View Full Version : Real Estate Agents?
dimsum
04-18-2007, 12:32 AM
I'm interested in getting a license. How hard was the test ( i know it varies state to state but there should be a common consensus how hard it was). Also, how does being a real estate salesperson work. do You HAVE to work under a broker? You cannot sell under your own name? Also, I know when you find someone a house, the person selling the house cuts you a 1-2% commission. Is this the case in all cases?
mr2guysingh
04-18-2007, 12:33 AM
I heard its real hard if you dont study.
03DSM-RSX
04-18-2007, 12:33 AM
interested in doing this as well this summer for a side job.
fahkin80s
04-18-2007, 12:52 AM
getting a license was easy for me. Every state/board is different. I have been involved in real estate my whole life, so some things were easier for me than others who were in the same classes. that said, if you pay attention/read, you will be fine. I wouldn't stress it too much. there are some big time retards who are real estate agents, and if they can do it you probably can too.
you must sell under a broker. each brokerage is different. some are hands on, others are just looking for the monthly fee.
when a house is listed on the mls, there are two commissions to be paid (seller's agent and buyer's agent). if i list your house, and i sell it to someone (not through another agent), I would make both commissions. some agents give some of the buyers commission back to the seller.
i don't sell anymore, but i used to. I was involved in land sales and development, so my experience is different. i think it is a good job, but don't expect to just become an agent and start making coin. at the beginning it takes a while to build a client base and get some experience. once you have put some work into it, it could pay off.
interested in doing this as well this summer for a side job.
it is not a good side job unless you've previously put a lot of work into it. i feel that part time agents are usually shit. i would never want a part time agent selling a house for me, especially as the market turns. remember, a monkey could sell a house in a good market. a good agent is worth the commission when the market is slower.
808ster
04-18-2007, 12:56 AM
If you past your test, move to Hawaii!! Trust me dude, I work construction here, and property value is increasing dramatically. Homes sell for $1 million and up here. People who bought land here 7 years ago for $1500 an acre are selling it for $300,000 and up. Its crazy.
something i've noticed:
"i'm in real estate" = unemployed
lol of course this doesn't apply to everyone, but it's what i've witnessed.
808ster
04-18-2007, 01:32 AM
something i've noticed:
"i'm in real estate" = unemployed
lol of course this doesn't apply to everyone, but it's what i've witnessed.
Here in Hawaii, being in real estate. Makes you alot of money.
aywwsd
04-18-2007, 01:35 AM
in any sales job.
the top 10% makes 90% of the money.
if you suck, you dont make money.
phattony3333
04-18-2007, 01:37 AM
In WA state commission is usually 3% each, but like what Fahkin said, the MLS tells you. I personally think 3% is way too much for most transactions, but thats the way it is.
03DSM-RSX
04-18-2007, 09:37 AM
it is not a good side job unless you've previously put a lot of work into it. i feel that part time agents are usually shit. i would never want a part time agent selling a house for me, especially as the market turns. remember, a monkey could sell a house in a good market. a good agent is worth the commission when the market is slower.
good advice!
one of the main reasons why i'm doing it is to actually help my family buy a new house. My dad's friend owns a brokerage and his son is a good friend of mine also, so i'll be joining his if i do it.
Here in Hawaii, being in real estate. Makes you alot of money.
It actually ends up being about timing. Too many people think real estate is easy and or guaranteed money. You have to know the current market, the anticipated market, and a whole lot of other things.
White_02
04-18-2007, 10:01 AM
It's pretty hard, but if you pass it, there's a good oppurtunity to make some pretty serious money...if you know what you're doing.
Usually your first year is going to suck because if you have a good broker, they should be sending you to as much schooling as possible so you don't get yourself or them in trouble by making a costly mistake.
Azzurri
04-18-2007, 10:06 AM
getting a license was easy for me. Every state/board is different. I have been involved in real estate my whole life, so some things were easier for me than others who were in the same classes. that said, if you pay attention/read, you will be fine. I wouldn't stress it too much. there are some big time retards who are real estate agents, and if they can do it you probably can too.
you must sell under a broker. each brokerage is different. some are hands on, others are just looking for the monthly fee.
when a house is listed on the mls, there are two commissions to be paid (seller's agent and buyer's agent). if i list your house, and i sell it to someone (not through another agent), I would make both commissions. some agents give some of the buyers commission back to the seller.
i don't sell anymore, but i used to. I was involved in land sales and development, so my experience is different. i think it is a good job, but don't expect to just become an agent and start making coin. at the beginning it takes a while to build a client base and get some experience. once you have put some work into it, it could pay off.
it is not a good side job unless you've previously put a lot of work into it. i feel that part time agents are usually shit. i would never want a part time agent selling a house for me, especially as the market turns. remember, a monkey could sell a house in a good market. a good agent is worth the commission when the market is slower.
this guy is spot on....
the test is easy, so long as you prepare....a lot of states require continuing education bullshit now, so that is a pain in the ass if you are only planning on part time work....as mentioned part time agent is basically pointless, if you want to make any consistent money its a full time job and right now even the good full time agents are probably struggling for consistent money....
ive had my license since '02 i think and the only reason ive bothered to keep renewing it is because i like having the ability to make an offer instantly if i see a property i like on the mls....
White_02
04-18-2007, 10:07 AM
....a lot of states require continuing education bullshit now, so that is a pain in the ass if you are only planning on part time work....Yeah, but if other states' continuing ed are like FL's, it's once every 2 years so it's not too bad I suppose :dontknow:....as mentioned part time agent is basically pointless, if you want to make any consistent money its a full time job....Agreed
Down_Shift
06-05-2007, 01:02 PM
Anyone in the Real Estate field?
I'm thinking bout getting my license.. think it's worth it?
I figured it would be a decent job since I live and go to school in Boston.. Would probably be easier to get students to lease/rent etc.
gulie
06-05-2007, 01:05 PM
Yes. Very good choice.
HIT_MAN
06-05-2007, 01:09 PM
i'm interested in this as well. I'm a little skeptical because it seems like every one is doing this now.
Smalls
06-05-2007, 01:12 PM
isn't it primarily a commission based salary?
i have some friends who looked into becoming real estate agents and decided that there was more money in mortgage brokering.
02Dawg
06-05-2007, 01:14 PM
As long as you don't mind working 7 days a week until 8pm including all day Saturday, having little to no income coming in from December until May, and spending every moment on your cell phone.
It's a great and profitable business, but very demanding.
rsxxsj
06-05-2007, 01:15 PM
my friend just got his license.
im thinking of getting one too
albundy
06-05-2007, 01:16 PM
saturated market.
everyone and their mom's are in real estate in one form or another.
White_02
06-05-2007, 01:16 PM
It's a great and profitable business, but very demanding.Agreed.
I've been in it for a few years doing behind-the-scenes type things for my dads company, but now I'll be taking my state exam in a few weeks so soon-to-be 1 more on the list of licensees in the office :spin:
In a way, we have it easy down here compared to most other areas.
We don't need to sell as much quantity-wise as up North based on our ridiculous prices.
Then on top of that, the local agents were spoiled before all the hurricanes, because sales were through the roof and yet they didn't even have to do much work, mainly just rich people writing checks and that's that. Now they see what real work is, no work, no food.
Rydah858
06-05-2007, 01:21 PM
are you a hustler? are you fine w/ lying to people and getting them into shitty loan programs just to sell them a house? lol j/k.
real estate is always good but you gotta hustle hard for the money these days and over the next several years. you won't see a boom like the last 5 years for a long while.
Azzurri
06-05-2007, 01:24 PM
i have my license, though i dont practice full time....
its definitely not an easy business, as with most sales jobs, you will deal with a lot of douchebags, a lot of BS leads, and a lot of false hope....you can make good money but you have to hustle your ass off....its one of those businesses where 80% of the money is made by 10% of the people....
also, depending on what broker you work for, you will incur a decent amount of cost just to maintain your license....i'm sure it varies state to state, but in connecticut it runs me about $800-900/yr (license fee, e&o insurance, mls fees)....to me just having mls access alone is worth the money, but to each their own....
EDIT: throw in another $150 or so for the continuing ed BS requirements that a lot of states have now.
Parks
06-05-2007, 02:05 PM
isn't it primarily a commission based salary?
i have some friends who looked into becoming real estate agents and decided that there was more money in mortgage brokering.
Mortgage brokering FTMFW - it is what I do :thumbsup:
It's a good choice, and you also get insider pricing on land and who's selling and who's buying.
You start to realise that land is the only thing besides gas nowadays that has never depreciated in price and never will.
Only way to depreciate in price is to actually have a high rise in crime in the area, which you only sell to suckers at that point.
On a positive note, getting your Real Estate license only costs a little for what it is really worth.
Real Estate is like getting a car sales permit, once you start buying and selling, it becomes a habit and anything you buy can turn into gold (profits)
DesertSilverRSX-S
06-05-2007, 02:11 PM
are you a hustler? are you fine w/ lying to people and getting them into shitty loan programs just to sell them a house? lol j/k.
real estate is always good but you gotta hustle hard for the money these days and over the next several years. you won't see a boom like the last 5 years for a long while.
if you're lying to people and getting them into crappy loans, you're not a very good mortgage agent. You might make some quick money but it wont last. Just be upfront about the loans with the people and let them make their own choices
tinman
06-05-2007, 02:15 PM
Get it! I am in Real Estate but more leaning towards Title Insurance part of it. Working on getting my Title Insurance License!
Rydah858
06-05-2007, 02:16 PM
if you're lying to people and getting them into crappy loans, you're not a very good mortgage agent. You might make some quick money but it wont last. Just be upfront about the loans with the people and let them make their own choices
i;m not a real estate agent. i'm just telling it how it is in today's market.
but you definitely won't hear the truth from them, which is "Now is not a good time to buy" (in 90% of the u.s. markets). You'll mostly like hear "You don't qualify for this loan or rate, but we can get you into this loan at this rate, but don't worry blah blah blah... just buy the house and it will be all good." You'll never hear "In all honesty, you really can't afford this house."
fahkin80s
06-05-2007, 02:23 PM
It's a good choice, and you also get insider pricing on land and who's selling and who's buying.
You start to realise that land is the only thing besides gas nowadays that has never depreciated in price and never will.
Only way to depreciate in price is to actually have a high rise in crime in the area, which you only sell to suckers at that point.
On a positive note, getting your Real Estate license only costs a little for what it is really worth.
Real Estate is like getting a car sales permit, once you start buying and selling, it becomes a habit and anything you buy can turn into gold (profits)
you are speaking as if it is based on fact, yet you are talking out of your ass.
http://forums.clubrsx.com/showpost.php?p=13301918&postcount=4
this was my response in another thread about real estate.
Parks
06-05-2007, 03:00 PM
if you're lying to people and getting them into crappy loans, you're not a very good mortgage agent. You might make some quick money but it wont last. Just be upfront about the loans with the people and let them make their own choices
QFT
The best client is a repeat client because you just keep making money :beerchug:
Keens
06-05-2007, 10:02 PM
Get it! I am in Real Estate but more leaning towards Title Insurance part of it. Working on getting my Title Insurance License!
Good luck!:thumbsup:
I actually work for a software company that many title insurance companies use.
tinman
06-05-2007, 10:53 PM
Good luck!:thumbsup:
I actually work for a software company that many title insurance companies use.
Thanks man! Whats the name of your software company?
Keens
06-05-2007, 11:53 PM
Thanks man! Whats the name of your software company?
Property Insight - the applications are called Searcher and TitlePoint Xpress.
p.s. I'm a chick ;)
tinman
06-06-2007, 09:34 AM
Property Insight - the applications are called Searcher and TitlePoint Xpress.
p.s. I'm a chick ;)
Sweet. I've been through 3 BIG Title Companies in the past 6 years and the only software I ever like using is called "ATLAS". I wonder how your TitlePoint Xpress differs from the softwares I used. Probably the same thing, but of course different ways in working any software to get the job done!
cstrike
08-28-2007, 04:01 PM
im thinking about taking real estate appraisal courses. from what i hear its a pretty lucrative field to be in. appraisers assess the value of a property by using properties around it, also SQ footage and whatnot.
well, real estate agents are a dime a dozen. real estate finance is better, but as of right now, the entire housing market is down, so i'd wait a year or two.
PeterGibbons316
08-28-2007, 04:09 PM
well, real estate agents are a dime a dozen. real estate finance is better, but as of right now, the entire housing market is down, so i'd wait a year or two.
:iamwiths:
Unless it is something you are doing in addition to your main source of income, I'd hold off.
tinman
08-28-2007, 04:10 PM
Become a Loan Officer, money is there as far as I heard.
cstrike
08-28-2007, 04:26 PM
fuck
ic0nz
07-08-2009, 07:07 AM
I heard Real Estate is really hard.
aznstealthsnake
07-08-2009, 12:01 PM
holy shit..old thread
KillSwitchEngage
07-08-2009, 07:00 PM
where do you sign up to take the test?
mr2guysingh
07-08-2009, 07:19 PM
Lol.
FastRSX1964
07-08-2009, 07:21 PM
lol I wonder if he got into Real Esates.
mr2guysingh
07-08-2009, 07:23 PM
Two years old. How is the RE market these days? :rotfl::rotfl::rotfl::rotfl:
Rydah858
07-08-2009, 07:24 PM
it's awesome...everyone should get into real estate. can't lose.
FastRSX1964
07-08-2009, 07:32 PM
Actually, houses in the bay area are picking up again, due to low interest rate. And I don't like the sound of that.
Dotcom crash --> Unemployment --> Lower interest rate --> Business survived --> Housing boom due to low interest --> Housing crash due to failed mortgages --> Stock crash --> Unemployment --> Lower interest
Cycle continues.
The current RE sales due to lowered interest is not healthy, only if unemployment drops demand would be "real", then I'll buy a house.
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