Any realtors in the house?

mrebecca

What in all does a realor do? I mean, I know they sell houses and all, but there's more to it, right?
How are wages determined?
How long until the job starts paying? I know it's not a get-rich-quick thing and lots of hard work is involved...

I've been thinking about taking courses to get licensed as a salesperson, but I don't know enough about it to determine whether or not it's "for me."

secretsout

My dad used to be one.  

His income was determined by sales.  Some months he did well, some months he didn't make anything.

In some ways he schedule was good because he was able to be home with us when we were in school and were sick or had a field trip or something, and he was often there when we got home from school.  But, he missed a lot of dinners and weekends and vacations because he had to work when it was convenient for clients.

The money can be really good but it is dependent on the housing market.  Even if you are a good salesperson, if there aren't any house to sell you're out of luck.

dovetail223

I have my license and work for a broker, but it's not my primary job. The commission rare varies by state. But the schooling/classes are pretty cheap and if you are a good test taker, the test is easy.

After that, if you work for a larger brokerage you will probably by thrown some walk-ins, but unless you are going to network and hustle those first couple years you will be wasting your time. It's competitive because people think it's easy so there are a lot of agents...everywhere. And it's def easier after you have been doing it a couple years. But it's a job for self-starters. Be honest with yourself if that's you.

Good luck!

kellijo1013

mrebecca said:

What in all does a realtor do? I mean, I know they sell houses and all, but there's more to it, right?

There is a lot to it including really understanding the purchasing contract, but it mostly is finding clients and selling houses.

How are wages determined?

We get paid on commission when the houses close. If you joined a team environment that may be different but if you work on your own it is commission only.

How long until the job starts paying? I know it's not a get-rich-quick thing and lots of hard work is involved...

Realistically it could take a year to really earn any kind of consistent income which is why a staggering number don't make it to their 2nd year (it's something like 7 of 8 get our of the business)

I've been thinking about taking courses to get licensed as a salesperson, but I don't know enough about it to determine whether or not it's "for me."

I would say consider looking around and seeing if anyone in your area is looking for an unlicensed assistant and start there. You will know very quickly if it is not for you. I use a licensed assistant and she is an assistant because she had a hard time generating her own business.

LTMama

DH got his real estate license at the end of last year, but is doing it part time right now.  It's definitely a lot of work.  Lots of running around with prospective clients, and dealing with people who flake out on him (making him take them out 6-7 times, then deciding not to buy or rent anything, or just never follow up after that).

He just started, so I don't have the perspective of someone who's been in the business for a while.  In our area (NoVA/DC), real estate is never too bad, so there's that, but the hours suck.  He's the busiest when DD and I are home in the evenings and on weekends, so that sucks.  But I think once you get more established, it can be really flexible.