Question 1) How long does it take to get profitable? I hear the generic numbers that say 1year but i wanted to hear from people who have done it. For instance, if i do this i would plan to hit the ground running and would be working full time at it, would constantly be networking for customers at auctions, seminars, and so forth, and i would be looking to learn as much as i can in as little time as possible. That in mind, would it still take a year?
Hey. I am 16 years old, almost 17, and i have been interested in real estate investing for quite a while now. Because such investments are pretty tricky as a minor i have been looking to become a realtor once i graduate high school. I already know about what is involved in getting the license so i was just looking for advise on the occupation itself.
1. If you become an assistant or work as part of a team under a successful agent, you can probably be profitable sooner, but you won't make as much per deal. Once I was out of the new home sales arena and started doing general brokerage, it took me about 2 months to get my first client. However, I had been in the business for a long time at that point, so it wasn't really a big leap.
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2. There are always more agents than homes to sell. It's a competitive industry.
Your questions are pretty market specific, and I have no idea what the market is like in Oregon.
Becoming a Realtor
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You've asked a lot of great questions, and I'm sure there are a lot of really smart people on here that are going to cause this thread to explode. I'll just say up front, there are a lot of the questions you've asked that have no black white answers. How much you can expect to make, what the market is like for an agent, etc. is all determined by your particular market. Dallas/Ft Worth is super hot right now. You don't have to be a very good agent to sell homes in a good neighborhood right now. However, you have to be a super agent to get the listing in the first place, because there is so little inventory. Here in Dallas, realtors are having a tough time, because there aren't enough homes for sale.
Question 3) After i have been established, what kind of income could i reasonably expect from the career? I ask because, as i said, this would be my gateway to real estate investing and a higher income would aid in my investments. I hear that the real aces of a brokerage can make upwards of 200k per year, but what would be logical to assume after getting myself initially established?I recommend you pick up "The Millionaire Real Estate Agent" and "The Millionaire Real Estate Investor" both by Gary Keller to help yourself understand how these professions work. As an REA, you are in business for yourself, with your broker. You aren't an employee and your expectations of annual incomehas a Air Max Thea Blue Lagoon direct correlation to your own ability and willingness towork. Unless you take a desk job or have the rare arrangement of being an employee agent, you are not an employee, you are an independent contractor as a licensed agent.
A lot of folks think the key to being an agent isbeing able to market and sell a home. Well, that's part of it. However, I have a couple of agent friends who have never listed a home. They are Buyer's Agents only. They have to be able to connect with buyers and convince them they are the agent who can help them find their dream home. On the other end, the Seller's Agent has to make the same connection with property owners and convince them he/she is the agent who can get them the most money, in the least amount of time, for their home. Your job will be to learn to make those connections and build those relationships quickly. If you can Nike Air Max For Ladies 2015
the number of houses she does. So it makes a big difference based on your skills and goal.
Your youth will be both an asset and a hurdle. A conventional seller is going to want to list with someone who has a track record for success. They'll want to know you are a tough negotiator and can hold their hand through the process. Same goes for buyers. You might have more luck with investors because they won't need the hand holding and will likely just appreciate that you work hard and find them deals.
You've got a great plan, and it sounds like you have the passion energy to execute it.
3. I think the average agent makes about 35k/year according to some salary calculators I've seen out there. I think this number must be a bit skewed and must include stay at home moms, part time agents and others who are not especially invested in their business. Most of the agents I know are probably what would be considered high earners. Some are in the 200 500k, but they are typically the very top producers. A good friend of mine is one of the top realtors and the next person below her sells half Air Max Thea For Mens
Some of your questions are market specific and some are a matter of self determination.
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