Real Estate agent as a side gig.

[RagingBITCH]

My friend makes $60K a month doing real estate on top of what she makes off of her own insurance company. She's looking to bust into commercial real estate which is some big $$$.

 

[FrustratedUser]

Originally posted by: Gibson486
It's not easy because about 40 other people have the same idea. You have to give them a reason why people should pick you over the next realtor and there usually is not a reason at all. It's all about closing the deal before the other realtor.

I'm sure my good looks and charm will solve most problems.

 

[Gibson486]

Originally posted by: FrustratedUser

Originally posted by: Gibson486
It's not easy because about 40 other people have the same idea. You have to give them a reason why people should pick you over the next realtor and there usually is not a reason at all. It's all about closing the deal before the other realtor.

I'm sure my good looks and charm will solve most problems.

Well, I guess the you could run a promotion:

"Rent or buy with us and I sleep with you for a night".

 

[FrustratedUser]

Originally posted by: Gibson486

Originally posted by: FrustratedUser

Originally posted by: Gibson486
It's not easy because about 40 other people have the same idea. You have to give them a reason why people should pick you over the next realtor and there usually is not a reason at all. It's all about closing the deal before the other realtor.

I'm sure my good looks and charm will solve most problems.

Well, I guess the you could run a promotion:

"Rent or buy with us and I sleep with you for a night".

Please don't steal my business idea. :|

 

[trmiv]

If I had a frigging dollar for every person in this area (SF Bay Area) that is a real agent on the side, I'd be a rich man. I swear everyone around here is into real estate.

 

[sygyzy]

It is that easy, in terms of the technicalities. Every jack and jane is a realtor. You don't even need any sort of education or degree. You just take the test. But, like others said, the difficulty lies in the fact that everyone else has the same idea.

 

[FrustratedUser]

Originally posted by: trmiv
If I had a frigging dollar for every person in this area (SF Bay Area) that is a real agent on the side, I'd be a rich man. I swear everyone around here is into real estate.

..... and this is actually partly why I started this thread. (Besides getting JulesMaximus riled up)

 

[iroast]

you also need to work with a broker for 3 yrs, i believe. after that, you can go solo

 

[FrustratedUser]

Originally posted by: iroast
you also need to work with a broker for 3 yrs, i believe. after that, you can go solo

Bummer.

 

[Toasthead]

Originally posted by: toekramp
it's not that easy

of course...you gotta FIND the buyers

 

[Stuxnet]

Originally posted by: JulesMaximus

Originally posted by: jbourne77

Originally posted by: Injury
If you aren't a part of an agency, you are going to have a much harder time. Most people are not experienced in home buying. When they consider it, the first thing they do is open up the phone book and call up names they are familiar with.
Remax. Caldwell Banker. Century 21. Who the hell is going to call Jim Jones' real estate first? Aside from that, if you come across as a guy who just does this in his SPARE TIME then why would a client think you are serious about it?

Furthermore, if you ARE part of an agency, you'll have monthly dues and fees to pay, regardless of whether or not you sold any homes. An RE friend of mine pays over $3,000 a month for a desk, computer, and network affiliation. It's like a mini-mob. Even if she doesn't sell any homes in a particular month, the Man cometh-a-knockin' looking for his 3 G's.

My wife works for Coldwell Banker. They take roughly 40% of her commission. It sucks but she works for a well established office so there are more possibilities for good leads. She busts her ass marketing herself though and it's paid off. She has closed 4 homes this year and she has 4 active listings right now.

BTW-Almost all of her commissions have been 2.5%. This seems to be the norm around here.

Yup - that's where the REAL money is in RE: at the top. These companies basically have websites that interface with MLS, they provide an email address and a 486, and charge agents out the YANG to use their name.

It's pretty rediculous.

 

[squirrel dog]

Oh and dont forget your fellow agents , the ones that will knife you for a listing , lead , ect . My wife is an agent , has been for eleven years now . The stories she brings home would be enough for me to start jacking jaws , or at least run over some signs

 

[Stuxnet]

Yep... competition is extremely fierce in my area... it's amazing what agents will do to each other... even ones who share offices/desks.

Definitely not something I could do.

 

[BoberFett]

My wife and I are both Realtors. I've been at it for about 6 months, she just started. I'm full time, she's part time. We have yet to close a deal. I've got 4 clients, all buyers, all dragging their feet. Two are definitely not doing anything until spring, one is a wild card, and only one is serious about buying soon.

It's not an easy business for the first year or two. Ask any established agent, the first couple of years suck for most new agents.

 

[mugs]

Originally posted by: BoberFett
My wife and I are both Realtors. I've been at it for about 6 months, she just started. I'm full time, she's part time. We have yet to close a deal. I've got 4 clients, all buyers, all dragging their feet. Two are definitely not doing anything until spring, one is a wild card, and only one is serious about buying soon.

It's not an easy business for the first year or two. Ask any established agent, the first couple of years suck for most new agents.

I thought your wife was a stripper

(I may be confusing you with someone else)

 

[dirtboy]

I'd say it's not going to be an easy business for the next 8-10 years... cover your ears, cause the bubble is bursting!

 

[Scarpozzi]

Walk around and start asking ppl you know if they know a real estate agent. I guarantee you'll find that there are more real estate agents than people trying to buy houses.

 

[BoberFett]

Originally posted by: mugs

Originally posted by: BoberFett
My wife and I are both Realtors. I've been at it for about 6 months, she just started. I'm full time, she's part time. We have yet to close a deal. I've got 4 clients, all buyers, all dragging their feet. Two are definitely not doing anything until spring, one is a wild card, and only one is serious about buying soon.

It's not an easy business for the first year or two. Ask any established agent, the first couple of years suck for most new agents.

I thought your wife was a stripper

(I may be confusing you with someone else)

That's why she's a Realtor part time.

 

[BoberFett]

Originally posted by: Scarpozzi
Walk around and start asking ppl you know if they know a real estate agent. I guarantee you'll find that there are more real estate agents than people trying to buy houses.

Very true. In the Twin Cities market right now there is roughly one agent per listing. There is around one buyer per three agents. It's easier to get a listing than it is to find a buyer right now, but harder to sell the listing..

 

[Slew Foot]

The housing bubble has attracted whole loads of idiots into the real estate market and for better or for worse, they've exposed what an easy cash grab the RE market is, especially in CA. Seriously, you hold one open house, the house sells for $700K, you take home ~30K, repeat. ALthough I will say that the market appears to be slowing down significantly in the last couple months.

 

[FrustratedUser]

I'm actually tracking 65 houses in my area looking for the sale price, what they sold for previously anf how long they've been on the market.
Turned out to be quite interesting. The asking price for around 10 of them have now dropped between 5 and 15k. :thumbsup:

I'm going to do this until Dec/Jan and start looking seriously. Always good to get a feeling for the local market.

 

[mdchesne]

Originally posted by: toekramp
it's not that easy

I'm saying exactly what toekramp said.
my proof: I have none, but it just can't be as easy as the OP makes it sound. a list can make anything look easy: example:

COLLEGE:
1. get some cash
2. get books
3. sit in class
4. pass exam
5. graduate

 

[FrustratedUser]

Originally posted by: mdchesne

Originally posted by: toekramp
it's not that easy

I'm saying exactly what toekramp said.
my proof: I have none, but it just can't be as easy as the OP makes it sound. a list can make anything look easy: example:

COLLEGE:
1. get some cash
2. get books
3. sit in class
4. pass exam
5. graduate

Isn't that what college is about?

 

[dirtboy]

Originally posted by: mdchesne

Originally posted by: toekramp
it's not that easy

I'm saying exactly what toekramp said.
my proof: I have none, but it just can't be as easy as the OP makes it sound. a list can make anything look easy: example:

COLLEGE:
1. get some cash
2. get books
3. sit in class
4. draw diagrams
5. pass exam
6. graduate

You missed one.

 

[Ornery]

...the will to meet with your clients at the drop of a hat...

There's why my wife isn't in it already. Your evenings and weekends are not your own. Once our boys are moved out, she may very well get into it. God knows she's got the desire and enough connections!

BTW, I'll still NEVER deal with an agent if I can help it!