Becoming a real estate agent a good career move?
i live in north eastern oregon. i have always dreamed of becoming a real estate agent. but im not sure if this is a good move right now. im a stay at home mom but im needing extra income. my husband has a good job which allows me to stay home but with the prices of things some extra income would be nice. any advice would be helpful. thank you all so much.6 years ago - 3 answers
Working in RE is one job that you actually have to pay to do. Here, it costs about $2,000 to take the course, do the required background check, take the test, pay your dues to the various organizations, and get your lock box key.
It can take quite awhile to get established. If you are a joiner and everyone in town knows and likes you, it will be easier.
Your schedule has to be very flexible, especially in your first couple years. A few Sundays ago, I had planned a day off to hang out with hubby. But some clients called and wanted to go to open houses, so off we went.
You will have monthly expenses, these will vary by brokerage. Some places can be very expensive to work (typically franchises), some are cheaper.
You only get paid if you are selling, so it can be frustrating to write your brokerage check every month if you don't have checks coming in.
Also, we are independant contractors, so we get a 1099 at the end of the year and have to pay our own taxes. You have to be quite organized in keeping track of your mileage, expenses, receipts and such.
I am not trying to scare you, just paint a realistic picture of what you are going to be up against.
Don't let anyone tell you that you cannot do it. Market, schmarket, those willing to work hard can make it in any market, the weak are leaving the business. And there is nothing like the look on people's faces when they have found "the" house, or the joy at the signing table after you have helped someone buy their dream.
Good luck to you in whatever you decide.
Source(s):6 years ago
It all depends on how hard you want to work, Breaking into the Real Estate Market is difficult and even more so today. You would be best off looking at what the costs are involved and also asking agents what they think of their real estate experience.
Right now is a horrible time to become an agent. Even in areas that haven't been greatly effected by the declining markets realtors are still having problems finding new clients and selling the properties of the homes they're listing. And with tighter restrictions on lending it's difficult for purchasers to qualify for a mortgage with anything less than great credit.
I'd ask a few realtors in your area how their business is doing. i'd bet that most aren't having half the closings they were a year ago. But, perhaps I'm wrong make some friends in the industry and see how they're doing before you make the commitment to enter an industry that is potentially floundering right now.