should take?

-Daniel

Books:


SHIFT: How Top Real Estate Agents Tackle Tough Times (PAPERBACK) (Millionaire Real Estate)


The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can Be!

Always plan to invest in the area that you plan to work. Be consistent in your marketing and get in front of prospects. Create a regular plan to keep prospecting and stick to it. When you get busy with listings make sure you continue with the prospecting plan you put in place thar got you the listings other wise your income will become a roller coaster without stable growth.

Perhaps you may want to try too to buy and sell businesses and real estates creatively as what I do.


Fhil F.
Social Media Manager
on behalf of Derrick Sakai

Here is a list of Books that would really give you a foundation, especially Keller's book.
Why Buy A House Now? | Home Pro Buyers Guide

Thanks for the great responses everyone! I have read Gary Keller's book and it is very inspiring. Keep the advice coming, I really do appreciate it.

-Daniel