quote:

Originally posted by 220-9er:
You can make a very good living but it's not a quick and easy way to get rich.

Which is the persistent folly of many people, who are just too lazy to stick with anything that requires skill and years of effort to make work. We've all known individuals like that, always looking and trying the next thing to make a quick and easy buck. There's no such thing, but that's the way they are wired. I call it laziness, but it might be a more complicated psychological disorder, I don't know. I used to know a family man with very nice wife and a large brood of great children, who never made a serious long term effort to establish himself in a career, always looking for the next way to make a quick dollar. I always felt bad for his children and his inability to care for them adequately. He had a BA from a prestigious university, and was great to have a conversation with on many interesting topics, but as far as I can tell that was the extent of his success. It was sad and bothers me to this day remembering those years for him and his family.

I've worked in the real estate industry most all my life. Back in the early 70's, when I was working in title insurance, a realtor came in and gave a presentation. She said something that has always stuck with me. It was ..."90% of the homes sold are done by 10% of the realtors.

Those "movers and shakers" earn every penny they make. If they get a day off, they are far and few between and forget your weekends, they are always working. Many of them do so well they have a team that does most of the grunt work and they are usually paid pretty well. They are always selling, even when on vacation.

The funny thing is...they really love what they do in spite of all that.

I sold Real Estate for 21 years. I was not great at it but I made a living. That put me in the minority. The real successful Realtors work 80, 90, 100 hours a week. You do nothing else. You said that you could get in for about $1,000. So you pay your money and do the work needed and now you are a Realtor. With that and $5 you can get a cup of coffee most anywhere. There are lots of Realtors but very few are making a living and fewer yet are successful. If you have the funds and skills to be an investor, do that. That's my advise, take it for whatever you think it is worth. Best of luck to you.
Rod

Hello!

Thank you everyone for your input!

Jim

Well the other side of the coin is, and I wouldn't quit my day job to do this. If you have the funds to become a real estate investor (and in most markets now is a poor time to acquire properties). You could become a realtor for the $1000 and if it doesn't work or you don't like it, some brokers will still let you hang a hat there and being a licensed realtor will save you a lot of commission on the purchase of the investment properties you plan on purchasing if you choose to go the investor route and you still probably could make the annual dues being a buyers realtor for a friend here or there or something like that.

quote:

Originally posted by frayedends:
My girlfriend is a very successful realtor. I've learned a few thing from her over the past year and a half.

I'd be glad to ask her any specific questions you have. What I can say is she started part time. But she did not have success until she quit her other jobs and did realty full time. She says that unless you are totally dependent on it then you don't put in the amount of work it needs. And it's a lot of work. She is on the phone, email or at houses from 7 AM until 10PM. She does have free time, but it's never guaranteed.

Connections are important, you have to be an easily likable person with a lot of friends. Word of mouth is your best advertisement.

^^^^^^^^^^This. My BIL is one and this is the same thing he told me. You also have to deal with ALOT of people BS from people. God Bless !!!

Being a licensed real estate broker is what the state requires. Most states require you to be a licensed real estate salesman working for a broker for a year or two before getting a license to be out on your own.

Being a Realtor is joining a club.

The average Real Estate Sales Agent salary in Wyoming is $37,685 as of March 28, 2019, but the range typically falls between $36,815 and $47,935. Salary.

I am a licensed Broker in MA and FL.

And a licensed Contractor in MA.

I do it more for investing and being able to GC my own work.

I ran a sales/rental office for many years in Boston.

20% of the brokers made 80% of the money.

You are either a closer or not.

Zillow and Redfin and others are reshaping the market.

I think the broker's job as we know it going the way of the Dinosaur.

Not sure what is next but I see it changing and not for the benefit of the Broker.

I know several niche Brokers that make mid 6 figures but it took them 20 years to develop their clients.

It is not an easy way to make a living.