career in real estate

[momz]

what are the pros and cons? I have a successful, productive career. But have grown bored with it. I am 40 now and have worked in the health care industry for 20 years. I'm trying to think of something else i might like to do, but still be profitable and rewarding.

 

[Disneys#1fan]

Don't do it!!!!!!!!!!!!

I have been in real estate since 2005 and if I had to do it over again.......I wouldn't! This business is so competitive and cut throat in my area. I would think long and hard before leaving a sucessful career to be a Realtor.

 

[ajk912]

I had a realtor friend who sold me our house (never again will I use a friend) and she complained about showing us houses in the evenings and weekends. I was like..Duh..you are a realtor..you WILL be working every evening and every weekend if you want to make a living. That's when people look at houses. Most people don't look at houses at 10am on Monday morning, because they have to be at work.

 

[lovepurple]

I would say a big con is being on-call basically 24-7 for your clients. And in this market you have to be. If they have trouble getting hold of you they will move on to an agent who is available. One pro is you are in charge of your own career. You will get out of it what you put into it. I have to say that I do miss regular paychecks that my prior career provided.

 

[katied]

DH works in real estate. You will work all weekends. You will need to plan around certain "office" meetings, etc., weekly that you need to be part of. Generally, there are broker tours during the week you need to be part of. Overall, it seems to be about a 7 day/week job, where you are always "on call" for your clients. You can make good money, but you need to put alot into it to start (both effort and money). Also, there seem to be a lot of politics and clicks at certain offices that you need to figure out how to navigate. You're an independant contractor - so no guaranteed pay, no benefits, etc. Plus, if you go on vacation, you need to pay someone to cover your stuff, and possibly lose out on a lot of money if you miss something big that comes up while you're out.

DH did love the work overall, and it was a good fit for his personality. But then we had to move for my job, and he decided it just wasn't worth it to start all over in a new market. So, he will now embark on a 2 yr or so career as a stay at home dad once the new baby comes, and we'll see what's in store for him career wise down the road.

 

[kmvand1]

I had a realtor friend who sold me our house (never again will I use a friend) and she complained about showing us houses in the evenings and weekends. I was like..Duh..you are a realtor..you WILL be working every evening and every weekend if you want to make a living. That's when people look at houses. Most people don't look at houses at 10am on Monday morning, because they have to be at work.

Yeah well, it works both ways. I have had my license since 2003, and will NEVER EVER work for a friend and her family AGAIN! After showing them houses only in the evening (sometimes up until 10 PM) and on weekends, they "decided" after 6 months or so of doing this, not to buy at that time. Well, didn't hear from her as much for about 7 or 8 months, then I came across her house listed in the MRIS by another realtor. Ends up, they had found a new developments closer to the house they were trying to sell and decided to put a contract on a new house, but were sooooo busy, they forgot to mention it to me, their "friend". Needless to say, we don't speak anymore. To the OP, it is so competitive now, I wouldn't even imagine taking it up at this time with the markets the way they are. The only people making any money are the brokers.

 

[leebee]

My sister got her license last August and has sold one house since then. I guess it all depends on what kind of office you can get into. She goes in every morning, 5 days a week, to help with computer stuff, paperwork, etc. She does showings, but not too many thus far, and sold one property in January. Granted, she (and her 2 daughters) are going through an ugly divorce so she has a lot to distract her, but from what I gather from her, I think it's a tough business to get started in if you don't have a LOT of enthusiasm, dedication, and hustle.

 

[Swan4Me]

DH's client and brother own a very successful agency in our area. I was toying with changing careers a few years ago , He basicallt told DH, it's a career for women who have a DH that can pay the bills and just wants some extra $$.
Unless you are 10 + years established, you wont make a lot of $$

 

[amcnj]

A pro can be you are in a way working for yourself more, though some people need/like the structured office atmosphere so it would be a con for them. Evaluate your money situation, and determine what you would need to get by, and check your area to see if that is doable. There is potential for good income, but also, the chance of lean times, especially with the current real estate market. Though I have heard it is picking up a little now. People I know who have been in this industry their whole lives say this is the worst they have ever seen it, and many have left the industry or had incomes sharply reduced.

 

[T. Lynn]

I was a Realtor and so glad I decided to get out.

Pros: you work for yourself (more or less but you will be affiliated with a firm and they will have expectations)

Cons: you will be in competition for agents who've been in the business for years and unless you got $$ for advertising, it's hard just coming in. I've shown houses LATE on weeknights, weekends and of course I'd always get the calls for showings right before I was leaving for vacations. Sellers can be unreasonable for their asking price and buyers are unreasonable with regards to expectations. They want practically a new house on a low end budget. Paperwork is constantly changing so you will need to be on top of meetings and training classes. Also keep in mind that you will be driving or meeting these people all over the place. You will also need to be driving around prospecting to find business. With the price of gas, please take that into consideration.

For me, it was the worse decision I ever made. I loved being a secretary there and should have just stuck with that. Otherwise, it was money thrown out the window.

 

[mydisneyobsession]

People have done a great job representing the pitfalls of being in the real estate business, and that's important information to know if you're considering a career in real estate.

There ARE people who are successful in real estate, and new agents break into the business all the time. It's hard work, but it can certainly be done.

You should take the time to read "The Millionaire Real Estate Agent" by Gary Keller to get an idea of what a successful career would look like. It's a phenomenal book in that it lays out a blueprint to success. If you follow it and work at it consistently, you can make it. He also has a book called "Shift" that gives Realtors techniques for saying ahead of a shifting market. That could be important if you're in a market that is slow in recovering.

Either way, don't even consider it unless you have a pretty healthy "emergency fund." It will take a while to get traction and you need to have some reserves to get you through.

 

[Natalie's Mommy]

Don't do it!!!!!!!!!!!!

I have been in real estate since 2005 and if I had to do it over again.......I wouldn't! This business is so competitive and cut throat in my area. I would think long and hard before leaving a sucessful career to be a Realtor.

this is exactly why i got out. i'm pretty cut throat myself but its hard to be in that mode 24/7 and still feel like a human sometimes

DH's client and brother own a very successful agency in our area. I was toying with changing careers a few years ago , He basicallt told DH, it's a career for women who have a DH that can pay the bills and just wants some extra $$.
Unless you are 10 + years established, you wont make a lot of $$

even tough this is kinda sexist it's also kinda true. i was in the business for 4 years and my last year was the only year i was in the green. every other year i broke even.

 

[DisneyBill]

With a two year old thread, the OP probably has been in and out of the business by now.

 

[Natalie's Mommy]

With a two year old thread, the OP probably has been in and out of the business by now.

totally didn't notice that, but i agree!