I live in Austin and am thinking about being a broker. What do you guys think ? ------------------ "There are two players carrying the Rockets right now. Hakeem and Olajuwon." Isiah Thomas
I'm not a real estate agent and I don't play one on tv. But I think, in the most basic terms, as an agent you get a percentage of the cost of the house you sell as your fee. Think 5-6% of the cost of the house you are selling, so by selling a home that is $100,000 at 5% you'd make $5000 before taxes. Do that a couple of times a month and you'd do OK, theoretically, if you're an independant agent. I'm sure if you work for someone, they'll get a portion of what you sell, so take that into consideration. Also you'd have to consider your time, your wear and tear on your car, advertising, a website(?) your licenses, open houses on Sundays, driving all over the town you are working in and many other expenses and un-foreseen occurrances. Are you a people person? I know the real estate agents I've met, have nice cars and seem to do well. Anyone else out there have any info or advice? rH ------------------ *** THIS SPACE FOR LEASE ***
Rockhead's synopsis is reasonable except you are generally splitting that 5-6% commission with the other agent. there is generally one representing the seller and another representing the buyer. ------------------
I just started a program this year in real estate appraisal. Ask me again in ten months, after I'm finished and working. ------------------ My dream job is to be a Houston Rockets towel boy.
From personal experience, it can be really good goings or really bad. Almost never in the middle. My stepfather has been a real estate agent around Houston for the last 20+ years, while he always seemed to make at least something his business really didn't start picking up until about 3 years ago, and this was with him working long days week after week. Of course, now things could hardly be better. From what I know about the business, it seems like a game of chance. -Turbo
Well I'm in Austin, and it is a seller's market. I would be selling apartments to students and people who want to live in the area, so I don't anticipate it being very hard. The guy was pretty agressive on the phone, and I kinda like that. It's just something I feel I need to look into. I should get my license over Christmas break. Is the test hard ? btw, I do consider myself a people person. I've always been told I'm energetic and I'm also a waiter. Wish me luck !! ------------------ "There are two players carrying the Rockets right now. Hakeem and Olajuwon." Isiah Thomas
Oh, one perk about this job is that I will already have clients. He said I could make anywhere from 300 to 1000 per apartment leased. That isn't bad for a guy my age. ------------------ "There are two players carrying the Rockets right now. Hakeem and Olajuwon." Isiah Thomas
the most important thing you have to ask yourself is weather you feel comfortable lying. If you are dishonest you will do better business. if you take the high road, manny homeowners will chose someone else. what im saying is that ALL homes have their problems. if you help the owner and downplay those problems than you will sell/rent more places(ignorance is bliss). However if you are honest and help out the potential buyer/rentor, than you will get less sales, less leases, and anger more owners. your job is to satisfy your boss. your customer is satisfied if you get him/her top dollar for their house. they usually dont care what you have to do to get thenm that top dollar. the potential buyer isnt really your boss at all, they are clients, customers. back in the easrly 80s my father did realestate on the side. he told a potential home buyer of an existing termite problem in a house. the people didnt buy the house. so, the home owners sued my dad because he scared away a sale. It can get pretty scary in there if you dont decide who you work for in the begining. i sugggest being a good guy, and be honest. also, expect to make no more than 2.5% unless you are the relestate agent, and broker. also your agency will take a cut. i think you can get close to 6% if you cover everything, but as an entry level player, you should expect 2.2% *PEACE ------------------ Hanta-Force Paintball http://www.hanta-force.com
gr8-1 Just a thought... Most people view real-estate brokers as just a few steps above lawyers. ------------------ 'Deeds, not words, shall speak me.'
mc mark, but that would still put me above insurance agents and Republicans right ? Besides, it's all about the benjamins (even though I am a die hard Democrat). ------------------ "There are two players carrying the Rockets right now. Hakeem and Olajuwon." Isiah Thomas
LOL!!! And you've got to remember! The comments I made are coming from an actor! ------------------ 'Deeds, not words, shall speak me.' [This message has been edited by mc mark (edited December 07, 2000).]
mc mark... you are just about right with your comment "Most people view real-estate brokers as just a few steps above lawyers." I hate to say it, but that's pretty dead on... i can see how some can be slimy and conniving... rH ------------------ *** THIS SPACE FOR LEASE ***
One other cost to be concerned about if you are considering becoming what is termed "independent"-the self employment tax. Your net profit will be subject to normal income tax as well as FICA and Medicare taxes. These taxes amount to 15.3%. Of course, as an employee, you already pay half of this, but the other half is significant and should be factored in to your decision. You should find out if you will indeed be independent or an employee. The other thing I've thought about is that you'd have time constraints on you unlike a normal 9-5 job. As rockHEAD already mentioned-forget your weekends. Is that a lifestyle that you're ok with? Good luck with your decision. [This message has been edited by Redglare (edited December 09, 2000).]
Well, I have one more year before I graduate, so I'll do it for at least that long. I do have reservations about it though. I talked to one guy who said that you even had to fight off fellow real-estate agents in your own office for your own clients. Thus, it is very important you close the deal asap. I never thought of myself as a 9-5 guy, but after I graduate, I may "sell-out" and become a businessman. I will have a Sociology bachelor with a business minor, is that enough to get a business job ? Thanks for the replies. ------------------ "I am" is reportedly the shortest sentence in the English language. Could it be that "I do" is the longest sentence ?
