Working in real estate?

Precision · 12-30-2011, 11:57 PM

Even though the economy is rough especially considering real estate it almost seems like there is money to be made. I'm an undergrad whos always been good in sales, some make their money in medicine with advanced education, some were given it, some work in trades but what about real estate? Can someone school me on the biz? How to get in? Different areas? How to succeed?

Bimmer84 · 12-31-2011, 12:05 AM

You could always do it as a side job... Can be time consuming, but totally depends on your cliental and listings. My parents did it on the side for awhile back in the day. You can get your cert and not necessarily have to work at an agency.. Although, like you said, it's probably not the easiest time for that.

Precision · 12-31-2011, 12:08 AM

Quote:

Originally Posted by Bimmer84

You could always do it as a side job... Can be time consuming, but totally depends on your cliental and listings. My parents did it on the side for awhile back in the day. You can get your cert and not necessarily have to work at an agency.. Although, like you said, it's probably not the easiest time for that.

What does the certification consist of? If anything it'd be a good time to get into it for when it does pick up? I can sell, I'm personable and persuasive I'm just trying to iron out which field to get into. If anything sales is where one can really do well. Some just don't have personalities education can give.

Bimmer84 · 12-31-2011, 12:14 AM

Look into home inspection/appraisal actually now that I think about it... Probably more money in that right now.. You get paid to just look at a house, and not worry about selling it. You get paid regardless...

Precision · 12-31-2011, 12:17 AM

Quote:

Originally Posted by Bimmer84

Look into home inspection/appraisal actually now that I think about it... Probably more money in that right now.. You get paid to just look at a house, and not worry about selling it. You get paid regardless...

Oh don't make me post an inspection and appraisal thread!

Bimmer84 · 12-31-2011, 12:21 AM

It's pretty hand in hand... The same folks would read either thread more than likely.

Precision · 12-31-2011, 12:31 AM

Quote:

Originally Posted by Bimmer84

It's pretty hand in hand... The same folks would read either thread more than likely.

Oh I know better than to do that.

ABQ325i · 12-31-2011, 10:05 AM

I have my real estate license, I only do it part time though. Rules vary from state to state and I do not know any states where you do not have to work under an experienced senior broker for at least a couple of years before going off on your own. I don't know why anybody would want to either.

It's not the license which costs you the money, here in NM I pay about $300 every 3 years. Being a Realtor costs more, annual national fee's of $600, plus around $130 quarter, fee's to use lockboxes, fee's for the key to get into lockboxes and then the continuing education.

You also need to factor in the cost of expenses since you do not get paid until a house closes, you will also find in this economy that a lot of deals fall through during the selling process which can be quite disheartening.

There is a fine line between persuasive and pushy, in Real Estate can be a bad thing, most of my non-referral buyers come to me because the Realtor they were just working with was "too pushy" with them.

E90SoFlo · 12-31-2011, 10:23 AM

1. Getting you license is about a 3 week thing. Cost around $1000
2. You have to "hang" your license at a brokerage to do any kind of real estate transaction.
3. Its very time consuming and you have to "prospect", people will not come to you.
4. The real estate market is great, even though the news says it isn't. Don't listen to them.

Kiemyster · 12-31-2011, 11:38 PM

Dont do it unless you can do it full time. this market has money to be made, but it certainly require a higher work ethic than before. Ma and pa businesses are closing down left right and center. If your not going in with a reputable company, its going to be much more difficult.

there is alot to be said about this... long story short, dont do this if you dont have the time to dedicate to it. and keep in mind it takes months to get your first return on expenses, so be prepared to go 6 months without getting a dime. licensing process can sometimes be a pain in the ass, i suggest going to actual real estate classes unless you enjoy online classes.... i hated the online class, ended up memorizing the book to pass the exam... the exam is dick easy tho.

good luck with whatever you do.

12-30-2011, 11:57 PM	#1
Precision Private First Class 370 Rep 190 Posts Drives: 2002 BMW 330CI Join Date: Mar 2011 Location: New England iTrader: (0)	Working in real estate? Even though the economy is rough especially considering real estate it almost seems like there is money to be made. I'm an undergrad whos always been good in sales, some make their money in medicine with advanced education, some were given it, some work in trades but what about real estate? Can someone school me on the biz? How to get in? Different areas? How to succeed? __________________ Thirty Past Three
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12-31-2011, 12:05 AM	#2
Bimmer84 Guardian of the Night 111 Rep 1,831 Posts Drives: 2010 335i M Sport Coupe Join Date: Oct 2010 Location: San Antonio iTrader: (5) Garage List 2010 335i E92 [7.50]	You could always do it as a side job... Can be time consuming, but totally depends on your cliental and listings. My parents did it on the side for awhile back in the day. You can get your cert and not necessarily have to work at an agency.. Although, like you said, it's probably not the easiest time for that. __________________ 2010 335i M Sport Coupe -- Black Sapphire Metallic\|Coral Red\|Loaded\|JB4 Stage 3\|BMS DCI\|VRSF DPs\|Camaross 6k AE\|Performance Gloss Black Grilles\|CF Performance Spoiler\|CF Quad Diffuser\|Double Layer Black Chrome Quad Tips\|CF Roundels\|Smoked Reflectors\|Red Cyba Scoops\|193s Painted Lamborghini Metallic Dark Gray
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12-31-2011, 12:14 AM	#4
Bimmer84 Guardian of the Night 111 Rep 1,831 Posts Drives: 2010 335i M Sport Coupe Join Date: Oct 2010 Location: San Antonio iTrader: (5) Garage List 2010 335i E92 [7.50]	Look into home inspection/appraisal actually now that I think about it... Probably more money in that right now.. You get paid to just look at a house, and not worry about selling it. You get paid regardless... __________________ 2010 335i M Sport Coupe -- Black Sapphire Metallic\|Coral Red\|Loaded\|JB4 Stage 3\|BMS DCI\|VRSF DPs\|Camaross 6k AE\|Performance Gloss Black Grilles\|CF Performance Spoiler\|CF Quad Diffuser\|Double Layer Black Chrome Quad Tips\|CF Roundels\|Smoked Reflectors\|Red Cyba Scoops\|193s Painted Lamborghini Metallic Dark Gray
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12-31-2011, 12:21 AM	#6
Bimmer84 Guardian of the Night 111 Rep 1,831 Posts Drives: 2010 335i M Sport Coupe Join Date: Oct 2010 Location: San Antonio iTrader: (5) Garage List 2010 335i E92 [7.50]	It's pretty hand in hand... The same folks would read either thread more than likely. __________________ 2010 335i M Sport Coupe -- Black Sapphire Metallic\|Coral Red\|Loaded\|JB4 Stage 3\|BMS DCI\|VRSF DPs\|Camaross 6k AE\|Performance Gloss Black Grilles\|CF Performance Spoiler\|CF Quad Diffuser\|Double Layer Black Chrome Quad Tips\|CF Roundels\|Smoked Reflectors\|Red Cyba Scoops\|193s Painted Lamborghini Metallic Dark Gray
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12-31-2011, 10:05 AM	#8
ABQ325i Private First Class 16 Rep 158 Posts Drives: 08 E60 535i + 06 E90 330i Join Date: Apr 2010 Location: Albuquerque iTrader: (4) Garage List 2008 535i [0.00] 2006 330i [0.00]	I have my real estate license, I only do it part time though. Rules vary from state to state and I do not know any states where you do not have to work under an experienced senior broker for at least a couple of years before going off on your own. I don't know why anybody would want to either. It's not the license which costs you the money, here in NM I pay about $300 every 3 years. Being a Realtor costs more, annual national fee's of $600, plus around $130 quarter, fee's to use lockboxes, fee's for the key to get into lockboxes and then the continuing education. You also need to factor in the cost of expenses since you do not get paid until a house closes, you will also find in this economy that a lot of deals fall through during the selling process which can be quite disheartening. There is a fine line between persuasive and pushy, in Real Estate can be a bad thing, most of my non-referral buyers come to me because the Realtor they were just working with was "too pushy" with them.
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12-31-2011, 10:23 AM	#9
E90SoFlo Banned 217 Rep 2,669 Posts Drives: E90 335i Join Date: Jun 2011 Location: Naples, FL iTrader: (9)	1. Getting you license is about a 3 week thing. Cost around $1000 2. You have to "hang" your license at a brokerage to do any kind of real estate transaction. 3. Its very time consuming and you have to "prospect", people will not come to you. 4. The real estate market is great, even though the news says it isn't. Don't listen to them.
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12-31-2011, 11:38 PM	#10
Kiemyster Bimmerpost Resident Marijuana Consultant 478 Rep 3,202 Posts Drives: 320i, 325xi, 335Xi, 335i, M3 Join Date: Nov 2006 Location: Queens/NYC iTrader: (4) Garage List 2010 BMW 335i [0.00] 2011 BMW X335i [0.00] 2006 BMW E90 325xi [0.00] 2011 BMW E90 335xi [4.00] 2011 BMW M3 E90 [7.00] 2006 E90 320i [0.00]	Dont do it unless you can do it full time. this market has money to be made, but it certainly require a higher work ethic than before. Ma and pa businesses are closing down left right and center. If your not going in with a reputable company, its going to be much more difficult. there is alot to be said about this... long story short, dont do this if you dont have the time to dedicate to it. and keep in mind it takes months to get your first return on expenses, so be prepared to go 6 months without getting a dime. licensing process can sometimes be a pain in the ass, i suggest going to actual real estate classes unless you enjoy online classes.... i hated the online class, ended up memorizing the book to pass the exam... the exam is dick easy tho. good luck with whatever you do. __________________ "AMG What! S-Line Who? If you ain't got that M I got no respect for you!" '06 Alpine Weiss E90 320i \| '06 The Green Machine E90 325xi \| '11 Alpine Weiss E90 M3 ZCP \| '10 Silverstone X5M \| '11 Alpine Weiss E90 335xi
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