Home Selling in Tampa>Question Details

Ryan, Other/Just Looking in Tampa, FL

Is it really a good time to enter the Real Estate field?

Asked by Ryan, Tampa, FL Tue Feb 3, 2009

I am a recent college graduate from NC, and I have just relocated to Tampa. I have always been interested in Real Estate, and I am considering getting my license. With the economy so crazy, is this a terrible time to enter this career field? And other than getting my license what are the necessary steps I'd need to take to make it my career? Thank you for your help!

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21
No it is not, it is very complicated right now laws are changing, it is difficult to sell homes, Buyers are having trouble getting financing.

I am not trying to discourage you but to prepare you, spend a lot of time in forums like this asking questions. Before you hand out one card go to a homebuyer class, learn about FHA and VA, Look at Dunes profile go through most links he has posted.

Attend a couple of classes through NAR, take the mortgage broker class just so you know the laws on the mortgage side. Just to start check back later...
2 votes Thank Flag Link Tue Feb 3, 2009
Ryan,

Knowledge is power..... a genuine committment to learning and being the expert in your market will help you find the success you are looking for.

On today's market...this is an opportunity to evaluate marketing plans and beef up approaches that are working as well as identify aspects that are not producing and eliminating them. For a new person, it's a chance to benefit from the wisdom of others.

Good luck
1 vote Thank Flag Link Tue Feb 3, 2009
Its a great time if you like Pain: and lots of it. - By ruff count about 50% to 60% of the agents I have known since 2006 have gone on to other things. When I was in the Military, when you saw a bunch of folks runnning in one direction, you joined them; rather than to stick around to find out what they were running from - almost always a bad meeting.
1 vote Thank Flag Link Tue Feb 3, 2009
I think his question has been answered as he asked it over five years ago.
0 votes Thank Flag Link Wed May 21, 2014
I think his question has been answered as he asked it over five years ago.
0 votes Thank Flag Link Wed May 21, 2014
I think real estate is a great career. If you like sales and working with people, its great. Its never the same and there's always something to learn. The best piece of advice I can give you is that once you get licensed find yourself a mentor agent who can help train you. Not show you a couple things and let you fend for yourself. Find someone who will be willing to give you the time and can teach you how to work in real estate. Because unfortunately, the pre-licensing classes don't do more than teach you how to take a test...
0 votes Thank Flag Link Wed May 21, 2014
Hi Ryan,
Congratulations on getting your degree. No, it is not a terrible time to get into the market but this is not a walk in the park. Real Estate is a tough business so be prepared. The reality is there are always people moving so you will always have buyers and sellers in any market. The question is will you get your share of the market to sustain a good living. Here's my suggestion...
While working on getting your license start interviewing with various real estate companies. Don't be fooled by companies offering so called leads and think you can sit back and business will just come to you.
There are three basic business models with Real Estate companies, which are your independent model, dependant model and your interdependent model. You should pick the model that makes the most sense to you.
One of the most important steps is TRAINING. Yes, training is key to a successful career. You need to learn how to lead generate, learn scripts and objection handling, contracts and paperwork, time management, etc...
My advice to you would be consider being a buyer agent for an existing team that can give you the one on one training you will need to becoming a top real estate agent.

Good Luck!
0 votes Thank Flag Link Thu Aug 20, 2009
Can't resist commenting.... I read an article (I think it was in NARs Realtor magazine) that compared the income of Realtors at various education levels and what was very interesting to me was that the level of education was actually inversely related to the income level! So an agent with a HS Diploma would earn more than one with a Bachelors, a Masters Degreed Realtor earns even less and a forget about being a Realtor if you're a PhD! lol....

I think now may be an opportune time to become a Realtor as many Realtors have left the business because of the drastically reduced income yet still having the same fixed costs or actually higher advertising costs because listings take a year to sell rather than a month.

Unfortunately the Realtors are at the mercy of their Realtor boards to pay excessive fees to be able to access the Realtor mls system and get a lockbox key to show listings. Someday Realtors will band together to unite under one Florida Realtor Board and substantially reduce those fees. There's no reason with the technology available today not to have one MLS system throughout the entire state of Florida and possibly the entire US. It would give the Realtors more bargaining power with vendors providing MLS technology and lockboxes.... hey.... maybe Florida Realtors should "unionize"!

Good luck with your career decision. Just prepared to be without a paycheck for at least 6 months and have the upfront capital to get started. I would guess you would need about $1,500 cash to pay the state licensing, schooling, Realtor Board joining fees and annual fees, MLS fees, Lockbox fees.

Alma
0 votes Thank Flag Link Thu Aug 6, 2009
This business is FEE Intensive. There have been a lot of realtors leaving the business over the past year. Getting your license is great! Keeping it active and being active in the business is another. This is a business of keeping on top of technology and trends, and with the internet, those trends and technology changing at record pace, it is almost overwhelming. But, my husband and I love it. We live, eat and breathe this business.

You have no other paycheck. The perception of many in the public realm is that realtors are paid a salary or an hourly wage and then also earn a commission. The public also feels we are overpaid. They NEVER see the breakdown of the commission. They never see any of the bills that related to the sale on the realtor's side. The buyers and sellers only see the figures they have to pay on the HUD 1 Settlement Statement for a closing. The public has no clue on what it cost to advertise a property, or the time invested, and they do not care. Their perception is that we only work a few hours a day. They are not aware that this business travels with us, with the 'earbud' connected to your ear, the laptop in your car, the long hours in the office working on marketing pieces or networking with the other realtors, the drivetime for showings, the real estate signs that get stolen or run over, vandalized or storm damaged. Directional signage always comes up missing.

THE Plus sides of the business is that you are always meeting new people. No transaction is the same. You are always learning. You can be creative! You can try to set your own hours, but be prepared to lose some customers because you are not available. I have been around the real estate business my whole life, or since I was 3. My mom went into the biz in 1964 and started her own company in 1966. I have seen the ups and downs, and back in those days, it was difficult for a woman to be in business, or self employed.
0 votes Thank Flag Link Tue May 19, 2009
And it is for sure a college education does not make a good agent. A good agent is one that learns the craft of real estate. Seveal of best agents I know only have a High School education, yet they really know thier stuff.

Suggest you find an agent to pal around with for a few days, to see if it might suit you.
0 votes Thank Flag Link Tue Mar 10, 2009
Wanna be, show me the statistic that says : Most Realtors have a HS education
0 votes Thank Flag Link Tue Mar 10, 2009
John says:

"I guess, I am very wrong, Real Estate must be the perfect industry to enter -
you can read the papers -
most any day to see how for some years now
it has been expanding
and how well agents,
and Home owners
and banks
are doing.

we are the perfect Storm"

But, numbers and income of the "Pro"'s are going down. They are getting replaced by the internet which is easier for buyers to use.

Most Realtors have a HS education and make around $30,000.
0 votes Thank Flag Link Mon Mar 9, 2009
Ryan
Whether it's a buyer's market or a seller's market, it's always your market.
You should talk with some Realtors that are where you want to be in five years and see what they say.
0 votes Thank Flag Link Tue Feb 3, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
I guess, I am very wrong, Real Estate must be the perfect industry to enter -
you can read the papers -
most any day to see how for some years now
it has been expanding
and how well agents,
and Home owners
and banks
are doing.

we are the perfect Storm
0 votes Thank Flag Link Tue Feb 3, 2009
Ryan,

A great Broker can make all the difference. They motivate you, they teach you, they lead the office and they can keep you out of trouble. They should be energetic and tech savvy as well as ETHICAL. It's very important, because you will be learning from them and you need to learn from a good example. I have been fortunate to work for three incredible Brokers over my career and learned different things from each. Interview, talk with people, see how the other people in the office look (are they happy and busy or crabby and just playing solitaire?) Ideally, the office won't be full of agents b/c that generally means they aren't out showing property! *unless they had a sales meeting earlier* Talk with people and feel free to contact me by clicking my profile. I'll be happy to help you and put you in touch with people in Tampa.
0 votes Thank Flag Link Tue Feb 3, 2009
If you like hard work, spending quite a bit of time, continuously educating yourself, and if you believe in
"customer service" and if you can handle rejection, because there will be rejection, sellers who will not list with you but another agent, buyers who will look and look and look and then decide not to buy.... And more.

By recommendation is to find a good solid brokerage office, and make sure they give you all the details and costs that you will incur during the year, and within that brokerage company you must find someone who will sponsor you, an experienced agent who will basically teach you the ropes so to speak....

Getting the license I think is the easy part!!!!
Good luck to you.... And the difficult market and the economy at this time will not make it easier for you.
Edith
edithsellshomes@gmail.com
0 votes Thank Flag Link Tue Feb 3, 2009
Ryan,
Not sure if there is ever a good time to enter real estate.... The question truly is are you willing to take the "extra" steps needed to be successful or will you just join the 80% of agents who sit around and wait for something to happen??? You get out of this career what you put into it. The first step is to establish a business plan. You're a 1099 contracted employee and responsible for your own expenses etc... Hopefully you have some money put aside to start marketing etc.... The next step is to interview some agencies and figure if they are blowing smoke at you or being honest in what they provide you with in the way of help, computer and office space etc...
If you'd like to talk away from here you may contact me directly at (813) 849-8554 and I can possibly help avoid the true pitfalls and wasted money issues of start-up!
Mark Zabilowicz
http://www.Homes4Uintampa.com
0 votes Thank Flag Link Tue Feb 3, 2009
Know more about your market area than anyone else and be honest......
0 votes Thank Flag Link Tue Feb 3, 2009
Hi Ryan,

There is more to real estate than just getting your licence. That just satisfies the State. You will need to be mentored in order to learn the business. I hope you have savings in place to survive until you begin earning. Remember, this is your own business.

Call me and I will discuss this with you further if you like

Phil
Phil Fowler
Keller Williams Realty
5302 Henderson Blvd., Suite 300
Tampa FL 33609
813-401-8078
Phil@PhilFowler.com
Web Reference: http://www.PhilFowler.com
0 votes Thank Flag Link Tue Feb 3, 2009
REAL ESTATE CAREER got too love it! you need ability to create marketing plan generate business, it does not matter who your broker is knowing how obtain business. Although times are tough our office extremely business. GOOD LUCK.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Feb 3, 2009
It's a crazy time, but you will get out of Real Estate what you put into it, no matter what the market. If you're ready to work hard and learn fast, and if you have some savings to survive on (or generous parents) for about 6 months, I say GO FOR IT! Real Estate can be a very rewarding career. My advice would be to affiliate with a good, ethical broker whose office offers training. If they offer mentoring, even better. Use all the tools and training they offer, even if it means splitting commission with a more experienced agent on your first deals. I did that 10 years ago when I started and now I mentor new agents. If you have the stomach for it, it's a great career! Stay POSITIVE! And, if you'd like more info, feel free to contact me. I can put you in touch with agents in Tampa.
0 votes Thank Flag Link Tue Feb 3, 2009
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