Real Estate Agents?

[TXMazdaSpeeder]

I'm toying with the idea of getting my real estate liscence here in oklahoma. It looks like im going to be living here for awhile and besides texas and oklahoma are transferable. My mom used to be an agent and loved every minute of it but doesnt have the time to go to school for it now. (she was one in tennesee and they dont transfer to oklahoma.) I'm looking for a job that has a good paycheck and i can do for as long as i really need to (i plan on going back to college and finishing my 4 year degree but i need out of school for awhile.)

In short, if there are any agents on the forums please provide me with your personal pros and cons of the job and whether or not you think a 20 year old can be a capable agent.


Non-agent Members: if i was helpful, and knowledgable would you have a problem in buying a home from a 20 year old?

 

[AODfan]

My Dad is an agent for Century21, just little over a year I think. I mean you should be able to do it just as anyone, just learn what you are doing, dont expect to starting making money for the first couple to few years, you have to build up a rep and then you get your referals and repeats. Thats just my $.02

 

[TXMazdaSpeeder]

should i expect to make aboslutely nothing? or just not a whole hell of a lot? im guessing to not expect money to roll in but im expecting enough to be able to pay bills comfotably every month ($300 apartment, $230 car, $230 insurance< $100 or so for utiltities and food)

 

[Greg S]

I'd say that this probably isn't the best time to become an agent at least from the viewpoint of economics. The way I see real estate going this from this point out is that prices are going to flat line or drop and that will prevent most people from moving for a profit like they've been doing the last 4-5 years. Also with interest rates rising more people will be staying put for a while. You can still make money as an agent but you have to remember that you pay a percentage to the broker of whatever company you hang your name at and there are a lot of people who have gotten in to the business in the last few years so commission rates have gone down. Also when you start out it defenitely is not a steady income, you'll probably be lucky to sell 1-3 houses in the first year unless you are very good and lucky. If you are good and can stick it out you can make great money at it but you have to take time to build up a client list who is willing to refer you to their friends and family. I have only two people I would refer from the last 6 agents I have used, the last one I used for an investment flip on a condo, the one I used to sell it not the one I used to buy it, and my mother who used to be a broker and have her own agency, but she'e retired and not a broker any more. The other were able to show me houses but weren't inspiring enough to recommend and there are a lot of agents like that out there.