Related Posts
Pro
Community Builder
Pro
After 2 rounds of interview (1 hour each) , Deloitte usi hr is telling me that due to organisational restructuring the offers are on hold. Got a salary discussion call last Thrusday (no pre hire survey) . Last working day in a week. Any suggestions? Cloud Data engineer CBO unit Deloitte Deloitte USI
More Posts
Community Builder
Additional Posts in Consulting
Good or bad time to head out on parental leave?
Is January the longest month ever or what…?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Go in with eyes wide open and don’t look at it as a gift, you’re going to work hard to earn it. With that in mind, and your emergency fund in place, go for it. I’ve made several transitions and learned from them all. Your age can work for and against you. Social media is a huge part of it so build your own network online. Maybe start by shadowing her for a few months so it’s not as much a leap of faith. This is a tricky market so if you can be successful now, you’ll be in great shape.
I have always to do luxury real estate. Wish I had a family member who could walk the ropes with me and share their network. Given your age, your interest in real estate, and this family mentor- I would say give it a try. See how you do. Worst case scenario, the experience of selling real estate is never going to be wasted. Research on suitable exit opportunities right now, before jumping in, so you you can focus fully on the new job at hand with some peace of mind.
Chief
Be careful - very careful.
Chief
Why would they just give it away and not sell it or stay on as an "advisor" for a percentage or a set fee?
Chief
Smells scammy af
Not scammy they are just one of the most successful people in their region so there is a great chance my earnings would never touch theirs, but would be a great person to learn from. Just a classic real estate company that has been there for decades, not a new pyramid scheme type company.
I think Ive seen signs at intersections about realestate mentors seeking protégés.
Lol this is a close family friend, they don’t really do any marketing or social media just good at what they do and have built a good network of people who use them and refer them to wealthy friends
What do the do in real estate?
Buy and flip, hold rentals (short or long), developer, sell, etc.
Sounds like wholesaling which works well if u have a great network which it sounds like u are stepping into.. awesome opportunity, slow walk into and keep your day job until income is consistent
Did you buy their $30 eBook?
RE agents will be irrelevant very soon.
And network transition only works if you click with everyone, useless otherwise.
Chief
The main thing agents have a monopoly on is gated access to the MLS system, which they will guard with their lives. The non-MLS online listing companies have absolute trash data because they aren’t curated like MLS.
My father is an agent for one of the large residential brokerages. I agree that the industry has a lot of fat to cut, and a 6% combined commission to sell a house is steep. But the current series of alternatives are nowhere near ready to replace agents en masse.
Also, no argument that there are some complete trash agents. The person who used to cut my hair needed an entire decade before she could pass the licensing exam because the comical math was too complicated.
But for the average consumer, there is still a ton of value to be added by an agent. From knowing what inspection items are important v. which ones can slide, understanding how to properly price a house so that it doesn’t just sit on the market for 2 years, staging, etc..
One day they will get Ubered. But that’s a ways off.
I’ll take the opportunity if you want
Thank you!
Is he with like the Netflix show SUNSET (Oppenheimer Group) and has hot models for selling property in LA
I wish, not in a big city like that, nor are there any models involved, but who knows maybe if I take over one day I can change that😉 kidding
If you trust this person and have some money saved, give it a shot. Maybe you find that you love it and the comp is as expected, and you have a lifetime career.
In case one of those things ends up not as expected - leave your current job on good terms, and keep your network open and skills relevant in case you need to return.
Understand that in luxury real estate, most of your clients will be significantly older than you at 25, and may not see you as an equivalent to your mentor - even with a warm introduction.
Real estate is a obviously a career that has peaks and valleys with the housing market - but now is the time in your career/life to give it a shot.
Good luck, whatever you decide!
Yeah that all makes sense, I appreciate the info and the kind words! Will definitely keep all that in mind
No family? I say go for it
you have already made up your mind by the looks of your replies , you want affirmation or advise ?
Is their name Sam?
Small real estate company started about 50 years ago that specializes in luxury homes in their area
Who says you can’t go and keep your skills sharp if it falls through?
What’s with real estate people wanting to be mentors for other people? I have a few people I know on Facebook (who were also the dumbest people I went to school with) who are always posting this stuff.
This gets you in the door so they can sell you a “system” on how to make all this $$. One of those systems includes combing tax rolls then blasting out postcards/letters offering to buy people’s property. This also includes sending unsolicited text messages. They make $$ selling you the system
Pro
OP a real estate agent is a completely different job from real estate asset management. Your original post sounds like the latter. There’s literally nothing to lose from being an agent other than opportunity cost of time and money of your current/primary source of income. From what you’re saying this is a no brainer. I’ve been an agent for over a decade and the hardest part is high quality lead generation, which it sounds like your family friend solved for with brand equity in some concentrated unique market. Congrats on the golden spoon.
1. Do you actually want to do real estate, or are you just thinking this could be a good financial opportunity? If this (a network based sales career) isn't something you really want to do versus an expertise-based corporate career, maybe you should stop and rethink. Making 500k-1M a year is rare and hard to replicate. He can hand you a rolodex of his network, but he can't hand you the years of trusting relationships.
2. That being said, maybe you should try it. You're young, single, have some savings, and you sound ready for adventure. If things fail, you can go back to corporate, or go to business school for a reset or another pivot.
Ok everyone here is (rightfully) cynical and suspicious. But this is pretty normal with all the baby boomers about to retire who own their own business. Lots of articles and research on this and $ in it for the right people. I’ve got a friend who was in a similar spot with a luxury real estate offer and they took it up and are doing very well. They’re in a luxury market (Naples FL) and he’s making amazing $. It was a similar situation - baby boomer who wanted to retire and wanted to pass the business on to someone who would care. They also still get a cut as the founder but my friend takes 75%ish. Also saw this with another friend who took over a financial advisor practice and it’s a similar cut. Take it for what you will and always maintain a healthy skepticism!
They want you to take a slice of their pie away? Doubt this is worth your time. Also not great timing with current economic conditions.
It is a good family friend who is not far from retirement and would rather give their network to someone they know
There is very little “halo effect” of a real estate agent to their mentee. Even the #1 in a city/ region. It just doesn’t translate into mentee $$$s unless that mentor is actively involved in every deal.