How To... in Los Angeles>Question Details

Surfing,  in Los Angeles, CA

I have been an Appraiser for 10 years,I want to get out, the HVCC has killed my income.I want to become an agent. How hard is it to start over at 45?

Asked by Surfing, Los Angeles, CA Mon Dec 26, 2011

Help the community by answering this question:


JB Fung’s answer
Hi Surfing,

It is not hard to start over at 45 on a new career as a real estate agent if you have great PASSION for real estate and have a large sphere of influence who are financially qualified and are willing to work with you to buy or sell their home. Annette is right on with her answer, you have to have a defined business plan.

Here is the secret on how most new agents starting out in this business can end up having $100K in their bank acount at the end of their first year in business?

They start out with $200K in their bank account upon getting their real estate license.

If you have the passion and a know that this is not a get rich quick scheme, you will succeed.

All the best,
JB Fung | Director - Architectural Division
John Aaroe Group
8560 Sunset Blvd., 3rd Floor
West Hollywood, CA 90069
Tel: 323-315-7450 | Fax: 323-927-1650 | DRE# 01332492
Web Reference:
0 votes Thank Flag Link Tue Dec 27, 2011
Yes, I can see what is happening to the appraisers in my area. You are in a 'can't possibly win' situation. Changing careers is never easy or without some emotional trauma. I can say, you could not have picked a better time to join Americas most vital workforce. It is the knowledge, efforts and skills of real estate professionals and investors that will pull us out of the mess.

Doug has pointed out the most important piece of information you need to know. Real estate is the only business of which I am aware where participant 'back' in. They get a license and then ask, 'Now what?"

If you were opening a store you would know if you are going to specialize in selling sneakers or cupcakes. Next you would assess what is needed to successfully sell sneakers or cupcakes. Then you would determine the cost of supporting such a business. The cost to you for sneaker and cupcakes. How many customers per week would be needed to match those costs. How much you need each customer to spend. And exactly where are these customers are coming from and finally, how much do you need/want to make. What is the overreaching goal of your business?

How do you know who can help you if you don't know if you are selling cupcakes or sneakers?

The same is true for your real esate busienss. Define it! Failing to make such a determination will put you in the single family home market. Are you aware 95% of newly minted agents are out of business by the end of their second year? It is my opinion, the cause is they do not get the advise you are getting now. What these agents recieve is what is being parrotted so often...'Come to my brokerage."

Let's assume you did analyze the area market and identified selling two beach centric homes a year earns you twice the income of the agent who sells 25 'most often sold price point' homes each year. Ok, you say, let me do the beaches! The avereage price is? (3.2 Mill example) The number of solds per year is? (217 example)

What resources do you possess that will advance your business? If you have an extensive database of people you have servied, YOU ARE MILES AND MILES AHEAD OF THE GAME. These contacts may not live on the beach,,,but they know people who know people.'ve got a bit of a plan which as A WHOLE LOT MORE THAN THE 95% BEGIN WITH.

After a $120,00 education, I didn't walk away with one tool to build wealth. You see, I read the calssics,..War and Peach, Moby Dick, but unfortunately that big whale is not improve the quality of my life. I learned more in my first real estate boot camp then I did earning my 4 and 6 year degrees. Making yourself an expert in real estate is what will make you money! You become an expert by doing deals, not heating a seat. By taking ACTION rather than waiting for the 'perfect' to arrive.

1.When seeking advise from real estate agents, ask, "Can you receive compensation for bringing agents into your office?" I can not and I do not.
2. When talking to brokers, don't let the PPT infatuate you. Ask to see the numbers, the results agents are experinceing. Good training will result is measurable and exceptional results. Good training and 95% dropout does not compute in my world. Of these brokes ask the following:
a. # of agents in office
b. # of tranactions completed by office
c. average price point of each transaction
d. Average earnings per agent.

If D doesn't match your baseline cost, you need to be aware you are entering a 'go broke slowly' zone.
Now, after seeing the data, share with the broker your business vision and the tools you bring and your need to get to work, NOW!
If the broker is unable to reveal the strategy to get you to work NOW, find another broker.

Best of success to you and welcome aboard. You have endured a punishing situation for a long time. You deserve more.

Annette Lawrence
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
0 votes Thank Flag Link Tue Dec 27, 2011
Surfing, I started late (nearly 40) just at the very start of the downward spiral. It has to be a passion for you in my opinion.

I LOVE Real Estate! If you do not see it as a get-rich quick scheme and put money aside as others have suggested, get into a GREAT teaching office that offers a great mentor program and one that also embraces BOTH the basic marketing (person-to-person) as well as the new forms of marketing (online) you will do great, learning exactly what's needed to keep you making a great living in all types of markets.

You will already be able to offer more than most of your competition with your appraisal background. I wish you the best-best of luck!
0 votes Thank Flag Link Mon Dec 26, 2011
Keller Williams Realty is a great place to start your career as a Real Estate Agent. A great read - and a book provided to you when you join - is the Milionaire Real Estate Agent. Another would be a book by the name of Raving Fans.
Are you licensed as an agent?
Please contact me so I may assist you further in this venture.
My apologies with what has happened within the market causing a downward fluctuation in income with the appraiser business.
Judith Santillan
DRE 01898972
(323) 317-4134
0 votes Thank Flag Link Mon Dec 26, 2011
1. must have plan of action,
2. must have some money reserves to pay your bills and marketing expenses to start.
3. above all desire to succeed.

Book: "Up and running in 30 days" - not the best book but something you can start with.
Support: BROKER with all the gadgets like office manager, tc, etc.

I believe you can make it - Do you believe it?

Doug Perez
0 votes Thank Flag Link Mon Dec 26, 2011
Also, consider Coldwell Banker, they are great and have wonderful training as well as mentors to assist you while you learn how to do the transactions. We also dominate over the competition with an almost 38% market share in most Westside locations. Feel free to call me anytime.

Have a great day.
Heather Paul, Realtor
Coldwell Banker
0 votes Thank Flag Link Mon Dec 26, 2011
Hello Surfing, good news for you is the average licensed real estate agent is over 50. I would recommend to have some income set aside to help market yourself and hold you while you build yourself up, but there is tons of opportunities. Real Estate is a market and has it's ups and downs, the ones that last in the business operate their real estate as a business. I would go on DRE and search education providers and start working on your classes, then study and take your test.

Good luck and much success to you!
Heather Paul, Realtor
Coldwell Banker
0 votes Thank Flag Link Mon Dec 26, 2011
Hi --
45 is the perfect age to make a career switch. My office, a Keller Williams office, has put together a program for individuals who wish to become agents. I work in the Larchmont office which is in the middle of Los Angeles. I, personally, work all parts of LA, and I highly recommend my office. It's just great. I wish it were th4e firest office I had ever joined. In order sto become an agetn, you need to take a course which will give you the green light to sit the state exam. Then, I believe, you'll need to take a couple more courses. The real estate school at my office will begin in January. I became an agent at about 45. I was a language teacher for 23 years prior to this career with no contacts and absolutely no idea of what it meant to be a Realtor. You've got a great deal of know how from your appraisal business. If you call me (323) 219-4480 or email me, I can talk to you about it and about my office (a really great office) and about test taking (as I was a teacher for so many years), and about my own business, etc.

Good luck!
I hope to hear from you!
Lynn leGlaire
0 votes Thank Flag Link Mon Dec 26, 2011
Real estate is a flexible field. My office has many new agents come as their first job, and many come from other professions. With your background, you'll be ahead of the game

For employment opportunities and training, contact me

0 votes Thank Flag Link Mon Dec 26, 2011
You have ten years worth of contacts, and experience. It shouldn't be that hard at all. You have a unique perspective to offer your future clients and certainly can add value to their transactions. Be confident in your transition to a different seat at the same table. Now if you were going to start over as a neurosurgeon you may have reason for apprehension. Be bold, be brave and go knock it out of the park!
0 votes Thank Flag Link Mon Dec 26, 2011
I would be happy to show you the ropes.

I need strong agents in the LA area with professional real estate backgrounds.

Call me at 310-741-7179 or email me
Web Reference:
0 votes Thank Flag Link Mon Dec 26, 2011
Its not hard just find a company and person you like to work with and learn from them. I would work with someone who can teach you the ropes right away..
0 votes Thank Flag Link Mon Dec 26, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer