1) Do not expect to make any money for 6 months, and very little money for your first year.
2) Expect to spend lots of money during your first six months, and lots more for your first year.
You are opening a business and you need to invest money without any return for a certain period of time. You also need to do this full time, without any expectation of making any real money for 1-2 years.
You cannot do this part time. Many people will tell you that you can, and many people will tout bogus examples of how they or someone they know started part time and were making fabulous money in 6 months. Total bull. 90% of all people who start real estate part time are gone in very short order. Real estate is more than a full time job. It's a way of life. It requires total commitment.
The biggest key as a newbie is to get mentally on board with the fact that you need $20,000 or so to get started and you will not make any real money for 1-2 years. Yet you have to look and act like a million bucks from Day 1.
Once you get past these hurdles, it's the best job ever invented! Call me if you like, there's so much to know that nobody will tell you in your interviews.
Tom Hinz http://www.shortsaletosell.com
If you enjoy the real estate market and have a time horizon that would allow you to get established, then it is a very interesting time to join.
The "formula" for each brokerage is a little different - some take a heftier chunk of your commission in exchange for office usage/support, with others you pay to use resources but keep more of your commission. When you are first starting out, you may want to consider the former, if they have good training/mentoring - Weichert is the brokerage I work for and I selected it for that very reason - the training is very good.
Good luck to you!
"Unwavering Commitment to Service"
Find success at http://www.feenick.com
If you think the house is great but the buyer simply â€œisnâ€™t feeling itâ€ you must support and move on to the next property no matter how exhausted or exhausting the buyer might be. They buyer will tell you where and what they want to buy you will negotiate well on their behalf, provide accurate market information and know the neighborhood.
Itâ€™s a tough business, good luck out there!