Thread: Realtor Start up costs

Originally Posted by SpitNCobra13

Hey guys,
I am interested to see if any of you came up with any creative ways to raise the start up costs of getting into real estate. Ive been working a lot of hours at my job (waiter) and saving, but its pretty slow going. I took out a small loan from my mom to take the course, and I have saved enough to take the state exam. However, the firm that is hiring me says it will cost around $700.00 in National, State, and local realtor fees. Can anyone think of any faster ways to raise these fees?

What about working for an established real estate agent as their assistant so you can make some extra money and learn the business from someone that is successful in the industry!

Do you have anything you can sell on Ebay?

Paying those fees is only the tip of the iceberg. It will take anywheres from 6 months to a year to get a contract and then you have to wait for it to close before you get paid.

You should have about 2 years living expenses saved up to start.

You don't have to join the Realtor organization. You can be a licensed Real Estate Agent without being a Realtor.
Save your $700 and use it as follows.
Go to IPOWER.com and get a domain name there for $7/month.
Download a free trial copy of Microsoft's Expression web and create you a website with an opt-in page. Let visitors sign up for your free home buyer advice.

Go to google.com/adwords and create an account and advertise your services there. You will start getting leads within a few hours. Spend about $200 on Google and you will close a deal within 90 days.
Real Estate is easier for new-comers today. Fire your mentor/broker if their website is not on page one of Google. The old marketing techniques don't work anymore. Post any questions here and I will help you out. $700 is more than enough start up capital

He will most likely have to work under a Broker before going out on his own. Most Brokers belong to NAR so he will have to join.

Save your money and when you make some money selling RE save that too.

I have to agree with Greg here, although 2 years seems a little extreme. However, don't fool yourself and think your fees are your only costs.

It will be tough to be effective for your clients without being a member of your organization. Find someone established to work with. It sounds like you will continue your other job for quite sometime so all the more reason to work with someone else to make your limited time in the business productive!

This is just the beginning. From what I can gather you will have no other option than to work until your business is able to sustain you, which may take a year or more. Don't be discouraged most of us started that way. You can always sell unwanted items and pick up an extra job for the short term to build a nice little nest egg.

I agree with the other posters here. Better save up the $700 or spend it on a website and other cheap but very effective tools.

You can always join the local and national associations later when you have the cash and time to do so.

For now, concentrate on selling and saving.