I am thinking about becoming a real estate agent but I do not know alot about it and I haven't been able to find much on it. What are the risks and costs of becoming an agent? I am young and I would want to do this full time. What is the normal amount of sales and income a beginner would make? What all do agents do? What are my chances of failure? How long does it take to become a agent? How long does it take to build up a clientele? Is it a demanding stressfull job? Please just help me as much as you can I got so many questions I didn't even post all of them and thanks
It isn't necessary to take aid of a truly property agent to unload a estate. You must first get ready the estate on the market and make it appear pleasant. Then you pick the rate of the estate effortlessly. Though you don’t take aid of an agent, it is going to be higher to take the aid of a truly property legal professional. With the aid of an legal professional, you must take steps to marketplace the dwelling to be able to promote it off quickly. Once you get a purchaser, you'll need to begin negotiating for an present. You will need to take aspect in dwelling inspections and purchaser value determinations. Once a majority of these steps are accomplished, the deal will opt for last.
I will tell you what I tell anyone looking into RE as a career. The majority of people that become real estate agents leave the field within 6 months without making a sale. The vast majority leave within 2 years. And 20% of the agents make 80% of the money - meaning the top producers do most of the business and the rest pick up the remainder of the business. RE is unique as you have to pay to do it and you are an independant contractor. You have to pay something to your brokerage, desk fees, advertising, E&O fees, franchise fees, copy fees, postage, whatever.... there are tons of potential expenses to each agent in the office. As a independant contractor, RE is also unique as the risk to your broker (i.e. your employer) is fairly low, so most brokerages are going to want to have you. They do not have to pay you unless you produce! To your specific questions: The risk is that you go through all the hoops to become and agent, then find you cannot do what you need to do to be successful and you did all that for nothing. There are no average sale or income. You get out what you put in. Chances of failure are high. How long it takes depends on your state's licensing requirements. What we do is put transactions together and solve problems. It can be demanding and stressful, as we do not have set hours, there is no one making you accountable for your actions or lack there of, and clients can be tough! You get clients by working your sphere of influence and find ways to meet people. Good luck in whatever you decide.
There are too many questions to answer on this forum. The first requirement is that you obtain a license from the state in which you reside or would want to sell real estate. You would have to do a little leg work yourself by checking with several local real estate offices, both national chains and local mom and pop offices about the requirements and the income for your local area. Local customs would dictate the fees charged by each real estate office. The amount of compensation is different in California as compared to middle America. The normal real estate commission is approximately 6%, however, if you are getting 6% of $350,000 at $21,000 as oppose to 6% of $85,000 at $5,100. Your marketing plan would be the document that would dictate the amount of time it would take to obtain clients and how fast this would happen. The art of selling real estate as well as any other career position is only as stressful as you would make it. If you are enjoying what you are doing then it is not a job, but a pleasure. If it is a job then it would be stressful. I hope this has been of some benefit to you, good luck. FIGHT ON
You better go for some reliable sources about the matter like good books, research because there's nothing better than a good knowledge in every kind of profession..also there are short courses fotbeing a real estate agent that are being offered right now..
