So, in my quest to earn a better living and achieve The American Dream (or something), I’m tossing around the idea of becoming a real estate agent/Realtor. I know that the two terms are not equal, but I’m just in the beginning stages of gathering information on the whole process. And I have some questions (mods, if this is in the wrong forum, please move it – it seemed like it might generate more anecdotes than is appropriate for GQ).
I know I have to take classes to get a license. Where do I take these classes? How much do they cost? How long would it take me to get my license if I’m also working full time?
Once I’m a real estate agent, what is involved in becoming a Realtor? How much does that cost, and how long does that take?
So I have my license. What then? Do I sign on right away with a real estate company? Do I just work out of my home, on a freelance basis?
I would go into this as a full-time job. As such, what kind of money might I be able to earn? How long before I’d get a paycheck? What kind of money would I regularly have to put out in the course of my business?
Overall, how much money might it take for me to get started? What’s a good way of getting started stably? – money is tight right now, and I’m the main breadwinner. We can’t really afford for me to have little or no income.
I know the answers to these questions will vary greatly by location and stuff – and I’ve made appointments to talk to some people in my area about this. But I’m too curious to wait until next week just to get an idea of what I might be in for if I decide to do this.
Ooooh, oooh, oooh! ::raises hand:: (I just got my license in December so I’m still pretty excited.)
OK, so I don’t know how much this will help since my experience is in NY, not WA, but here’s what it’s like out here.
You have to take a class and pass a state exam. (I’d search WA’s website to see what licensing law is there.) In NY there are salespeople - what I am - and brokers. You can’t become a broker - and thus work for yourself - withough first being a salesperson. Salespeople must work for licensed brokers, and salespeople must work for at least a year before becoming a broker. Again, this may be totally different in WA but those are the rules in NY.
REALTORS are members of the National Association of REALTORS. Yes, for some reason they feel the need to always capitalize the word REALTORS. <shrug>
I don’t know the answers to a lot of the other questions since I do market research and other info management type stuff for my company and don’t actually sell. A different option to consider if you have business experience is commercial real estate (the world I work in). The hours are better - generally 9 to 5 - where residential is nights and weekends, although which is “better” depends on your schedule. There are generally fewer deals in a year in commercial RE, but each one grosses more than a typical residential sale. Just another thought for you.
Yeah, I know – that’s why I didn’t use the terms interchangeably, and asked what more one has to learn/spend to become a Realtor instead of “just” a real estate agent.
taxi78cab, it took just one class? Wow! (hm, I don’t know if I should be excited that it was that uncomplicated, or if I should hereafter look at real estate agents with a bit more skepticism… )
It’s good to know that there is a 9-5 option – my husband is in theatre, so one of us already has a weird schedule. I don’t know if it would be easier if both of us did!
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