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Vkim79605, Home Buyer in Abilene, TX

Becoming an Agent

Asked by Vkim79605, Abilene, TX Wed Sep 5, 2012

Is the market in Abilene pretty saturated with agents? Is it fairly easy to take home at least 2,000 per month?

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8
Vkim,
If your goal in real estate is to make $24,000 a year, the outlook for success if bleak.
Such low expectations will certainly get you stuck in the quick sand of the low margin market. You do not have the experience to control your business to make 'low margins' a profitable market segment for you. You will end up spending the same 10 to 60 hours per transaction, and in the end have less in your pocket than the 'fry' jockey at Checkers.

Take a week or two and chat with a few agents AND brokers and talk about the ways one can make money through real estate. Identfy existing resources and access you can leverage or new venues that can be opened for you through your planning. When you identify the segment that resonates with your dream AND existing market conditions, then you have a clue where to begin, how your money will be earned, who willl be paying you, how much you will be paid and what is the potential growth for your business. Would you open a sneaker store without knowing EXACTLY the same information?

95% of newly minted agents say, "I've got may license, now what?" Two years later, they are doing something else.

There is NO EASY MONEY! The less you make, however, the harder life is. Do your home work as I describe, set your goals at no less than $250,000 Gross a year, then plan accordingly. You will understand these numbers ONLY when you actually do the homework.

NOTE: As you go about completing your homework, have an agent or broker show you how much revenue you must generate to take home $24,000 and pay all the associated taxes and insurance. Your really, really, really need to think bigger.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
2 votes Thank Flag Link Thu Sep 6, 2012
I think that in the Abilene Market that would be obtainable for a motivated agent !!!!!
0 votes Thank Flag Link Thu Sep 6, 2012
There is only one person that can and will determine what you will or won't make in Real Estate and that is YOU. Don't expect that you'll get your license one day and people will be knocking on your door the day after. This is a business that if done correctly will grow steadily year after year due to the referral business you'll generate. However, getting from point A to this stage will not be an easy road and definitely isn't for the faint of heart.
0 votes Thank Flag Link Thu Sep 6, 2012
The rate for failure in this industry is one of the highest in the nation. The brokers/owners of the franchise will generally always encourage you as this is the way they earn income. In the real world you need to have a business plan with specific goals and ways to obtain those goals. Gone are the days when the part time agent had a chance. In today’s world the role of the Realtor has greatly changed and much more is required than ever before, gone are the days of the 6 page contract and welcome to the role of government agent for Fannie Mae with almost 100 page files for which you might earn $1250.00 which you will split with your broker. I’m not saying you should not become a Realtor® but go into with your eyes wide open, interview several brokers & agents, see it from both sides, have a business plan, have cash stashed because it may be a long time between pay checks, be aware of all the fees & education which is required this can be as little as a couple of grand or as much as 15k per year. You are not selling Avon an getting into the business for a couple of hundred dollars, just to join the “club” you will lay out some major money and have ongoing fees and expenses. Do your homework, then after you have a plan and you understand this choice move forward.
0 votes Thank Flag Link Thu Sep 6, 2012
If you need a certain amount per month - maybe start part-time, then, once you develop your business where your income stream is stable, become a full time agent.
Also, many people start with rentals - and accumulate 6 months emergency fund first, then go full time.

Hope this helps,

Irina Karan 305-904-2355
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Wed Sep 5, 2012
plent of part time agents but room for professionals
0 votes Thank Flag Link Wed Sep 5, 2012
Hello,

I would recommend visiting a few real estate offices and talking with a few managers/brokers and agents to explore if becoming an agent is a wise step for you. Out of personal experience, it helps to have a chunk of money to cover your expenses for the first four to eight months. In addition, when I first got into real estate, I often found myself work 6-7 days a week, by choice, in order to be successful. No matter what you do, take your time and make sure you know what you are getting ready to partake in.
0 votes Thank Flag Link Wed Sep 5, 2012
The correct answer to this question depends on YOU. Your skills, education, training, motivation, goals, pro-activity and drive.

Is it fairly easy to take home $200, $2,000 or $20,000 a month? NO. It's NOT easy. But it IS done.
The difference in the amounts, again, depends on YOU.
0 votes Thank Flag Link Wed Sep 5, 2012
hit the nail on the HEAD
Flag Thu Sep 6, 2012
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