Anybody here have their real estate license?

[EllenFrasier]

I am a crossroads in life right now. Ready for something new. When I was very young, like about 19, I wanted to become a realtor. I went to an agency that was hiring and the man told me that I was too young. Well, I am well past 19 now! I thought I might give it another go.
I live in New York state. What's involved in getting a license to sell real estate? Is the housing market in such a slump that it is pointless or are things rebounding? Around here they keep building, so I am assuming they have someone to buy those houses. Is there a school for realtors? Can it be done via computer classes?

 

[erincon23]

You'd get some responses,I bet, if you ask this question on the Community Board rather than the budget board.

 

[mjhd]

I've previously been licensed. I did have to complete some coursework so I could pass the state test. I want to say it was a week long class. The business is tough. Even in a good economy, it was difficult for me. I would first make sure this is what you want to do. Are you outgoing? Do you know a LOT of people? Can you be self-motivated? Are you prepared to not have a regular paycheck? These are the first questions that I wish I would have answered honestly before I dumped a bunch of money into it. Best of luck!

 

[NeverlandClub23]

My fiance has been a realtor for 10 years. Since the real estate bubble burst, MANY realtors have jumped out of the real estate business. I don't know what's involved to get your license, but a tip I would give you if this is something you really want to do is to diversify yourself as much as possible. If we had to rely on my fiance's closings we would barely be able to make ends meet with my income. Also, you have to be able to manage your finances with a roller coaster income. The months that are really good have to be saved and budgeted for the months that can/could be really bad. I would suggest a large emergency fund if you're going to be the main "breadwinner". And we live in an area that has high tourism and a large military community so we weren't hit as bad by the "recession".

My fiance is heavily involved in property management and BPO's (broker price opinions). These both take up A LOT of time, but provide a steadier income. Most of his sales of homes come from word of mouth or from someone he manages property for. In real estate it's hard to have "fixed" hours if you're planning on making a decent living with it. He's essentially available 24/7. He's very outgoing and I help him with marketing as much as possible. He's "attached" with a well-known real estate company, which may be easier than just starting out on your own. He pays a monthly fee for their name (and a higher fee if he wants an actual permanent office there) and they get a split of his commission.

Just a couple of things I have learned. Hope these help!

 

[The_Princess's_Mommy]

NJ Realtor here!

I started RE young as well - I was 24, which in RE world is a baby! I made the career switch because I wanted to settle into a career that had "flexibility" for when my children were born.

Well, I can say, that RE is most definitely NOT flexible. Yes, you can make your own hours, but you have to be available when your buyers or sellers need you. If not, they will move on to the next agent. In order to be a successful agent, you have to be available all week.

There are many ups and downs in RE, and a lot of money to be made...and also a lot of disappointment too. I am an office mentor to many of the new agents coming in, and most of them quit before 6 months.

When I went to RE school, my teacher said it will take about 2 years to start making decent income. He was right.

Now I'm 8ish years in, and I have a successful career. Not without sacrifice, though, and much hard work.

This business is not for part-timers. You have to have thick skin, self starter (REALLY a self starter - nothing is handed to you...nothing!), have some income other than yours (like a hubby or something), and be prepared to pay your dues in the beginning. Be prepared to work, work, work, but make no money.

Having said all that, I love my job and will always stay in RE. I love working with people, making them happy, and managing my own destiny.

Hope this give a better vision of RE...both good and bad.

Oh..and if you know anyone needing a realtor in NJ, send them my way

 

[MickeyManiac]

NJ Realtor here!

I started RE young as well - I was 24, which in RE world is a baby! I made the career switch because I wanted to settle into a career that had "flexibility" for when my children were born.

Well, I can say, that RE is most definitely NOT flexible. Yes, you can make your own hours, but you have to be available when your buyers or sellers need you. If not, they will move on to the next agent. In order to be a successful agent, you have to be available all week.

There are many ups and downs in RE, and a lot of money to be made...and also a lot of disappointment too. I am an office mentor to many of the new agents coming in, and most of them quit before 6 months.

When I went to RE school, my teacher said it will take about 2 years to start making decent income. He was right.

Now I'm 8ish years in, and I have a successful career. Not without sacrifice, though, and much hard work.

This business is not for part-timers. You have to have thick skin, self starter (REALLY a self starter - nothing is handed to you...nothing!), have some income other than yours (like a hubby or something), and be prepared to pay your dues in the beginning. Be prepared to work, work, work, but make no money.

Having said all that, I love my job and will always stay in RE. I love working with people, making them happy, and managing my own destiny.

Hope this give a better vision of RE...both good and bad.

Oh..and if you know anyone needing a realtor in NJ, send them my way

I only lasted about 18 months in RE. I thought it was something I could do on the side and if eventually quit my day job. As the previous poster said it's not flexible and you have to put in A LOT of hours. The hardest part is you may or may not be paid for those hours. It all depends on closing that sale.

I have often joked that it's the most expensive job I've ever had. There were always fees to be paid plus lock boxes to buy, gas and wear and tear on my car, advertising, etc.

I enjoyed showing houses but I just could not devote the time and attention that that job demands.

 

[MAGGIED]

Hi... I am New York State realtor... I have been in the business about 12 years. Been through the high times and the low. To get lisc. isn't difficult. You must attend a class and then take the exam. You are then required to have 22.5 hours of continuing education every two years. You will also need a broker to "hold your lisc;"... you are an independent contractor so you really don't work for anyone but yourself... the biggest thing I could say is that while you have a lot of free time your clients expect that you are there for them when they want you. My phone rings from 7 am to 11 pm 7 days a week... while on vacation, while at the grocery store, while soaking in the tub.... the expenses can be high when your starting. I have a lot of referrals and repeat business now from past clients and I do a lot of relocation work for the company... but that wasn't always the case.. I had to put my time in. I am lucky that my husband makes a good salary because I wouldn't want to support a family on mine... it fluctuates to much. And I do well!!! Feel free to PM me if you have any specific questions... Where do you live in NY?

 

[disneyjunkie]

I got my license a few months ago. I completed my classes with NYRI~ 20 classes,the school exam, then the state exam.

I work part time with a major player in Brooklyn. Our office is in the Fort Green, Clinton Hill area. People are flocking to that area (as well as Bedford-Stuyvesant,Williamsburg and Dumbo)from the city and Long Island. Most of us only work part time (most of us are teachers).

What part of New York are in?

 

[seashoreCM]

Most states require that you get a real estate salesman's license first.

Then you must work for a brokerage for X hours or X months depending on the state (no requirement to succeed in closing any sales or earn any commissions) before you can get a broker's license.

With a broker's license you can open your own office.

Even if your state allows you to go directly for a broker's license, chances are you won't get anywhere with it on your own until you have gained some experience by working for someone else.

 

[Alexa Jones]

I have taken my real estate license online from GREL but there is an option of school too due to my busy schedule I chose online, my license course has provided me videos, scripts, and multiple free books to learn, practice and grow.