Hi guys, thinking about a career in realestate sales. In my mid 50s am a property investor and have a passion for real estate, what do you think, any advice would be great. thankyou
Hi NBARN, welcome to the forum ,a few things to consider , as a novice entering into becoming an agent , most agents are paid on commission only ,and others on a small wage with a bonus attached .Seasoned agents have a big list of clients and find it easy to draw in the buyers on new listings they acquire ,and after a few years they get known around town through constant advertising .In my case of dealing with agents over 15 years doing property deals you get to meet the good the bad and the ugly ,many drop out because its too hard to compete and or a long time between contracts so the money dries up very quickly , very different to a weekly wage that people are used to getting .Then there is the 10% of agents who just seem be born for this position , I know a few of them and they are very good and ethical at what they do and they make a fortune , but they do put in many hours a week day and night and at 7 days just to be up the top .Just a glimpse of the agents world from my eyes dealing with them , some might say it is different with there agents , but it does come down to how much effort the agents put into promoting themselves to obtaining your listing to create sales ! Hope this helps in someway ,Greg
Reno pretty much sums it up in a nutshell however if you only hold a certificate of registration, you can't be a contractor ie commission only sales person. You would need to do a course (probably Real Estate Institute in your state or Tafe/OTEN).
You are often paid on a debit/credit system ie earn a low base salary and commission which are then paid off against any commission earned. If you don't earn commissions through sales, you will find yourself out on your backside pretty quickly.
Thankyou Greg for the advice, my biggest concern is the income side of realestate sales because i have financial commitments to meet with my investments and i dont wish to risk those. I have spoken to some local agents who believe i would be suitable to work in that field and i should be able to achieve 100k per year,i dont know how many sales you would have to make to achieve that and what my running costs would be… eg. fuel, mobile phone ect. Theres always a good side and a bad side to most things in life and and Ive only heard the good side so i really appreciate your feedback it gives me food for thought regards NOEL
Thankyou for your comments Scott, I am certainly reading between the lines and welcome your views as well as Gregs. If i didnt have financial commitments i would jump in head first and have a real crack , because i believe i can be successfull in this field but my financial position is my concern. thanks again Scott regard Noel
Hi Noel take into account it would be a slow start at first because you have to obtain your own listings which gives you sales, if you have got commitments towards your investments I would be very weary about stepping out to a new venture if you need that cash flow each week , I also have been told I would do really well in real estate sales , but I much prefer this side of the fence doing my own deals etc , Greg
Hi Greg , thanks again for the advice. My income is important at the moment and i cant afford to go backwards . Currently i need to build my equity position and am educating myself in the correct process to achieve a profitable reno. Only have a small amount of cash and will have to go regional. do you specialize in this field and if so ca n i shoot an email of to you to ask some questions regard Noel
Hi Noel ,yes I do specialise in renos (hence my reno101 name ) I buy Reno and flip them , but I never just jump in , every Reno I do my numbers before I purchase them , it's about maximum profit ,what regional area are you looking at to doing a Reno ? , shot me an email , [email protected] , Greg
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