Expert: Jessica Bryan - 5/6/2007

Question
Hi, I was interested in changing professions and becoming a realtor.  Could you let me know some guidelines aobut entering the profession.  Can I just go register for a course at a community college and then get my license and then apply for a job with a firm?  Thanks so much.  Jo

Answer
Dear Jo;
Quite simply, taking the course and getting your license is the fast answer and probably not a bad one.  It doesn't hurt to get your license and is relatively quick and inexpensive. Having said that though, to be a success and make real estate your profession you should plan on working hard for at least a year to establish your business and knowledge.  Yes, applying for a job with a firm is the answer.  It will also serve to assist you with orientations and quick start classes that will help you understand the market,what to do and how to do it.  I tell people who are thinking about starting out that they should have at least 6 months savings to sustain them while establishing themselves.  In addition, you will need to spend money on cards, flyers, ads, and web site promotion to get your name out there.  Stationary, supplies, office equipment and real estate paraphernalia are also a requirement.  Membership in professional organizations and licensing fees are a requirement as well.  The other costs are: professional attire and a good car.  I calculate these things to be about $20,000 or more.  So; before rushing into this, you should be aware of how the real estate market is in your area and how many successful agents there are.  Only about 5% of all real estate agents make it to the top the rest scratch out a meager living.  I would suggest talking to some of the more successful real estate agents in your area and seeing how they feel about the profession and how difficult it is.  In some places it is easier than in others to make a very good and successful living.

Good luck and best wishes,
Jessica Bryan