Should I become a realtor?

Question

I have sparked an interest in real estate specifically the investor aspect when it comes to multi family properties. I’m loving all the info on BP.  I want to learn more and submerse myself in real estate by possibly becoming a realtor to better network and look for opportunities. Any input would be great! Thanks in advance

James Wise · Answer

Go for it. The advantages of getting your Real Estate license are endless really. To name a few

• Access to deals before the general population.
• Earn commission on the buy side of your own purchases.
• Save money on commission on the sell side of your own purchases.
• Ability to tour homes on your schedule and your schedule alone (outside of sellers restrictions of course). You've removed a middle man who's schedule could slow things down.
• Ability to earn additional income working with other investors or buyer / sellers.
• Training.
• Networking.
• More respect from those looking at you / your business. You are a licensed professional in many peoples eyes now, not just a regular Joe.

Nathan Gesner · Answer

Have you considered the actual costs? Real estate is an inexpensive career to get into, but it's very difficult to make a living. Reports show 87% of all agents quit within their first two years.

I recommend saving up 6 - 12 months of living expenses. Then find a brokerage that will provide a solid training program to get you started. You can consider breaking out on your own or working with a smaller company and better splits after you've proven your earning ability. A large group like Keller Williams will have the best training but you'll also face some tough competition.

Dennis M. · Answer

When you sell a house then you have to disclose your a realtor and having access to the mls is easy without being one it’s also no advantage to get into houses sooner in my experience because if it’s on the market it’s already a lousy deal . There’s expense and time involved to be compliant . Big headache for little gain in my area any way

Joaquin Camarasa · Answer

Adding to  what @Nathan G. said, to be more specific count on paying between 3k to 5k a year depending the brokerage you go with.

Also, in order to succeed you need to be very social and be ready to connect with people. If you can't commit full time, I think is better to start in a smaller brokerage with less fees, so you can build your knowledge little by little spending the less amount of money.

I would try to find an agent in your area and take the agent for lunch a couple of times. Ask him every possible question you might have, it will be cheaper than all the fees you have to pay in a bigger company.

At the end of the day, if you are working full time it will be very hard for you to attend the trainings anyway, do lots of youtube, lots of networking with your time after work and little by little you will feel more confident as you gain knowledge.

John D. · Answer

@Nathan G.

This would be a supplement to an already established career in a different field. Thanks for the reply

Should I become a realtor?

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