Is anybody here a Real Estate agent?

[tktaylor1]

Over the past few months I have been researching potential careers I could see myself doing. I have narrowed my major down to Business Administration. Real Estate agent has continuously caught my eye so I was wondering if anybody on here is a Real Estate agent. If there are can you help me out on the following things: what you do on a normal day, what type of schooling I should take, and how hard is it to get into this profession. Also can you tell me how much commission you make off of your houses. What percentage? Thanks.

 

[mscriv]

tktaylor1, I'm not a real estate agent, but my father is. He's been an agent and broker for 30+ years and lives in Nashville. I'd be happy to see if he'd be willing to trade emails with you or possibly even meet you for lunch some time.

As far as your basic questions. The typical commission on a sale is 1%, but there are various factors that can play into either raising or lowering that commission. To be a realtor you have to maintain a professional realtors license and that means there is a licensure test and there are annual fees/dues. Most realtors work with an agency, like my father is with Crye-Leike Realty. However, from what I understand you are an independent contractor of sorts and pay to be a part of an agency, but the benefits far outweigh the costs associated. For schooling, I would say basic business and marketing would be good. Finance is another option and would be beneficial as well.

All of real estate is about selling and networking. However, the field has changed a lot in the past 20 years with the advancement of technology. In the old days an agent would spend lots of time with buyers driving them around town and showing them properties. Now most buyers want to screen properties on the internet and typically narrow things down before even meeting with an agent. In fact, many people today buy a house without using a realtor at all. However, it's different for selling where there is a definite advantage to having a realtor involved. In this respect realtors are like marketing agents who use their network connections and expertise to help you sell your property in a reasonable amount of time and at the best price you can get. They will do a market analysis of a given area, research sale history, and can help by being knowledgeable about the legal and financial aspects that the average consumer doesn't know.

Speaking as the child of a realtor I can tell you that what I appreciated most about my dad's job was the flexibility it provided. Hours can be long, but realtors are free to set their own schedule. My father made it to all of my activities growing up and it's because he didn't have to punch a clock with set hours on a daily/weekly basis.

I hope this info helps. Feel free to PM me if you want me to talk to my dad.

 

[tktaylor1]

Thanks for the reply. I am guessing nobody else on this whole forum does this kind of work. I will PM you.

 

[renewed]

I hold my real estate license and worked in real estate for a few years (got my license when I was 19). I just had to find myself and am still trying to (24 years old now).

Here in Texas I went through a school specially designed for real estate classes and to get the requirements to take the licensing exam. It varies by state. If I were to move I would have to get the requirements for whatever new state filled and take their test.

Education cost is less than $1,000. Here in Texas it is a few hundred to get the license. All and all looking at less than $2,000 here.

You get what you put into it. If you want to work a few hours a day you will get that in return (nothing most likely). The harder you work the more you will achieve. As stated it is mostly who you know and networking. Once you get a few homes under your belt (sold or represented buyers) you need to advertise the success to others. You build a cliental that you keep forever essentially. Someone you sold a house to in 2001 may refer you to 2 other people. That same person could come back to you in 2005 to buy another house. Those 2 people buy in 2002 and come back in 2006 etc... they refer 2 other people etc...

You are your own boss so you need to be disciplined and creative, clean cut, professional verbal skills, computer knowledge (it is the 21st century) as well as the ability to talk to strangers with confidence and assertiveness etc...

Hope that gives you a small glimpse.

 

[callmemike20]

Rule #1: Don't let anyone tell you this is a profession you shouldn't get into (especially in this market).

I know a few realtors who had their best years ever during this recession.

 

[tktaylor1]

Thanks guys. I like the idea of being my own boss because its all on me. If I do good, all the credit goes to me and if I do bad its all my fault. That is the way I like things. Thanks for the replies guys.