Anyone into real estate sales?

[RgrPark]

Kinda thinking about getting into it since I can't be a bum all my life.

Found out that all u need to do in NY is to take a 45hr course (2-300$) and pass the $15 state test and be sponsored by a real estate agent in order to get your lincense.

Also, if i were to buy a house later, i can do my own paperwork and be able to save (?) because the seller would not have to jack up the price to give 3% to the buyer's agent..?

Anyway, I'd like to get some real inputs from people who are into real estate sales and people who know ppl who are into it.

Is it pretty common to be able to sell a house or two in a month? I consider myself personable and don't see any problems being a salesperson. It would be nice to hear your experiences. It justs sounds too good that selling a $400k house will get you about 12k$??

 

[rh71]

my cousin (26yo) decided to do it. his real career is engineering and he wanted to do real estate on weekends. He's got his license and everything but in the 1.5 years he's had it, I can assure you he hasn't gained $12k from it. Apparently it's not that easy. Depends how much effort you put into it I guess. That's the lure of real estate... it only takes 1 or 2 sales for a nice bonus... but it's evidently a lot of work.

I don't get it though... houses are selling like mad in NY at ridiculous prices and he has little/nothing to show for it (as far as I know). He's based out of Queens. Maybe only the experienced agents get the good potential ones.

 

[Strk]

Originally posted by: RgrPark
Kinda thinking about getting into it since I can't be a bum all my life.

Found out that all u need to do in NY is to take a 45hr course (2-300$) and pass the $15 state test and be sponsored by a real estate agent in order to get your lincense.

Also, if i were to buy a house later, i can do my own paperwork and be able to save (?) because the seller would not have to jack up the price to give 3% to the buyer's agent..?

Anyway, I'd like to get some real inputs from people who are into real estate sales and people who know ppl who are into it.

Is it pretty common to be able to sell a house or two in a month? I consider myself personable and don't see any problems being a salesperson. It would be nice to hear your experiences. It justs sounds too good that selling a $400k house will get you about 12k$??

You don't exactly sell a house in a month, but you can get several closings in one month.(ie: you can go several months with zero paychecks, but you can have it setup so that several houses will close in one month.) Also, you have issues where you can get near a closing and either the buyer or seller back out of the deal.(any reason)

Also, the percentage depends on the agent. Oh and if you're the listing and selling agent, the $400k house gets you $20k-24k, depending on your commission percentage (and in NY, 400k-500k houses should be easy to find.)

 

[GasX]

1 question: Could you handle driving around the most annoying woman you have ever met to see 75 houses and then have her tell you that she is buying a house that another realtor showed her?

If the answer is yes, Real Estate may be the career for you!

 

[Strk]

Originally posted by: rh71
my cousin (26yo) decided to do it. his real career is engineering and he wanted to do real estate on weekends. He's got his license and everything but in the 1.5 years he's had it, I can assure you he hasn't gained $12k from it. Apparently it's not that easy. Depends how much effort you put into it I guess. That's the lure of real estate... it only takes 1 or 2 sales for a nice bonus... but it's evidently a lot of work.

I don't get it though... houses are selling like mad in NY at ridiculous prices and he has little/nothing to show for it (as far as I know). He's based out of Queens. Maybe only the experienced agents get the good potential ones.

The problem is, a lot going into real estate thinking it is easy money, but it requires consirable work. You need to find customers(it isn't loaded with people calling up randomly going "omgs sell my house plz!"). It requires things like going through news papers for for sale buy owners, searching through listings that are about to expire and dealing with some of the biggest pains in the butt ever. Also, advertising is a headache and a half. You can give an advertiser 100% accurate information and sometimes the only thing they will get right is you are selling a house.

 

[richardycc]

just finished my real estate classes, just need to pass the state and fed exams, then I am in! my goal is to sell 2 houses my first year doing it part time, wish me luck.

 

[eno818]

actually the 3 percent you get is also divided in half between you and the agency you work for. therefore, more like 1.5 percent if you are the buyer's agent.

 

[RgrPark]

anyone else?

 

[RossMAN]

I would listen to Strk's advice.

People won't be knocking down your door asking "Please help me sell my $200,000 house!!!".

I hope you're well connected and have a nice near luxury car/SUV.