Do you think I should renew my real estate license or drop it and why.
Are you a real estate agent? How difficult was it for you to get started? I've heard very few agents work while 75% just have real estate companies holding their licenses while they are inactive. Your comments please.
Answers:
my moms a real estate agent and its been really tough on her because my parents r getting divorced and the market has been really slow. shes with long and foster and since u have to pay ur rea estate bills and its easier f u sell houses which give u money to pay the bills, but with the doubling of foreclosures and prices its hard 4 her to pay the bills.
as for you, the cancelation or renewing of your lisncene is a hard decision, if u want to continue the business ur probabaly jst gonna have to work really hard until the market speeds up.
but if u don't want to wait, then canceling ur license is the best thing to do
Every time the real estate market went south it always turned back around again. Hang on to your license. It would be more difficult for you to get it back again when the market turns back around. If you can't survive on real estate sales right now, find something else to do in the mean time.
One out of 10 people who make their license end up actually to make money! It depends a lot on your skills as snake oil sales man/women. Most succesful agents are blonde and wher in their thirties, when they started. You are peddling a Product, worth 100$ (for a MLS listing) to the public, asking 7% of the house price, thats 35,000 on a 500,000 house.
Its not for everybody. It doesnt matter what the market is, the top 5% will always be the top 5%. You have to realize the top 5% are always going to make 90% of the money. The same in any sales job. Take a Loan Officer, A Car Salesman, A Realtor, A Copy Machine Sales Person. Take the top 5% of their sales team and put them in any other job. They will still be the top 5% of that job.
You can either sale or you cant. If you are worried about the market, maybe sales isnt the best job for you. When I started at 19 I was in the top 5% in less then a year. I just could sale. Not saying im better, it just came easily.
Im not trying to be a downer on this post, but you can make a good living, but you have to work really hard. You might like mortgages better, you dont make as much per mortgage but all your eggs arent in one basket. If you are working on 20 loans and lose 2 you really dont care. If you are working on 2 real estate deals and lose 1 you are dead.
Good Luck
*update*
Disagree with the snake oil comment. It is true there are alot out there. Those are the people in the top 20% that want to be in the top 5%. 99% of my business is referrals from past clients. The top 5% dont need a nice car, or have to be sleazy, we just tell the truth. Its the people that are trying to get up there that are sleazy.
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