Is now a bad time to become a real estate agent?

Question

I have spent the last 15 years working in the tech field. I am pretty bored with it all. I am interested in becoming a real estate agent with hopes of becoming an appraiser or inspector.

I am wondering if the downturn in the economy has made it impossible to make money as an agent?

Answer 1

.    This is the absolutely best time to get into real estate.  The brokers actually have time to teach you.  WIth 140 agents in an office, the training has been a joke for the last 6 years of boom times.  YOu won't make much money in 2008 but you will learn what you need to know.

Answer 2

those people who invested in real estate and still own houses that they bought for a high price back then are in trouble today. but if you are just starting, this is a great time. no matter where it is, I believe the market has to bounce back. the real estate market is in the slums right now and the prices are low. so if u buy now in cheap price, you can sell it once the market bounces back. so i think if u understand the market and can figure out which properties might be valuable for future then this is a perfect time to be a real estate agent.

Answer 3

Hi,

Downturn in the economy will sure affect the volumes of money made but it will not affect the real estate business as such. Start small and grow with time. Mobile homes investing is one of the niche area you may consider. But be aware of the game, rules and everything before you allot the funds.

Answer 4

It's an absolutely AMAZING time to get into real estate INVESTING.  Those who aren't making money NOW don't understand how to work the market.  

PERSONALLY, I would advise against becoming a realtor and FOR becoming an investor on your own.  The stuff you are taught in Realtor classes is REAL inside the box thinking.  You can make WAY more money thinking OUTSIDE of the box LEGALLY (lease options, subject-to's ect).  KEEP your tech job while you begin to attend your local real estate club meetings and start to read up.  Why work for comission when you can work for ALL the money yourself and OWN the assets!!  Coming up in the next few years is a PERFECT time to buy and hold apartments.  With the housing crunch the way it is, more people than EVER need affordable apartment housing, and the money is great.  

Realtors are GENERALLY small thinkers.  THINK BIG, and profit FOR YOURSELF!

Here are some resources to start on your path!  Use them even if you DO choose to go Realtor- they are HUGE benefits to your personal toolbox!!  This is how people are thinking these days!

www.reiclub.com - AMAZING FREE RESOURCE with HUNDREDS of free ebooks, webinars, teleseminars, news articles and forums.  

The ABC's of Real Estate Investing by Ken McElroy  http://www.amazon.com/Rich-Dads-Advisors...

Cashflow Quadrent by Robert Kiyosaki

http://www.amazon.com/Cashflow-Quadrant-...

(The title of this book may seem like it's not about real estate investing, but it will HUGELY effect your thoughts on WHY you should invest NOW, rather than continue to work traditionally)

Prophecy by Robert Kiyosaki

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

Answer 5

I would say yes, it'll be much easier to get up to speed during these slow times. You'll need about one year's living expenses saved. The average is 9 months before a new agent starts earning a livable wage. Also consider that RE is a nights and weekends job, might be real hard to adjust if you have a family, and are used to having your nights and weekends off.