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Roelg6, Home Buyer in

I'm a new real estate agent, is there a non Realtor office in Chicago or around. I don't have the money to be a Realtor.

Asked by Roelg6, Thu Jun 21, 2012

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16
The dream of being a Realtor® is not for everyone. In our industry we suffer from unemployment and underemployment at levels which would make a sane person choose a different career path. We continue to encourage good people who really should not be in this industry for the hope of a someday 6 figure income. About 80% of Realtors® are just wasting their time in this industry and as we go forward with more paperwork, government regulation and flat fee commission schedules this industry will have the herd thinned just like the mortgage brokers. This business model will not look the same 10 years from now. Although it is the nice thing to do and the politically correct thing to do, encouraging people in this business who have little or no chance of success is morally wrong.
1 vote Thank Flag Link Fri Jun 22, 2012
My office Exit Strategy Realty is a part of an international brand that really cares about their agents and helps them grow. It's great for new agents because there are no desk fees, competitive splits, and residual bonus opportunities.

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.
0 votes Thank Flag Link Mon Jun 25, 2012
If you are serious you will find the money and go to a company in which you can get trained.
0 votes Thank Flag Link Fri Jun 22, 2012
I would recommend as much training as possible. Look for an office that offers a lot of training.
0 votes Thank Flag Link Fri Jun 22, 2012
Not sure if I have or want to have an answer to your question.

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!
0 votes Thank Flag Link Fri Jun 22, 2012
Who needs the MLS? how about that with in a year the IDX feeds may be severally limited to the non MLS web sites.

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."

Good Luck
0 votes Thank Flag Link Fri Jun 22, 2012
A growing number of agents in my area are dropping NAR membership and the right to call themselves a REALTOR(R). I've been told several times, "Who needs the MLS? I can list on Trulia, Zillow, etc. and everyone else's listings show up there thanks to syndication."
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.
0 votes Thank Flag Link Fri Jun 22, 2012
Interview, interview, interview companies until you find a good fit. Be honest with them. There are companies that will pay that for you and allow you to carry a balance that they will require reimbursement out of your checks down the road.

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.
0 votes Thank Flag Link Fri Jun 22, 2012
Thanks Scott, for the sobering voice in a confusing cacophony of voices.

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.
0 votes Thank Flag Link Fri Jun 22, 2012
Team up and find a niche.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri Jun 22, 2012
Your answer is to engage in a team environment.




Sohail A. Salahuddin | Broker Associate | Visionary
Innovative Property Consultants Team | Sales and Leasing
Jameson Sotheby’s International Realty
425 W. North Ave. | Chicago, IL 60610 

O: 312.929.1565 | C: 312.437.7799 | F: 847.805.6030
http://www.myagentsohail.com
"Extraordinary Service For Extraordinary Lives"
0 votes Thank Flag Link Fri Jun 22, 2012
You have some great answers here.

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!!!
Kawain Payne
0 votes Thank Flag Link Thu Jun 21, 2012
Go team up with an agent that can help you out. Shadow them and learn all you can. Maybe that would help you out.....
0 votes Thank Flag Link Thu Jun 21, 2012
If you don't have money to be a realtor you probably don't have a business plan or marketing plan either. Your best bet is to work for a successful agent as an assistant and see how it's done. You can also be a leasing agent or property manager if you want to go in that direction. Leasing and property management will get you a quick paycheck.
0 votes Thank Flag Link Thu Jun 21, 2012
If you plant to be a full time agent Find the Money and join a Realtor only office......................
It makes a difference
0 votes Thank Flag Link Thu Jun 21, 2012
Hello, Roel,

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!
0 votes Thank Flag Link Thu Jun 21, 2012
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