Real Estate Career Question - Repost from NWR

Hello,

I don't post here often but I have a question for licensed real estate agents...

I graduated from college two years ago and am currently working as a Litigation Legal Assistant for the past year. I accepted the offer with the ambitions to go to law school and thought firm life before law school would give me a greater outlook in the path in which my career should go. Fast forward a year! I ABSOLUTELY HATE FIRM LIFE and decided I may not want to go to law school!

I have recently discoverd my passion for Real Estate and I am higly considering changing fields. Now my question is, how do I 'break' into the business. What qualifications do I need? What kind of person is prosperous in this field? Where can I go to take the required 45 hour course before registering for the licensing exam?

Really any information you could give me would be a great help!!!

TIA

Re: Real Estate Career Question - Repost from NWR

I just received a booklet from Nassau Community College for adult education that is offering Real Estate Classes that is held on a couple of Saturdays in either October or December ( I think). Once you get your real estate license you can go to almost any agency and get a job. Good Luck! Hope this info helped a little.

Re: Real Estate Career Question - Repost from NWR

if you search on the internet there are a few places that offer the courses...... I went to LISORE, which is in levittown, lisore.com ...... with them you can take classes durring the day, at night, on the weekends, they are continuously running the classes there. you take your 45hour course, which is around $250... pass the school exam, then take the state exam which is like $50 offered two days a week in the morning- franklin square, hauppauge, nyc.... wait for the passed exam slip in the mail, and have a company to work for

Re: Real Estate Career Question - Repost from NWR

also you dont register for the licensing exam, you just need to show up that day, and early

Re: Real Estate Career Question - Repost from NWR

Thank you so much... I am really considering it because it seems like such a great career move!

Re: Real Estate Career Question - Repost from NWR

So what is the next step after you are licensed? You need to get a broker to hire you?

In Real Estate, the brokers pay their agents commission or are they ever salaried?

Could one work part-time as a real estate agent? i.e. nights and weekends

Re: Real Estate Career Question - Repost from NWR

Good ?s, I'm curious too. How's the pay?

Re: Real Estate Career Question - Repost from NWR

Yes, you can definitely work p/t. Many people do. After you pass the class and state test, then you apply for your license. Once you have that, then you find a broker to hire you. Most places are always looking for new agents. You need to find the place that is right for you. Most places work on commission, not salary. Say you sell a house with 5% commission, you might get 2% and your broker might get 3%. HTH

Re: Real Estate Career Question - Repost from NWR

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Posted by riniko

So what is the next step after you are licensed? You need to get a broker to hire you?

In Real Estate, the brokers pay their agents commission or are they ever salaried?

Could one work part-time as a real estate agent? i.e. nights and weekends

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Good Questions... THANKS! I never thought about all of that

Re: Real Estate Career Question - Repost from NWR

Just wanted to add that the 2% you get would only be if its your exclusive listing. Otherwise that 2% gets split with 'Other' RE agencies, agents etc. At the end you could get 2K out of the sell.

I see it all the time with one of my closests friends. She is crazy hectic all the time driving here and there showing homes,getting her hopes up, working like crazy to sell a home.

In the end 'if' she sells the house after all her running around the most Ive ever seen her earn is $2,500 on a house because her earnings are split with everyone else.

I think its ridiculous all the gasoline, car mileage, time, cell phone calling etc etc to finally sell the one home to come home with anything from 1,500 to $2,500. sometimes she only manages to sell one home a month!

She works for Coldwell-Banker. And its like that with all her co-workers.

RE Agent is something I would so not try. And can you do it on weekends only? I seriously doubt it I see how much time she devouts to this business so she can sell ONE home and I see the same thing with her co-workers, So no if you just want to do it on weekends or on your spare time then I dont think this is for you.

It seems like everyone wants to be a RE Agent and considering the exam isnt that hard well is easy to get a lic. Geez I remmember when she went to take the exam there were like 400 people there to take it! Imagine!!! 400 people and most of them passed the exam. That's 400 people!! selling homes, taking profits away from you etc etc. Its just too much and now with FOXTONS just charging 2% to sell your home well how much can you stand to make? and how much time and energy etc do you have to use to actually sell a home?

To me this is just as crazy as being a wedding planner (with all the newly wed girls thinking they can be wedding planners) geez see how many pop up everywhere? too much competition in my mind. Not that competition isnt good but when a market becomes saturated like that just how much can you actually earn?

Anyway, thats how I feel about it and thats the conclusions Ive come to. I may be wrong but thats how I see it.

Best of luck!

Re: Real Estate Career Question - Repost from NWR

Glenda, Thanks for the advice!

Re: Real Estate Career Question - Repost from NWR

just like to input.....

most companies are commision only-

and for a newbie you will probably be splitting comission 50% with your broker company, as you start selling/listing more you can negotiate with the broker.....

depending on the listing you might be looking at 1-3% selling commision, or 1-4% listing broker commision on which half would go to your broker.......each broker is different....

as for cell phone/gas etc......certain things you can claim as TAX deductions, as you are considered an independant contractor.

Re: Real Estate Career Question - Repost from NWR

True about being a newbie and having to split more in the beginning.

The tax deductions..... well dont forget its not like all of if can be deducted it all depends on what tax bracket you are in,etc. Tax deductions are all good, but you still need to make a living and a steady one in my opinion.

Its still not worth all the running around and crossing fingers and holding your breath that most of these RE Agents go thru every day.

However, if its really want you want to do then go for it. Its just not for me.:)