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re: Becoming a realtor
Posted on 6/17/16 at 12:38 am to NewIberiaHaircut
Posted on 6/17/16 at 12:38 am to NewIberiaHaircut
I think the main goal of hers is to supplement her income and learn the real estate game. I believe her end goal is to buy and flip and do some holding. But that would be down the road.
0
Posted on 6/17/16 at 12:44 am to xxGEAUXxx
I honestly hope that it works out for her. But with that said, I would never use a part time agent to list or sell property for me. And I wouldn't use a part time agent if I was looking to buy. I wouldn't use a part time stock broker, doctor, lawyer, dentist, or most other professions where something serious or life altering might take place. Quite often in real estate, time is of the essence (a phrase always found in contracts that I write). And if one party or the other has to wait for their agent to get off from their full time job before anything can happen, that doesn't work for me.
But for people who are casually looking to buy or sell, and they're more flexible with respect to time, her situation and theirs might work out. There are people who do it and make some money on the side. So it is possible.
But for people who are casually looking to buy or sell, and they're more flexible with respect to time, her situation and theirs might work out. There are people who do it and make some money on the side. So it is possible.
Posted on 6/17/16 at 2:11 am to Jag_Warrior
Appreciate it
Posted on 6/17/16 at 5:32 pm to Jag_Warrior
How would you know the agent your using does it part time or full time? Everything is scheduled and even a full time agent doesn't have 24/7 availability just for you. Not that it's needed either.
But if your an agent and you are working 40 hours per week your damn busy. I don't know any here at least who can find 40+ hours per week.
I'd concede though, that an agent needs a flexible schedule to meet and show
But if your an agent and you are working 40 hours per week your damn busy. I don't know any here at least who can find 40+ hours per week.
I'd concede though, that an agent needs a flexible schedule to meet and show
Posted on 6/17/16 at 6:13 pm to Jp1LSU
I ask. I interview listing agents before giving them a listing or having an agent look for investment property for me. For most of what I do, even though experience is rather important, market knowledge and understanding the whats and whys of investment property are key. Most that I've used over the past 20 years or so have been CCIMs. And other than a banker, CPA or attorney doing real estate on the side, that designation would be rather difficult to obtain for the average, part time, residential agent.
But like I said, if you have time on your side or you're not in a transaction that could turn into a complex, time consuming endeavor, a part time agent might do just fine. It just wouldn't work for me, that's all.
But like I said, if you have time on your side or you're not in a transaction that could turn into a complex, time consuming endeavor, a part time agent might do just fine. It just wouldn't work for me, that's all.
Posted on 6/18/16 at 9:27 am to Jag_Warrior
that's not going to work. In order to succeed at real estate it's about a 50+ hour per week job. It's not a supplement your income job. Plus it takes about a $5000 investment just to get started and she may not make money for 6+ months. Real estate is not financially worth being in if you can't commit 50+ hours a week plus spit out your own money for advertising and such. Any honest realtor will tell you that.
Posted on 6/18/16 at 1:06 pm to Jp1LSU
quote:
But if your an agent and you are working 40 hours per week your damn busy. I don't know any here at least who can find 40+ hours per week. I'd concede though, that an agent needs a flexible schedule to meet and show
Every market is different. My days starts at 5am and I try to get in bed by 9pm, but sometimes up until 10pm. I have windows in between clients but for the most part it's non stop. I'm working solo these days average 2-3 closings a month. The money is phenomenal, but you have to take advantage as this won't last forever.
Again if you're a new agent, join a team. If your market mirrors mine, don't even consider not joining a team. You're going to do your clients a disservice. My average transaction is around 500k. I wouldn't even consider letting a new part time agent broker a transaction like that.
Good Luck
This post was edited on 6/18/16 at 1:08 pm
Posted on 6/18/16 at 2:54 pm to carguymatt
I don't disagree with you at all. In order to be successful at anything, you have to devote time and energy. But if this young lady wants to give it a whirl, I can't say that she won't find a level of success that she'll be happy with.
Posted on 6/18/16 at 7:38 pm to LSUFanHouston
quote:
Committing 100 percent of your life to being a realtor, and many people are still not successful.
If she wants something part time, sell Mary Kay.
This seems silly? Successful relative to what other part time job? Uber driver, pizza delivery?
It seems like it would be much less mentally taxing than most side jobs where a consistent commitment is required. Unlike other side jobs couldn't you go full throttle for a few weeks at a time, shut it down for a few months, then start again?
Posted on 6/19/16 at 5:12 am to ItNeverRains
quote:
My average transaction is around 500k. I wouldn't even consider letting a new part time agent broker a transaction like that.
Of course not. Why would you give someone else the commission on a $500k transaction when they are new and should be selling $100-200k houses doing the same amount of work as you did for the $500k property?
To the OP, take the advice from the realtors on this board with a grain of salt. Literally anyone can do their job just by taking some night classes. Cost of certification and licensing and how many transactions/how long it will take to "break even" (or if you can afford to potentially throw that amount of money away if it brings in no income) is all you should care about.
Posted on 6/19/16 at 6:28 am to YipSkiddlyDooo
quote:
Of course not. Why would you give someone else the commission on a $500k transaction when they are new and should be selling $100-200k houses doing the same amount of work as you did for the $500k property
This literally makes no sense. I see what you are feebly going for, but holy fragmented paragraph Batman. Read your sig quote. It applies.
quote:
To the OP, take the advice from the realtors on this board with a grain of salt. Literally anyone can do their job just by taking some night classes.
News flash Francis, outside of a small window, that statement applies to pretty much every industry on the planet.
OP, take the advice of a likely small town, south LA their entire life know it all with an even smaller grain of salt.
This post was edited on 6/19/16 at 8:06 am
Posted on 6/19/16 at 9:07 am to ItNeverRains
quote:
holy fragmented paragraph Batman
There is no such thing. You can pretend to have an English degree all you want...it doesn't add legitimacy to your training/profession.
quote:
take the advice of a likely small town, south LA their entire life know it all with an even smaller grain of salt.
Not from the south. I operate within that small window (i.e. I can do your job, you can't do mine).
This post was edited on 6/19/16 at 9:46 am
Posted on 6/19/16 at 10:35 am to YipSkiddlyDooo
quote:
There is no such thing
No shite Sherlock.
I'm sure you work in a window of that window. I have no doubt you can do my job better than me
This post was edited on 6/19/16 at 10:38 am
Posted on 6/20/16 at 9:06 am to Jag_Warrior
quote:
And I wouldn't use a part time agent if I was looking to buy. I wouldn't use a part time stock broker, doctor, lawyer, dentist, or most other professions where something serious or life altering might take place.
This makes no sense to me. My kids' pediatrician group is staffed with doctors on the "mom track" working a 30-35 hour week schedule. We've never had any problems. Would they be magically better if they were working ten hours more a week? I've also worked with some very good lawyers who I know for damn sure weren't putting in 40 hour weeks and were making a buttload more than I do
Now OP's situation is different; I don't think you can squeeze a profession into your 90 minutes of free time every evening. But to say you have to work a constant string of 16 hour days to become a competent realtor is just absurd.
Posted on 6/20/16 at 12:15 pm to Cold Cous Cous
To be fair, you're correct, in that it's not fair to summarily dismiss someone who is working part time. I have used semi-retired professionals who have scaled back to a part time schedule. But those are people who have already mastered their professions. They're not people in the beginning stages of a profession. And that's my main concern. I don't particularly care how much they make. That doesn't tell me anything about competence. I only care about what kind of job they can do for me and how many headaches they might cause me because of inexperience or lack of focused time.
As for a physician working 30-35 hours a week, no, that's not close to the same thing as being described in the OP. They're still (I assume) totally devoted to that profession. We all have lives and commitments apart from our day jobs. I'm not sure who, if anyone, claimed that 16 hours days were necessary to become a competent Realtor. But until you become competent, I do think that it's helpful, if not necessary, to be devoted to that profession... however many hours that means.
As for a physician working 30-35 hours a week, no, that's not close to the same thing as being described in the OP. They're still (I assume) totally devoted to that profession. We all have lives and commitments apart from our day jobs. I'm not sure who, if anyone, claimed that 16 hours days were necessary to become a competent Realtor. But until you become competent, I do think that it's helpful, if not necessary, to be devoted to that profession... however many hours that means.
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