I'm taking classes to have my lisence for Real Estate Agent, but I heard the market is too slow, and some internet websites are very popular, eliminating the middle guys...what you think?
I think being a mortgage loan consultant is profitable too. Realestate depends on where you are, CA right now has homes values down due to the demand being lower than the supply.
I'm also taking courses for my license, and I don't expect the market to stay slow for very long. Every house needs an owner!
Agents that answer this as a YES or NO crack me up. Real Estate is LOCAL. Sure much of the country is Slow, but there are definitely parts that are NOT. Such as Austin, TX. It also cracks me up how narrow minded naive many agents are about the future of the industry. Read my blog post from last week about a panel discussion on the FUTURE of REAL ESTATE. For now, REALTORs are still very much in the mix, but there are many companies trying to cut out the full service Realtor. However, these won't be successful until their level of service steps up. From mine, other others experience, many of these companies have the most incompetent agents working for them! Overall, what do I think? I think the future of Real Estate Agents is going to be about the best presentation exposure of listings and tremendous knowledge of contracts, negotiations, and market trends and NOT the gate keeper of information namely exclusivity to MLS.
The market is indeed VERY SLOW! If you are already working in another field, DON'T GIVE UP YOUR DAY JOB! If I were you, I would continue with the classes, but I would take my time getting licensed if you can. Find out how long you may wait before becoming licensed after you finish the course. This is important because once you have your license you will have MANY things to pay for and it is likely you will have little if any money coming in from your career. There is a license fee (per year), there are mandatory continuing education classes which you have to pay for; you pay for membership in the MLS (Multiple Listing Service); and you will probably have to contribute to your employer's Errors and Omissions Insurance for the Agency. That's not including membership in your regional real estate association...and there could be other fees for membership and insurance I've left out, depending on where you will be licensed. Commission rates are steadily going down and your classes should have taught you that those 'big' percentages are chopped to pieces by the broker's cut, advertising, etc. Plus, you are on your own with regard to paying taxes, both Federal and State (if your state has an income tax), social security (you pay the whole enchilada when you file your 1099 -- when you work for a salary or hourly pay and receive a 1040 tax statement, your employer pays 1/2 of some of your obligations). Please consider all of this before you sign on. I could go on and on about real estate as a career, but I think I've given you plenty here...
good for you...you will now be ready when the market turns around....and you should make $$$$. yes the entire market is currently recessed. it is not area specific...and there are many foreclosures happening daily. internet taking biz from the market? no, in fact we recommend staying away from those scammers. local banks and local financial institutions are the best. good luck and congratulations
