I am thinking of starting a career in real estate. I know the housing market is in a state of decline and credit standards are becoming tight. As a result, commissions are going to take a dive for agents. I know that getting a good portfolio of listings will help, but marketing them will be expensive. I have a good connection with media sales and marketing. I am in vehicle sales now and just want to move to a more profitable field with more autonomy and a more professional environment. I have the time, dedication, and a very handy wife with a good eye for staging homes and design. I think that starting with a larger company will be beneficial, but are more experienced agents usually forthcoming with guidance and advice for rookies. I consider my self a good looking, charming young man with a silver tongue. Bottom line, is it a smart move to go into real estate (in Memphis, TN) right now if I have to make at least $40k/year?
There is always the guy that really makes out well. If you turn out to be one of the other 99, you will have some trying times in real estate. The first big difference is that the customer is not going to come to you like in vehicle sales. The other get use to it thing is that one never knows when one is going to get paid. You will find that the vast majority of agents have someone paying their bills. (remember this, it will help you) In real estate payday is defined as an act of God. Every agent comes to the point where they have to commit to it or get out. OH, dont forget the almost universal misunderstanding that real estate is easy work and big money. Let me end by saying: its a fun way to make money, I absolutely love it!
Who told you these lies about Detroit? What you are saying about Detroit is NOT TRUE. First, Detroit and the Metropolitan Detroit Area is shrinking. Detroit has lost over 50,000 residents in the last seven years and the metropolitan area is in decline. Second, the State of Michigan has the worst economy in the United States. There are NO JOBS AVAILABLE. Residents in Michigan are moving out of state to find better jobs and oppotunity. Finally, The only transportation in Detroit are Gas Gusseling cars you drive around that will eat up your cash. Detroit has a bus system known as SMART but many communities are eliminating the system Detroit has not on ground train system other than the People Mover and there are no trollies. If you want to sell real estate housing in the Midwest, I suggest you try Chicago. The Chicago Metropolitan Area is growing, has excellent mass transportation, a good economy, and could be the host of the 2016 summer olympic games.
First, it takes as much work to sell a house as it does to sell a $5 million strip mall. Second, a silver tongue is a liability. A successful agent is one whom clients trust. No a fast talker. Everyone has a bull detector, some more accurate than others. If you're hoping to make commissions from those with poor detectors, you won't be a good salesman in the long run. Third, you'll be successful if you're doing what you love. The best agents are those who love their job, not those trying to make commissions. Find a field that you really enjoy rather than thinking about the money first.
I became a real estate agent 3 months ago in Canada, British Columbia. United states is on the Decline. I have been doing well finally after 3 months. Made a 3 million dollar commercial sale, but my first sale was a mobile home for 100 000$. A crappy mobile home for 100 000$ do the math and relocate my friend. Things are so hot up here its amazing. Vancouver, Okanagan, Island. Leave the states and start business up here. Im only 19 and even I can make a living at it. More than a decent one.
I have been in real estate home sales for almost 30 years. I started in a boom time and learned nothing in the beginning- no one had time to teach me. When things slowed down I actually learned much more about the business. No matter what the market is there are people that need to sell because of a divorce, death, job loss, or job transfer. There are investors and people that have great income that want or need to buy. Your job is to find these people and put them together. I don't know what you will make because real estate is very local and very much self driven, but I love this job. (I am an old geezer and only sleep with my wife. So much for the first guy's theory)
