Careers Becoming A Real Estate Agent

I f you are considering a          earn big money as a Realtor. You   career as a Real Estate         have to be smart, tough, good      Agent, there are some           with math and have a knack for     things you should know and think      understanding complicated          about before taking the plunge.       paperwork. You also have to have   There is a common misconception       startup money and plenty of        that becoming a licensed Real         patience .                         Estate Agent is like being given                                         the keys to the U.S. Mint.            An entire closet industry has      Nothing could be further from the     grown up around preparing people   truth. You can earn big, but it’s     to become Real Estate Agents.      hard work and there are lots of       Those who take college courses     expenses and fees along the way.      for the certificate needed to get                                        a shot at the Agent Test are       Let’s begin with your motivation      shocked to find that what they     and qualifications for becoming       have learned is not enough.        an agent. If you want to make         Almost all of these courses are    money, it’s there to be made. If      geared to what happens after you   you’re looking for a way to dig       become an agent and do not         yourself out of a financial hole      provide the basics needed to pass  in a hurry, this isn’t it. The        the test. Instead, you’re forced   big payday will be a long way off     to spend another two to four       and you shouldn’t expect any          hundred dollars for a brain slam   earnings whatsoever for three to      session designed to help you pass  six months. Oh, yea, and you have     the Agent Test. There may also be  to be a terrific Salesperson! If      some additional seminars that you  you are not a natural born            will need to attend and pay for    Seller, decent conversationalist      in order to qualify for your       and self-starter who makes Donald     license.                           Trump look lazy; you will not                                            Once you manage to take and pass      still doesn’t guarantee you good   the Agent Test, there is a            leads. It just means you have an   completely new challenge. You         organization backing you that      have to find an honest Real           offers a better chance to earn     Estate Broker willing to take on      then Jerry’s Happy Home Real       a newbie. Here is where it gets       Estate Office down on the corner   tricky. Unless you have a large       of Main and Used Car Lots Avenue.  cache of moderately wealthy                                              friends with great credit who are                                        ready to buy or sell their homes,     Even the best Real Estate Offices  you are going to have to spend a      have a pecking order and exist on  lot of money to get started in a      a currency of THIS FOR THAT. If    meaningful way. And I’m not just      you want decent leads, you are     talking about business cards, car     going to have to put in some       signs, a website and cell phone       phone, desk and office time.       minutes.                              You’ll be expected to cover for                                          other Agents who are too busy for  Brokers do not make money by          their own Open Houses. The worst   passing good leads to                 part will be driving around your   inexperienced agents. If you sign     share of people who just like      up with a ‘bargain Broker’ and        looking at pretty houses, cannot   cannot easily generate your own       seem to make up their minds about  leads, expect to starve. They are     anything and probably have no      there to be served, no to serve.      intention of buying from you       The alternative is spending           anyway. In short, any Broker       several thousand dollars to sign      worth their salt will try and      up with a big name franchise.         squeeze as much money, time and    These operations are backed by        effort out of new Agents as they   nationwide advertising and a          can. The more experienced and      great brand name. However, this       successful people know better or   go on to be Brokers. You have to      periods of time just in case the   learn quickly and focus on the        tenants bug out of their lease.    money, not being the most popular     Most Brokers add two to six weeks  person in the office.                 on to that hold before they                                              release your money. Whether any    The worst mistake new Agents make     of this is legal or not doesn’t    is getting involved with              seem to matter. It’s just the way  Apartment Rental or Time Share        things are done. When rental       Brokers. Newbies often do this        agents finally do get paid, it     because the realty offices that       always seems to be less then       handle these types of properties      expected. That’s because your      paint a pretty picture of easy        beloved Broker probably forgot to  commissions and big paydays,          explain the extra fees charged     without all the startup money.        for office space, phone use,       Many provide new Agents with a        website and email sharing, lead    nice desk; some discount business     generation and advertising.        cards the equal opportunity to                                           earn and the promise of big           The upside of being a Real Estate  bucks. The only problem is            Agent who deals with rentals is    actually being paid.                  securing a position with a large                                         management company or reputable    Rentals are a haphazard way of        relocation service. While these    making money as an Agent. You         positions are few and far          have to rent a large number of        between, they do pay well and on   apartments, houses and                time. There are a number of large  condominiums to make a decent         management companies that handle   buck. Even after you do start to      apartment rentals for large        see leases signed, the properties     properties. Most offer some sort   that pay your Broker tend to hold     of salary and benefits, plus a     back the commission for extended      small commission. Legitimate       relocation services contract with     completely honest about problems   large companies to find rentals       with their new property will       for employees involved in short       eventually claim a share. The Tax  or long term projects. They also      Collector will also want his or    tend to offer a salary verses         her cut. That’s the problem with   commission compensation package.      being an Agent. There is always                                          money going out almost as fast as  Time-shares are for hard-boiled       it comes in. This is one job       people with great smiles. Most        where failing to be able to think  States allow several days for         on your feet and make good         people who purchase Time Shares       decisions fast will cost you.      to change their minds, and many                                          do. Beyond that kind of               For those exceptional individuals  frustration, there are hassles        who have phenomenal sales skills,  with being paid. Like the rental      some extra cash to throw around    biz, pay hassles, expenses            and a keen business sense, there   deductions and commission             is commercial real estate sales.   disputes are common. Let’s face       Selling commercial property can    it. If you want to make the           mean huge rewards. However, it     really big money in Real Estate,      takes years of preparation under   you are going to have to sell         a good mentor and a knack for      traditional properties.               that sales niche to make it to                                           the big commissions and fabulous   Even if you happen to be              property listings. This is         fortunate enough to land in the       definitely not for the newbie.     middle of a hot market, there are                                        going to be setbacks for Agents.      Selling Real Estate is about       Brokers take a chunk of your          getting out there. If you prefer   commission. Lawsuits by unhappy       to spend time in front of your     homebuyers who feel you were not      computer, try real estate          investing. You do not need a          less than a third of them          license and can make a great deal     actually see a profit.             more money. What you do need is a                                        good knowledge of your local Real     Anyone can pass a test, but not    Estate market and an ability to       everyone can become a successful   close deals that will provide         agent. If you are money motivated  good returns. It’s all about          and can wait for the big payday,   flipping properties and avoiding      that helps. The idea is to look    the rental money pits that sucker     at a career in real estate as a    in many novice investors.             long-term investment. It’s not                                           the way to go if you cannot work   Before you make a decision to         well with others or function on a  become an agent, talk to licensed     team. Any new agent who wants to   agents out in the field. Consider     become a sales superstar has to    what they say about their             start by learning the ropes. Most  earnings, brokers and how             do that by becoming part of an     friendly or unfriendly the local      established sales team and         market is to agents. Many areas       playing second fiddle to the best  simply cannot support the number      sellers in the office. Like any    of Brokers and Agents trying to       Commission Sales Career choice,    eke out a living there. In            becoming a Real Estate Agent       California, for example, it’s         requires careful planning,         said that there are more Real         consideration and proper funding.  Estate Agents than Lawyers and         About the Author: Author: Bill Knell. Author's Email: billknell@cox.net. Author's Website: http://www.billknell.com Terms To Use Article: Permission is granted to use this article for free online or in print. Please add a link to or print my website address of http://www.billknell.com A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. For more advice on career, business and personal choices, please visit http://www.BillKnell.com Source: www.isnare.com