Hey Dee*Jay!

[Miscka]

I was wondering if you had any advice for someone considering going in to real estate. I know the market is rough right now, but it would take me awhile to get through the requirements anyway. What do you think makes a good agent? What is the best way to get started/find a job? Thanks in advance!

 

[Dee*Jay]

Micksa, hello! I''m happy to share with you my *opinions* and you are welcome to take any or all of it for what it''s worth.

To be a good agent you must ALWAYS, NEVER EVER WITHOUT FAIL, remember that the transaction is NOT ABOUT YOU. EVER. Everything single thing that happens in a deal is about the client, period. I hear people in my office who will say to one another, "Geez, I wish they would just buy SOMETHING already so I can move on to a new client," and I just want to smack them right in the head. A buyer is making probably the most expensive decision of their life, and a seller is letting go of an asset to which they might have significant emotional attachment, not to mention a vested financial interest. It is about THEM, not about YOU.

The best way to get a job is to go and interview the local real estate companies in your area. Note I did not say "interview with" I said "interview" because you need to decide which one has an environment and culture that you want to work within. Some real estate companies require that you spend a lot of time in the office when you''re not with clients, others let you work from home if that''s your choose and you''re self motivated enough to do that.

Also, seriously take whatever training they provide into account. The class that you take teaches you how to pass the test first and foremost, and if you get any education on how to actually be an agent it will be far secondary to that. So you will come out of the exam with a license in your hand and no idea whatsoever of how to buy or sell a piece of real estate, or even get a client for that matter.

A lot of people think that starting out as someone''s assistant is a good way to get into the real estate busines. I have mixed feelings on this. Yes, you will get a better idea of how to be a real estate agent by working for one than say selling blue jeans at the GAP, but I see a lot of assistants who are promised the moon and then end up bearning the burden of all the administrative stuff the agent doesn''t want to deal with. Don''t get me wrong, it IS important to know how to put in a listing, but you don''t want to spend all your time inputting stuff into a computer and running earnest money checks around. If you go that route make sure you can also shadow your agent when he/she is out with buyers or doing listing presentations. Open houses are also a great way to get your feet wet in terms of becoming comfortable showing a property as well as a chance to pick up unrepresented buyers.

You should set aside several (6 or more) months worth of $ to live off of. It''s conceivable that you might not have your first closing for 6 months. (If at the end of 6 months you haven''t had your first closing and there are none on the schedule for the near future you might want to rethink whether this is seriously a path that you want to keep going down).

Consulting an accountant is also a very good idea because as a real estate agent you will almost certainly be an independent contractor, not an employee, and that is a whole new can of worms in terms of taxes, etc.

Let me know if you have any specific questions or if there is anything you want me to touch on that I didn''t hit here. I believe there may be other real estate agents on this forum, so hopefully they will chime in and give you advice too!

 

[Miscka]

Wow, thanks for your great response! I had heard that about the 6 months thing, OUCH! What is common as far as benefits? Do most agents get health insurance, etc. through their companies or are you on your own for that mostly? Also, what are some personality traits that you think are helpful/hurtful? Thanks!!

 

[Dee*Jay]

In a word the benefits you will probably get are ZERO. Remember, you are not an employee, you are an independent contractor. Our firm has found a company that will offer a group rate on health insurance to each contractor but I don't really know much about it since I am covered under my husband's insurance from his job, but I have heard people in my office say that the coverage is very expensive.

Personality traits that would be helpful are that you're a people person, persistant, motivated, upbeat, ethical, hard working, and a zillion more... People who enjoy squirriling themselves iin the darkest corner of an office with nothing but a computer screen to keep them company probably won't do well at this!

 

[Miscka]

Thank you Dee Jay! You have given me lots to think about!

 

[Dee*Jay]

My pleasure! I''ll be happy to answer any other questions you might have. Please keep us posted!

 

[snowflakeluvr]

Dee Jay,
how i wish YOU were our real estate agent...dh and i are moving(i''ve "talked" to you before-dh works in warrenville area and commutes from our home in ohio) but now other opportunities are presenting themselves so we may be headed elsewhere but we are definitely relocating this summer. i called an agent i found online after looking at houses extensively to get a feel for what is available, asking prices, etc and of course it''s hard to KNOW unless you visit a city, a community and see for yourself. but even this agent, albeit softly, tried to sort of impune her own opinions about where to live. i told her we''re a family who spends almost all of our time together-dh is so busy/stressed/tired of traveling that our weekends are for the kids and us together etc. she kept pushing the city, the theatre, and frankly i told her living further out would reduce property taxes(hence more $$$ in theory for mortgage) but i felt like she didn''t really "get" me and what my needs are for my family, ya know? so i really appreciate you telling miscka that is it always about the BUYER/SELLER and not you. that''s really enlightening to hear from an agent
good luck to you miscka in your decision. it seems like a fast-paced, interesting career in which you could have a lot of success and meet a lot of great people too. (i didn''t mean to hijack your thread but i think dee jay has some great perspective)