The honest truth about being a Brand NEW Realtor ...?

Question

I'm just really wanting to know the down to hearth honest pros and cons of being a brand new Realtor .. from a actual Realtor.

I have been kicking around the idea for some time about becoming a real estate Realtor. And I'm just wanting some Info from people that have been there and done that.

Answer 1

Being a Realtor is owning your own  business. While Associates have to have their licence under a Broker, how you conduct our business, as long as it is legal is up to you.  You need to be diciplined and prospect every day.  You will pay part of your commission to your broker and most of the rest will go to pay all expenses, as well as all health, car and equipment insurance and employment taxes.   It would help if you had a couple years income to live on while you are getting your business going.   You don't need all the new fangled gadgets to get business. You need to be honest, straightforward, a pleasant personality/happy/smiling and not afraid to talk with everyone about what you do and how you can help them.  You are there to help them, not sell them anything.  Best advise, start with Floyd Wickman tapes. Don't waste your money on schemes to get you more business, prospecting the cheapest way you can, knock on door, send flyers/mailers, letters, call those you can.  Pick a neighborhood and call to introduce yourself - as long as the number isn't on the Do Not Call list.

I've been in the business for nearly 20 years.  It isn't a good time to become a Realtor. There isn't enough business to feed all of us. Some of us are losing their homes because we have no income, and once you're a Realtor no one will hire you in a bad market. They know you'll split once the market picks up.

If I can assist you further, just email me. Glad to help.

Answer 2

As a brand new Realtor, you cannot expect business to fall into your lap.  You will need to make a thorough list of your personal and professional contacts and advise them of your newfound career and ask for their business and recommendations from their contacts as well.  Once that is done, you start working FSBO's to see if you can convert some of them to listings.

There will be 'opportunity time' provided for you to answer the incoming calls at the brokerage which you select, but that isn't going to get you going on its own.  I'd advise having at least six months of 'living expense money' set aside to carry you through the start up period.

Answer 3

I work with Realtors, on a daily basis.

The new ones tell me it is tough. You don't really make any money for the first few months. It is kind of expensive, for all the courses, fees, etc.

The best thing to do is get as much floor time as possible! That way anyone calling the office or walking in to it will speak to YOU. That way you will get the deal.

I suggest you call a local RE company and talk to a Realtor and see what their feelings are.

Good Luck!

Answer 4

Take a look at the price of fuel, it is rising simply because of speculators buying and reselling fuel and never actually using it.

Realtors have been doing the same thing for years and are the primary reason real estate rises in price. Realtors make a percentage of the sale price so they try to get as much for a property as possible. They also buy property on speculation and resell when they can attract sufficient money to " make a killing".  This is the primary reason prices shot up during the last 5 years and why the rise was unsustainable, thus the crash we are in now and all of the people owning property are loosing their shirts, except the realtors!.  

Know any realtors driving Hondas?

If you can live with yourself knowing that you are doing this to people then go for it. There are plenty of scumbags already, might as well join them.

Answer 5

First, you won't get honesty from a Realtor, that's an oxymoron.

Second, Realtors, the gofers of brokers, make only money as listing agents and only 4% of all realtors make decent money at all.

Average realtor income is 18,756 annually, not enough to live or die.

Answer 6

Right now is a horrible time to start...I'm serious...you will do nothing but spend money and go nowhere.

The market is very, very difficult for even seasoned pros.

Please put this dream on hold...just for now.