Real Estate

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regder said:
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.
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In my search for a career change, I've realize if you search long and hard enough, there will be negativities about it.

Maybe I should take your advice, I don't mind working with cars. Its actually something I love anyway. The question is, would I enjoy pitching a sale to someone???

Thanks
 
raginduck said:
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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I was actually hoping to get my license, so when things finally picks up, I'll hit the ground running. Plus I was hoping that I can just do that on weekends and a side project, while also maintaining a full time job
 
RockerGuy said:
In my search for a career change, I've realize if you search long and hard enough, there will be negativities about it.

Maybe I should take your advice, I don't mind working with cars. Its actually something I love anyway. The question is, would I enjoy pitching a sale to someone???

Thanks
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I think selling cars is a great jumping off point. Bikes and other adult toys could be another jumping off point. When you are passionate about the product it's easier to sell.
 
My brother is an agent.

You can expect a year or more of zero income once you get licensed.

Keep that in mind.
 
rich6969 said:
late hours dealing with stupid people and stupid low ball offers...
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You sound like an agent, lol.

I want to hear the agent's side of the story
 
I wouldn't expect much positive or helpful advice from an agent, for multiple reasons.
 
RockerGuy said:
Thinking of doing my real estate license. What are your thoughts?

I haven't done much research yet, about to do it now
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Don't do it man. Its not like it "used to be".

Like Travel agents and video stores, Real estate (not necessarily commercial, or specialized markets) is one of those things that will be doomed because of our great internet. Many agents are cutting their commissions. Its a cut throat industry!

Due to the popularity of sites like www.comfree.com and others, people don't see the benefit of $15k, 20k, 30+k to an agent for their commission when you can list your own house for a few hundred dollars and COMfree gives you all kinds of help and advice. Who needs an agent? Thats money they can keep in their pocket. There is an explosion of real estate websites with different gimmicks to help you sell you home. MLS is no longer exclusive, now anybody can join by jumping through a few hoops.


BTW, I've sold 3 houses privately, and bought 3 propertys over 10 years with as little real estate agent interference as possible. With the commission I figure I've saved, I bought my wife a shiny new 2012 Acura with money left over. :D
 
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I have nothing to say bad about my real estate agent but then again she is a family friend and i was buying.

On the flip side i was the easiest commision she probably made. I personally went on MLS, picked out the houses i wanted to see, had her spend 5 hours out of her day showing me the 3 houses and we made an offer on the first one we saw (it was the best one by far). Another meeting to solidify the paperwork plus one more drive up for the first house inspection and she was done driving around.

For making it so easy for her she paid for my house inspection ($300ish).

Now when it me selling the house and buying another one, unless she gives me a great deal (along the lines of 1%) i'm listing it myself.

Like someone said, the Internet and the information available to everyday folks is KILLING the real estate agents. The ridiculous house prices leading to high $$$ commission is another one.
 
The most important skill is selling yourself. In the beginning, you are going to have to put in a large majority of your time getting your name out there, building business contacts. There will be substantial investment in advertising, and client relations building. Be prepared for that.
 
a friend inquired about getting into this about couple of months ago. I dont know the details, but after getting all the info, he said its not worth it anymore.

i also heard from somewhere that there is a company out there who will sell you the house without commision but there fee will be $1000 regardless of the price of the house. again i dont know more details about this said company. just from what i heard.
 
I just got my foot into it...have always been curious...Initially you have 18 months to complete 4 separate phases(book/online/or inclass-your choice...w/ test at the end of each phase...each phase takes approximately 1.5-2 months to complete) @ avg. $440 each phase...you have to pass each to move to next one (75% min. score to pass). then you get your licence and for the next 2 years you have to do 3 more phases(courses). when you get your licence you have to pay for an insurance premium and pay monthly brokerage fees as well.

Too many phases in my opinion...but then again it's a money generating business they are in.

I have another primary job and wouldnt risk taking this up as a primary career...something you should think of unless you have some financial backing.
 
kawi_ said:
I just got my foot into it...have always been curious...Initially you have 18 months to complete 4 separate phases(book/online/or inclass-your choice...w/ test at the end of each phase...each phase takes approximately 1.5-2 months to complete) @ avg. $440 each phase...you have to pass each to move to next one (75% min. score to pass). then you get your licence and for the next 2 years you have to do 3 more phases(courses). when you get your licence you have to pay for an insurance premium and pay monthly brokerage fees as well.

Too many phases in my opinion...but then again it's a money generating business they are in.

I have another primary job and wouldnt risk taking this up as a primary career...something you should think of unless you have some financial backing.
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No wonder the commission is so high
 
killerkeith said:
GTAM, crushing hopes and dreams of it's members since 1999
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I think I should apply for a job at RIM.

After cruising thru their parking lot, they've brought a whole lotta dreams and aspirations :D
 
RockerGuy said:
I think I should apply for a job at RIM.

After cruising thru their parking lot, they've brought a whole lotta dreams and aspirations :D
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Have you considered the funeral home business?
Talk about job security!!!
People are dying to get in.
 
Gary said:
Have you considered the funeral home business?
Talk about job security!!!
People are dying to get in.
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I don't like talking about the dead :)
 
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