Thinking of doing my real estate license. What are your thoughts?
I haven't done much research yet, about to do it now
I haven't done much research yet, about to do it now
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Real Estate
- Thread starter RockerGuy
- Start date
Will do, I don't recall seeing him in a long time
invictus43
Well-known member
Personally, I'd rather pull my fingernails off with a pair of pliers than be a "real-estate agent"..which to me is a gussied up term for a used-car salesman. 
However, some people are born to do this kind of thing and if you enjoy it, go for it. I would only keep in mind that our real-estate market is likely to take a hit shortly and this might not be the best time to get rich at it.
However, some people are born to do this kind of thing and if you enjoy it, go for it. I would only keep in mind that our real-estate market is likely to take a hit shortly and this might not be the best time to get rich at it.
Personally, I'd rather pull my fingernails off with a pair of pliers than be a "real-estate agent"..which to me is a gussied up term for a used-car salesman.
I know its in the crapper now, but people will always need to buy houses.
Did they sell u a rock for a house?
frekeyguy
Well-known member
Let me know BUDDY!
(wink wink)......you won't charge me comission right? ....(nudge nudge)
People will always need a place to live, but not everyone needs to buy a house, let alone should they.
Gone are the days of ridiculously low rates and Zero or 5% down-payments.
Maybe focus on helping people Rent properties instead?
Commercial real estate is also an interesting field if you still wanna go the real estate route.
Good luck!
invictus43
Well-known member
No, not at all. I just know the job a bit and honestly, you have to sell to make money. It's the ultimate commission job. They'll say anything to get you to buy. Obviously, they're not all like that, but I find they have a hard time turning off the BS. I feel like I need to take a shower whenever I speak to one of them. I remember one asking me what I thought of the price of a house and I said it was too much. And he said "Oh how much are you approved for? I have a mortgage broker right here, I'm sure you can be approved.." And I said "No, it's overpriced..I'm approved for well more than you're asking." and he just looked at me like I was an alien.. It's like buying a car.."well, what can you afford a month?" People blame banks for the US housing crisis..I blame agents just as much..
Having said that, go for it!
Seriously, like I say, it's a job that needs to be done and if you enjoy it, go for it!
“I think it is fairly clear that home prices are overdone in certain urban areas. The map I’ve done says if we ever return to normal interest rates, home prices are 15 per cent too high,” says RBC’s Eric Lascelles said.
“If indebtedness continues to grow at its current pace, the household debt-to-income ratio will reach 160 per cent by 2013 – the level hit when U.S. households got into trouble,” says TD’s Diana Petramala.
“Corrections in housing do occur and they can occur suddenly, so while this is not a red alert, we are not flashing green, either,” says BMO’s Sherry Cooper.
also:
http://www.rbc.com/newsroom/pdf/HA-1125-2011.pdf
http://www.cbc.ca/news/business/story/2012/01/10/bmo-rbc-housing.html
These same banks have done stress tests and can take a 25% hit in case things go south. Can you?
invictus43
Well-known member
Its interesting, I thought about it as a career change.
You dont need to sell the house to get a piece of the action , you need to get the listing, then you get a split. For every 100 salesguys there are 10 that actually sell the properties.
I've bought and sold several properties, I have a relationship with one agent that i use, I trust him and he's not an idiot. I've have met a lot of agents that i wouldn't let list my garden shed. Lots get into the business thinking its huge commissions and easy money, you need to network and market and be realistically bright to make a go of it. I find nothing drives me crazier than the "what will it take to get this deal done" style of selling. The used car analogy is a good one.
You dont need to sell the house to get a piece of the action , you need to get the listing, then you get a split. For every 100 salesguys there are 10 that actually sell the properties.
I've bought and sold several properties, I have a relationship with one agent that i use, I trust him and he's not an idiot. I've have met a lot of agents that i wouldn't let list my garden shed. Lots get into the business thinking its huge commissions and easy money, you need to network and market and be realistically bright to make a go of it. I find nothing drives me crazier than the "what will it take to get this deal done" style of selling. The used car analogy is a good one.
Sure willLet me know BUDDY!
No, not at all. I just know the job a bit and honestly, you have to sell to make money. It's the ultimate commission job. They'll say anything to get you to buy. Obviously, they're not all like that, but I find they have a hard time turning off the BS. I feel like I need to take a shower whenever I speak to one of them. I remember one asking me what I thought of the price of a house and I said it was too much. And he said "Oh how much are you approved for? I have a mortgage broker right here, I'm sure you can be approved.." And I said "No, it's overpriced..I'm approved for well more than you're asking." and he just looked at me like I was an alien.. It's like buying a car.."well, what can you afford a month?" People blame banks for the US housing crisis..I blame agents just as much..
Having said that, go for it!
I guess it depends on the style of the salesman.
But if u know what a salesman's gonna do, u should be prepared. Like if u go to a mechanic, u expect certain things and u are not obliged to agree with everything he says. Its your money and u call the shots. Some salesmen know who are easy targets and who're easily persuaded.
People will always need a place to live but they DEFINITELY won't always need to pay a used car salesman 5% commission on the transaction! There's a big movement happening now towards very low commission listings and by-owner sales. These same sales are now also being listed on the MLS for low fees, so you get exposure to the same exact marketplace as agents do, but without the insane commission.
This, coupled with the fact that it's a very difficult career to get started in, would immediately turn me away from pursuing it. Once its gone, its gone.
Just think about how stupid the system is. I sell my 500k house and a realtor gets 25,000 dollars? For what? Showing the house to some shmucks and filling in some paperwork? It's retarded, and it will soon (hopefully) be over.
invictus43
Well-known member
I would say the predatory style is prevalent because of the monetary rewards involved. It's like buying clothes from a salaried employee versus a commission sales person. I HATE shopping at Harry Rosen..
Maybe about five years ago, I knew four people in my immediate circle of friends that were real estate agents. Now, not a single one of them is still in that profession.
There's no way to fluff it up, real estate is a sales game. To be successful you have to have the personality of a salesperson. Very few people are good at this. By that, I don't mean the cliche slimy sales guy in a cheap suit, those guys are usually not successful. The best sales people are the ones that on the surface appear to be your friend and aren't even trying to sell you anything.
There's no way to fluff it up, real estate is a sales game. To be successful you have to have the personality of a salesperson. Very few people are good at this. By that, I don't mean the cliche slimy sales guy in a cheap suit, those guys are usually not successful. The best sales people are the ones that on the surface appear to be your friend and aren't even trying to sell you anything.
Any ideas why they quit??
It's an easy profession to get into, but very few are successful at it. Even if you are able to sell a few listings, the income is very sporadic. As I mentioned, it takes a very specific personality to be a good sales person. Very few people have that sort of ability, which is probably for the better. Not to mention that anyone and everyone was getting their real estate license five years ago so the market was over saturated.
If sales is something that you are interested in, try car sales first before you commit to getting your real estate license. The Omvic license is $50 or $100 I think, and it's pretty easy to get a job as a new car salesman, even without experience. It will give you an idea of how good you are at the task and what it takes to be a good salesman.
The market was flooded over the past few years with people trying to get in on the action. When the action slows.... like it is now... and probably will be for some time... it is not be a good time to get into it... IMO.
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