I'm interested in pursuing a career in real estate, but I'm worried about the possible lack of opportunities available in this career field during this economic recession.Are my fears justifiable, or do I have nothing to worry about?Also, what other real estate related careers are out there for someone who has a real estate license?
Being a real estate agent requires constant relationship building and networking and the traditional brokerage format is not for everyone. In any size office, competition is fierce among the agents in the office themselves and from competing firms. You have to have the wherewith all and tuff skin to survive your first couple of years. Besides the cursory training provided you are pretty much left to your own accord. It is the survival of the fittest at the most basic level. Can it be lucrative? Yes it can be but at what cost? Health, family and friends. And the expense! Be prepared to shell out at least a $1000 to $2000 to get started in Realtor fees, MLS fees, lock boxes, business cards, signs, E/O insurance, extra car insurance if you don't have the 100/300/100 limits to name a few. I know I am being discouraging but you have to be prepared for those realities. You have to have some form of additional income before even considering going full time, especially if you plan to work for a traditional brokerage. There are other alternatives like builders and property management firms. Most discourage part timers. If you want to start part time in the business, then email me and I will send you some information on my firm which has a different focus and go beyond the full service brokerage market.
A very important fact you must considered is majority of real estate agents are independent contracts not salary employees Therefore until you find a buyer, seller or renter you do not get paid; mean while you have accounts payable: MLS fees; your broker may charge fees of insurance etc; need a cell phone with lots of minutes; need a car to get around; need to pay marketing to get your name out, etc while no monies coming in into you land a sale in some manner or form also any monies you earned is taxable under a 1099, so you will owe state and federal taxes on the monies versus a salary employee where the taxes are taken out before you get your pay check
