Thinking about becoming a Realtor/getting into Real Estate

[Paul Farley]

Let me give a brief overview. My name is Paul and I am 27. For the past 2 years I have been working for a marketing company. One of our largest divisions is Real Estate and I am the head of our Real Estate department. So for the last two years, I have been speaking with Realtors, Brokers and Mortgage Brokers. Since I started my job, I have been having a sense that I have a calling for Real Estate. I am not sure if I would want to be a Realtor for ever, but I think it would be a great entry to other things. I would love to buy Real Estate and flip it, but I do not have any where near the required capital for it.

Other than speaking with Real Estate individuals on a normal basis, I do not know much about it. What is the hardest part of it? Is it difficult to get any listing to sell if I would start? Would this be something I could do part time (nights/weekends) until I felt comfortable doing it full time? I have a family, so I can't just quit my job now to go at it fully.

Will a brokerage hire me if I do not have any experience? If a small brokerage hires me, will that damper the ability for me to get any listings to sell?

I guess I just need a good helping hand to let me know a route or what to look out for. I live in Ohio, so I did some research and talked to a friend that said I must go to classes and then pass testing. Then I can become licensed and from that point I will need to join a brokerage.

Thanks for any help!

[David Hunter]

Hey Paul,

From Massillon ay?  Not far from me at all.

To answer a few of your questions...

Yes, a broker will hire you without any experience.  Broker's jobs are to get as many sales agents as possible.  There is a high turnover rate in this business.

I went to Hondros in Independence.  The instructor told us... "Look around at everyone in this room (there were 50 of us).  80% of you won't be in this business 1 year from today.  The 20% who do make it, 90% of you won't be in this business 2 years from today."  Yikes!

So, it's a tough business.

The brokerage is not as important as you think.  But, since you don't know much about real estate you'll wan tot go with a broker who offers you lots of training so you can learn the business.  I always recommend starting out as a licensed assistant to a top producer, but I don't think that'll work for you since you already have another daytime job.

One thing you'll hear about in this business is you get to control your time!  That's true to an extend.  Most of it is control by your buyers and sellers.  And, a lot of them don't want to hear, "Oh, I can't show you this house because I'm going to my son's recital."  That's like the kiss of death.  Buying and selling a house IS a life or death situation for these people.

Is it difficult to get listings?  No.  And, you're in the marketing field, so it should be a breeze... as long as you're not a branding guy, you'll be find (if you're a branding guy then good luck to you).

Go out and talk with some brokers.  Get a feel for it.  Heck, maybe go shadow and agent before diving in to make sure this is what you want.