Teresa,
I am very interested in becoming a real estate agent. I've been a stay at home mom for over 5 years now and I'm ready to start a career. I know the market is really slow right now but I'm hoping I could have someone give me some insight on the business and the process/steps I need to take to be successful. Thank you for your time.
Dear Stacy0,
Selling Real Estate is a difficult occupation especially if you have a family to take care of. Only 10% of the Realtors who start out are still in the business after one year. The real estate schools are full of want-to-be Realtors. They think of the large paychecks and soon realize how difficult and expensive an occupation it really is.
There are many factors to consider before starting real estate sales. First off, you need to be a people person and be a good salesperson, ready to put your clients before your own personal needs. You need to have good communication and organizational skills. Just to survive at the beginning, you need to start with at least a six month to one year financial cushion, because it might take a while before you sell your first home.
Taking the coursework is the first fee you will pay. (approx. $250.) Classes are advertised in the newpaper every week, so finding a class starting up, is not hard to find. Sometimes if you sign on to work for the agency hosting the class, your tuition is reimbursed. After the course you need to get licensed by the state with costs of exam fees and licensing fees.
Starting out is the hardest part which includes: educating everyone you know that you are now a Realtor, finding clients by sitting at Open Houses, spending your own money on advertising to get your name known in the community, getting out and personally meeting people to so they know you are ready to service their housing needs. You must be flexible and willing to work long hours, if a client calls to see a house, you will need to drop everything and run to show it to them. If you don’t get to them soon, they will contact another Realtor who does have the time.
If you get through the first year or two, you might find it the most rewarding career. I personally enjoy the contact with clients, looking at homes and helping people achieve their dream of home ownership. It is just a harder career than one would think. When you receive your commission check, it is a well deserved check.
As a Realtor you are an independent contractor. You are literally starting your own business under the umbrella of a company name, and every professional organization, electronic device, sinage, lockboxes, extra classes, color copies and sometimes office space, will cost you big bucks.
Good luck and I hope this information helps.
