I have alway been interested in becoming a realtor, I am just concerned with todays economy that sales would ?

Question

be to far between, or do you think with the housing market and foreclosures that there will be alot of people looking to buy while prices are lower? I am in Connecticut and I know it is not sellers market but are people still buying? And how do you survive financially in between commissions while spending money on marketing?

Answer 1

The best option is not to invest your money and still make profits. But you need how to do this. The source urls can help you.

Answer 2

I hear reports that many real estate agents are dropping out of the business.  The boom and bust cycle of the residential real estate market is not for everyone.  So, a percentage of agents just drop out when the market crashes.  I think the lesson is that you should enjoy your work for more than the money.  To be blunt about it, many young people entered the hot 2003-05 market for the "hot money."  Now, is the time to study for your exams.  I would seek an insurance license in the same time frame. The insurance business acts as an income supplement when your real estate business is in the tank.  You can spread your marketing time and money into either real estate or insurance as market conditions warrant.  Pursue the certification.  Good luck.

Answer 3

If you are worried about surviving between comissions (which yes, can be a very real fear in this market) why not become a real estate invester instead??  Realtors rely on other peoples transactions to make money, and they are taught to be INSIDE the box thinkers.  Investers are making LOADS of cash in this "sellers market" right now because they are OUTSIDE the box thinkers, and they don't have to wait for someone else to make a move!  

Use your smarts to put MORE money into your own pocket.  Here are some resourses to start!

www.reiclub.com   Free site that has hundreds of free ebooks, webinars, teleseminars, news articles and forums.  Also will help you find the nearst investment club in your area, which you should join.

The ABCs of real Estate Investing by Ken McElroy

http://www.amazon.com/Rich-Dads-Advisors...

Rich Dad Poor Dad by Robert Kiyosaki

http://www.amazon.com/Rich-Dad-Poor-Mone...

(this one may seem like an odd pick, but it will help you understand why you need to break out of the traditional roll of "having a job" and start investing NOW)

Prophacy by Robert Kiyosaki

http://www.amazon.com/Rich-Dads-Prophecy...

Answer 4

.  This is the perfect time to learn.  The brokers actually have time to teach you the business. That hasn't been true for the last 6 years of realty boom times.  I made $1,900 my first year.  I took only 3 days off. Get to work.

Answer 5

People are buying, but from the better agents, this is not a time to start unless you have a bunch of investor friends.

Answer 6

While this is not the best time to get into real estate where deals are easy to come by, it is a good time only because of agent competition is down.  If you get into the industry now while times are bad, it is you who most people will remember when housing makes that turn around.  

Insofar as income is concerned, there are two hot areas in the market.  One is REO's where if you have the listing, you're sure to get a sale assuming it's priced right.  Two is FHA lending and the new revisions for both loan amounts and the FHA Secure product (helping those with their adjustable rates).  Ideally, providing your state allows it, you work for a broker who not only offers sales, but also loans, more specifically, FHA.  To go one step further, find a broker who performs BPO's and REO listings.  I'm a broker in California and I give my agents my REO's.

Answer 7

The real estate market depends on where you live.  In my town in N. Central FL,  many of the small real estate offices have shut down, so real estate here wouldn't be smart.  In a state like the Virginia, the market is better.

There is nothing wrong with taking the course though.  It is always good to have as many skills and training in various careers.

Answer 8

Whether it is a sellers' market or a buyers' market, there are always more people buying houses than there are selling houses, if you think about it.  Or there would be no reason to build houses!

To be successful in ANY business in ANY economy, you have to realize that all markets "ebb & flow", that all "current market conditions" are temporary, and that to succeed you should ignore any "big picture" and focus on the local picture that is the particular deal you want to "close".  

Regardless of economic conditions, people need somewhere to live.  If you can successfully match appropriate properties to appropriate clients, you can make money as a realtor regardless of the "news"...

Good luck!

Remember, you will always make a profit if you take a little bit of commission from each sale, and you will always make the sale if you show the customer what they want at a price they want to pay...