Becomming a Real Estate Agent

10 Replies

Hello BiggerPockets members!

I'm considering signing up for the Massachusetts Real Estate agent course. I would like to become a real estate investor one day. I'm currently unemployed. I'm excited to put my full effort into working as an agent. I am wondering how others got started in my area. Are there any agencies that will take on brand new agents? I'm looking for recommendations and partners in Worcester Mass.

          Thank you ahead of time for any responses and I hope you're all having a great day!,

                                 Sam Gould

@Samantha Gould Almost ANY agency will take on new agents.  That's where recruiting is the easiest.  

Most agencies hope you'll do well, but realize that very few agents make it past 2 years.  If you bring in a deal or two in the meantime, great.  You're not getting paid a salary, so it's no skin off the agency's nose.

The average time from shiny new license to first income is 90 days.  Especially as you're new, there will be long periods - sometimes months - between paychecks.

You'll be faced with expenses too. License, MLS, E&O, desk fees, business cards, signs, marketing, CRM, website, and of course, lots of gas as you run around showing properties.

It's hard work.  A lot harder than most people think.  But it's rewarding - and I wish you the best of luck!

If I can help, feel free to call.

Originally posted by @Charlie MacPherson :

@Samantha Gould Almost ANY agency will take on new agents.  That's where recruiting is the easiest.  

Most agencies hope you'll do well, but realize that very few agents make it past 2 years.  If you bring in a deal or two in the meantime, great.  You're not getting paid a salary, so it's no skin off the agency's nose.

The average time from shiny new license to first income is 90 days.  Especially as you're new, there will be long periods - sometimes months - between paychecks.

You'll be faced with expenses too. License, MLS, E&O, desk fees, business cards, signs, marketing, CRM, website, and of course, lots of gas as you run around showing properties.

It's hard work.  A lot harder than most people think.  But it's rewarding - and I wish you the best of luck!

If I can help, feel free to call.

@Samantha Gould  Interview with several different brokerages and ask about exactly what kind of training they offer.  That's the most important thing for new agent.

When I went to my first, I was promised "continuous, ongoing training.  In reality I got nothing except what was on the corporate website and what I could learn from one other agent.  The broker was almost completely unavailable.

Be sure you understand exactly what fees they will charge. Some charge nothing, some charge desk fees, admin fees, copier fees, E&O fees, etc.

As much as I like the office and broker where I'm hanging my license, don't forget that with franchises like Century 21, Weichert, Sothebys, etc, each office is individually owned.  Each owner/broker sets their own policies and fees.  

That said, C21 just rolled out some very impressive new tech, called "Zap".  It's a very good CRM/lead management system, agent website, etc.  I'm sure other large brokerages have something similar.

@Samantha Gould

Like Charlie said- most if not all will take brand new agents. I took the exam coursework online which was great and I would say schedule the exam soon after you finish the 40 hour coursework 

In CA 50% examinees flunk the test first time. Many took twice to get the license. If you are hard working it can initially supplement your income. In the mean time, I suggest you take a paying job even as a receptionist or realtor assistant to get your foot in the door. There are agents willing to train you while you get paid. Majority want your commission to mentor you. You get your own leads. 

Brokerage, you want an office with more new agents. KW split for rookies is better than others. C21 is kind of dated brokerage. It was popular 40 some years ago. I believe its franchise fee is the highest. 

@Samantha Gould everyone has given you the things you should look at on the agent side. On the investor side, absorb what you can from all the resources on this site and attend networking events. The networking will help you in your investor days as well as on your agent side.

@Maurice D. I had a similar question, so if anyone has any take on that, I would be interested in hearing their response.  I work full time as an accountant and want to become an agent part time. I want to get my foot in the door while still having the w-2 salary to help me with traditional financing.