However, I still highly recommend being a Realtor because the tools the MLS provides are invaluable. Market stats, closed comps, listing alerts etc. are all things customers expect when working with an agent. Plus, the associations provide great networking opportunities with your peers through groups like Women's Council of Realtors and Young Professionals Network.
As a newer agent myself, I definitely understand the need to be frugal, but there are ways to do that in the beginning and still be successful. I started off doing rentals, and continue to them because the time frame is much shorter than with a buyer or seller. That may be a good option for you to start off in first.
But just a little bit of advice, YOU as a person who just got the real estate license with no experience in the business really should be connected with an office that provides you with guidance and assistance in finding clients, you may want to have a mentor, i.e. a Realtor with many years of experience help you get your "feet wet" - when working with a mentor you will not only actually learn the business, but you may also get a potential buyer to work with, you may have a chance from time to time to sit at an inspection for another Realtor and get paid for it, or show properties when agents do not have time and they will pay you, and more than that many listing agents always look for an Agent to sit their Sunday open houses, during which you may just on occasion pick up a buyer, but most of all you will get to know Homes, find out what questions buyers will ask and what they want to know.
Make sure you work with a Realtor who will prepare you well for any of these tasks...
At the surface for many people our business seems soooo simple
show a home, write a contract and get paid
NOT LIKE THAT AT ALL..... lots to know, lots of expertise and experience required and details details details, and market knowledge.... start out slow and get help you will need it especially
in the beginning, and YOU owe the experience to your clients, they deserve the very BEST.
Good luck to you
Most sincerely yours,
Edith Karoline Jasser YourRealtor4Life! Working always in the very BEST interest of her clients, covering most if not all of the city of Chicago, all N and NW suburbs, the fine homes of the North Shore, and many of the W and SW suburbs as well.
with @Properties, with several offices in the city of Chicago, offices in Evanston, Winnetka, Highland Park and lake Forest, 30 Green Bay Rd, Winnetka, Il. 60093
EdithSellsHomes@gmail.com or EdithDoesItRight@yahoo.com (preferred)
or contact me via my website at http://www.tinyurl.com/MeetEdithHere, you can find out
about YourRealtor4Life! and her services, expertise & more
Have a most wonderful Day!
Or we as Realtors can limit what information we allow to go out through the IDX feeds.
I agree with John here:
"As a bright guy once said, "sometimes you need to separate what you can do from what you should do." Your license gives you the ability to do a deal, but without proper training and support - should you? Is this the best way to serve those who are trusting you with their biggest assett? Proper training and support is usually the difference between a NAR office and a non-NAR office."
I'd imagine the same is true in Greater Chicago. But you might want to ask yourself if you have the resources to enter the business at all, since NAR membership is really a drop in the bucket compared to the flood of other costs involved in being an agent. From phone bills to insurance to gas for your car, you'll find that about 50% of commission income goes to expenses anyway.
As a bright guy once said, "sometimes you need to separate what you can do from what you should do." Your license gives you the ability to do a deal, but without proper training and support - should you? Is this the best way to serve those who are trusting you with their biggest assett? Proper training and support is usually the difference between a NAR office and a non-NAR office.
You may also look for someone who is looking for a licensed assistant as that could get you a foot in the door of experience.
Best of luck to you.
Roel, what were you thinking? Every person to whom the thought of becoming the owner of their business actually had a clue what that business would look like. The sneaker store, the doggie hotel and juice bar owner all had a clue regarding who their customers were, where they were located, how they would reach them, how much the customer was willing to pay, the service of distinction they would offer, and how to calculate the potential income.
Most new businesses fail NOT due to competition, but because of self-sabotage. They failed to prepare properly. The failed to analyze. Often underfunded. Don't be a statistic.
Share with us the image of the real estate business you had in mind. You may have envisioned only a referral business, maybe you want to be totally immersed in the REO/Rehab/investor business...maybe you are wanting to be an investor using all those 'No Money Down' teasers seen on TV at 1 am.
Let us know your plan, and you can be better directed to the resources to make it happen in Chicago. Scott's voice of reason should not be ignored. 95% for real estate newbies never see their 2nd anniversary.
Sohail A. Salahuddin | Broker Associate | Visionary
Innovative Property Consultants Team | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.929.1565 | C: 312.437.7799 | F: 847.805.6030
"Extraordinary Service For Extraordinary Lives"
I would add, you should place your lic with a broker with an in office new agent trainig program. Get to know the busy agents in the office and ask them to allow you to hold open houses for their listings. This will give you access to possible buyers and prospects. Hang out at the office as much as you can, sometimes you will learn just from listening to the agents in the office interact. Try and make as many office meetigs as you can. Sometimes brokers will bring in industry leaders who provide free info on marketing, financing and market conditions to speak at the meetings.
Learn the forms, make sure you have a clear understanding of them.
Best of Luck to You!!!
If you're looking to keep your license while you earn money to stay as a Realtor, consider putting your license in holding.
CAR does that and if I'm not mistaken it's only $50-$75 for the year. This will enable to refer business and collect a referral fee.
Hope that helps!