Day Job + PT realestate agent? Is it possible?

Question

HI!

I'm very interested in getting my realestate license.  Currently, I work at a bank full time and my schedule is 8:45-7 M-F and 8:45-3 on Saturdays, with an occasional Saturday off, and usually a Monday or Tuesday off during the week.  I'm looking into finding a class nearby, but am most curious how all this works.  I have read a lot about agents being mostly commission based.  That scares me to death, and was thinking that maybe I can ease into it and do it part time. All though,  I'm not sure how that would work with my schedule.

I love my job now, and it is sales based, and I'm looking for bigger and better, and my significant other is really into real estate, and I thought why not try selling houses?  It seems pretty interesting, and we just acquired a rental (needs a lot of work, but we are being positive about it!), and we are hoping to get into wholesaling too.  <<<<< and the wholesaling thing also makes me wonder if I was an agent, would that make me loose out?  I have a ton of questions, and any opinions or feed back would be greatly appreciated!!!

THANKS!

CARRIE,   IL

Carrie Herrmann · Answer

James- Do you have your license under a company, like a brokerage?  You mentioned you use it for your own investment purchases....

Carolina- Thanks!  It does sound like it could be possible with being committed to it!

Lynn-  As far as the info for the class, in IL you just pay one flat fee and that covers ALL of your materials, and then you pay to take the exam and that's like $46.

Karen- That's what I've heard, you need to find a brokerage, but I got a little curious when I read what James had said....

"It is possible, but as Karen pointed out, it will be tough. My business partner and I both have our licenses and we both work full time. We primarily use the license on our own investment property purchases, but as time has gone on more people have approached us to help them buy as well (family, friends, co-workers, etc)."

Shane Woods · Answer

Can't speak specifically to Florida,

But in Texas you have to complete a certain number of course hours, like college.  Once that's done, you take the test.  course study materials shouldn't matter new/used...but you'll still have to actually take the courses.  Either online or in person.

Lynn Henley · Answer

Do you actually have to take a new class, or can you purchase some used materials from the a past class, and take the test?  I found someone who had taken a class last year, and wants to get rid of their materials.

Thanks,

Lynn (FL)

Karen Margrave · Answer

@Carrie Hermann I'm sorry I didn't see this sooner. If you get your salespersons license, you do have to work under a broker for a period of time, until you are eligible to get a Broker's license of your own if you wish to go that route.

@Lynn Henley do a search for Real Estate License Schools Florida. There should be several that will offer online classes. See if either Allied Schools, or Kaplan has Florida classes.

James Vermillion · Answer

It is possible, but as Karen pointed out, it will be tough.  My business partner and I both have our licenses and we both work full time.  We primarily use the license on our own investment property purchases, but as time has gone on more people have approached us to help them buy as well (family, friends, co-workers, etc).

We are careful not to get too involved as agents (especially me) because I do not want to be a real estate agent, I am a real estate investor.  As @Karen Margrave mentioned, getting a license has quite a few benefits if you plan on being around the industry.

Lynn Henley · Answer

I'm also considering doing the same.  What are some good sites that offer state approved online training?  (I'm in Florida)

Thanks,

Lynn

Joel Owens · Answer

Check with your state real estate commission. Most states you have to start under a brokerage.

Carrie Herrmann · Answer

Also too, once I have that license, does that mean I'll need to find a broker that I'll need to go under?

Carrie Herrmann · Answer

Thanks Karen!  I've been looking at classes here and there.  I'm thinking of just starting with that and going from there!