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Carlos950, Other/Just Looking in Beverly Hills, CA

Hello I need your help I'm a New Agent

Asked by Carlos950, Beverly Hills, CA Mon Jun 24, 2013

I'm a new AGENT and I Need your Help with this question
Asked by Carlos950, Beverly Hills, CA • A moment ago

Hello, We'll my name is Carlos Paulin I'm almost done with Real Estate School and soon will take the test and I am really SCARED because My dads Wealthy Real estate Investor Friend told me that I was crazy to Get my Real Estate License with out taking safety precautions because he said that The California House Market is goin Up because of people like him that are investing in Real Estate and that when they STOP investing the Market will Go Down again Really Down but that this will take about 2 years to happen. Is he just putting my Real Estate Dreams Down Or is it really goin to happen Please answer

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18
Boulder Suz’s answer
Who knows? I don't have a crystal ball. But I read.

The driving force of the market is the consumer. I won't dismiss your friend's comment entirely, but the jobs picture is improving. That doesn't portend a collapse of real estate.

There is substantial investor activity and it woke up the moribund Florida market last winter. IT IS NOT investors like your friend who did that, not unless he is an investor overseas. China and Canada investors began pouring into the market because their domestic markets are said to be on bubbles. (That means the markets where they are at will be softening up soon.) Ahead of them were investors from South America and Central America who wanted to place their investment dollars in solid real estate markets. Investor participation does make a percentage of the market volatile. That's actually good news for the first-time home buyers who are missing out on the ultra-low mortgage rates and the lower prices. They might get a shot if those foreign investors pull out to chase the next big thing.

Here in Colorado, there are sellers who were landlords who are placing property on the market. When that supply runs out (and there is still no significant building going on), prices can head higher. That means opportunity for sellers who have been thinking about a larger home or retirement.

In a world that is equipped with mobile devices and Internet, it is alarming how rumors get traction and before you know it, fortunes have been made or lost.

You want to survive in real estate? Don't just listen to your friend. Do your own research.
1 vote Thank Flag Link Mon Jun 24, 2013
Hi Carlos, first congrats!!!!
Then, your RE dream has a business plan? Do you want to be specialized in investment properties? Is it commercial? multi unit family? single family, tear down, build new one and sell?
There are many fields in real estate business, some agent do anything, some are specialist about certain field and location. For example in Manhattan, being specialist for condo rental of skyscrapers is one option, some specialist for hotels, in Beverly Hills luxury real estate may be an option.

Also real estate has cycles, in USA, about every 7-8-10 years. Now the prices are really that high, time to give break from investing??? In normal market annually about 500,000 properties are distressed. When it crashed the number was 2.7 million. now dropped to 1.7 million, plus hidden properties. Yes prices are getting higher, in some location maybe it's time to give a break and watch, but in some locations more properties are coming to the market, maybe some banks will release more properties to the market, some properties don't need short sale anymore, so inventory may be will increase in short run, and then may adjust prices, at least maybe no crazy bid wars. FED said they will keep interest rate low until summer 2015. And if we take the date as 2007 jan +8 years = 2015 probably another year for real estate market go down. 2 years later, I believe market will be better than today.

Meanwhile investor means individuals relatively in small scales, investors as companies buying serious big bulk (hundreds of properties at a time or with billions at a time), there are many foreign investment companies, last year foreigners invested 82 billion dollars in US, this year, it seems like this number will be bigger. So, people who were not thinking of selling maybe they will sell when they see the prices are going up.

Also please remember about 77million baby boomers. some of them living in cold north states and waiting to be able to sell their home to move south states, statistics say big numbers. How many of the actually will do, or can do, I don't know, but all these factors will dramatically effect the near future of the real estate market.

So, as summary, first get your license, and 2nd, find a right real estate company to work for. Generally big companies have more education and sources, especially important for new agents. It's better to talk few companies and compare what they offer. It's critical which company you are work in. 3rd step, make a decision which field you want to specialized or be general agent? You can always change your mind, but starting somewhere, talking agents that already successful and learn from their experience, what is the real deal. Make a written min 5 year business plan, you need real life education, marketing, network, client database, .... it's more detailed that you think now. But please keep excitement high, because it's great business, it's not that easy, but not that difficult either. Just think that for babies it's impossible to walk, when they learn once, watch them how they run :-)) where you want to be won't be over night, be realistic, it takes about 1-2 years. but every day, you will have progress. Keep successful people around you. good luck for you. I'm working in Beverly Hills, Coldwell Banker, our branch sold 1.7 billion dolar worth real estate last year, number 1 in the world, if you want more info ,
Nur Akman
310 428 6573
Nur@NurAkman.com
0 votes Thank Flag Link Fri Aug 2, 2013
Finishing school and obtaining a RE license is a piece of cake compared to the reality of operating and sustaining your own RE business as an independent contractor. I'm not sure what your "real estate dreams" are with consideration to what you want to achieve short and long term with a RE career. This is different for every agent.

I think the "friend" is trying to inject some reality in to the situation. RE can be very fulfilling, rewarding and exhausting at various times. There is extreme high's and low's in the business because the market changes frequently and potential sellers and buyers follow suite.

Regarding the industry, you will come in to contact with folks who want to discourage your progress and those who will openly support your efforts. Over time and through experience you will be able to decipher the difference and make your own path through the maze. If you stay in the business long enough you will learn your strengths and weaknesses through the multiple challenges of buying and selling RE in today's market.

Good luck to you and I wish you all the best!
0 votes Thank Flag Link Wed Jul 31, 2013
Seems the overall market is improving. That does not mean we will not see some bumps in the road. I still think this is a great profession and would not discourage people getting involved. At least lenders are more careful in giving new loans. We just have to see if the integrity continues.
0 votes Thank Flag Link Wed Jul 31, 2013
Sharon, like any profession you just have to make a long term if not permanent commitment to whatever you do. It's really all about desire. If you want it bad enough you will step up and get it no matter the market.
0 votes Thank Flag Link Tue Jul 30, 2013
I, too, am fairly new to the business (less than 1 year). I'm not in a state as volatile as California (I'm in Nashville, TN), but I don't have any wealthy real estate investor friends. So Carlos, good luck, and if any of you other agents want to share your best strategies with me, I would very much appreciate your help as well. Thank you.
0 votes Thank Flag Link Tue Jul 30, 2013
I have a lot of very wealthy and successful real estate investor friends and consider myself a successful investor and property manager as well. Real Estate, like everything has peaks and valleys. Don' let anyone intimidate you.

There will always be a market good bad or indifferent. You just need to be the center of the hour glass and get it going both ways. That's how wealthy guys like your Dad's friends get wealthy. That's how I and many ohers keep making money in RE,

In 3 words............................JUST DO IT!!!
0 votes Thank Flag Link Tue Jul 30, 2013
Hi Carlos,

The fact of the matter is the real estate market is cyclical and destined to ups and downs. So you father's friend isn't providing you with earth shaking new information. As long as people will continue to need housing, there will be opportunities in real estate sales.

You are not crazy.....and as long as you remain committed and are not afraid of putting in the time, success will be yours. Regardless of RE trends.

Good luck and don't look back.

Bill
0 votes Thank Flag Link Sun Jun 30, 2013
Carlos,

Not to worry. You can make good money in real estate no matter if the market is going up or down. When you get your license, please contact me and maybe one of these times we can get together for lunch and discuss some ideas.

Thanks,

Andrew Belcher
Broker Lic. 01707173
80-587-6577
0 votes Thank Flag Link Sun Jun 30, 2013
Hi Judi,
please email or call me as I would have to write a couple of books on this subject after 25 years in the business. It is impossible for me to answer you in such brief format in Trulia. Please drop me an email and we can set up a time to go over some of your concerns.
I look forward to chatting with you sometime.
Respectfully yours,
Benik Hovsepian, M.B.A.
Broker
TEL 310-275-8888
http://www.LuxuryHomesBeverlyHills.com/
Top ranking in Google, Yahoo, Bing & MSN Worldwide
Real Estate Services Since 1988
DRE 00979941
0 votes Thank Flag Link Fri Jun 28, 2013
I started in Real Estate when the market collapsed and have built an extremely successful career--far exceeding what I had been paid my last year as a CEO for a large healthcare organization. It is not for the faint of heart and if you are ""scared" before even putting your big toe in the Real Estate world...it may not be for you. But only YOU can decide that for yourself. Wishing you the very best in whatever you ultimately decide to do.
0 votes Thank Flag Link Thu Jun 27, 2013
Are you CRAZY?
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Are you SCARED?
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Are you capable of making up your own mind or do you need to have others whispering into your ear?
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"My people perish because of lack of vision," is a quote from a book that has stood the test of time.
What is your vision?
What is this 'Real Estate Dream' to which you refer?
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Carlos, as a real estate professional you have decided to become a small business owner. It will be your business! If it succeeds...it will be because of you. If it fails...there's no place to hide.
What exactly is your real estate business plan? A business plan, not school, is the first step in defining your business.
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When you have no plan, the whispers and murmurs of others will derail your success.
As Ron stated, it simply does not matter which direction the market goes, folks will still be sleeping under roofs covering the house they own or rent. Your business plan will reveal how you intend to help all 300 million + people solve their housing needs.
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You HAVE reason to be SCARED.
The reason, however, has nothing to do with the real estate market.
It time for you to gird yourself with courage and call a few seasoned real estaet pros. Buy the coffee and cheese danish at Panera Bread and share your business plan...you know, that idea that crossed your brain before you plunked down the money to pay for your real school. Have these pros shed some light, from their experience, regarding the size of your market, and the difficulties you will need to overcome and the hazards to avoid. The business you are choosing to enter has unimaginable ways to succeed. Each and every way was preceeded by someone who saw what others did not.
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"Without a vision my people perish."
With a vision, people are able to place one step before the other, ignore the roaring lion and stay steadfast with their commitment to enter that vision.
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If you think 'dream smasher' is the guru to success......this is the kind of person you want to be.....buy him a coffee and cheese danish....and press forward with...."How shall I start?" You very best best is to walk in the light of YOUR vision and with the integrity to face your fears and prevail over them.
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You will be in the company of many, many, many other real estate professionals who have done exactly that, often without realizing they have done so.

Best of success to you Carlos.
0 votes Thank Flag Link Tue Jun 25, 2013
Are up giving up a two hundred thousand a year job to get into real estate???

"your dad's wealthy friend" -- ask him if he has a job for you.

so your dad's friend is investing but he expect the market to go down???

"...without taking safety precautions" -- like what?? does he want you to hire a bodyguard???

what are your alternatives???

if real estate doesn't work out or if it turns out you don't like it, move on to plan "b"
0 votes Thank Flag Link Tue Jun 25, 2013
Hi Carlos,

Welcome to Real Estate, one of the most challenging and rewarding professions.

Don't worry about the markets. Get the education you need to prosper in any market. As the late, great Jim Rohn once said, "We cannot control the wind, but we can control the set of our sail."

Regards,
Tom Moser
Keystone Realty USA
0 votes Thank Flag Link Tue Jun 25, 2013
Dear Carlos,
Well you took the test and you have your license, there is no reason to not to begin training in the field. The housing market is a lot like the stock market, it has ups and downs and right now we are up! Your Father's friend has an opinion, but so does everyone! One thing we all know, is that no one knows the future, and there are many who would dis-agree, even some top respected economists.
0 votes Thank Flag Link Tue Jun 25, 2013
People get into real estate during all types of markets. Some make it some don't, If this is what you want to do, you should try it. When you get your license, go to one of the big name companies who offer extensive training programs.

It does help to have a part time job while you get started to earn a bit of income while you're getting your business started.

Good Luck.
0 votes Thank Flag Link Mon Jun 24, 2013
Congratulations on taking the steps to get into real estate. I hope it is as fulfilling to you as it has been to me. No one knows what is going to happen including your Dad's friend ignore him. I bet he did not see the recession coming. Everyone is still on edge and not letting go because so many markets are still unstable. Home prices are starting to rise and interest rates are still very low so there is a market to work with. Just ignore comments like that keep your head up and push through all the negativity. Hope this helps and best of luck to you in your new career.
0 votes Thank Flag Link Mon Jun 24, 2013
Carlos,
Congratulations on taking steps to joining a great profession. You should partner with an experienced person and work your tail off for several years under their tutelage.

The market, will go up, then down, then up, then down... you can make money either way! Isn;t that fantastic!

Ron
0 votes Thank Flag Link Mon Jun 24, 2013
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