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Any Realtors?

Any Realtors?

Old Nov 4th 2004, 10:42 am
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Default Any Realtors?

Hello,

My husband and I are moving to the USA in mid-2005. My husband won't be able to do the same profession in the USA as he has in the UK. He has researched and is thinking about becoming a real estate agent, and possibly an appraiser as well.

Are there any realtors on this site who would be open to discussing this profession with my husband, i.e. giving tips and advice for one starting out?

TIA.

Lifeisgreat
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Old Nov 4th 2004, 11:30 am
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Default Re: Any Realtors?

Originally Posted by lifeisgreat
Hello,

My husband and I are moving to the USA in mid-2005. My husband won't be able to do the same profession in the USA as he has in the UK. He has researched and is thinking about becoming a real estate agent, and possibly an appraiser as well.

Are there any realtors on this site who would be open to discussing this profession with my husband, i.e. giving tips and advice for one starting out?

TIA.

Lifeisgreat
What visa will you guys be entering on?
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Old Nov 4th 2004, 11:34 am
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Default Re: Any Realtors?

Originally Posted by Manc
What visa will you guys be entering on?
We are DCFing in London for the I130 spousal visa. I am American and he is English.
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Old Nov 4th 2004, 12:14 pm
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Default Re: Any Realtors?

Hi,

Good luck with your visa filing.

If you look at some of the realtor websites, such as Remax or Coldwell Banker, they have sections on having a career in real estate. Some of them hold courses to prepare for the exams.
 
Old Nov 4th 2004, 12:24 pm
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Default Re: Any Realtors?

Originally Posted by lifeisgreat
Hello,

My husband and I are moving to the USA in mid-2005. My husband won't be able to do the same profession in the USA as he has in the UK. He has researched and is thinking about becoming a real estate agent, and possibly an appraiser as well.

Are there any realtors on this site who would be open to discussing this profession with my husband, i.e. giving tips and advice for one starting out?

TIA.

Lifeisgreat
I know a couple of Brits in NC who've become realtors, both in the last year. Let me see if I can get at least one to respond to your post.




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Old Nov 4th 2004, 12:36 pm
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Default Re: Any Realtors?

Originally Posted by lifeisgreat
Hello,

My husband and I are moving to the USA in mid-2005. My husband won't be able to do the same profession in the USA as he has in the UK. He has researched and is thinking about becoming a real estate agent, and possibly an appraiser as well.

Are there any realtors on this site who would be open to discussing this profession with my husband, i.e. giving tips and advice for one starting out?

TIA.

Lifeisgreat
I am a licensed (inactive) real estate sales agent in the state of Virginia. I have never sold a house in my life, nor do I really intend to. I did the course because I was bored waiting for an EAD.

What I can tell you, since I am licensed and all, is that:

(1) Formalities
Your husband would have to do a course. This is a doddle and he'll finish it in under two weeks if he puts his mind to it. I did all the coursework at home in the evenings, usually half-pissed , watching T&A filled reality tv shows.

Upon passing that course he will take exams and receive a license from the state. At that point he will be a licensed sales agent - not a broker. After working as a sales agent for a certain amount of time he can go on and become a broker.

Each state has its own quirks on the details of the above (number of hours of coursework required, etcetera).

(2) Making money
He would have to sign on with a broker who has dibs on some of the commission. 50/50 is not unusual for new agents; with tenure he can keep more of the commission for himself. The broker does very little for the agent really. Provides a desk, a phone, and hopefully a decent reputation. For all intents and purposes the sales agent is his own small business (many do, in fact, incorporate themselves).

So, it comes down to whether or not your husband would be good at (a) finding customers and (b) selling/buying houses for those customers. Some people are naturals and make a killing, others are just hopeless. The drop out rate is extremely high. Some people are fantastic at finding customers but can't close sales, others are good at closing but don't have the get-go to originate the customers...it's an unforgiving career choice.

In any event, even if he is good at it, it will take a few months before you start receiving checks, so have some money to live off for a while if real estate is the plan.

All of that said, I know two other Brits who are doing it. One started in Florida, then moved back to the UK to sell holiday homes in Florida to rich Brits; the other is in Phoenix and also does the mortgages, so gets a cut of all sides of the transaction. Both are doing extremely well.

If your husband is shy though, I'd forget it.
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Old Nov 4th 2004, 1:53 pm
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Default Re: Any Realtors?

If you want to work 9-5 and have weekends and holidays off then dont even think about it.

I have been a Realtor for 2 months and you put an awful lot of money in before you get any back. Firstly you have to do a Salesman course, this is $350 in NC, the state exam is $100, to join the board of Realtors and the local area Association is around $1000. When you join a company (more later) it is expense after expense (signs, badges, cards, computer.....) and best of all, as if your insurance wasnt expensive enough as it is, you have to get your car insured for business purposes as you are carrying clients to houses. Be prepared to spend about $3000 before you get anything back. If you want to be a broker count on anther $350.

You spend a lot of your day calling people and trying to get prospects, this can be sole destroying but the second you get a house to list or sell a house you forget all about the crap you went through to get it. Most Realtors do not make a sale within the first 3 months.

When you are showing people houses and selling them it is a great job, when you are prospecting it is not that great. The best thing about it is when you sell a house or a house you are listing is sold its a huge hunk a change for not too much hard work (beleive me there is hard work involved) but most people want to see houses in the evenings or weekends which cuts in to your own time. You are not hired by any company but work on the pimp and ho system, you ho yourself out and then pay the pimp (broker firm).

Another Realty is only one in three make it as a realtor. My advice is find a good company to join and get plenty of floor duty (manning the phones). A big company will give you lots of support and training - Coldwell Banker is probably the biggest franchise in the US. On the whole I like it, the accent is an advantage in the fact people like it and a disadvantage as americans think you may not know as much as a born and bred local.

If you need any advice send me a PM.

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Old Nov 4th 2004, 2:09 pm
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Default Re: Any Realtors?

Originally Posted by lifeisgreat
Hello,

My husband and I are moving to the USA in mid-2005. My husband won't be able to do the same profession in the USA as he has in the UK. He has researched and is thinking about becoming a real estate agent, and possibly an appraiser as well.

Are there any realtors on this site who would be open to discussing this profession with my husband, i.e. giving tips and advice for one starting out?

TIA.

Lifeisgreat
I work for an appraisal company, although I am not an appraiser. There is big money to be made in appraising, but it is a 2 year training course, with very little money. You need to have 2000 hours of training experience, going out with a licensed appraiser before you can be fully licensed and go out on your own. You also have to do yearly courses to keep your license. One of the appraisers who works for the same company I do made $1600 just this week and this is a slow week, towards the end of the month it picks up to where we are working until 7/8 at night. Nice business to be in though, to get the money from your refi, you must have an appraisal done, regardless of whether the homeowner or the lender pays for it, we make out like bandits, and most of the work is done from home. Nice if you can get it. Our operation is in CA, from southern San Diego to Riverside, and we are in AZ working from a back bedroom with a computer and a phone. Oh I forgot to mention, that $1600 that the appraiser made, that is half of the total cost for the week, we get the other half ($1600) , and we have 7 appraisers working on any given day.

Last edited by effi; Nov 4th 2004 at 2:11 pm.
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Old Nov 4th 2004, 2:24 pm
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Default Re: Any Realtors?

Originally Posted by effi
I work for an appraisal company, although I am not an appraiser. There is big money to be made in appraising, but it is a 2 year training course, with very little money. You need to have 2000 hours of training experience, going out with a licensed appraiser before you can be fully licensed and go out on your own. You also have to do yearly courses to keep your license. One of the appraisers who works for the same company I do made $1600 just this week and this is a slow week, towards the end of the month it picks up to where we are working until 7/8 at night. Nice business to be in though, to get the money from your refi, you must have an appraisal done, regardless of whether the homeowner or the lender pays for it, we make out like bandits, and most of the work is done from home. Nice if you can get it. Our operation is in CA, from southern San Diego to Riverside, and we are in AZ working from a back bedroom with a computer and a phone. Oh I forgot to mention, that $1600 that the appraiser made, that is half of the total cost for the week, we get the other half ($1600) , and we have 7 appraisers working on any given day.
Hi all. Thanks so far for the responses. I am sure that my husband will be pming/asking loads of questions when he gets a spare moment.

Effi, just wondering, what does one do to earn money while training to become an appraiser? My husband was thinking of doing the real estate agent thing first, and then branching out into appraising? Do you think it's possible to do both?

Thanks again all. Patrick and AMC, I am sure that my husband will be on later to ask questions of you two.

Lifeisgreat
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