Should I become a Real Estate Agent?

Question

I have looked into taking a real estate agent online course.  I figured this could help me in the future but obviously it will take some time.  Should I follow through with this or just find a realtor to help me find properties here in Jacksonville, FL?

Nathan Gesner · Answer

There are probably 100+ threads and blogs about this. Nobody can answer it for you, there are pros and cons. Personally, I think you need to sit down and count the cost. It can take two years to make a decent living and there are a lot of expenses along the way. The average REALTOR makes $44,000 which doesn't include their expenses and it doesn't account for them working nights, weekends, and holidays to earn a buck.

I think it's a great way to get involved and find deals but you need to go in with eyes wide open.

Jack Bobeck · Answer

@Sergio Sanchez There are currently 9,025 licensed realtors with the Northeast Florida Association of Realtors (NEFAR). Last month there were 2,656 total sales in their MLS area or 20,214 so far for the year, 8 months out of the year. For all of 2017, there were 28,000 homes sold.

You will find that being an agent will cost you money, either monthly or when you close a deal. There is no free ride in any office. Figure you will spend $500 with NEFAR for the privilege of working in the area MLS and another $100 per month with any office.

Yes, prices are rising in Jacksonville, 10%+ year over year, its been great, but there are so many new Realtors that have no clue how to be a respectable agent. Few "new" disrupter firms offer any training, and many of the "brokers" in these firms compete directly against the agent. Do you think they want to train you on how to take their business away?

Before you go down the road and drink the Kool-Aid of getting your license, interview the firms in the area, where you need to hang your license, find out what your expenses are going to be monthly and with sales. Take the time now to learn about education, what is offered, what is expected of you (some agencies charge their Realtors to attend training, no matter if they agents do not need it), so spend some time doing the research before you become number 9,026.

Best of luck to you!

Sergio Sanchez · Answer

@Nathan G.  I will look into that.  I am getting involved with a referral group and maybe someone in there may know someone who can give me some guidance.  I truly appreciate this.  Thank you.

Nathan Gesner · Answer

I think you'd be better off finding a real estate investing group. Network with other investors, learn the ropes, and maybe even find a mentor. That's worth much more than a license.

Sergio Sanchez · Answer

@Tammie Jones thank you. I appreciate that. That is definitely a plus to be licensed in another state as well.  Thank you.

Sergio Sanchez · Answer

@Corby Goade thank you.  I figure it can't hurt to be an agent.

Tammie Jones · Answer

I agree with Corby Goade.  I have a real estate license and am a full time broker and property manager in Indiana.  When licensing in FL you would be reciprocal in Indiana!!  Feel free to reach out anytime!

Corby Goade · Answer

I've been investing for 15 years and got my license well in to my investing career. I'm kicking myself for not doing it sooner for many, many reasons. I can't think of a reason not to.

Sergio Sanchez · Answer

@Nathan G. thank you for your response.  I was thinking about it more for the knowledge and understanding the markets.  I currently own a lawn care company and will be starting a paint company with my cousin and figured being an agent could help with those businesses as well.

I will definitely try to talk to some realtors here and do more research.  Thank you again for your input.

Should I become a Real Estate Agent?

Most Popular Reply