Career as an Agent?

15 Replies

So I am graduating June of this year, and I am considering skipping college and getting my Realtor license and becoming an agent, but there are a few things I would like to ask.

1.) How difficult is it to break through in this career field? Especially with a person as young as I am.

2.) Is college a must? I know it is not required, but is it recommended?

3.) How much money can you truly make doing this?

I know it takes a lot of hard work to make a living in this field, especially starting out, but I am determined to do whatever it takes to achieve my goals I have set for myself. Thanks to anyone who replies.

@Account Closed  welcome to BP

1. I was a Realtor. The fees are pretty expensive. I know some Real Estate firms have much better training than others. I think Keller Williams has pretty good. I was on the fence whether I wanted to be a Realtor - or just try to invest in Real Estate. I thought having access to the MLS would let me find all these great deals. I did not find it much more useful than having access to Realtor.com. Although, Realtor.com has had to be more user friendly because of competition like Zillow.com/Trulia.

2.  College - I think this is more your personal experience/preference.

3.  I think the top Realtors make most of the money.  Probably top 20% make 80% of the money.

Being a Realtor did take away my excuse of not having MLS access was why I wasn't finding RE deals.

 Maybe you could get your license and go to college same time full time/part time?

1) It is very difficult to start in real estate from scratch.

2.) College degree is not needed to be a real estate agent, but if you ever want to do "something else" then a college degree that supports that field will help. 

3.) Money made depends on your success, but expect 20-30K a year starting out.

There is a very high dropout rate for agents. While it is a hard field, it is not unachievable, but you do want to have goals and a vision before proceeding onward. Others in the field will not tell you it is difficult to scare you out of the field. They will do it to be truthful with you so that you understand that going in and aren't surprised later on. Its better to know it up front.

1.) How difficult is it to break through in this career field? Especially with a person as young as I am.

2.) Is college a must? I know it is not required, but is it recommended?

3.) How much money can you truly make doing this?

1. It's like any other endeavor. You get out of it what you put in. There are all kinds of agents: listing agent, buyer agent, commercial, rental etc.. Try to focus on one aspect that you enjoy. Be persistent. If you know what you are doing, people will work with you no matter what your age. 

2. Get your degree. If all else fails you have a degree to fall back on. Some colleges are now offering real estate degrees. You can look into those also. 

3. You can make a lot of money. I started out as an investor and quickly found out that the realtors were finding all the good deals so I became an agent. Eventually I became a broker and opened an office. You can make a good living on real estate commissions but you can get rich by investing in real estate. Be persistent and educate your self. Joining BP is a good step. Most real estate agents have no clue about real estate investing and you won't learn investing by getting a  re license. 

@Account Closed  I would think you wouldn't have as much start up expenses if you could find a job at an investor friendly title company.  Plus then you would see what deals were coming through and how all the moving parts are actually working together.

It's a very easy field to get into, but very hard to get started (why would someone want to list their house with a newbie when they could list it with someone who knows how to market, negotiate, has a huge network, etc <---- these are questions you'll want to ask yourself).

If you're just starting to think about getting into real estate, see if you could work with a top producing agent, especially while getting your real estate license.  Then, you could continue to work with the agent if it all works out, plus make money!

I'll never forget what my RE teacher said to our class when we were getting our real estate licenses:  "Take a look around at everyone in this call (there were about 50 of us).  80% of you won't be in this business one year from now.  Now, the remaining 20%... 90% of you won't be in this business 2 years from now."

Wow... that leaves 2 people out of 50.

Oh, and for college... is it a must?  Not unless you want to be a doctor or lawyer.

1.) How difficult is it to break through in this career field? Especially with a person as young as I am.

How well you do depends entirely on how hard you're willing to work, which is why some people thrive at it and most people quit. Most agents out there are working for commissions rather than for their clients.  Be a decent human being, return phone calls, act with integrity and you'll be ahead of the curve.  It takes time to build a client base so don't expect to make much your first year.  Partnering with a great mentor who needs a buyer's agent or assistant who is willing to hand you some leads would be a good idea to pursue.  Starting out does not have to be expensive depending on the rules in your area.  Pay for school, pay for your license, and sign with a brokerage who let's you pay as you earn.

2.) Is college a must? I know it is not required, but is it recommended?

College has nothing to do with your real estate success IMHO unless you're going into development or something specialized.  Personally I think people go to college too young in the states.  Give real estate a try, if you're successful it will fund your future college education should you decide to pursue one, and you'll have a much better idea of what you want to study.

3.) How much money can you truly make doing this?

Unlimited.  It just depends on how hard you're willing to work, how smart you are in building your business (just like any other entrepreneurial activity), and how savvy you are with your strategies.  I've doubled my income each year in my first three years, I make way more than anyone would pay me for a job based on my college degree, and my goal is to continue doubling for the next three years.

Bottom line: You'll never know unless you try. Low cost and low barrier to entry. Go for it!

I would recommend attending college and looking for a part-time/summer job related to real estate.  Even if you are just putting up and taking down real estate signs it would let you get familiar with the local market and make some connections.

If you aren't interested in college at all, I would look at learning a trade that would be beneficial in real estate investing - plumbing, carpentry, electrician, etc.  

1. How difficult is it to "break into"? The barrier to entry to be an agent is very low, (too low in my opinion), the tests are pretty easy, continuing education is easy, however there are a number of costs involved up front. Getting your license, being on the MLS, joining your local Board, when you put your license under a broker, they will charge either a "desk fee" or part of your transaction.

2. College? Even though I do not personally believe you need college to be successful, I would recommend  getting a degree, even if it is an associate's degree. Depending on your area, if you pursue a degree in real estate, the classes should count towards your license requirement, kill two birds one stone. Employers love seeing that a person has a college degree, just in case being an agent doesn't work out. I know this runs contrary to the "burn the boats" idea, but I am just more conservative by nature. 

3. How much money can you make? With any pure sales/commission role, that is completely up to you. There will always be a need for sales people in some form, so that is why they tend to make a lot of money if they are successful. If you are good with pushing your comfort zone and doing the things others are scared to do you can be very successful. 

@Account Closed  

  no one can really crystal ball what would be best we can only talk about what we did or did not do.

Every response above is reality... like 20% of agents make 80% owning a few brokerages I can tell you this is certainly true.

As Micki states if you do get in the bizz ANSWER YOUR PHONE  that alone will help you succeed.. I am not sure what's up with today's agents never answering their phone but its a huge mistake in my mind.

But then again I think in any transactional or Sales environment  20% make 80%  think about it some one has to win the sales contest's !! And its usually the same person over and over.. just walk into a car dealership you will see who the best are..

I got my license at 18 had many a rough day getting started. but once I landed that first deal. and got a 600 dollar check when if I was working I would have been making 3 bucks an hour back in the day... Well that was motivation enough

And getting a license is not that hard at ALL... do both go to college and get your license getting the license is very cheap for the doors it opens.

@Account Closed  

welcome to the site.

college is not necessary. It is a very difficult field to make a lot of money in but a great job if your dedicated & motivated enough. 

Many people go into it not willing to put in the time and effort it takes to build a business. They are used to working x amount of hours and being paid x amount of $. They do not understand that everything you do will not directly lead to x amount of $. You must plant seed after seed after seed.

I am a current real estate agent and just completed my first year in real estate as a 24 year old. Here is my 2 cents...

If you are looking to skip college to get out of extra work you will be sorely disappointed. In real estate nothing gets handed to you. You have to go out there and get it especially when you are just starting out. Think where are you listings coming from do you know anyone that buys quite a few properties? 

Real estate is a different animal, you can't expect to start in real estate and start rolling in cash within the first month. Becoming an agent to me was an investment that I decided to make but it wasn't cheap. 

Those are my thoughts would love to help in anyway that I can. Best of luck to you, put your head down and work harder than anyone else in your field and you will succeed. 

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