Getting your realtor license is much like getting your insurance license. Yes?
So a number of years ago, I obtained my license to sell health and life insurance. I work for AFLAC for a time and it was a whole lot of door knocking. basically prospecting. Later I worked for another company and it was a whole lot of prospecting and trying to chase down potential customers as well. All of which was 100% commission based. ( I no longer sell insurance.)
Being 100% commission is a job in my opinion. being a realtor, for some people could be a good income depending on how hard they work being a insurance sales person can be a good income depending on how hard they work. Neither job equates to owning real estate. Both jobs if you made a lot of money you could invest into real estate.
I had one gentleman tell me four years ago that he was a real estate investor because he just got his realtor license. I didn’t even take the time to correct him .
I agree with you. They're both great professions for making solid commission money. I hesitate to say "job" because to me a "job" implies a 9-5 situation with a boss and salary and a set of limitations and structure in place. As you know, being an agent and selling insurance are not like that.
But I also agree it's not really investing either. You get good experience because you're seeing other people invest but putting your own money at risk is a very different ball game.
Quote from @Ben Firstenberg:
I agree with you. They're both great professions for making solid commission money. I hesitate to say "job" because to me a "job" implies a 9-5 situation with a boss and salary and a set of limitations and structure in place. As you know, being an agent and selling insurance are not like that.
But I also agree it's not really investing either. You get good experience because you're seeing other people invest but putting your own money at risk is a very different ball game.
Cutting grass or trimming trees might not be 9-5 either…:)
Quote from @Joe S.:
Quote from @Ben Firstenberg:
I agree with you. They're both great professions for making solid commission money. I hesitate to say "job" because to me a "job" implies a 9-5 situation with a boss and salary and a set of limitations and structure in place. As you know, being an agent and selling insurance are not like that.
But I also agree it's not really investing either. You get good experience because you're seeing other people invest but putting your own money at risk is a very different ball game.
Cutting grass or trimming trees might not be 9-5 either…:)
True! In a way they're both commission jobs!
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#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
one of the benefits that i see with the RE license or should I say benefit to me personally. Was all the networking all the buyers and sellers you meet over the years and all the different business's they are in .. Along with learning about many different facets of RE investing like for me learning foreclosures tax sales Hard Money lending.. learning how to put partnerships together. Learning how to start a building company . All sorts of different revenue streams.
Buying rentals is pretty simple concept and most anyone can do it.. but of course there is more to it and that all revolves around managing tenants.
Insurance I am not all that sure about.. But I just made an investment with an insurance broker who is rolling up small offices returns are far better than any real estate rentals for sure but no real tax bene's.. so will see.
Quote from @Joe S.:
So a number of years ago, I obtained my license to sell health and life insurance. I work for AFLAC for a time and it was a whole lot of door knocking. basically prospecting. Later I worked for another company and it was a whole lot of prospecting and trying to chase down potential customers as well. All of which was 100% commission based. ( I no longer sell insurance.)
Being 100% commission is a job in my opinion. being a realtor, for some people could be a good income depending on how hard they work being a insurance sales person can be a good income depending on how hard they work. Neither job equates to owning real estate. Both jobs if you made a lot of money you could invest into real estate.
I had one gentleman tell me four years ago that he was a real estate investor because he just got his realtor license. I didn’t even take the time to correct him .
As someone who was on the fence for a while I think getting your real estate license has it's benefits. Because depending on the area you are able to have a occuaption that isn't necessarily selling houses. It give you more options than just selling insurance. And it gives you experience as an investor as well.
@Joe S. - Certainly right - I would just add that not all jobs give you the same level of flexibility to becoming a full time investor; being an agent certainly can propel you to be an investor due the nature of it.
"Getting your realtor license is much like getting your insurance license. Yes?" I would tend to agree when it comes to the actual testing. Obtaining your real estate license bears similarities to acquiring your insurance license, particularly in regards to the testing process. Mastery of the test content is crucial, yet the most valuable lessons often materialize after passing, through hands-on, real-world experiences/transactions. Regardless of the path you opt for, it's essential to commit wholeheartedly and give your utmost effort. Good luck & happy investing!
Quote from @Ben Firstenberg:Agreed, great way to learn and make some money but not the same as being an investor.
I agree with you. They're both great professions for making solid commission money. I hesitate to say "job" because to me a "job" implies a 9-5 situation with a boss and salary and a set of limitations and structure in place. As you know, being an agent and selling insurance are not like that.
But I also agree it's not really investing either. You get good experience because you're seeing other people invest but putting your own money at risk is a very different ball game.
Quote from @Joe S.:
So a number of years ago, I obtained my license to sell health and life insurance. I work for AFLAC for a time and it was a whole lot of door knocking. basically prospecting. Later I worked for another company and it was a whole lot of prospecting and trying to chase down potential customers as well. All of which was 100% commission based. ( I no longer sell insurance.)
Being 100% commission is a job in my opinion. being a realtor, for some people could be a good income depending on how hard they work being a insurance sales person can be a good income depending on how hard they work. Neither job equates to owning real estate. Both jobs if you made a lot of money you could invest into real estate.
I had one gentleman tell me four years ago that he was a real estate investor because he just got his realtor license. I didn’t even take the time to correct him .
Joe,
Both tests are similar in that they'll check your mastery of knowledge you'll never use, so that the State can make money and the existing companies can keep out competition.
Gary