I want to leave my creative hustle and get into real estate. I love homes, I love people, I love neighborhoods and I don't know why I wouldn't leverage all of that into a possible career in it. But what else do you think is really important in being a good realtor? More importantly, what's a way I can get my license in the cheapest way possible? Not working with a lot of savings right now. And I'm sure it doesn't end with getting the license... would love if someone could give me a breakdown on how to get your foot in the door after you are licensed!

likefunny
Posting as :
works at
You are currently posting as works at

Are you looking to be a realtor? Or just a real estate investor? Both have their pro’s and con’s, but you should approach each route independently.

Being a realtor is largely who you know. You need to plan to make $0 in your first 1 to 2 years as a realtor. Most realtors are sourced via referrals, so if you’re a new realtor who hasn’t sold anything, you’ll be hard pressed to build up your book of business. What makes you different from any other realtor out there, especially in the current challenging interest rate environment? That’s the question you need to have an answer to… and “because I like people and I like neighborhoods” probably isn’t sufficient.

75% of realtors quit in the first 2 years. Your success rate will go up significantly if you can build a differentiating factor early in your business.

like

The cheapest way is whether you have any other credentials that let you waive in. For example, I’m a lawyer licensed to practice in New York and that alone lets me automatically get. Real estate brokers license in the state. I actually got it a few years ago, but never used it. It lapsed, but I could get it again by filling out paperwork and paying a filing fee. I got it to be able to clawback half of a commission on a property one of my companies sold.

like

Don’t leave your job! It’s nothing like on tv. Get your license & hopefully you can bring a network of ppl with you, Depends on your state as well. Follow YouTube channels of realtors in your state & book a coaching call.

like

It really is a people-first business, and your love for homes, people, and neighborhoods will serve you well. Beyond that passion, some of the most important qualities for a good realtor are strong communication, active listening, negotiation, patience, problem-solving, and a solid understanding of your local market. Tech skills are also becoming more important, especially for marketing and managing listings online

Definitely don't quit your day job while getting your license. Unless you are connected with a network or know a few builders and developers that will give you exclusive rights to sell, it will take some time to get established. Even then, it's not a guarantee. But you can minimize risk by joining Redfin or Zillow, something that has its own selling and marketing platform. Their structure is set up differently as well.

Related Posts

likehelpful

Mid-level associate at a mid-size regional insurance defense firm practicing coverage litigation. Salary is capped b/c my firm only does I.D./coverage and has no direct-hire comm clients. Second round of interviews with a comm lit boutique where I would be the only associate with 5 partners. Other than partner track, salary/benefits, and switching from coverage to general comm lit, what qualities of the move should I be thinking about as I weigh my options? I've never worked at another firm.

like

3 fan art images... 8 character close up and a 10pg comic in blender 1 a month. While creating assets to sell and posting. And writing and getting certifications. MERRY HOLIDAYS AND HAPPY NEW YEAR.

like

My employer is giving me a federal disaster relief payment. The IRS Code 139 indicates that individuals will not be required to account for actual expenses to qualify for the exclusion... is there anything on my end that I should keep track of? Did anyone else’s employer do the same?

like

*** CFP Prep Materials ***
Is anyone interested in purchasing CFP prep materials? I have Dalton study materials including their course books, their review study books as well as their flash cards.

like

Just finished The Vanishing Half... any book recommendations for the holiday break?

Post Photo
like

Yasss to whoever started this bowl!!! Let’s do a meetup next week!

like

Any audit folks at midsize and up firms (experienced senior and above only) looking for a role in accounting advisory/consulting at a small firm <100 people (completely remote), reach out to me. Busy season hours are approx 45/week. Comp starts around $105k

like

What should be the salary of 12yrs experienced in UNIX Linux and having experience in Ansible Automation Shell Scripting and with Lead Systems Administrator designation?

like

Can we open New Salary bank account in Optum for lateral? Or its mandatory to provide last company's salary account details and continue with same bank?

like

I was hospitalized two days ago because I have hyperacidity due to stress. I agree I have problems with coping with my stress. What should I do now?

Any one has any clue about Syndigo, thier product, wlb , culture, couldn't find much online.
Any information would be appreciated.

Person on my ATL to SFO last week was wearing a full construction respirator with a surgical mask across the front. (Like in photo, I had to photoshop it together because I couldn't get a pic on the plane)

Like... why?

Post Photo
funnylike

I am from PwC AC. I am interested in an opportunity in PwC India. Can I apply for it externally? PwC India PwC

like
Post Gif
like

Oh the truth...

Post Photo
likefunnyupliftingsmart
like

Any openings at ZS Associates for Project Management profile?

JPMorgan Chase is sending me mails regarding payroll status update. I just got offer some days back. I have many days left to serve notice. Should I update these details even before joining?
Will anything happen if I don't do it now ?JPMorgan Chase

like

Additional Posts in The Real Estate Bowl

I'm early in my career, managed to save $30K to invest, and want to get my hands dirty with a rental property without too much risk (e.g. no HML/flipping). It sounds like that's a tall order in the NY/CT area given the prices, not to mention whether I'd be able to get a mortgage on anything below $100K, but I figure I'll give it a shot anyway. Any advice on what you might do in my position? Am I being crazy with this idea?

like

Any good HELOC recommendations?

Ideally 90% LTV, minimal closing costs, desktop appraisal.

like

I’m planning on getting my real estate license this spring! My biggest hesitation is that I currently live downtown Chicago and do not own a car. I really do not want to buy or lease a car as the area I live in requires a garage spot to park. Is it realistic to believe that I can be a real estate agent in Chicago if I rely on Uber/CTA?!

like

Is it legal to collect the rent in a separate LLC even though rental property is not owned by the same LLC?

like

Any potential flags/benefits for dual agency? My agent and the seller's agent work for the same company.

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

I am wanting to start investing in real estate in the new year… I’m using this month to read up on it and familiarize myself with it. I am a true beginner and wanted to ask for any tips, tricks, advice, books, videos, magazines, podcasts, etc to start? Please let me know!

like

Who has done FSBO? Thinking of doing it for 2 of my houses that I’m selling in the spring time.

like

Got a letter of default and acceleration notice from bank who repurchased my mortgage due to what they thought was mortgage fraud but wasn’t. I’m contacting a lawyer but has anyone gone through this? I know they want it off their books and suggesting I refinance but my rate will increase and they’re demanding legal fees too

like

Anyone sell to Zillow? Got an amazing offer from them, but naturally my floor decided to start deforming right before inspection. No water damage - I can get someone out here to fix it ASAP, but wondering if it’s worth the hassle. Mostly worries inspector will think there’s water or foundation issues

like

Bought a 300k end unit townhouse in Atlanta, 14 months ago with 10% down (3.65% interest rate). Prices in subdivision have been increasing over that period. This month 2 non-end units listed for 330k and sold right away. The opposite end unit on my 5 unit building was listed for 340k and is currently pending. What is the best way to stop paying PMI since since I should be at 20% equity?

like

Hi guys! Looking to learn about real estate investing! I am a senior in college graduating with a degree in finance so I understand certain aspects, but am looking to learn more on my own about real estate specifically!

What books would you recommend I read?

like

For people who recently refinanced, bought or is in the process of buying a new home, what APR did you get?

like

Anyone got a loan with Guaranteed Rate? Started looking for a condo(Chicago) and keep seeing them pop up. Looks like they charge $1290 lender fee, but wanted to see if anyone had experience with them

like

Looking to buy a studio in NYC (~600k). How low should I go below asking price when making an offer (especially given that the price went down 5% two months ago)? I’m thinking 15% below asking. Location is okay, no view, and a month to month renter in place. Thoughts?

like

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

If you living currently in a home and looking to buy another home but plan to put only 10% on the new home, can I pay the remaining 10% after selling my existing home in 1-2 months .. and get the PMI

like

For those that built higher end homes, what kind of appliance budget did you have?

like

Hi - any good books recommendations for getting started on real estate investing?

like

Wanting to move from NYC to either Austin or Tampa. Open to hear the pros and cons.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal