Is anyone a realtor?

[mackmama]

I'm thinking about becoming a realtor. I live in a HCOL area that is pretty saturated with realtors, but I have a lot of contacts in the area and think I could do well. The market here is very strong. For any realtors - do you like your job? Any tips on getting started? I am also wondering if it's possible to enter the field on a PT basis since I have a 3yo who is only in preschool 2 days per week. Thanks!

[khm]

I'm thinking about becoming a realtor. I live in a HCOL area that is pretty saturated with realtors, but I have a lot of contacts in the area and think I could do well. The market here is very strong. For any realtors - do you like your job? Any tips on getting started? I am also wondering if it's possible to enter the field on a PT basis since I have a 3yo who is only in preschool 2 days per week. Thanks!

I used to have my license but let it lapse, and now I work PT/contract for a busy realtor.

In my experience/market, no, it is not PT friendly. Closings are when they are based on everyone else's schedules. :) The realtor doesn't get to say when they can and cannot go to a closing.

Clients want info and showings at any time, with no notice. Saturday when you are at a soccer game, or 7 pm when you are trying to eat, or 3 pm when you need to get to preschool. Coordinating a closing/banking can be done from home / with the kids in tow though, as long as you have the model of kid that allows you to take calls.

I'd say your best bet is PTwise to get in with a larger realtor who has developed a "team" of realtors working with him/her, learn the ropes that way with set hours. We have a few biggies in our market that have a lot of support jobs where you'd get to learn a ton.

Or find a brokerage that is very friendly to mentorship so you'd have lots of people to work under while you are PT. My brokerage really wasn't good for this, though I wouldn't have gathered that from talking with them, they tooted their own horn that they were very team oriented, etc. But, you were in business FOR yourself and BY yourself, and that was that. PT wasn't really viable because there is no one to do that 2:45 closing if it isn't you. Your client is going to drop you the 2nd time you put them off because you can't take them to six showings from 4 pm to 7 pm. I was paying a *fortune* in fees to my brokerage, and for lots of daycare so I could be free "just in case". There was a lot more money going out than coming in!

I do know a couple gals that got their licenses when I did that have made a good go of it by pairing up. One is a mom to younger kids, one has an older teen. So, they are able to tag-team a lot of things, dividing up the weekends and evenings to try and fit it all in.

One thing that the veteran realtors I know say is that it is harder now. The stress levels are high, client expectations are huge. Closings are way way worse than they used to be and require a lot more involvement, though it is easing up here lately, so hopefully that's on the upswing.

Foreclosures are a nightmare from what I've been involved in, but a guy I know is doing great specializing in them! He has to be a glutton for punishment in my opinion, but he's very successful at it!

[Twoboos]

I agree with a lot of what khm said. I just renewed license but am not working right now. The market is VERY different than when I stopped around 2008. And many people wonder "why do I need a Realtor?" since pretty much every piece of info is available online, so you have to work twice as hard to prove your worth. Plus knowing what to do with that info is another matter.

Most people want to see homes on nights and weekends and won't be waiting on your "window" to be able to get to them - that could mean losing the perfect house. I have dragged my young kids with me for showings (working with close friends) and it's a giant PITA.

Plenty of people make it work because they have to. But it's really a LOT of work, it's not an easy $10k a couple times a month. Even when the market was good and mortgage co's were giving away money, deals were hard. I can't even imagine what it's like now!

I am thinking of partnering up with some agents doing open houses so there are two people on site at a time. A friend was basically attacked doing an open house in my very very safe town a few weeks ago, so that is a real danger to be aware of. She is fine but was shaken up and will understandably not do OHs alone anymore.

GL OP!

[Kestrel]

It's a tough job to get into. There are high costs involved; we pay several hundred dollars a month to belong to an office, $600 per year to be a Realtor, more $$$ monthly to be a member of the local MLS (multiple listing service), more $$$ monthly to have the access key. You must test and be licensed, a big initial cost, and then every other year continuing education requirements. You must have a "good enough" wardrobe and car, this varies widely by location.

On top of that, there are fees/insure that come out of each paycheck. There's no guarantee that the 100 hours you put in with that annoying client will EVER pay. You could work for months with someone, who decides to quit looking or work with someone else or move out of the area. The phone rings at ALL hours - I've made my DH limit 9am-9pm to be available, but he often takes calls at midnight (he's a night owl). And you're in independent contractor, so... no health plan/401K ect, plus many chose to become LLC (limited liability) with it's own set of fees, so that if a client was to sue, you don't loose your home/car/savings. It's a major jump for a newbie.
That being said, there are a lot of Realtors that have some kind of office help/assistant. If you're interested, that would be the way to start, in my opinion. You could see if you like the work before you jump in.

[Momit]

I agree with PPs about a Realtor not being the most part time/flexible/family friendly career. I have never been a Realtor but did work in the real estate industry. What about working in sales for a new home builder? The hours are more regular, however you do usually have to work weekends. And not sure part time would be an option.

Being an assistant for a Realtor may be your best bet.

[janine]

Great thread. In my town I always see realtor bios seem to indicate they were in another WOHM career and then became moms in the town (ie know it well - good marketing point) and now are realtors. I admit thinking oh maybe that is a good option when kids are in school (I'm currently WOHM full time), but reading this I see it is not like it may seem!