I am really considering taking an online real estate program for the state of GA. What program do you suggest? Also, what pros and cons exist with being an agent?
Find out if your state requires all agents to immediately become brokers. The pros: work hard, you'll earn a living. Lie, cheat and steal, and you'll make more money--and worry constantly about getting caught. It's sales work. If you don't like sales, you won't like real estate. Rarely do clients come to you: you have to find them.
The answer is in the book of real estate. I don't think that there is a real estate agent who will tell you exact answer. Real Estate is a fun job - but of course it is a job and it needed to be cultivated on before you get the result. But the review-book on real estate will ask you if this is really what you wanted to do - meaning, that there's something to think about. Right?
The pro's - regardless of what your broker tell's you, you are your own boss. You set your hours, you set your appointments, and you decide how much or little you will work. The con's - you are your own boss. What this means is that YOU (not the broker) are ultimately responsible for making the sale, and the money. Additionally, most brokers ask for a very hefty portion of your commission check. If you are not selling houses, you are NOT making money. Additionally, one of the 'dirty little secrets' of the real estate business is that you have to be in the business for about two to three years before you make any money. Most experienced home sellers WILL NOT use an in-experinced agent. So your market for the first two years or so are only first time home buyers. Do you think most first time home owners can afford to buy the types of homes that will make you a large commission check? Think again. These folks can only afford 'starter homes' that range from $60 - 100K at the most. So at 3.5 or 3 percent (cause you will have to split the 6 - 7 percent commission with the selling agent) and then giving 50 percent to your broker, how much do you have left ? Not much. I was an agent for five months and averaged 1 sale a month which everyone said was fantastic for a new agent. Guess how much money I cleared? $5,000 dollars, or less than a thousand a month for working my but off. When I figured how many hours I spent - I was working for probablly minimum wage. And after my last client (who I worked with for about three months - and I did sell the house) almost 'balked' AFTER she had already closed escrow, and only closed the sale under threat of a lawsuit from the owner, I walked in after a very, very, long day and told my wife - Sorry, I'm done - and I went back into the IT field where I made more than $5000 in one month. They will not teach ANY of this to you in a real estate school.
