Real Estate Agents - Anyone have this career?

Ignatius · Aug 11, 2017

Fwiw I'm IT for a decently sized broker with about ~600 agents. Palum is dead on with:

Palum said:
My opinion is you need to have at least 2 of:

1) Connections
2) Extensive Knowledge of Real Estate
3) Photogenic female form

The agents I work with are either really, really, ridiculously good looking females (and a few males, some gay, some not), super connected, or former members of the first group that have been doing this so long they might not be part of that group, but they gained a shit ton of name recognition and knowledge.

Branding is 98% of the job if you want to get into the big time money.

Leadsalad · Aug 11, 2017

Xarpolis said:
I've been listening to a few audio books, and they're fascinating. I know this career is 100% about marketing, even if you're in the industry forever. You're reaching out to x many people who have never heard of you, just to give them a name to think about if something ever happens.

Branding is a strange thing. Shoes, Beer, Soda, Cigarettes... The typical person can think of 7 brands. That's it, even if you know more, you can really only think of 7. With realtors, you can MAYBE think of 2. So you need to invest a fair amount of money into marketing for the sole purpose of making your name one of the top two people think of. A good idea is to offer small gifts ($25 gift cards) for ANY referral you receive. If it turns out to be a sale or not, always give a gift. Truthfully, a real estate agent isn't legally allowed to give referral commissions to anyone that doesn't already have a license. So you can bypass this by giving them to everyone for anything. But the cap is set at $25. And it can't be cash, just a gift card. Or movie tickets. Shit like that.

So your job as a realtor is to put your name in the head of others that don't know you.
Once you build up a base of people that you know (phone or in person), they go into a different category. A different style of marketing. It's strange, but it's true. This business is entirely about doing cold calls and being able to take rejection.

I mean, if you want to just give me $25 / day I'll take your money.

If you have it all figured out, go and do it.

Control · Aug 11, 2017

Xarpolis said:
This business is entirely about doing cold calls and being able to take rejection.

Entirely about cold calls? How many cold calls have you ever gotten that resulted in you having a great deal of trust in the caller?

Xarpolis · Aug 11, 2017

When I said cold calls, I don't technically mean getting on the phone and calling strangers. "Hi, want to sell your house?" Not at all, but it does mean putting out tons of mailers. Targeting the general population. People that you don't know, and making it catchy. You need to get your name in people's heads. And no, I don't have it all figured out. Far from it, but I still understand more than people saying "it's too hard". You need to put yourself out there. If you're not comfortable with that, this isn't a job for you. But if you're fine and are willing to work for people, then work you shall.

jayrebb · Aug 12, 2017

Control said:
Most people don't want a job doing marketing, or they'd just get a job doing marketing. As a new RE agent who doesn't want to suck, you'll be doing a full time marketing job on top of everything else, and you'll probably be doing it literally for free for a year or two until you make enough connections to starting actually bringing in clients.

Well said, and I wanted to hit on this. That's 9-5 availability required during this stage right there, you are going to need to be available to your telephone at all of those hours if you are doing serious marketing.

You won't be chained to an office though, if that was your goal. You are basically working in Sales and Marketing. Whether you are doing buying/selling, it doesn't matter, its essentially a sales job with flex once you make it and potentially more money.

Most people don't realize what Sales entails, or they would have tried Sales before they went to work at that shitty dead end job. Sales is where you go when you want to hustle. Let's just say some people don't have the genetics for Sales. It has nothing to do with physical appearance.

It seems like you do have what it takes for Sales though. I think you would make a good fit for real estate.

Xarpolis

Omi43221 · Aug 18, 2017

I just want to say I think there is definitely opportunity there to add more value that what is generally added.Second the market seems ripe to undercut normal realtor prices. Real Estate market is swimming with slime.

Crone · Aug 18, 2017

Xarpolis You sound like a dude that read a few pages off a Google search, saw the money, got a twinkle in your eye, and now are regurgitating those Google searches here on the forums, exclaiming that you know all it, but to be sure, not all, but it's ok guys, because I know! When in reality you haven't been real with yourself in realizing that if you can't handle, and lose a job over some petty scheduling shit, there's not a chance in hell you are going to make it in a job that literally all you do is heed to the beck and call of your clients.

Reality check bro. You've said multiple times in this thread and others that sales is something you enjoy, and are good at. This job, as people have said, is 90% marketing, and not the actual sale. But after a year, and I know you've been in talks with myself and others on the forums about jobs, why all of a sudden is a real estate agent what you picked? I suspect it's because of what I said above, and in my opinion, it's not for you.

I don't want to be all doom and gloom. I apologize, and maybe I'm projecting my own feelings if I were going through the same thing onto the situation, and you have a much better handle on it that it seems. I hope something works out, even if it isn't this.

Btw, how come you don't sell cars?

Vanderhoof · Aug 18, 2017

Or just go to school for 4 semesters and be a nurse.

Xarpolis · Aug 18, 2017

Selling cars is a BRUTAL job getting into. If you think real estate takes time, selling cars takes 2-3x as much. You're sitting in a car dealer ALL DAY AND NIGHT, mostly waiting for people to walk in the door. Eventually you'll get a clientèle, but waiting for that point is a slow and arduous process. I've thought about doing that in the past, but I don't want to live inside of a car dealer all day long. I'd much rather drive around and talk to people.

With selling houses, the bigger money comes with listing properties. Mainly because you don't work anywhere near as hard listing a house for sale as you do taking people around to many different houses to sell them. It's nice in that regard, but getting people to trust you listing their house will take some time. You need to start somewhere. This is where marketing comes into play. If you can market yourself well enough (yes, spending your own money), you'll "touch" enough people that eventually someone will be in the market to buy or sell a house and your name will be on their mind. That's what real estate is all about. Granted, once you've done an exquisite job to a few customers, word of mouth will come into play. They'll know that you bend over backwards to care for them. Get them the most money for their property, or save them the most money for buying a new place. And that emotion they feel with you will spread to others.

I officially take the state test on Friday the 1st. After that (assuming I don't fail), I will have my real estate license, and can begin a new career. It's going to take a while to get started. And that means zero income, but I'm not worried. If I end up helping a client buy or sell an $800,000 house (the median single family house value out here), that's $12,000 commission for me. Yes, taxes will come out of that, as well as all of the promotional materials I've spent up until that point, but it's going to propel me to my next closing. And my next. So on and so fourth. I just need to keep my name out there. If I can help someone sell an $800,000 house, then buy another $800,000 house, that's $24,000 commission for me. This is why real estate is so lucrative. You just HAVE to be willing to work at it. This is a career that, more than almost any other, rewards people that work hard. And I'm ready to do that.

Maybe 6 months from now if I still haven't done anything, I'll re-evaluate, but you need to start somewhere. And I'm ready to start right now. And I'm looking forward to the future.

Aychamo BanBan · Aug 20, 2017

Xarpolis said:
Selling cars is a BRUTAL job getting into. If you think real estate takes time, selling cars takes 2-3x as much. You're sitting in a car dealer ALL DAY AND NIGHT, mostly waiting for people to walk in the door. Eventually you'll get a clientèle, but waiting for that point is a slow and arduous process. I've thought about doing that in the past, but I don't want to live inside of a car dealer all day long. I'd much rather drive around and talk to people.

With selling houses, the bigger money comes with listing properties. Mainly because you don't work anywhere near as hard listing a house for sale as you do taking people around to many different houses to sell them. It's nice in that regard, but getting people to trust you listing their house will take some time. You need to start somewhere. This is where marketing comes into play. If you can market yourself well enough (yes, spending your own money), you'll "touch" enough people that eventually someone will be in the market to buy or sell a house and your name will be on their mind. That's what real estate is all about. Granted, once you've done an exquisite job to a few customers, word of mouth will come into play. They'll know that you bend over backwards to care for them. Get them the most money for their property, or save them the most money for buying a new place. And that emotion they feel with you will spread to others.

I officially take the state test on Friday the 1st. After that (assuming I don't fail), I will have my real estate license, and can begin a new career. It's going to take a while to get started. And that means zero income, but I'm not worried. If I end up helping a client buy or sell an $800,000 house (the median single family house value out here), that's $12,000 commission for me. Yes, taxes will come out of that, as well as all of the promotional materials I've spent up until that point, but it's going to propel me to my next closing. And my next. So on and so fourth. I just need to keep my name out there. If I can help someone sell an $800,000 house, then buy another $800,000 house, that's $24,000 commission for me. This is why real estate is so lucrative. You just HAVE to be willing to work at it. This is a career that, more than almost any other, rewards people that work hard. And I'm ready to do that.

Maybe 6 months from now if I still haven't done anything, I'll re-evaluate, but you need to start somewhere. And I'm ready to start right now. And I'm looking forward to the future.

I have to believe in light of Zillow, Trulia, etc, that the rules for MLS will change. Or they will just become obsolete. I'm sorry, but you showing me a house and maybe spending a few hours and a few emails is not $12,000 of work. All my houses I sold FSBO, never needing a listing agent, and the houses I've bought have been FSBO. It took me all of sixty seconds to google and print out a house bill of sale that I sent to my lender, and my lender actually did all the work.

And honestly I hate buying a house that's listed because we all know the real estate agents commission is factored in. Before someone comments what an idiot I am, what I mean is this: everyone selling a house wants X number of dollars out of it. Llets say they paid $500,000, keep it for a year, and then need to sell it. Well they want their 500,000 back, but if they list it for 500,000 when they take out real estate fees they'll be short, so they HAVE to increase the price to whatever to make up for it, so I resent the idea of taking out a loan to pay for a house when part of the cost is the real estate agent's bloated commission, and then finance their commission over 30 years. I think this is directly responsible for bloated real estate prices too. Everytime the house changes hands we have to account for the bloated commission.

I'm sorry, your job is NOT hard and requires very little training, and only requires the passing of a very simple test. I think the trade is going to quickly become extinct. I predict within 5 years we won't really need RE agents anymore.

Zapatta · Aug 20, 2017

Xarpolis said:
Selling cars is a BRUTAL job getting into. If you think real estate takes time, selling cars takes 2-3x as much. You're sitting in a car dealer ALL DAY AND NIGHT, mostly waiting for people to walk in the door. Eventually you'll get a clientèle, but waiting for that point is a slow and arduous process. I've thought about doing that in the past, but I don't want to live inside of a car dealer all day long. I'd much rather drive around and talk to people.

With selling houses, the bigger money comes with listing properties. Mainly because you don't work anywhere near as hard listing a house for sale as you do taking people around to many different houses to sell them. It's nice in that regard, but getting people to trust you listing their house will take some time. You need to start somewhere. This is where marketing comes into play. If you can market yourself well enough (yes, spending your own money), you'll "touch" enough people that eventually someone will be in the market to buy or sell a house and your name will be on their mind. That's what real estate is all about. Granted, once you've done an exquisite job to a few customers, word of mouth will come into play. They'll know that you bend over backwards to care for them. Get them the most money for their property, or save them the most money for buying a new place. And that emotion they feel with you will spread to others.

I officially take the state test on Friday the 1st. After that (assuming I don't fail), I will have my real estate license, and can begin a new career. It's going to take a while to get started. And that means zero income, but I'm not worried. If I end up helping a client buy or sell an $800,000 house (the median single family house value out here), that's $12,000 commission for me. Yes, taxes will come out of that, as well as all of the promotional materials I've spent up until that point, but it's going to propel me to my next closing. And my next. So on and so fourth. I just need to keep my name out there. If I can help someone sell an $800,000 house, then buy another $800,000 house, that's $24,000 commission for me. This is why real estate is so lucrative. You just HAVE to be willing to work at it. This is a career that, more than almost any other, rewards people that work hard. And I'm ready to do that.

Maybe 6 months from now if I still haven't done anything, I'll re-evaluate, but you need to start somewhere. And I'm ready to start right now. And I'm looking forward to the future.

Might wanna wait till you know Oahu better, no one local is gonna buy a house from someone who thinks Sandy Beach is where you find epic surf.

Yes I am busting your balls, but seriously you dont know shit about the island and real estate is knowing the territory. You have a lot to learn about which parts of the islands are what kinda demos (especially racially) to get your clients a good fit. No White couple is gonna be comfortable living in a total Flip neighborhood in Upper Kalihi and no Samoan family is gonna want to live far away from the big Mormon churches. Hawaii has a super complex social structure, there are 1000 cultural nuances that you have zero experience with.

There are a shit ton of sales jobs in Hawaii, picking Real Estate in one of the most expensive and coveted markets in the country is gonna the most uphill battle to charge at right out of the gate.

Nester · Aug 20, 2017

I don't understand this at all,you lost your job becouse you can't be available at a moments notice, so you pick a career that requires you to be available 24/7?

I just bought and sold a house last month. 90% of all interactions with my super awesome realtor (who sold 80'houses last year) were outside of 9-5 or on weekends.

I am a commission salesmen already and would not touch real estate sales do to the crummy hours. Good buy weekends forever.

Tenks · Aug 20, 2017

If you want to be a buyer's agent you need to know the ins and outs of mortgages. My buying agent sure took me around and showed me homes but his real value was in knowing exactly what to do with my mortgage and that was knowledge I didn't have. Like do you know the point penalty for a jumbo? Can you recommend break even points for buying down the loan? Can you forecast the loan for the entire span of its life?

Pilforgod · Aug 20, 2017

Tenks said:
If you want to be a buyer's agent you need to know the ins and outs of mortgages. My buying agent sure took me around and showed me homes but his real value was in knowing exactly what to do with my mortgage and that was knowledge I didn't have. Like do you know the point penalty for a jumbo? Can you recommend break even points for buying down the loan? Can you forecast the loan for the entire span of its life?

Do most banks suck? My bank did all of this for me without even asking for it.

Omi43221 · Aug 21, 2017

Pilforgod said:
Do most banks suck? My bank did all of this for me without even asking for it.

How do you know the bank was telling you about the least expensive deal for you? Did they tell you about other banks that were selling the same loan at a lower interest rate or less closing costs?
When you go to a bank and ask them about a loan you are not talking to a neutral third party.

Cad · Aug 21, 2017

Tenks said:
If you want to be a buyer's agent you need to know the ins and outs of mortgages. My buying agent sure took me around and showed me homes but his real value was in knowing exactly what to do with my mortgage and that was knowledge I didn't have. Like do you know the point penalty for a jumbo? Can you recommend break even points for buying down the loan? Can you forecast the loan for the entire span of its life?

Also you should use a mortgage broker and not just apply at some random bank

Hoss · Aug 21, 2017

Crone said:
Reality check bro. You've said multiple times in this thread and others that sales is something you enjoy, and are good at. This job, as people have said, is 90% marketing, and not the actual sale.

Marketing and sales go hand in hand. I can't even say they're 2 sides of the same coin because for the analogy to be accurate, they'd have to be on the same side of the coin.

Pilforgod · Aug 25, 2017

Omi43221 said:
How do you know the bank was telling you about the least expensive deal for you? Did they tell you about other banks that were selling the same loan at a lower interest rate or less closing costs?
When you go to a bank and ask them about a loan you are not talking to a neutral third party.

Cad said:
Also you should use a mortgage broker and not just apply at some random bank

It wasn't a random bank, it was my credit union that I was doing business with for years. I shopped around for other deals and nothing was close, plus they are super easy and great to deal with.

Xarpolis · Oct 7, 2017

Well, I'm a full blown agent now. I'm slowly working on marketing myself to everyone I can. I just need to keep this up, then numerically, I should get my first sale (hopefully) soon. I just need to keep doing the numbers game. I keep going to all kinds of educational seminars and trying to meet other agents. It's just a matter of time until I succeed in my first sale.

Control · Oct 7, 2017

Xarpolis said:
Well, I'm a full blown agent now. I'm slowly working on marketing myself to everyone I can. I just need to keep this up, then numerically, I should get my first sale (hopefully) soon. I just need to keep doing the numbers game. I keep going to all kinds of educational seminars and trying to meet other agents. It's just a matter of time until I succeed in my first sale.

Grats on taking some action! Careful not to confuse the networking with marketing though. A lot of people (in many industries) get sort of addicted to seminars/conferences since they feel productive without making you actually do stuff. That's not to say that networking isn't valuable, but you're not selling houses to other agents...

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Real Estate Agents - Anyone have this career?

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