I know some real estate agents around, but, I don't have the first clue in what to do. I need some questions answered, like what are the first steps in becoming an agent? What kind of classes do i need to take? How many hours of classes? Mature answers only please.
First, this is probably a terrible time to go into real estate. The market is very weak, and the economy is not doing well. This will make it difficult for you to make a living. However, if you do want to go into real estate, the first step is to get your license. For that, you have to take a course and pass an exam. There are usually a number of courses advertised in your local paper, but if you want to make sure you're getting a good program, talk to someone at the Board of Realtors in your local area. After you pass the exam, the next step is for you to interview a series of real estate companies, to see if you want to work with them. Since it's all paid on commission, you can pretty much choose whichever one you want.
Type in your state's licensing board on the Internet search query. It will spell out exactly what is required in your state.
OK! yes, you need to take real estate courses and pass the tests to get your license to sell RE. There are numerous 'hidden' fees once you go to work for a RE company. I would suggest you talk to a branch manager of a well known RE company. Ask lots of relevant questions. P.S. Not a real good time to get into RE, unless you are willing to ride out the sub-prime mortgage and foreclosure mess.
Tonya, are you financially, emotionally and intellecturally ready to become a business owner? Have you prepared to own your own business? Do you have capital (money saved)? Can you begin this new business without having another source of income? Is the timing right for you to start your own business? If you answer yes, then here's the scoop; You take whatever classes your state requires and probably have to pass a state exam. If you pass, you are licensed, but you have to find a Broker to park your license with. You can not operate as an individual (that requires a Brokers license). Once you have a broker, part of this is to negotiate the terms of your business relationship with the broker. Most will take trainee's such as yourself, but you have no bargaining power. Most places the split will be 45/55 until you reach a certain quota, or dollar volume. You will have to pay for all your advertising, office supplies, and any education required, plus you'll have personal expenses, such as a car, insurance to carry people in your car, other business expenses, E&O Insurance... Then you have to pay full bore on your taxes and health insurance, and more...have money to live on day to day. In today's market you can expect it to take up to 6 months or more before you make a paycheck. And remember you don't get the whole 6%! If you're lucky you'll get 45% of 3%, then have expenses for marketing that property if it's your listing. You're somewhat better off with buyers, except for car/gas expenses. Now don't get me wrong, I am not trying to discourage you. If anything, I want you to have all the facts up front before you take your first class. You need to know before you decide. And I'm telling you straight. Good Luck!
