calling all Real Estate agents!!

do you like your job? would you change it if you could?

how did you get into RE?

Re: calling all Real Estate agents!!

I LOVE my job. It's not something I went into lightly or without a lot of thought, though.

I am an attorney and practiced law (corporate litigation) at a large Manhattan law firm for almost 9 years before I changed careers. For me, it was a quality of life issue. I wanted to work locally and spend more time with my son, but I also wanted to do something that I was truly interested in and could be passionate about. Sadly, I wasn't enjoying practicing law and it was making me miserable. I envied people who felt fulfilled by their careers and knew I had to make a change.

So I thought about what I could do that would be flexible, and fun, and also allow me to use some of the skills I had acquired during my years of legal practice, such as dealing with contracts, negotiating, and representing clients. I really enjoyed my own house hunt and have always been interested in real estate, so I decided to pursue real estate sales. As an attorney, I didn't have to take the 75 hour course or pass the licensing exam, so it was a quick process. I talked to the managers at a couple of local companies and chose the place I felt most comfortable.

There are pros and cons. The biggest pro can also be a minus -- I am my own boss, essentially, running my own business. So it's very flexible and I get to make the decisions about how I market myself and what areas I focus on, and how and when I work. But on the flip side, there's no salary or benefits (you work strictly on commission), and you have to be a self-starter and have a lot of motivation and perseverence to stick with it. It can be hard to generate business when you are first starting out, so there are big financial tradeoffs. It's a very competitive business. But there are so many different things involved with the job --- one day I may have a listing presentation, preview homes for a buyer, and go to a home inspection, for example -- so the days fly by. I just find it fun, and I like helping people. And I like looking at houses -- I've always liked decorating and I am planning on taking some home staging classes, too, to offer additional service to my clients.

Let me know if you have any specific questions. I work for a great office - - lots of mentoring and training and teamwork. I am always happy to answer questions!

Message edited 3/22/2011 11:07:00 PM.

Re: calling all Real Estate agents!!

my story is kind of similar- I worked in corporate retail and product development for 6 years after FIT

I was a sunday dreading miserable person

My Dad was a real estate broker/owner when I was younger and I always said one day I will be a real estate agent

Well at 31 I found myself in a position where I could start over and do what ever I wanted- so I did

I love what I do- I did have to take the class- but no offense to attorney's- you should want to take to the class

I take classes all the time thru my company and LIBOR- we are the only company with our own corporate trainers who only train us- it's a huge advantage

Currently I am #1 in my office with less then 2 years in the business- I am sure I make it look easy- but the truth is I work about 65 + hours a week, weekends are a must- but I am single so it works for me

But people have different expectations of what they want out of the business- which is one of the great things about real estate

you can sell 1 house every month or so or your goals can be like mine to be a Top Producer ($200k + a year)

my sales goals are about 40 houses a year and I am on track to meet or beat that

you will get out of real estate what you put in to it

if you think you are going to "work from home" and make $10k a month- guess again

but if you want to work hard and put in the time $10k is very do-able

Message edited 3/23/2011 10:42:00 AM.

Re: calling all Real Estate agents!!

Just wanted to clarify that I agree that training and continuing education is important -- no offense taken as an attorney!

But I disagree that attorneys should take the licensing class. Attorneys are automatically brokers, and there is a reason for that. I have reviewed the materials used in the class (for my own information) and much of it is the type of material covered in first year of law school property law and bar exam prep (trusts and estates, etc.). It was a benefit to me to be able to transition from my career without having to take (and pay for) 75 hours worth of classes and wait to pass the exam to be licensed. I know several attorneys on this board have contacted me about getting into real estate, and they should know that we don't have the start-up costs (and time lag) to become licensed, although there are other costs, such as LIBOR dues.

I do think that the training you get once you are licensed (not to mention on-the-job training) is more valuable than the initial licensing course.

That being said, although I do not need to take continuing ed, I, too, often take training classes because I want to. I think everyone, but especially relatively new agents, should take advantage of the classes that are offered and in-house training opportunities. It's very helpful to keep abreast of new real estate developments and tools, and to learn now to better service clients, develop specialty areas, etc. Obviously, after 7 years of higher education, I am someone who likes to take classes!

Century 21 is continually recognized in the top 100 companies (in any industry) for their training program, and it's invaluable. I know some other companies have a sink or swim mentality, but it's much easier to succeed in a supportive environment and in company that encourages their agents to do things the right way, not just the easiest way. (And ethics was a very important factor for me in choosing a company, too, given that I AM an attorney.)

Re: calling all Real Estate agents!!

any agent getting licensed now must take 22 hours of continuing ed every 2 years to keep their lic

which you can get by getting certifications as wells as taking regular continung ed- I got my CDPE - which is a certified distressed property expert certification and that counted at 13.5 credits

the market is changing daily- I love taking these classes and learning - b/c I can make more money that way

the class and state exam cost about $500 - plus LIBOR dues (another $500)

I didn't have any lag time- it took about 3 weeks to get my Lic....

I turned down just about every real estate broker on Long Island to work for Exit- I think they are an agent focused future thinking company -

While companies like Coldwell banker and Century 21 have training- those trainers go from company to company teaching all the agents the same thing

We have trainers that ONLY train Exit agents- so when we learn something new- they aren't leaving our office and going to Re/Max next- that's a huge advantage

and not everyone can be an Exit trainer- the requirements are very strict

We pay no franchise fees and out split is beyond fair

Everyone in my office supports each other and my broker asks me weekly what she can do to make my life easier

there is no sink or swim mentality in Exit or my office- the companies model is based on helping each other succeed

ETA- this post was suppose to be about if we like our jobs and how we got into real estate

being the "new kid in town" I feel the need to spread the word about Exit- I work for the first Exit office in Suffolk- we might be the first- but we wont be the last- we are growing- in this market- while other brokerages are closing there doors- or becoming Exit offices!

Message edited 3/23/2011 11:40:25 AM.

Re: calling all Real Estate agents!!

Beth - EXIT sounds like a great company, too. In talking about my supportive office environment, I wasn't trying to suggest that no other office has adequate training and support by talking about what I like about my office - hope it didn't come off that way. It seems like EXIT has a lot to offer agents.

And I think talking about our experiences in our particular offices IS addressing how we got into real estate (how we chose our office) and what we like about it (e.g., training and support in your company).

We are obviously enthusiastic, hope Karin and others find it helpful!

Just a minor point - Century 21 trainers do NOT train agents at other companies. They only train Century 21 agents and there are many unique tools that are only used within the Century 21 organization, so we have training on those and other things.

Also, attorneys who get a real estate license are exempt from continuing ed requirements. So not all new licensees need to do it. But as discussed, it is useful to continually take courses and obtain designations. And now we are Ha.

Re: calling all Real Estate agents!!

ok ladies

ETA - thanks for all of the perspective! i am currently in capital equipment sales but feel a change looming on the horizon...

we have family in RE, for decades so I can always go that route. just wanted some insider info from the BTDT crowd. I really do appreciate it!

Message edited 3/23/2011 12:04:19 PM.

Re: calling all Real Estate agents!!

My work background is in real estate as an appraiser (mostly commercial). When my DH and I were looking at houses I decided to get my sales license. I love doing real estate. I think something important to mention is that when you start out, at least in the Coldwell Banker office I work in, you aren't given listings or buyers to work with. You must bring in your own customers. This can be a challenge. There are also some costs involved as Beth mentioned, the fees for the classes, and then the annual MLS fees and Realtor fees. Also only speaking from my experience, commision splits are 50-50 when starting out so you are essentially making 1% of sale price (give or take) less any fees and taxes. You really have to be working to be making money!