Becoming a real estate agent

7 Replies

I am currently a senior in high school, and plan to get my real estate license as soon as I turn 18. Do you have any advice for a young girl getting started in real estate?

Yes go be a realtor assistant for a year, get some income, bank it, be a good team player and befriend a high producer,

You cannot go wrong with Keller Williams,

Good luck!

Keep in mind that many agencies offer their agents an incentive to recruit new agents. Make sure you get in with someone who does not just consider you as an easy bonus, but will actually offer their time to help you grow.

Also think about if you want to sell real estate or invest in it. Have to be careful investing as an agent.

Originally posted by @Jeremy Shepherd :

Also think about if you want to sell real estate or invest in it. Have to be careful investing as an agent.

 Hey Jeremy,

I am wondering, why do you say you have to be careful investing as an agent?  More careful than if you were not an agent?  I am looking into getting licensed as an agent and being an investor as well so I would love to get your advice.

Thanks,

John

There are some non-vanilla investing type strategies where investors like to play stupid and act like they didn't know better when it back fires.

If you are licensed the state real estate commissions hold you to a higher standard being trained in contracts plus you need to disclose upfront when you are engaging a seller to purchase the property.

Being a broker/agent also has a ton of benefits. It all depends on how you look at it and what type of investing strategies you are trying to use. When you sign on with a brokerage there is an IC ( independent contractor agreement ) you must sign and it is supposed to disclose what activities you can do at that brokerage. Anything not listed or a grey area you need principal broker approval first or their designated BIC ( broker in charge ). 

Mariah the assistant is a good idea to see if it is even like you thought RE was in your mind. Get paid as an assistant performing gopher like tasks for the office or a top producer. There are licensed and unlicensed activities so you need to make sure you are in compliance.

Build up the money as mentioned. Eventually you might want to sit a subdivision selling homes. You can build up great cash that way and not use much gas or wear and tear and your car.

Biggest mistake I see is new agents getting into residential start in the summertime for the peak 3 or 4 months. They get a few closings and spend the money. In residential with regular buyers the peak is the summer months as many families want to get kids in and settled before school starts. So the rest of the 8 months a year production drops off for many.

So what I am saying is if you make 15k for 3 months and spend most of it you will be in trouble because if the other months are 1 to 2k you now have about 30k for the year gross before taxes and business expenses. Residential you have to average out for the highs and lows.

I am in commercial working with investors so it goes year round.  

Forgot if you are going to show a home DO NOT show it by yourself.  No amount of money or commission is worth taking a risk.

You always want to keep people in your sightline so you can watch them at all times. Do not let your guard down simply because someone is old, has a family, seems nice etc. You follow the same protocol regardless everytime.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here