Advice on realtor, as a career...

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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snyder66
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Joined: Tue Feb 02, 2010 12:46 pm

Advice on realtor, as a career...

Post by snyder66 »

Just looking for some advice from any realtors on this forum. I'm in a bit of a career funk and was considering getting my license. I imagine that it may take a while to earn clients, money, etc.
tibbitts
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Joined: Tue Feb 27, 2007 6:50 pm

Re: Advice on realtor, as a career...

Post by tibbitts »

Not a realtor, but... probably 98% of realtors fail to earn a living. Some of the rest are very successful, but most of them would be equally successful selling any other product.
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White Coat Investor
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Re: Advice on realtor, as a career...

Post by White Coat Investor »

If I were going to be a realtor professionally, I would combine it with a second career in real estate investing.

Also, sign a fiduciary agreement with your buying clients. I was impressed with a realtor who did that and I'm much more confident he didn't leak information in the negotiation process.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
Billionaire
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Re: Advice on realtor, as a career...

Post by Billionaire »

I sold new construction from 1985 to about 1989. The money started rolling in and my life changed overnight. My market was hot and I was associated with a popular builder. I was unhappy in my previous career and just wanted to try something new. The beginning of the end started in October 1987 when the stock market fell 500 points in one day. I eventually went into the computer programming field and continue to this day.
As you probably already know, be prepared to be commissioned only, weekends, etc. It would be nice if you have a spouse who had a steady income. I couldn't do it now. Although I learned a lot in real estate, I would have been better off going into computers earlier.
rjbraun
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Joined: Sun Sep 09, 2012 8:22 pm

Re: Advice on realtor, as a career...

Post by rjbraun »

I'm not a real estate broker, but a friend is. One thing she recently pointed out that she is not very geographically-mobile. After spending the last decade building her business, contacts, etc. it wouldn't be so easy for her to pick up and move to a different (non-local) place. Seemingly a pretty obvious point, though I think when she got in the business she hadn't fully recognized this aspect. Not saying that she would necessarily have made a different decision, but it's just something to bear in mind.
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