Real Estate Agent

[Big D]

I'm getting sick of my job, and Real estate salesperson seems like a pretty cool job.

looks like i can do most of the course online.

i'm just wondering anyone here a Real estate salesperson ??
do you think its worth it ??

[megwell]

my whole family is into real estate.
there is good money to be made
that being said.....

have half a years salary saved up before getting into it.
it takes a while to get into the swing of things....... have a good mentor ..... someone who's doing it....... doing it exceptionally well.

cold calls.....cold calls.

[PdH]

I looked into it once but you have to be a person of good character or some shit like that, so **** it. ;)

[ubcpower]

If youre just starting now id go into property management

[LonelyBedouin]

^^^ Ditto, Ive been looking into investing in a house near my school. There is serious money to be made from renting....

[faller]

cold calls.....cold calls.

My wifes a realator and believe me cold calls go under the category of tele-marketing, any realator worth anything will never do this.

But you're definitely right about haveing money saved, have LOTS saved up. I worked double time in her first year. As for a mentor, meh most times it won't work. Either you have what it takes or you don't. And the shitty thing is you don't know till you try.

[megwell]

My wifes a realator and believe me cold calls go under the category of tele-marketing, any realator worth anything will never do this.

But you're definitely right about haveing money saved, have LOTS saved up. I worked double time in her first year. As for a mentor, meh most times it won't work. Either you have what it takes or you don't. And the shitty thing is you don't know till you try.

when it comes down to the mentor is simple
compare it to training.
if you had the opportunity to traing personally with ronnie or the personal trainer at the gym............ who do you think will make you better.

[faller]

Ronnie would not train me unless i gave him my first born. The personal trainer at the gym i don't give the time of day because they have nothing to offer.

There is an office here that has a mentor program in place and i don't see it working. Not to sound harsh but every realator that has come out of there is a light weight. Mentor programs in this industry do not work for the simple reason all realator's are independent. The only way it might have a chance is if the mentor is related or is a very good friend, otherwise no one worth learning from is going to give you the time of day.

[daande]

Alot about being a realestate agent is making it look like ou are successful. Every agent leases their cars. Also, in your city there is probably a thousand agents depending on how big ur city is and only a handful of them are actually successful.

[musclehead123]

20-80 rule applies with real estate. 20% of the top sale people are making 80% of the money. <----this rule goes much more in depth.

Depending on where you live market might be saturated already, so you have to consider that as well. You got to learn how to "read people" (just like in any sales job).

My neighbour does it, as a side job pretty much only when hes going to buy or sell a house (that he owns) so he can make some $$$ on commission.

One of my relatives does it....i believe he was or is one of the top real estate agents in the lower mainland....couple years back i saw his stats for the last 8 years and he had sold over 2000 properties.

Theres money to be made in sales jobs thats for sure. I know a guy at future shop that sells home enterainment and he averages $400 a day. But you got to know how to talk.

[steve_d]

[QUOTE=musclehead123;277725]20-80 rule applies with real estate. 20% of the top sale people are making 80% of the money. <----this rule goes much more in depth.

QUOTE]


I know where you're coming from, but that rule can be said for basically anything to do with percentiles by definition. Of course the top 20% will be making most of the money.

For example, in any place where people vary in terms of salary could you ever say the top 50% are making 50% of the money?

I think in reality its the top 5% make 95% of the money or more.

[musclehead123]

[QUOTE=musclehead123;277725]20-80 rule applies with real estate. 20% of the top sale people are making 80% of the money. <----this rule goes much more in depth.

QUOTE]


I know where you're coming from, but that rule can be said for basically anything to do with percentiles by definition. Of course the top 20% will be making most of the money.

For example, in any place where people vary in terms of salary could you ever say the top 50% are making 50% of the money?

I think in reality its the top 5% make 95% of the money or more.


That is what I meant when i said it goes in much more depth, I think it goes, the top 5% of those 20% will be making 95% of the money from that 80%.

If you take out managers out of the mix then the rule wouldn't apply to salary jobs just because a lot of salary jobs "max out". So at times a company might have 80% of their employees making 80% of the money. The rule applies more so to jobs where job performance is awarded through higher pay.

[faller]

Depending on where you live market might be saturated already, so you have to consider that as well. .

Thats a very real concideration. Here on the island the market is very saturated. In 2005 there were 1200 in VIREB (this does not include Victoria) that number is down to 1050. Haveing said that my wife say's that about half of those are barely makeing desk fee's let alone other expense's.

When the market was good everyone wanted to get in on the money, by the time they got their licence's the bottom fell out. Who knows, maybe now is the time to think about getting your licence, have it ready for when the market starts to pick up instead of trying to get at the top of the market.

Either way its a brutal industry, very demanding on your time.

[Big D]

thanks for the info guys its good to know, its hard to make a choice, it does seem like a fun a job.

[faller]

Ya it does have its rewards Big D.

[steve_d]

[QUOTE=steve_d;277751]


That is what I meant when i said it goes in much more depth, I think it goes, the top 5% of those 20% will be making 95% of the money from that 80%.

If you take out managers out of the mix then the rule wouldn't apply to salary jobs just because a lot of salary jobs "max out". So at times a company might have 80% of their employees making 80% of the money. The rule applies more so to jobs where job performance is awarded through higher pay.

I always thought of this more as common sense (although, I am a statistician so I think like a geek). But I did find out that what your talking about is called pareto's principle.

http://en.wikipedia.org/wiki/Pareto_principle

It applies to almost anything you can think of. For example, money shared amongst the population. or even things as simple as your midterm marks. You could say for example, 90% of the mark you're going to get could have been achieved with 10% of the studying.

I do think though that it gets tossed around a lot, and makes things look more skewed then it is, but most definitely real estate is skewed even beyond the 80-20 rule. Like someone said, there are likely 1000 agents in your city, and only a few of those actually make a living. hence what I think is more of a 98:2 rule! Most agents struggle to break even!

But then again, there are ALOT of people who think real estate market is easy and fast money - and it most certainly is not. It just feels like it for those of us who sold a house and dropped 20K in a matter of seconds for what we feel the agent did nothing to deserve!

[nisser]

No it doesn't apply to every job. For example, you can't say that 20% of top baristas/secretaries/construction workers make 80% of the money. It's simply not true.