I just cannot decide if I want to become a real estate agent. I hear that most agents fail. I’ve watched dozens of videos about the topic. I have a pretty good handle on what the pros and cons are. Can someone please tell me their personal experience with becoming an agent and what their experience was?
Thanks all 🙏
I am not an agent but I completed my prelicensing. My reasons for doing so is it increased (1) my credibility as an investor, (2) my knowledge of details that go into a transaction, (3) my local network of practitioners from contractors, lenders, brokers, and certainly agents.
The reason why most agents fail is because they are interested in real estate rather than committed which, in this context, means consistently engaging in sales-related activities. Some folks didn't make it through the course. Unfortunately, some people buy into the idea that it's mainly about driving around showing people homes but that's just the surface.
Regardless of whether you plan on going full-time or part-time as an agent, or an investor, becoming an agent—for the most part—offers upside potential that outweighs any potential downsides.
Thanks Edward for your response! That’s very helpful! I’ll probably go ahead and do it then.
I am currently in the process of getting my license in Ohio. I am doing it for the income I can produce on the side to put into investment properties. I also believe it helps solidify your credibility and can give you an edge. I don’t think it is necessary and if you are in the fence I would probably not do it. As long as you can find a good agent you should be fine
Like you Eric I could use the extra income. And I need to increase my credibility for sure! Thanks for the feedback!
You are correct. Most fail.... I would reccomend taking the coursework, and taking action!
@Paul Sammons I love doing it.
Just realize that you won’t make any real money for a while, will work 14 hour days all spring and summer every day of the week and will really have to hustle and network to make it happen.
If you can do that you can learn everything else.
Just to throw it out there I don’t think being a part time agent is worth it. You need time and you have to commit to learning everything about the career.
Meh. Go for dentistry (ortho or pedo), nurse practitioner or chemical/metallurgist engineer. If you like working a lot you can become an ambulance chaser and make BIG bucks.
AWESOME QUESTION. I actually start my class for my license in Georgia on Monday. I'm so excited!
Why am I doing this?
No idea. Really, it's just to gain more knowledge and to network.
Now that class is, I don't know, 600 dollars, and then I have to take the state test, and license fee's. Let's say I can get out with my license for under $1K.
If I can forego one commission, in lieu of someone else paying the closing costs OR my commission offsets the closing costs...there's the ROI on the spend. One sale. We should be buying our next property in August/September.
Am I going to sell houses, no way, that's not for me. At least, not at this time. Unless I'm the owner that is. I may get into something later in life if it suits me.
Interested vs. committed, whomever said that deserves a beer.
My license will give me knowledge, credibility, access, insight, and networks. Why not!
@Jordan Moorhead thanks for the insight Jordan! Sounds like you’re saying that to make it worth it you have to really put in a lot of time/effort.
Thanks @Account Closed ! That’s interesting! It intrigues me to think of the doors that might be opened by becoming an agent. And one sale getting your money back is a good thought!
JUST DO IT
Seriously, what you learn in class is the tip of the iceberg but is super beneficial to learn the concepts of title, deeds, contracts etc. Couldn't hurt!
Account Closed I second that and went through the exact same thought process when thinking about pursuing this myself
@Paul Sammons are you wanting to do it as a career?
Quite possibly Caleb! It’d be great if it were a good fit for me and I could be an agent/investor. The extra income would sure be nice!
It's really about asking can you run your own business and are you a self starter. The agent end of it is just a license to help you get to a goal.
Thanks for your advise everyone! I payed for online class today and started studying!